AutoBookmaker

AutoBookmaker - A tool for expert players

The automatic Betfair trading strategies mechanism implement in the new BetDriver version. You can create an unlimited strategies number which are based on several basic algorithms. You only adjust the parameters of the work according to your desire. Each created strategy is an array of settings that is saved under its own name and operates independently. Let us consider the basic Autobookmaker automatic strategy.

The general model of the strategy’s operation consists of several stages:

Stage 1. Markets search

To get started, it is necessary to select those markets where we plan to implement our Betfair trading strategy. There is a possibility to select a number of parameters by which the markets will be included in the selection for work. Further, the markets that will be included in the selection will be processed according to the specified algorithm. Read more about settings of Market Search

It is recommended to select parameters sequentially, from top to bottom, since the content of some parameters depends on the previously selected values.

Stage 2. Markets processing

All found Betfair markets are constantly monitored by the program “in a circle”. In each market, the program places bets according to a given algorithm. The general betting principle of betting is as follows:

• first, the initial Lay bets are placed on the basis of the selected parameters;
• if the bet is accepted, then: –  if additional Lay bets are included, then an additional Lay bet is made according to the decreasing algorithm; – if additional Lay bets are not included, then the initial Lay bet be made again after a specified pause;
• if the Trade mode is enabled, then: – a Back bet is placed after each accepted Lay bet; – after this, if the Back bet is accepted, then the Lay bet, similar to the previous one (which “generated” the Back bet) will be placed again.

Stage 3. Markets closure

Market closure can be enabled or not. If closure is enabled, then the program stops placing bets according to the main algorithm , cancels all bets and tries to equalize the results for all selections from the moment of closure beginning. Now that the general scheme of the program’s operation is clear, let us consider all its possible parameters.

Let’s take a closer look at these parameters

Markets processing

All found Betfair markets are constantly monitored by the program “in a circle”. In each market, the program places bets according to a given algorithm.

Parameters description:

• Virtual bets. The program will “see” the so-called virtual (mirror) amounts in the markets if the checkbox is activated. Learn about the details here:
• Processing frequency. The frequency with which the program will request markets data and implement further actions if necessary.
• Betfair fee(%). The fee applied to your account. It is only needed to calculate the strategy operation results on the Statistics tab.
• Transaction counter. Limit of bets (transactions) per hour. The exchange holds a fee for exceeding the limit of 5000 transactions per hour. The Period (minutes) parameter is the length of the segment within an hour (in minutes) for which transactions will be limited. For example, if 1 is mentioned, then a limit of 5000 per hour means 5000/60 * 1 = 83 per minute; if 15 minutes are mentioned, then a limit of 5000 per hour means 5000/60 * 15 = 1250 in 15 minutes. If 60 minutes are mentioned, then the program will not limit transactions within an hour, only the general limit will be in effect – 5000 per hour. The rest of the transaction parameters are not edited, they display the transactions number made in the current period of time. The “Total transactions” parameter shows the transactions number made since the start of the Betfair automated strategy.

Base odd calculation

Parameters description:

• Base odd calculation algorithm. Possible options: – With all matched amounts. The base odd is calculated in accordance with the volumes of all transactions in the market according to the following algorithm: a) for each selection, the weighted average odd is calculated for all matched amounts according to the formula: (odd * odd amount) / (total amount for all odds) b) the odds for all selections are converted into probabilities (1 / odds), summed up, proportionally brought to one and converted back into odds Note:a situation when the sum of the probabilities of the weighted average odds will greatly differ from one. If it is more than 1.2 or less than 0.8, the program considers that such an error is too large and the base odds will not be calculated c) thus a base odd equal to “net” or “fair” is obtained for each selection – With  the matched amounts from the moment of entry. The calculation algorithm is similar, but only the amounts matched after the market was found are taken into account. The base odds will be calculated as soon as some sums are matched for all the selections. – Consider the current market odds as basic. The BetDriver bot considers the current odds on the left side of the market as basic (odds available for Back bets).
• The minimum amount of the odd “visibility” on the market. When determining the current betting odd in the Betfair market (with the established calculation algorithm from the current ones), those odds where the amounts are less than the specified parameter will be ignored. For example, there is a following situation on some selection on the market: 1.56 ($ 1500) – 1.57 ($ 2300) – 1.58 ($ 10)If we place 20 on this parameter, then 1.57 will be taken as the current odd, and if 10 or less – then 1.58.
• Calculate the basic odd only once. If this checkbox is set, the base odd will be calculated only once at the first market entry. However, if it was not possible to calculate the base odd at the first entry, the program will try to calculate it until it succeeds. As soon as the base odd is calculated, the program will remember it and will not recalculate it again. If the checkbox is cleared, the program will recalculate the base odd in accordance with the specified algorithm with the every Betfair market entry.

