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 3

Perseverance with yesterdays trading strategy and a few dividends were paying off. I made the boundaries a bit tighter but found that they were more rarely hit (as you would logically think) This meant that when they were hit the horse more often than not went on to win. In the races that I could see some potential on dutching I tried out this. This effectively backs multiple horses to produce a profit. The easiest way to do this is to create an arbitrage, where the weight of money is over 100%, this does happen from time to time. An increase in risk is to ignore the complete outsiders and just back the horses who are in contention. With a £10 bet, you would lose £10 on the outsiders you were ignoring if they went on to win, but you would make £1-£2 on the any of the other horses if they go on to win. Anyway, £20.09, my balance is above what I put into the account (even though I got stung with the 30 pence transaction fee!)