Posts tagged betting strategy
Betfair bots and laying traps that won
Today we propose and analyse another betting strategy often available in Betfair bots. The idea of this betting strategy is to wait until a favourite (in horse racing) or a trap (in greyhounds) hits certain number of wins in a row, then lay this trap or favourite. Another variation is to wait until a favourite loses several times in a row, then place a back bet on it. This strategy supposes that the same selection cannot win or lose again and again many times or at least the chance of this is small. For horse racing the strategy usually uses 1st favourite as selection. We will show you how to set this betting strategy up in 5starbot Betfair bot.
We will bet on greyhounds, placing lay bets on 1st trap when after it hits 2 winners in a row. We will attempt to place only one lay bet in the bot, then wait until next 2 winners in a row and so on. Below are options we use.
We enable the whole feature to make it active. We also tell the Betfair bot to be ‘Currently suspended’ from the start because we don’t place bets until it hits 2 winners in a row. Then we want ‘Suspend by meeting’ to count winners for each meeting (course) name separately, since it is more likely that the same trap or favourite wins twice on different meetings.
The bot has to ‘Resume (start) betting after’ 2 WON consequent bets. The bot has to ‘Suspend betting after’ 1 bet with ANY outcome, because we want to place only 1 lay bet and then wait until another 2 winners in a row.
In the 5star Betfair bot (or any other Betfair bot) we also need to load greyhound races with 1st Trap as selection. Actually you can choose any other trap number because it doesn’t have any difference. What matters is that certain trap should win twice. Also we need to tell the bot to place lay bets. To do that select a lay staking plan, for example, Lay Fixed Liability or Lay Level Stakes.
It is up to you to play with above parameters. For example, you can choose to place lay bet after 3 consecutive winners. Or to place Back bet after 2 consecutive losers. In the last case, change ‘Resume betting after’ from WON to LOST and change your staking plan to one that places Back bets.
Stop at Winner (SAW) system
We continue our Betfair bot strategies series with explanation of a very popular Stop at Winner (SAW) strategy. How it works?
- Bet until you hit a winner. Then stop for the day.
- If you hit a loser, the next bet tries to recoup the loss.
- Loss is cumulative, so if you hit 3 losers in the row, 4th bet will try to recover all that loss from 3 bets.
In Betfair bots you usually find this system under SAW, Martingale or Progressive (like in 5starbot) names.
If you play with this Betfair strategy, soon you will find that if you hit losers in a row, stakes size grows dramatically. Therefore it is recommended to have at least 100 or better 200 points in your bank to cover potential bet size.
Also to fight with fast growing bets, set Reset limit that will return to your normal bet size if specific number of losers are hit in a row. Max stake size also can help keeping your bets under a reasonable level.
Good point about this Betfair bot strategy is that with a good luck you can make fixed profit every day, if winners come more or less frequently. But remember that if you get many losing bets in a row it’s likely to bust your bank in one day.
Betfair bot strategies
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.