Looking to run your Betfair strategies across multiple markets and/or sports? You’ll need an automated trading Bot. Without one you’ll find it almost impossible to scale up.
Betfair Bots utilise the betting exchange’s API — like trading tools such as BetTrader do. But they take things one step further by removing the need for continuous input from the trader. Tasks can be performed without being tied to the computer.
Here’s everything you need to know about automating your own Betfair strategies using a Bot.
Need To Automate Your Betting Strategies?
Automated trading Bots aren’t advisable for complete beginners with no previous experience in using the betting exchange.
But if any of the following scenarios apply to you, then you may need to improve your technology:
- You have a clearly defined, repetitive strategy. A Bot would serve to automate the bet placement process, rather than doing it all manually.
- It’s impossible to monitor and place bets across multiple 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, then a Bot could solve your problem.
- You’re too slow to capitalise. Traders aren’t capable of monitoring prices as quickly and frequently as a Bot can. To ensure you have the best chance of getting the price you want, you’ll need the right technology.
- When your strategy requires a high level of configurability. It’s incredibly difficult to manage your strategies manually when there are so many different conditions/parameters to account for. Nothing can help to solve this problem better than an automated betting applications.
- You have strategy ideas that you want to trial in the shortest possible time frame. Testing out a strategy manually is slow and error-prone. If you want to refine a betting strategy, then trial & improvement using a Bot is the best way to go. It’s much easier to identify patterns in your results with a Bot.
Should I Hire A Programmer?
In short — no. Certainly not as a starting point, anyway.
I have a lot of experience in working with programmers on automated Betfair trading Bots. Problem is, it’s so difficult produce exactly what you want. Programmers have to fully understand the betting markets — as well as the technology behind it.
Then there’s the challenge of keeping costs down. You’ll need to allow sufficient time for the developer(s) to build an infrastructure capable of managing several specialist trading strategies.
But wouldn’t it be faster and more cost-effective if you were simply able to reuse existing trading products, and configure them to your precise needs?
Of course. And that’s what the “Bot Management System” by BF Bot Manager does. It gives you the best chance (that I’ve seen) of automating the strategy you want, at the lowest price possible.
Once you get to grips with BF Bot Manager, you’ll discover that it provides a ton of superb features.
Trading Bots By ‘BF Bot Manager’
Since 2005 the experienced team at BF Bot Manager have created an wide range of configurable, custom-made Betting Exchange Bots. Most of these were built for the Betfair exchange. But many of their products are also compatible with Betdaq and Matchbook.
The BF Bot Manager products enable sports traders to test and implement their own strategies — as well as run entirely new ones — as easily as possible. The software is fast and flexible, with access to any sports market.
The most valuable product currently offered by BF Bot Manager is a “Bot Management System” — which I’m going to talk about for the remainder of this review.
There’s two types of “Bot Management Systems” you can subscribe to:
- V2 software — for running existing strategies (with add-ons available)
- V3 software — for running your own strategies (with many flexible options available)
BF Bot Manager v2 — For Out-of-the-Box Strategies
What Does the V2 Bot Offer?
The V2 Bot gives traders a head-start by providing access to several pre-programmed betting strategies. All strategy settings can be configured to suit your own requirements.
It’s most recommended for those with some basic experience using the betting exchange, looking to automate their bets.
Below is a list of V2 Bot add-ons:
- Horse Racing Bot. Allows traders to place pre-race and inplay trades. This Bot includes hedge functionality; it reduces the 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 (e.g. it’ll automatically place Lay bets on runners whose existing market price is within your Min/Max price range).
- Soccer Bot. Used in the football “Match Odds” market. The aim is to place Lay bets on the draw a few minutes before market goes in-play, with a view to place Back bets inplay when it’s possible to take a profit of X%.
- Favourites Bot. Automatically places Back/Lay bets on one or more favourites within the market. It supports the configuration of several features such as: Lay to liability, amount to win, staking plans, and loss pot recovery.
A peek at the high configurable BF Bot Manager V2 Interface.
The Current Range Of Bots compatible with the ‘V2’ product
How Much Does the V2 Bot Cost?
V2 offers a lifetime licence.
|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.
BF Bot Manager V3 — Test & Run Your Own Unique Strategies
What Does the V3 Bot Offer?
It allows traders to create their own strategies by combining different rules and conditions.
In my OPINION, V3 is the best value product offered by BF Bot Manager
You can create as many strategies as you like, and run them simultaneously. Each strategy works independently by default. But you can also connect your strategies so that they work together.
The V3 Bot also offers some other additional features, such as:
- Strategy import/exports. You can backup & send your strategies to others, if you require. Or easily load it up on another computer.
- Automated results. Your bets and results are automatically saved by the software and can be exported to a CSV file.
- Tipster compatibility. It allows you to import and bet on selections from your tipster — automatically!
How Much Does the V3 Bot Cost?
Pricing plans depend on how long you subscribe to the V3 Bot for.
|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)|
In Summary, Here’s What You get From BF Bot Manager…
Two Bots, Two Needs
You’ll have to decide what Bot is most suitable for your requirements:
- V2 software — predominantly for running existing strategies (with add-ons available)
- V3 software — predominantly for running your own strategies (with many flexible options available)
An Abundance of Benefits
- BF Bot Manager is a “Sports Bot Management system”, for 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.
- The Ladder control is compatible for any sports market; a useful feature when quickly placing bets after a goal is scored in football, or betting inplay on horse racing.
- The ‘Multiple Strategies’ add-on allows users to set and run multiple betting strategies simultaneously.
There’s a free 5 day trial on the products (and an extra 2 days if you like their Facebook page), which includes:
- The up-to-date version of the software you subscribe to
- Manuals, video tutorials and articles with example strategies
- Read-only access to a public section of the BF Bot Manager forum
- Unlimited email support, and free software updates.
Payments can be made via PayPal — or direct bank transfer for larger purchases.
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 opportunity for any ambitious Betfair trader. Pricing varies depending on your Bot’s complexity.
Give BF Bot Manager a try. Configuring their Bot software is one leap towards becoming a professional trader.
Originally published on 26 Aug 2016. Updated 22/09/2018.