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Better Bettor

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rickw
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rickw

Better Bettor
« on: January 26, 2013, 12:33:50 PM »

Hi all,

I have been working on a fully automated arbitrage betting software for the past two years and am looking for a few initial users - I hope the moderators of this forum don't mind the self-promotion, this does seem to be the right place for it.

In comparison to most other arbitrage services, this software provides automated betting, there is no need to sit by the computer all day and log in arbitrage bets in the browser. Only the occasional cash management transactions are required a few times a month, to straighten out bookmaker's balances.

> link currently removed. PM me for more information.

- Rick
« Last Edit: September 24, 2013, 07:00:07 AM by rickw » Logged
Arbusers
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Re: Better Bettor
« Reply #1 on: January 26, 2013, 05:14:11 PM »

Hi Rick and welcome to the forum.
Yes, this is the right place for self promotion.
From what i see in your graph, you used your bot for 1 year. How many of your accounts were limited? What was the average stake?
I suppose that this is a back/lay system or, am i wrong?

Why are you looking for people strictly from the UK?
Why are you using CHF?
Thanks.
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rickw
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Re: Better Bettor
« Reply #2 on: January 26, 2013, 05:28:14 PM »

Hi Arbusers,

Thanks for you interest and for letting me post here!

I've been using it for over two years now, the chart just shows one year, the gains of 2012 however were pretty much the same.
It depends on the bookie, most main-stream bookies limit fairly quickly, even if playing only low stakes. Pinnacle and BetFair obviously never limited me or any of the other (currently 2) users.

The average stake on my personal accounts was EUR 87, over roughly 100'000 bets placed. The chart is displayed in Swiss franks as it is my preferred reporting currency, but it can also be set to EUR, GBP or CHF. I do believe that some bookies may not monitor CHF accounts as much as EUR or GBP, which is why I do use CHF at the bookies which support it.

The app does support back/lay arbs, but also many other types of bets (back combinations of several different market kinds).

My target customer base is the UK, for legal reasons, but anybody may apply, as long as gambling and arbitrage betting is legal in the jurisdiction.

cheers,
Rick
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rickw
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Re: Better Bettor
« Reply #3 on: January 26, 2013, 08:20:49 PM »

the form on the site was not working for a while, in case you did post something, please try again. sorry for the inconvenience.
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Racerman
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Re: Better Bettor
« Reply #4 on: January 31, 2013, 04:26:00 PM »

Why is the chart showing minus at some bets? Is this mistakes made by the software when arbing?
As an example it seems like one bet in september/october was a loss of almost 3000 CHF.
The profit is ofcourse nice anyway but without those negative arbs it would be superb.
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rickw
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Re: Better Bettor
« Reply #5 on: January 31, 2013, 05:39:14 PM »

this has not so much to do with the application, but more with arbitrage in general. There are several reasons for such spikes (they go both ways btw).
- a single leg can be cancelled
- slightly different settling rules
- exchange rate volatility (if multiple currencies are used)
- errors in the application, e.g. wrong matching of events (this does happen, only maybe once every 4 months)
- the second or third leg could not be confirmed in time and the quote goes south => either hedge with a sure loss or take the risk. I personally only take sure losses up to a maximum of 2%, the rest I take with a risk
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Racerman
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Re: Better Bettor
« Reply #6 on: January 31, 2013, 06:20:25 PM »

Is there any alerts built in to notify the user if an arb was left with one leg open or was not fully matched?
This happends sometimes when arbing manually but then you often have control of the situation and can fix it.
If odds has changed, does it cancel or go for it if it's still a positiv arb?
Is there an option to tell the software I got a limit of max XX€ at a specific bookmaker?

I think this is really interesting. Always nice to have a machine do the work if it's not making to many misstakes.
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MUCHBET
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Re: Better Bettor
« Reply #7 on: February 03, 2013, 09:07:04 AM »

I did test the system now for about one week so a short review here:

1. general idea:
GREAT - no more sitting in front of the PC waiting for alert-whistle then urging to bookie and bet.
The software does everything for you, but you owe the programmer 50% from your income on every bet - TOO much for taking ALL the risk to your side, burning YOUR ID's (not his of course), etc.

2. Introduction:
the programmer is a nice guy from Switzerland (I don't want to reveal any names here!), the setup you have to do first is in a browser-window, then download a java based application.
It cost me tons of time as the software was not capable of understanding the difference of ";" and "." - so on every login I had to punch in all the bookies credentials :(
After couple days this issue was solved - but did cost me much time and many emails supporting him with logs, screenshots, etc. !
In the browser one may set misc. parameters like min. arb-%, maxbet/bookie, etc.
Right now there are around 12 bookies, whereof 6-7 are of good use
sports: rather all sports supported - good

3. Betting:
You may trigger "autobet" then everything will go as promised as long as your PC is running - good

4. Conclusion:
* In general the system is working and functional in terms of bet-placing
* Too expensive - I don't share 50% of net win PLUS taking all risks if something misleads AND waisting my ID's
* using mixed-rules for Tennis - too risky IMHO
* still rather beta & buggy (Willhill statistics were not working properly, so every time I checked stats I got a heart-attack as balances were missing in his overview (but they were ok at the bookie at least!)
* poor rounding - places bets often like € 24,65  etc. (incl. comma-amounts - that is ONE big RED flag at bookies!)
* my new ID's account at Willhill was dead within 4 bets


--> I quit his service again due to those big negative points written here


But - everybody needs to decide himself if it would be a good system for him/her!
« Last Edit: February 03, 2013, 09:23:07 AM by MUCHBET » Logged
Arbusers
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Re: Better Bettor
« Reply #8 on: February 03, 2013, 10:33:42 AM »

Thank you MUCHBET for the review.
50% is too much.
Tennis mixed rules is also against my principals.
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rickw
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rickw

Re: Better Bettor
« Reply #9 on: February 03, 2013, 10:39:11 AM »

Thank you, MUCHBET, for your review.

We are working on a feature which allows users to set the rounding behaviour per bookie, previously only one leg soft bookies was rounded.
It's hard to know exactly how bookmakers detect arbers, I suspect they look more closely onto new accounts. In any case, I am certain that there is no foolproof way of preventing them from flagging you, they can know after all, if at the time when the bet was placed, that their line was too high. The program is designed with the knowledge that users will get flagged, the volume of bets placed makes up to the fact that every bet can only be placed at small stakes.
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rickw
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Re: Better Bettor
« Reply #10 on: September 07, 2013, 08:25:02 AM »

hello all,

We're opening up for some more users - the last year has been going really well and we've managed to add a few features, including:
- value betting (just placing the full or partial amount on the soft leg)
- mixed tennis rules are considered but can be activated under certain conditions
- lowered commission
- 2 new books
- rounding strategies per bookie
- partial hedging

to apply for an account, drop me a personal message on this board, or use the contact form on the information page linked in the first post.

- rick
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