Just an update and I suppose the shortest review I’ve written. Laybot works!

The results published on their website are indeed the exact bets I have had so you can see for yourself. Laybot is simply a set and forget money maker. Load it up in the morning, which takes about 30 seconds, and leave it. That really is all you have to do.

The way it works is that there are a couple of guys sitting in a room somewhere monitoring the Betfair market all day and identifying the bets using the Lay Formula system which we have already tested on this blog. When they find a qualifying bet they press a button and that bet gets uploaded to your bot which then places the bet for you. You set how much you want to stake, whether £2 or £20 or whatever, and you decide whether you wish to use the Lay Formula staking plan. If you do, you tick a box, and your bot does the rest. Once you’ve chosen your settings they stay the same everytime you load it up. All I have done since I’ve had it is load it up and then leave it.

It’s a great little bot because if you have a bad day where you lose some of your profits from the previous few days you really don’t care because you haven’t had to sit there all day and end up getting demoralised when you hit a losing bet. All that matters is that you are making long term profit and letting someone else do the work. Great stuff.

This is one thing that I shall continue to use everyday simply because I would be daft not to.

One slight drawback that I came across was using it in conjunction with Grey Horse Bot. The fault is nothing to do with Laybot, it’s GHB. If you use GHB you’ll know that if you are betting with Betfair using other systems, those bets still show up in the GHB session unless you take those particular races out of the session.

With Laybot you have no idea which races are going to have qualifying bets so if you are using GHB as well then just bear in mind that any bets Laybot places will still show up in the GHB session. I had one day where GHB had stopped because I had a losing bet on Laybot that caused GHB to hit the stop loss and I didn’t notice until I checked at the end of the day.

Apart from that little quirk, which is a problem with GHB rather than Laybot, I really do recommend using Laybot.

I looked at the website and see they have different subscription prices depending on whether you have previously bought the Lay Formula or not. Do a quick bit of maths and you’ll see that if you intend to use Laybot for the forseeable future it’ll actually work out cheaper if you bought Lay Formula as well.

Bit of a odd setup that because anybody using Laybot has no need of the Lay Formula but there you go.

(Just had an e-mail from Michael who has pointed out that Lay Formula is on special offer, cut to just £59.97 for a limited time, thanks Michael)

Update November 2008…. Laybot has been discontinued.