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Originally Posted by kalman
Well TGT offer bookie cashback and so do QC!
What's that then? Some sort of odds scraper?
Originally Posted by Grandthrax
Where did I put that Google thing? I'll look it up.
It's an application that connects to the BetDaq API. Most of the functionality really only applies to traders but it can be very useful arbing horses.
Originally Posted by gissitus
It basically provides the market page that you get on the BetDaq website, but it refreshes is 5/6 times a second without you having to constantly click the refresh button. It also allows you to place bets very quickly without having to faff about clicking confirm.
Basically if your betting on horses 30 minutes before the off it won't affect you that much, but if you start arbing closer to the off you'll find it invaluable.
EDIT: there is a bit of a discussion on trading software on this thread http://www.thegamblingtimes.com/boar...ybody-use.html. The discussion there is on Betfair trading tools, but they're pretty much exactly the same as BetDaq tools.
Yes, see here:
Originally Posted by kalman
As a general rule though if the offer is for something we don't cover or it's clearly a lot better than our offer then it's usually OK to post (although if you're in doubt just PM me or another mod about it first ).
Zak: back odds 4
lay odds 3,9
Lay commission: 4,9
You're able to work out the lay amount in your head?
Well OK perhaps with the aid of a hand calculator although I do use various Spreadsheets at times for a sanity check.
Assumming he £20 stake is on the back odds;
£20 x 4.0 = potential back return of £80 (£60 potential win)
You divide the potential return by the lay odds in order to calculate the lay stake. However, before this is done, you make an adjustment to the lay odds to take into account the commission on Betting Exchange. Sine your quoted commission is 4.9%, you reduce the lay odds by 0.049. So instead of using lay odds of 3.9 to calculate your lay stake you would use the "effective odds" of 3.851.
Thus potential return of £80 divided by lay odds of 3.851 = £20.77
You can also check the liability of this bet by multiplying the lay stake by the (lay odds - 1) (i.e subtract 1 from the lay odds).
£20.77 x 2.9 = £60.23. Note that you don't adjust the odds this time for any commission, because you don't pay commission on losses, only winnings!
So if the bet wins, you would win £60 from the back side, and lose your £60.23 liability, hence your loss would be £0.23.
If the bet lost, you would lose your £20 back stake but win £19.75 from your lay (knock the 4.9% commission you will pay off £20.77 lay stake to get this). So on this result you would lose £0.25.
You can see that the loss is more or less the same whatever the result. Note that though the lay odds are lower than the back odds, it doesn't quite make it to an arb because of the commission you are charged at the exchange, hence the loss.
The more you underlay, the bigger the profit will be if the bet wins, however you will also lose more if the bet loses. Those doing this IMHO would be taking the position that the Odds of 4.0 are out of line, and are hoping to gain from + Expectied Value. Personally I wouldn't underlay this bet, but that's just my method at the moment and that is subject to change! Everybody has their own different methods and I'm learning that more and more.
Also with underlaying so as to get 100% return if bet wins? If so, I think you're one of those small time geniuses out there.
For me, underlaying comes into it when the Arb is more pronounced - a bigger gap between the back and lay odds.
I also overlay some of my bets, if I think the bet is more than likely going to lose. Again, I sometimes use that strategy, others don't.
Definitely not a genius, but thanks for the suggestion!!!
Originally Posted by My_User_Name
I think others may have covered this, but the simple answer is it depends on the level of accuracy you are looking for.
When I first started out I always ensured (via a spreadsheet), that my result was the same to the penny win or lose. With experience, I then thought why?
All I do now is a quick calculation in my head often underlaying on a good arb and accept that sometimes I will lose a little more / sometimes win a little more. However, in doing this I spend a fraction of the time on it and probably place about treble the number of bets.
To cut a long story short I sacrifice a little bit of accuracy for turnover of transactions. My personal advice would be to do what you are comfortable with particularly for the first few months.
I can see the value in biasing the bet one way or the other.
But at my level (newbie) I like going to the pub and telling my friends I have a bet on Arsenal and I will get £22.37 whatever happens!!
The next bookie I chose was Beet366.
This is a Bet £200 get £200 SNR but I am also went for the RAF and ALSO the mobile offer. So I joined via his link/code.
So the rules are:
Join and bet £200 @ >=1.5 and get £200 SR with a £1400 WR.
I bet £200 on a horse and got 7.5/6.8 for an £11 arb!!
Then got the freebie for next day and bet on another horse 6/5.5 for £209!!
It lost and the WR was cleared.
I then did the mobile offer:
Bet 5 times and get 50% back up to £25. Min odds were again 1.5 I think.
I guess you could do one big bet and 4 small ones. But I did 5 £10 bets.
I did darts, ice hockey, basketball as it was a Tuesday and no footy.
5 bets cost me £2.80. They gave me £1 for download and the £25 next day.
This was withdrawable without any further wagering needed.
No the RAF was more convoluted.
You have to had bet 25 times, all odds @>=1.5 and bet £250 and deposited £50.
The referrer must have done this also.
They you both get £25 that you need to bet x3.
So my mate had done all the above already.
I had deposited £200 for the free bet and £50 for the mobile offer so I had met the £250 wagering. All I was missing was the 25 bets.
To be safe I then did 20 x10p bets on darts favourites who were >1.5 and a some horses.
Didn't really care what. Worse case I would be £2 down. Ended up actually winning 72p!!
Next day we both got the £25 RAF bets.
We both bet on horses (I got 15/15 for £22 odd) and mate got a horse (13/12.5) for £23 (gave me half).
So in total I took an amazing £275 from the offers.
Which was more than the full amount of bonuses!!
Profit: £372 with Cashback £50 pending
Hope you get a long run with 365 !