If you’re looking to run different betting strategies across multiple markets and/or sports then it may be time for you to scale up using automated trading Bots. By utilising a betting exchange’s API, Bots step things up a notch from using tools such as BetTrader. They [almost] entirely remove input from the user, enabling traders to perform simultaneous tasks without being tied to the computer.
The Need For Betfair Trading Bots
Automated trading Bots aren’t advisable for complete beginners with no experience in using the betting exchange. But if any of the following scenarios apply to you then you may be able to increase your efficiency by investing in some technology:
- You have a clearly defined and repetitive strategy. In this case a Bot would automate the process instead of repeating the same tasks manually.
- When It’s becoming impossible to monitor and place bets across different markets simultaneously. You may have a lot of strategies (or various parts of one strategy) to keep a hold on. If you’re missing out on opportunities through being physically incapable of doing it all at once, then the investment in a Bot could solve your problem.
- You are struggling to capitalise on an opportunity from being too slow. Humans simply aren’t capable of monitoring prices anywhere near as frequently of effectively as a Bot can. The only way to ensure you have the best chance of getting a price you want is to use the technology capable of doing so.
- When your strategy requires a high level of configurability. It can be incredibly difficult to manage a strategy manually when there are a lot of different conditions or parameters to account for. Nothing can help to solve this problem better than an automated applications.
- You have a number of ideas that you want to trial in the shortest time frame possible. Testing out a strategy manually can be slow and error-prone. If you want to refine a betting strategy, then trial & improvement using a bot is a better way to go — you’ll be able to quickly identify patterns in your results and fast-track your ‘research’ phase.
Trading Bots By ‘BF Bot Manager’
BF Bot Manager was built using the API services from Betfair, Betdaq & Matchbook, and describes itself as a “Bot Management System”. Since 2005 the developers of BF Bot Manager have created many trading Bots — many of which were custom-made — growing into an experienced team that specialises in gambling services. Predominantly using the Betfair API, they have created more than 60 configurable sports betting bots.
The BF Bot Manager product range enables Betfair traders to test and implement their own strategies, as well as create entirely new ones. The software is incredibly flexible and includes many features which allow users to bet within any market, whatever their sport of preference. Additionally, the programming team at BF Bot Manager team encourage their customers to make suggestions. So if something doesn’t quite suit your requirements then they’ll tweak the existing Bots or produce you completely new programs on demand — which is an excellent service for any ambitious Betfair trader.
The BF Bot Manager V2 Interface offers many features and is highly configurable.
► BF Bot Manager Boasts
- It’s a “Sports Bot Management system”, for the use on multiple betting exchanges.
- It supports both manual and automatic trading.
- Strategies can be linked. i.e. one event is dependent on another.
- It supports bets on both the UK and Australian versions of the Betfair exchange.
- Bots built to perform specific tasks are ‘loaded’ into the system and will run with only minimal input from the user.
- Any of the bots can be modified to your request. This level of customisation surpasses its competitors.
- The programming team will create a totally new, custom bot for you upon request (pricing varies depending on complexity)
- The Ladder control is for the use in any sports market. A useful feature for quickly placing bets after a goal is scored in football, or for betting inplay on horse racing.
- The Multiple Strategies add-on allows users to set and run multiple betting strategies simultaneously.
BF Bot Manager’s Current Range Of Bots (compatible with the ‘V2’ product)
- Horse Racing Bot allows traders to place inplay trades in running for Horse racing. This Bot includes hedge functionality, so it reduces risk if bets are not completed within X seconds or if the price changes by X%
- Dutching Bot enables automated dutching of markets using pre-defined rules. It’s got some nifty features like automatically placing Lay bets on runners whose existing market price is within your Min/Max price range.
- Soccer Bot is used in the Soccer “Match Odds” markets. The aim is to place Lay bet on Draw few minutes before market goes in-play, and later while market is in play to place Back bet when possible to take profit of X%.
