FREE Ebook - Profiting from Horse Racing

[Win2Win]

"Profiting from Horse Racing" - As Easy As A, B, C

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[Julian4423]

Great book very helpful. What is your opinion of Betbot PRO? I do not have the time most days to place my bets due to work commitments, this seems to be the answer?? Are there any pitfalls I should be aware of?

Thanks again for some great advice.

Julian:)

[Win2Win]

I haven't checked any of that companies products, so can not recommend it until I do, however folk on here use other means for auto-posting of bets, and probably cheaper than £100.

Betfair used to do one for free, not sure if it is still around. I never trust them.

[wb]

Great book very helpful. What is your opinion of Betbot PRO? I do not have the time most days to place my bets due to work commitments, this seems to be the answer?? Are there any pitfalls I should be aware of?

Thanks again for some great advice.

Julian:)

Could you not use Betfair SP the night before?

[redandblue]

Hi Keith,

In your ebook, you said "WARNING: IF YOU ARE GOING TO TRADE, DO SO IN A SEPERATE BETFAIR ACCOUNT. NEVER TRADE ON AN ACCOUNT WITH WIN/LAY BETS, YOU WILL CONFUSE THE PROFITS. ON TOP OF THAT BETFAIR CHARGE EXTRA IF YOU MAKE A DECENT WAD ON TRADING, SO KEEP THEM SEPERATE."

Could you explain this. How can I trade without back and lay bets?

And what do you mean Betfair charge extra for trading? So if I use Betangel which meant for trading, I will be charged extra (on top of the 5% commission)?

r&b

[mathare]

Could you explain this. How can I trade without back and lay bets?

It means have one account for trading and another for straight back/lay bets

And what do you mean Betfair charge extra for trading? So if I use Betangel which meant for trading, I will be charged extra (on top of the 5% commission)?

Check the Betfair help for more details but the more bets you place in a given time period the more Betfair charge you as you're placing more of a strain on their server. I think that's how they do it now, it used to be done on refresh rates. So yes, you could incur extra charges depending on how often you trade and your Bet Angel settings.

As well as these transaction charges and the commission don't forget to factor in Betfair's 'winner's tax' too. Win too much money and Betfair will take another slice of it off you.

[Win2Win]

Win & Lay bets for qualifers/method selections are completely different than back/lay trading. It is a complete waste of time running both from the same account as it is difficult to split the P/L.

Betfair charge about 20% for trading profits if you make enough.

Why? Betfair was never designed for that kind of thing, it just evolved, and they have now taken steps to charge those that make money from it. I don't know any professional Betfair traders who complain about it.

[redandblue]

Thanks.

I have just gone through the Betfair charges, couldn't see the charge for trading. Instead, there are transaction charges and data request charges, both should be relate to trading. But I guess it is difficult to reach 1000 bets/hour for transaction or 20 requests / second for data request?

Keith, where did you get that 20% charge from?

And when you say seperate Betfair account, do you mean completely different accounts or there is a way to set up sub accounts so that I only need to varify once? And in some of your systems, when you say different banks, do you also mean different Betfair accounts?

Thanks.

[Win2Win]

In the systems you are using one type of bet WIN, you have a Betfair account for them. For the LAY systems you have another Betfair account. For trading, another one. So that would be 3 in all. :)

It keeps it all easier to manage, and prevents the Lays or trading mistakes eating into any Win profits as will inevitably happen when all are blended together. No need to worry about commission at the start, just learn how to profit first.

You get charged by Betfair for calls to the API if they are high, and it is not that difficult hitting those numbers, but I only work on 1 second so have no charges.

If you can work this out you can have a medal http://forums.moneysavingexpert.com/...tml?p=14015299 But some folk I know pay up to 20%. When you actually line it up with the stock market charges you rack up over the long term it is not that bad.