Betting filters

Parameters description:

• Minimum/Maximum Overround (%). Overround – the sum of reverse odds in the market multiplied by 100. For example, if the market has the best odds for Back betting: 1.7 / 3.5 / 5.5, Overround = (1/1.7 + 1/3.5 + 1/5.5) * 100 = 105.58%. If the current Betfair market Overround does not fit within the given limits, no initial bets are made on the market.0 is without limits as a default.
• For horse races only: Minimum/Maximum race track length. The track length is set as: XmYf, for example, 1m6f. Two characters may be present, for example 6f or 1m. No initial market bets are made if the market length does not fit within the specified range.
• For horse races only: Hurdles. Possible options: – Only with hurdles – bets are placed only on those markets where the Chs or Hrd designations are present in the market name – Only without hurdles – bets are placed only on those markets where the Chs or Hrd designations are not present in the market name.
• Minimum/Maximum bets odds. Lay betting will only be placed within the specified range of odds.
• Delete markets that do not meet conditions on first entry. If the checkbox is set, then if the program finds the market that does not match the specified filters, it will be removed from the list for processing and will not be processed anymore. If the checkbox is not set, but the Betfair market does not pass through the filters, the program simply skips it and processes it next time.
• Minimum / Maximum spread on the selection (in ticks). Spread is the difference between the market Back and Lay odds. 0 – unlimited.

Lay betting

Parameters description:

• Initial bets amount. The amount is specified in the account currency. The Lay bet amount is counted from the specified option: – Payout – Bet Amount = Specified Amount / Odd – BetAmount – Bet Amount = Specified Amount – Liability – Bet Amount = Specified Amount / (Odd – 1).
• Margin from the base odd. The margin is specified in ticks or in percentage. If it is in ticks, then the initial bet odd will be decreased from the base odd by the specified number of ticks. If it is a percentage, the initial bet odd rate will be reduced from the base one by the specified percent number and rounded down to the nearest correct price.
• Additional formula for the initial bet decrease. The formula for an additional decrease (to the main margin) in ticks, depending on the odd. The variable K – an odd that can be used in the formula. When calculating the initial bet price, it will be further reduced by the number of ticks obtained by this formula. For example, you can enter the formula: 10/k – this means with an odd of 2 it will be reduced by another 5 ticks (10/2 = 5), and with an odd of 5 it will be lowered by another 2 ticks (10/5 = 2).
• Maximum liability on the selection. The amount of obligations actually incurred for the matched bets on the selection, after which the BetDriver program stops placing Lay bets on this selection.
• Maximum number of bets on the selection. The maximum Lay bets number on the selection, which are not covered by the accepted Back bet.
• Initial bets placement frequency. The frequency with which the program places Initial Lay Bets if no additional Lay bets are placed. No other Initial bet is placed until the Lay bet is accepted. If the Initial bet is accepted and the additional bets are disabled, then the program will again place the Initial Lay bet according to the specified algorithm after a specified period of time.
• Place additional bets. If the checkbox is set, an additional Lay bet will be made according to the decreasing algorithm after the Initial Lay bet acceptance.
• Additional Lay bets decrease. The decrease is set in ticks or in percentage form from the previous Lay bet acceptance.
• Amount increase odd when decreasing. The additional bet amount calculated depending on the specified bet amount option, it will be multiplied by this coefficient.
• Connect existing Lay bets at the start. When this parameter is enabled, unmatched Lay bets placed outside the strategy will be applied to the strategy. It is necessary to set this parameter when restarting the program. It is not required in other cases.