- Favourites Bot automatically places Back or Lay bets on one or more favourites for markets. Bot also supports lay to liability option, amount to win, staking plans, time when to place bets, loss pot recovery and many other useful features for successful betting.
► BF Bot Manager isn’t perfect, but it brings a lot to the table
Once you get to grips with it you’ll find that BF Bot Manager provides an awful lot of features. But the way the products are packaged and sold might be confusing to a newcomer. Some bots offer one feature, another one doesn’t. Some versions of the system enable more compatibility to extra add-ons than others. The difference in the price between the [V2 and V3] versions isn’t particularly easy to appreciate either. Basically, the company is much better at programming bots than they are structuring their product range!
But it’s not so hard. I prefer to think of the software suite as a “collection” of various approaches to Betfair trading. It incorporates different sports, features and concepts. The gist of is it as follows:
- V2 software is predominantly for running existing strategies (with add-ons available)
- V3 software is predominantly for running your own strategies (with many flexible options available)
I get the impression that some users of BF Bot Manager collaborate with the programmers in order to build new components. Hence why there are so many different components packed in. This is what I find particularly attractive about the company, and i’ll explain why…
I’ve personally had a lot of experience in working with programmers on Betfair trading Bots. The problem with producing exactly what you want from a trading bot is that your programmers have to fully understand the betting markets — not just the technology behind it.
It’s imperative that developers appreciate that everyone participating on the betting exchange is competing for odds. So it needs to be made clear what a strategy is trying to capitalise on, and what safety measures can be put in place to protect your investment. This is very difficult to achieve from programmers who aren’t specialists in gambling.
Then there’s the challenge keeping the programming expenses down. Cost-effectively producing Betfair trading Bots isn’t easy if you’re to allow sufficient time for the developer(s) to learn the ropes, and to build an infrastructure capable of managing several specialist trading bots.
But wouldn't development be faster and a lot more cost-effective if programmers were able to reuse huge chunks of existing code and tweak it into something that caters to your exact needs?
Of course. And that’s the opportunity that BF Bot Manager provides. Better yet, the software may already be able to do exactly what you want without making any changes whatsoever. With all this in mind BF Bot Manager gives you the best chance (that i’ve seen) of a quick turn around on developing the precise betting strategy you want — and at a lower price than you’re likely to find elsewhere.
► BF Bot Manager’s Pricing
There’s a free 5 day trial (and an extra 2 days if you like their Facebook page!) which includes:
- The fully working version of the software that you are trying out
- Manuals, video tutorials and articles with example strategies
- Read-only access to public section of of the BF Bot Manager forum
- Unlimited email support
► To test out your own strategies, I suggest trialling V3
Bf Bot Manager V3 bot allows you to create your own strategies by combining different rules and conditions. You can create as many strategies as you like and run them all at same time. Each strategy (by default) works for itself — but if needed you can connect strategies so that they work together.
V3 has the functionality to import/export strategies. This means that you can send your strategies to other users. Your bets & results are automatically saved by the software and can be exported to a CSV file.
Importing and betting on selections from your tipster can also be fully automated!
Due to its flexibility, V3 is probably the best value product offered by BF Bot Manager
There are different pricing plans depending on how long you subscribe to a Bot for.
For V3 the pricing is as follows:
|3 months||£59.95* (equivalent to £19.99 per month)|
|6 months||£89.95* (equivalent to £14.99 per month)|
|12 months||£119.95* (equivalent to £9.99 per month)|
► To benefit from existing strategies, I suggest trialling V2
For V2, the pricing is as follows:
|One license key for Bf Bot Manager V2 – Betfair NG API
(valid for 1 Betfair account and unlimited number of computers)
Two license keys for Bf Bot Manager V2 – Betfair NG API,
(valid for 2 Betfair accounts and unlimited number of computers)
*VAT also applies to UK residents.
Make payments via PayPal, or direct bank transfer on larger purchases. All updates for BF Bot Manager are free.