This is a laying service that comes with a Betting Bot that you run on your computer and it places the bets for you.
I’ve run this since March 1st on a Betfair account that had £500 in it. I set the bot to bet to a liability of 5% of the bank so the maximum loss on a losing bet is 5%.
I like the idea of this because it means that the betting bank can never get wiped out even on a long losing run, but a long winning run would mean significant profits as the profit on each bet increases.
The bot is very simple to use. Basically the first time you use it you set how you want it to stake, whether level stakes (and how much) or a percentage of bank and how much etc. You only have to do this once. Then you just click on the start button and leave it.
I decided to run it on my virtual server as I use one anyway for Grey Horse Bot. The advantage of this is that you never have internet connection problems and you don’t have to leave your computer on. The bot has a clever setting that allows it to restart itself at the start of each day.
Theoretically this means that you can turn the thing on and then never look at it again. Perhaps check your Betfair account in six months and see how you’ve done.
In practice though, it’s a good idea to check that it’s running properly occasionally.
Here’s the results from my first month:
Total Profit: £329.79
Not bad at all with just a £500 betting bank, that’s 66% return in one month. Of course, as Matt keeps pointing out, this is a long term game and although this is a good month, we could equally have bad months so I’ll just update this on a monthly basis from now on.
For now though, I’m happy to file this in the Approved Section.
You can join LOF here:
25th June 2010
Time for an update on the LOF bot. This little beauty has been running perfectly all on it’s own since my last post on 2nd April. Since I run it on a virtual server and it starts itself up each morning then I literally do nothing.
Results since 1st April to today 25th June are:
Starting Bank: £500
Current Bank: £1,149.30
Total Profit: £647.30
So the bot slowed down a bit after the first month but that was to be expected. We are now looking at 129% return in a little under four months for zero effort.
I’ll update again in a few months. If you’re not already using LOF as part of your betting arsenal then you’re missing out: