I’m going to run another test now as I’m quite excited about this one. I know that’s not a good emotion to have when betting, in fact it’s better to be completely unemotional, but I just can’t help myself this time.
Until now I have always avoided using betting bots because in my opinion they still leave a lot to be desired. In case you are new to betting bots let me explain. A betting bot is basically a bit of software that runs on your computer that is directly linked to your Betfair account. The bot can be programmed to place bets for you within parameters set by yourself on either actual selections you set or automatically on selections that fall within the parameters you have set. It may sound complicated but basically what it means is, if you are using a system that requires you to sit in front of the computer betting from race to race, you can actually get the bot to do it for you, so you can go off and do more important things like clean the fish tank or watch Star Trek Nemesis, and when you come back it’s made you a nice profit.
There are a few on the market that work with varying degrees of success but The Grey Horse bot has particularly caught my attention. It’s been developed by Malcolm Pett and I know a lot of you are already familiar with Malcolm as he has carved a niche for himself in the online betting world and has a great reputation. His bot has been developed to include a great many functions and settings that allow for all kinds of betting styles from backing and laying to trading, betting in running and staking plans… all being completely automated within the bot so a totally ‘set & forget’ software that does it all for you. In fact there are so many options that I know I’m going to be busy with this little gem for some time.
For the purposes of this test I’m going to try out the Rule of Three system that comes with the bot. This is a system that involves laying greyhounds (something we’ve not done yet on the blog). As part of the package Malcolm also works out the bets for the day for you, so all you do is go to his members area, download a file and load it up into the bot. Click on Start and leave it to make you some money.
In case some of you already use this bot my settings are as follows:
Stop at £50 profit for the day. £25 stakes. Stop Loss £500. Staking set at 3, Include Betfair Commission and do not include original stake in the staking. Bet 60 seconds before the off.
I’ll explain what this means. The bot will automatically place a lay bet for £25 (plus a bit extra to cover the Betfair commission) on a dog. If the dog loses, which they tend to do, I’ll win £25 and the bot will go onto the next race and do the same. If that is a winning bet I will have made £50 profit and it’ll automatically stop for the day. If one of the bets is a losing bet the bot will then split the amount lost into three and recover the loss over the next three bets without attempting to make a set profit as well (this is to keep the liabilities down). If another losing bet occurs during the recovery phase then it’ll automatically calculate the total loss and again split that into three and recover the amount over the next three races. Once the amount has been recovered it’ll go back to aiming for the profit target for the day.
This is a really clever bit of kit. I’ve gone over a years worth of results for this system and losing bets are infrequent and losing runs are generally only one or sometimes two with one losing run of three. With stop losses built in to protect the bank this looks like a solid little automated system.
I also checked to see how the system did on the first few races and it was rare to get a losing bet in the first two hence my deciding to set my bot to make £50 within the first two bets. If I then hit a loser I will have the rest of the afternoon for the bot to recover it and make the profit.
I played with it Tuesday with £2 stakes which is the Betfair minimum and it happily made me £6 and stopped. Yesterday I increased my stake to £10 and asked it to make me £20. I had two losing bets and it chugged away recovering the loss and went on to actually win me £25 by some time in the afternoon.
This morning I decided to go for the £50 a day target. The first two dogs duly lost while I was eating my lunch and I came back to find another £50 in my Betfair account.
So for the purposes of this blog I shall update daily on the profit loss using these settings and see how we get on.