Liability at £10 has a lot lower risk as you will see below, so we can use a lot smaller bank.
We are using a £500 here, as the biggest days are 30 bets, equalling £300 risk and that allows us to place all the bets on BFSP at once if we wish.
Since Re Release 20th May, 2014
Staking £10 Profit = £737.00 ( 14 times the price of a year subscription)
liability staking to £10 profit = £257.05 ( 5 times the price of a year subscription).
There are a number of ways as mentioned above on how to use this software, and it depends on a few things as to how it would best suit you.
So let's briefly summarise them.
Betting To Liability
If you have limited betting bank, and what a low risk approach to laying the selections, then the "Lay To Liability" is the best way. This way you know that whatever you set you liability for is all that you can lose should the horse win the race. Your return is governed by the odds of the horse should the horse lose the race, and you win the bet.
The lower the odds, the higher the return you will get, for example a horse under 2.00, you will win more than your liability should the horse get beaten. On the over hand if the horse is at 15.00 and you win that bet you will win only around .71p.
You have 3 choices when laying to liability:
A) Put all your bets on early in the morning on betfair interface and take the morning prices (the only thing with this is the some later races have very little liquidly and the markets are not set.)
B) Put your bets on Betfair before racing starts using the betfair interface, and take the Betfair SP option, and you can either put in an odds limited say 15.00 if you like, although betting to liability, this is of no real concern.
As already dicussed the good thing with this is that you can turn off your PC, knowing your bets are on. The disadvantage is it ties up a lot of funds, and you can not cancel the bets.
C) You can use a bot to place the lays, and you can opt out of betting when you want, or you can increase liability if you choose. The other advance is that you are only tying up funds for the immedaite race, (we would be betting say 60 seconds before the off).
The disadvantage is if the computer goes offline for reasons of power cut etc, then you can have your bets go unplaced.
This can be avoided by putting the bot on a virtual server, that is where the bot is hosted on a server that is elsewhere, ad you dont need to have your computer on all the time. This is an additional cost, so keep that in mine.
Recommended Bots to use for Laying To Liability are:
GreyhorseBot: Click Here
Bet Engine: Click Here
D) Or if you have the time, you can bet each race as it happens, this means being at the computer all day and evening.
Another Way to Use the Software Selections.
Betting To Trade Out
This is to take advantage of horses that drift out in price during the day ( see the green box above).
You will need to Lay to Liability, early morning on the selections, and then just before the race starts, if the horse has drifted out in price, you can use the betting calculator, to make a bet on the back side and win regardless of the results.
Now this only works if the horse has drifted (lenghten in price), if it has steamed in (shorten in price) you may look if you want to trade out of the position and make a small loss, you have this choice.
So those are the 3 ways you can use the selections.
Mostly, it will depend on your position to risk, and your mental attitude to betting, we are not all the same. Thank goodness.
Layback option, is you lay at the early price and if they drift out you can back them, and get essentially a free bet, or make a profit regardless of the result.
Example: 2:00 Leicester, Ishiamiracle Morning Fav @ say 4.50, you lay him for £10.00 Liability £35.00 (if he wins you lose £35.00). However 5 minutes to start time he is £15.50. So you can either Back him for £2.55 and you will win £35.00 after commission. If he loses the race you get around £7.07 profit after commission. If he wins the race, you neither lose or win any money, a free bet.
However you could bet it this way, to make money either way.
Instead of backing the horse for £2.55 to cover your liability on the lay only, you could look at a making a the same profit if the horse wins or loses.
You lay the horse as above for £35.00 liability (Staked £10.00), and then as the price drifts out to 15.50 in this case, you Back it with £2.90 instead of the £2.55 as in the above example.
Now if the horse wins or loses you will get close to £6.70 either way.
See Pic below.
You can get access to this calculator free here.
Click Here
Now obviously not all horses drift, this is just an option you can use.
We expect these horses that the software produces to lose, however if the Layback option presents itself you can use it, choice is a wonderful thing. |
Let's look at by Country UK verus Ireland.
Ireland is giving us 15% of our bets, but 80% of the PROFIT on Liability Staking.
As you can see above that in Liability Laying Ireland is a long way ahead, infact with 20% of the races it is getting us 45% of the profit.
Why?, best the short price horses in Ireland are getting beaten.
Plus the other great thing with Irish racing is alot of it in the evening, so more time to follow it a bit closer.
OK some people work 9-5 and want to bet, but not on BetfairSP (don't know why).
Here is Day Racing V Night Racing.
OK, what about Odds On Selections Only.
All courses individual results.
OK, I feel I have given you enough to make a decision do you want the selection software or not. |