Trading

Parameters description:

• Enable trading When the checkbox is set, each accepted Lay bet will “generate” a reverse Back bet according to the specified algorithm. Further, each accepted Back bet will “generate” a reverse Lay bet.
• Place Back bets with the “Leave in In-Play” value When the checkbox is set, BACK bets will be left in In-Play. In this case, the “With In-Play support” value must be set in the search parameters.
• Back bets increase The value in ticks or percentage form, by which it is necessary to increase the Back bet odd. The Back bets amount will be calculated in such a way in order to equalize the positive result for all selections.
• Trade within the spread if possible When the checkbox is set, the Betfair trading bot strategies will place Back bets higher than the specified ticks or percentages, if the bet turns out to be the best offer on the market – that is, inside the spread. The same applies to Reverse Lay bets, which are placed after Back bets have been accepted.
• Back bets amount decrease odd. The Back betting amount calculated for the equalization for all selections, it will be multiplied by this coefficient.

Markets closure

Parameters description:

• Cancel all bets after the market transition to In-Play. If it turns out that the BetDriver program has placed bets in In-Play after the transition, they will be canceled.
• Close markets. If the checkbox is set, the Betfair trading bot strategies will stop placing bets according to the main algorithm for a specified time before the start of the market, cancel all bets and try to equalize the result for all selections.
• Closure time (before the event start). Time before the start of the event at which the markets begin to close.
• Instant closure time (before the event start). The time for equalizing the market by market odds.
• Closure attempts frequency. The frequency with which the BetDriver program will try to equalize the results for all selections.
• Use mirror closure If the parameter is set, the program will choose the selection on which it is more profitable to bet when placing closing bets on two-selection markets. For example, instead of Back betting with odd of 1.2, it is more profitable to place a Lay bet with odd of 5.6.
• Only cancel Lay bets. If the checkbox is set, the BetDriver bot will simply cancel all Lay betting and leave Back bets at the closure time. No more bets will be placed on the market.
• Keep closing bets in In-Play. If the parameter is set, closing bets will be placed with the “Leave In-Play” checkbox.
• Inaccuracy of totals during the equalization. Difference in totals during the equalization. For example, if we bet 1 cent, the program will try to equalize the results for all selections until their difference exceeds 1 cent. It is recommended to bet at least 5 cents, although the equalization is often impossible.
• Minimum closing bets amount. No equalization bets will be made for less than this amount. It is made for transactions saving.
• Minimum/Maximum closing Back/Lay bets odd. It is possible to limit the closing bets odds, if desired. Closing bets will not be placed with odds outside the specified ranges.

 

Martingale

Parameters description:

• Increase percentage. The percentage by which the next bet is increased on the basis of market, day or hour recalculation.
• Recalculation period:  Market. If it turns out to be negative after the market recalculation, then the program increases the bet amount by the specified percentage on the next market (related parameter: “Increase percentage“). If the market turns out to be zero after recalculation, then the bet amount does not increase (default setting); Hour. The decision about the bet amount increase by the specified odd is made at the end of the hour; Day. The decision about the bet amount increase by the specified odd is made at the end of the day.
• A limiting martingale odd. The maximum odd by which the bet amount will be increased.

Extra options

• In the “Alerts” parameters, it is possible to set the name of the sound file played when bets are accepted, if the corresponding checkbox is set.
• Autostart. The automated Betfair strategy will always be launched within the time interval specified in the Start time and Stop time parameters when the Autostart checkbox is set. If the start time and stop time are set as 00:00:00, the strategy will run continuously without stopping.
• Stop betting when profit/loss is reached. If these parameters are set to values other than zero, the strategy will stop betting if the profit/loss exceeds the specified value as a result of the strategy’s operation. Strategy profit/loss is reset to zero when the strategy is stopped. Thus, it is possible set the maximum losses / profits based on the day results and stop or start the Betfair strategy once a day using the Start time and Stop time parameters.

good luck in finding your profitable strategies!