Firedave trading Betfair with Bet Angel

Documenting my experiences with Bet Angel using BetFair. This will be used to record my progress as I take trading on full time.

Bet Angel - The most effective tool for Betfair
Mar 19, 2008

Day 2

Today was mixed, I was trying out a trading strategy where if the price of the horse dropped below 1.5 then place a back bet into the market at 1.3. This would be a fairly reasonable assumption, as the price will always tend to 1.01 as the horse nears the finish line in first place. This worked on the first race and turned a neat 1.31 profit. On the second race this was a little too vague and the price came in to 1.3 but then went out to around 2.5 as another horse overtook. If I were more alert I could have backed the other horse or should have looked at dutching the two prominent horses. Either way, I lost £3.98 on this race and am £2.67 down on the day. I think over more races with slightly tighter limits this would be a pretty good tactic but I saw the loss and decided enough was enough for the day!


firedave said...

Coming back to this post, this is a not a reliable tactic in any way, shape or form. When looking at races over time, you will see that a large proportion of them trade under 2 and even below 1.5 before the price drifts. In play trading is hard to predict, but the only time this would be a good tactic to employ would be if you were watching the race and not the figures.