Since coming back from my Christmas holidays I have been testing out Laybot. For those that are unaware of what it is, it is simply a betting bot that does the work for you for the Lay Formula system.
Craig tested Lay Formula last month and made £286.80 in 22 days so we know the system works, but the drawback was that you have to monitor the odds on Betfair just before the race starts and place your bets accordingly. This is time consuming and will obviously be frustrating when you have losing days.
What the Laybot does is quite interesting. It’s not actually a bot that finds the bets for you, all it does is place the bets. So how does it know what to bet on? Well the Lay Formula team have got two guys sitting in front of their computers all day looking for qualifying bets. When they find one, they press a button and hey presto, that bet is sent out to anyone running Laybot and it places the bet for you. In effect, it’s like having these guys place the bets for you, all you do is set how much you want to stake!
The Lay Formula comes with a specific staking plan which you can choose to use or not use by ticking a box on the bot. I use it because it’s more profitable.
So, all that is required by the user is simply to load up the bot in the morning, log in and leave it. At the end of the day you check to see how you’ve done. Users also get access to a webpage that is a sort of laybot users online diary where the guys doing all the work write up about the days betting action and what races they will be monitoring the next day. They also write up here if they are having a day off so you don’t have to run the bot on that day. Also, since I run the Grey Horse Bot everyday too, I can confirm that it doesn’t interfere with it in any way.
All in all I have to say that it is very impressive. It does exactly what it is supposed to do and anyone that uses or has used the Lay Formula would be wise to use this instead because it just saves you the hassle of having to do anything.
The bot also has a journal of each days betting activity from which you can easily copy the data into an excel spreadsheet for those that like record keeping.
I’ve been running it since 3rd of January and unfortunately hit three losing bets in a row straight away (which is very unusual for the Lay Formula but thats horse racing for you) so I’m currently running at a loss but it’s very early days and I’ll update you all on a monthly basis for a while as to how I’m getting on as that’ll give a good indication of the long term profitability of this system.