Betfair Tennis Trading Bot
Posted in From My Inbox by StefanBelo
Can you tell me if this is possible to do on BF Explorer Pro.
I want to monitor every tennis market of the mens Wimbledon tournament. If a match prematch has the favourite listed as 1.15 or lower, then I want to back it for 50% of my available balance. Then I want it to immeadiately place a closing position bet giving me a 5% return on my bet on either side. I want all bets to be placed before the official start time too.
Is it possible to make BF Explorer do this so I can set it up in advance, let the bot monitor the markets and hit the bets where applicable. I dont want to have to watch the games all day....
Yes, you can use Bot Executor to setup your trading bot and then Trade Opportunity Lookup Service (TOLS) to run your bot on all Match Odds markets for selected round at Wimbledon tournament.
Creating your betfair tennis trading bot
To create bot criteria setting click on the menu item View/Bot Executor. In the Bot executor view click on toolbar button: Add new bot criteria. You want to place back bet and then your closing lay bet, so you have to use: Place bet and close position bot type.
Set following parameters:
- AllowPlacingBetInPlay: False
- AtInPlayKeepBet: True
- BetType: Back
- MaxOdds: 1,15
- MinOdds: 1,09
- PlaceBetOnRunner: 1
- Stake: 50
- StakeIsPercentageOfAvailableBalance: True
- MinReturnOnInvestment: 5
- PlaceBetImmediatly: True
Your trading bot will place your bets on favorite so do not forget to switch on the parameter Sort selections by: Probability to win on the Market Criteria page.
Testing the bot
It is a good idea to test bot criteria settings in practice mode so you can test whether your bot criteria settings really works as you want to.
I opened a market which fulfils the odds range for favorite and selected my trading bot:
Tennis trade on favorite <= 1,15 with 5% profit in the Bot Executor view. The bot was executed after I clicked on the Start bot toolbar button.
As you can see from messages in the Output view, the bot first placed the back bet at current offered price following by placing the lay bet to close position at profit if matched later. You can see in the Bet Wizard – Close Position for Selection that if my closing bet will be matched my profit will be 60,79 Euro. In the My Bets view you can see what bets were placed.
Running the bot with TOLS
We tested the bot successfully so now we can use it with TOLS to run it on all Match Odds markets.
First you have to add your bot into the TOLS. Click on toolbar button Add a new bot and then switch on: Use bot criteria from the Bot Executor. In the Bot Criteria dialog select your bot and click on Ok button. Set the start monitoring parameter to: 300 and refresh rate to 5 seconds.
Now you can select which markets you want to load. Click on popup menu Browse Markets or Events and select: Browse selected market type. The Betfair Browse dialog appears and here you can select market type you want to open.
After clicking on the OK button all Match Odds markets in the selected event: “Wimbledon 2009 – Mens Tournament – First Round Matches” will be loaded and 300 seconds before the official match start time your bot will be executed on the favorite.
On the Start Page you can see that TOLS opened for monitoring 16 markets and place bets on one market, on the 6 markets the bot was executed waiting for placing trading bets if favorite will be traded in allowed odds range 5 minutes before match start.
Conclusion
Well the bot and TOLS works fine for you doing exactly what your trading bot was instructed to do, but there is one disadvantage when using bot criteria settings from Bot Executor, the TOLS opens each market for monitoring and executes your bot on it. In this case when a lot of markets starting at the same time Bfexplorer PRO could monitor quite a lot of markets and if you would not set the market refresh rate wisely data request could exceed 20 free requests per second you have got from betfair.
This problem could be solved by creating a custom LookUp bot script which could be run by TOLS so only markets which could fulfill your criteria for bet placing will be opened for monitoring. If you are familiar with programming you can read some articles about how to program such betfair bot in C# or Visual Basic using the Bfexplorer BOT SDK.
