Wednesday, 30 January 2008

Trading Software Summary

How will I place my bets on Betfair?

As you may be aware, there is a large amount of Betfair Trading software available to use and many people are using this software. In addition, there are many different types of Betfair software available. Some of the software will help you place bets with the click of the mouse, others will help you with staking plans whereas other will simply make it quicker to use Betfair (but not necessarily easier!)Before I discuss the software that I will use throughtout The Experiment, I will look at some of the positive and negative attributes of Betfair Software.

PositivesOne Clink Wager Placement: This is an application that allows the user to place or lay bets with the click of the mouse. People using this software automatically gain an advantage over users betting with the normal betting interface.Flowing of Money Indicants: These are indexes which exhibit the "flow of money" on any event at a betting exchange. Traders use this information to try to ascertain whether or not a price will move up or down so that they can try to arbitrage a profit. If there is more money on the lay side, it usually signals the price will travel down. More money on the back side usually implies that the price will travel up. Profit Equalisers: If you have made a profit from arbitraging, you can use this function in order to ensure that you make a guaranteed profit regradless of the outcome of the event. Similarly, there are also Loss Equalisers which equalise a loss over all results.
Application Freezing:

In some circumstances, the trading application or your computer may freeze leaving you marooned in a very open position. To stop this from occurring, it makes sense to have more than one inetrnet connection operating and it also makes sense to have more than one PC set up in case it crashes at a very unappropiate time. This may sound a bit drastic to some but it makes sense. For example, if you are trading in blocks of £1,000 and your computer suddenly crashes, you may be left with a £1,000 wager on a horse that you can’t lay off before the off.
Human Faults:

Typing errors can be made more frequently using powerful software. Being able to put on a bet with the click of the mouse obviously has its advanatges but if you wrongly click the mouse at the wrong time, you could be left in a very vulnerable position.

As can be seen from above, Betfair software has good and bad points. One important point to always remember is that the software is only as good as the individual controllling it.
Throughout The Experiment, I will be using the Betfair software entitled Bet Angel Pro. I have looked into all of the software available and this seems to fit my needs best. It is possible to acquire this software for around £299 a year.

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