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Betbotpro
Is anyone here that uses BBP having issues with insufficient funds errors when there's clearly plenty in the account to cover the bets?
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Macs, you'll get those if you're trying to bet SP below Betfair limits. Can you give an example?
I moved away from BetBotPro to BF Bot Manager quite some time ago. |
If your trying to bet at, say $1 per bet, then you need at least $6 for that one bet in the account.
This is because the bot has to place a bet at or above the minimum stakes of $5. So in this instance if backing, it will place a $6 bet at $1000 and then delete $5 of that bet making it a $1 bet and then shift it to your odds. If betting more than one horse per race then You'll need more lots of $5. |
Hi Angry,
Yesterday I set it up to lay to a fixed liability of $10 on 50 or so races and just let it go. It was working fine for 2 or 3 races some of which were over 20-1, others were 3 and 4 to 1. Then I'd get funds errors so I reset the virtual wallet and away it would go again, 3 races later same message and on went the saga all day. A guy in the UK was having similar issues yesterday according to the BBP forum so I'm hoping it was just a glitch but if you were experiencing the same some time ago then maybe it's not. I can't see how BF could stop the bets, even though it's against their rules I've never had a manual $1 lay bet stopped yet through a bot for testing purposes. |
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macs, I agree with you about betfair but eventually most people get pinged for betting below the minimum stakes. They will give you a warning and give you 3-5 days to stop doing it. If you keep doing it they will close your account. On top of that a loit of traders were told to stop trading Australian markets or their accounts would be closed. This was after they lost the court case on how they have to pay. The commission increase to 6.5% didn't cover the cost considering traders could turnover the same $100 a few times on each race. Due to this a lot of the largest traders now do not touch the Aus markets. Also they don't seem to understand that a lay risk amount of $5 is the same as a $5 bet on a short odds on. To them its all about commission. And your winning of 5c for a $100 shot is not enough to cover their costs of running their servers. It also annoys me that the UK min bet is only $2 yet the $5 minimum bet for Aus punters is equivalent to a $3.20 minimum bet after currency conversion. Saying all that I do find that some people get away with below minimum stakes a lot and don't get caught. I am not sure why. Enjoy betting below minimum stakes while you can. |
Thanks for the reply UB but that still doesn't make sense to me. If BF take $20 off me for a losing $1 lay bet they still get their 5% -7% on the $20, someone's matched it somewhere.
Seems to me like a money grab from the colonies. With all the publicity here about responsible gambling I'd have thought BF would have had their wrists slapped a long time ago about lay bets. Obviously not. |
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Oh I agree it doesn't make sense and it is a money grab but look at it this way. You lose and pay out $19 so the opther punter pays commission of $1.235 But they have a minimum amount of $5 so they have to pay 5 times that amount on their winnings of $95. So on that one transaction that made $6.17. On the other hand if the horse loses and you win then you have layed $1. They take 7c from you. That is a huge difference to them on that one bet. If they make you lay $5 they at least get 32c I can assure you they can not make a profit after the fees they have to pay to NSW, VIC, etc and then cover the running costs of their servers on 7c commission. They are trying to run a business (and they are doing it unsuccessfully in my opinion). |
Hi UB.
Have BF stopped all traders yet on the aussie racing? Now that the footy season is over and my systems betting has gone down the tubes, I was going to return to trying to trade the Oz markets on Saturdays and Sundays (social things permitting) to try and build up my bank again. |
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Ocho, I think they probably have a limit but a few months ago the boards were full of people saying they had been warned by betfair. Not being a trader I do not know if they were big traders or all traders. I think it may have been befoer they introduced the turonver charge http://betfair.com.au/turnovercharge/ Its not hard to add up to 2000 in a week. But you will probably stay under the 50 markets. |
You were spot on Ocho. I only had about $120 in the virtual wallet and when I increased the odds to over 25-1 it wouldn't accept my bets, added another couple of hundred to the wallet and away she went. Thanks for the heads up.
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No problemo.
I'd be careful though betting that much. |
Thanks for the concern Ocho and I mean that. I read here somewhere very early on if you can't make it in the first year with $1 and $2 bets you sure as ******** ain't gonna make it with $100+ bets. My account with IAS rarely gets a bigger win bet than $2 lol. But, and it's a big but, it's gone from $40 to $186 in 2 months! (beats chest like Tarzan)
Question about lay systems. I use Betselector and have come up with 3 lay systems that have SR's of between 93% and 95% and I'm using a fixed liability stake. I wouldn't move from that staking method at the moment because of the lack of experience I have but for the future, with systems producing those type of percentages, is there another staking system that would more benefit them. |
Not sure macs. The only thing I could suggest would be move the liability up the same proportion your bank moves up.
If you start with $100 and have a $10 liability (10%) then just stick with that. i.e. Bank goes to $110 then stake 10% ($11 liability), $120 10% ($12 liab) and so on. It's the same as level stakes but you just starting a new level stake amount when your bank goes up but doesn't reduce when the bank goes down. That's the only thing I can suggest. I hope that makes sense. Now tell us about the IAS system. Or at least give us the tips. :) |
IAS is my account with IASBet.com.au Ocho. I just use the stock standard Betselector form report, Skyform and tips, Bestform.com.au and make sure it's good value, no system mate. Place betting has made most of those profits anyway, not win betting.
I'm not real interested in backing horses, I find laying real interesting. |
Here you go Ocho, this is what one of the lay systems spewed out for today. All care no responsibility lol.
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WHOA there boy!!! That's a few selections. Good luck with it. What did you think about the staking I suggested? |
My bots only placed lays on about 12 races so far today Ocho. That system picked quite a few more rank outsiders than it has for a week or so the BOT says no. Haven't lost one yet today though which is always good.
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Your suggestions on staking I've taken on board, seems like the sensible way to go. At least I can go broke slowly! :)
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Not one loss Ocho, if the law of averages works we should expect up to 6 tomorrow.
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Well done macs.
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