It’s good to have a Betfair bot for betting. They have many smart functions that make your trading easier and faster. What they don’t normally have are betting strategies. Of course, they do allow you to run betting strategies and automate them, but it’s up to you to choose a strategy and all the betting parameters.
So, you paid for a Betfair bot, what next? It’s time to find a good betting strategy. Here we will not cover different trading strategies, when you place back and lay bets on the same horse to make a trade. We will look at key points in staking strategies when all your bets are same type (back or lay) and you aim to close the day with positive profit, having several horses to bet.
First important thing to understand is that betting strategies do not guarantee constant and reliable profit. It’s a myth that you can find a betting cash machine and live on winnings. Their winning runs are limited and followed by losing runs. Good betting strategies just make winning runs longer.
Most popular betting strategies explained
Progressive or one bet recovery strategies
This kind of betting strategies is simple – you try to recover all your previous loss in next bet. If you run into a series of losing bets, loss grows dramatically and might bust your bank very soon, especially if bets are placed at short odds (e.g. favourites). This strategy might give you daily profit for many days, even months, but in the end it’s almost guaranteed that you will lose the whole bank and previous winnings in one very unlucky day. If you choose this strategy you agree to take the risk. You must not be greedy and quit the strategy when you make some profit, say, 15-20% of bank.
Level stake strategies
These betting strategies are much safer. Because you don’t try to recover losses and always bet only 1 pt (i.e. 1/100 of your bank). It is very important to have strong selections for level stakes, in other words it is not recommended just to bet say favourite in every race, instead you should choose each horse individually. Of course, it’s hard when you are beginner, so your best bet is to follow a tipster.
Betting strategies for Betfair bots
Here we will list several betting strategies that can be used with almost every Betfair bot, for example 5starbot. Please be aware that we don’t promote any of the strategies listed below or say that one of them is guaranteed to make you money. It just can be a starting point for a novice before you set up your mind to go with something else.
Level stakes on 1st and 2nd favourites
Place 1pt back bets on 1st and 2nd favourites in horse racing win markets. You have big chances that one of the two favourites wins. You might also want to set maximum price limit. Start with Max Price = 5.0 and adjust as you progress.
Wait 1st favourite to lose, then place bet
The idea is to wait for 1st favourite to lose several times in a row (say, 2 or 3) and then start placing your bets because it’s unlikely for 1st favourite to lose many times in a row. So after 2 or 3 loses that you skip, you have a better chance to win. This type of betting can be done with level stakes or with partial loss recovery.
Betting on horses that shorten
Watch the prices 15 to 30 minutes before the off when most of the market money come in and place a bet on the horse that price has shortened the most. Many Betfair bots have this function, so you actually don’t have to sit and watch the prices yourself.
We will explain more Betfair bot strategies in next articles. If you are looking for a good Betfair bot, try 5starbot. It is one of the most reliable and has many options to set up virtually any strategy that might come into your mind.
Greyhound racing or dogs racing is one of the most popular sports to bet on Betfair. There are many betting systems specializing in greyhounds. So what are features of greyhound racing?
Greyhound races are common in UK, so most of Betfair listed races are UK based. Unlike horse racing these markets don’t go inplay, but results are available quickly, usually in few minutes. All races have six number of runners. There are WIN and PLACE markets like in horse racing. Two dogs to be placed. All bets are being placed on trap numbers, not names of dogs. Each races has a class, showing the level of runners. It grades from A9 (lowest) to A1 (highest).
I have to mention one another detail. Taking into account that there are so many daily races on Betfair and usually with intervals less than 10 minutes, money comes in the market only around 2-3 minutes before the start. Even 2 minutes before the start there is no much liquidity (not like in horse races) so it’s worth to wait till 15-20 seconds before the off to place your bet.