Good point The Ocho. I'm bewildered too.

No , the Bot does not take the closest to a price. e.g. 2.50

But I can set it to do that if I wish.

Why are you bewildered Barnie?
I did not think you were into Bots.

__________________
Cheers.

So it's taking one at random, Bhagwan?

UPDATE
I’ve stoped the bots for the night. I don’t seem to be going very well (what’s new though)?

Results 3/2/12
--------------------------------------
Odds On Fave System (Gallops & Trots)

A lot better today (about time).

Today
18 bets
12 wins
66.6% SR
Profit/Loss +5.87 Units

Overall
49 bets
31 wins
63.2% SR
Profit/Loss +0.96 Units
(Results have 5% commission deducted)
--------------------------------------
Selected Place System (Gallops Only)

Today
Outlay 32 Units
Winnings 33 Units
Profit/Loss +1 Unit
POT 3%

Overall;
Outlay 68 Units
Winnings 78.41 Units
Profit/Loss +10.41 Units
POT 15.3%
(Results have 5% commission deducted)
------------------------------------------------
$2+ Any Horse Place System (Gallops & Trots)

Bad day today! I might change it to $2.20+ from tomorrow. I’ll run some preliminary, premature stats and see.

Today
40 bets
15 wins
39.47% SR
Profit/Loss –7.08 Units

Overall
125 bets
56 wins
44.8% SR
Profit/Loss +0.43 Units
POT 0%
(Results have 5% commission deducted)

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

Hi Ocho.
With that Odds-on approach.

Can you set your Bot to bet to Price.
Where price is divided into a take out figure.

Example Betting to Price
2.00 into $10 = O/L $5.00 Ret 10.00 Loses
1.20 into $10 = O/L 8.33 Ret 10.00 Wins
Total O/L 13.33
Shortfall 3.33 = 25% down on O/L

If only one of these 2 wins , then we are only down 25% on O/L
It spreads the Liability.


Example Betting Level Stakes
If betting level stakes & the 1.20 shot wins & the 2.00 shot falls over.
Then it will be down 40% on O/L
2.00 flat stake 6.66 Lose
1.20 flat stake 6.66 Win Ret 8.00
Total O/L 13.32
Shortfall of 5.32 = 40% down to O/L


As we can see here ,there is a difference in the possible shortfalls between 25% & 40% shortfall amounts.
Meaning the selections at level stakes will have to work harder to break even.

This means the even money shots will have to out perform the really short odds on shots & we know that's not going to happen over a 100 bets.
So
Bet to price to get an improvement on returns.
It means you stand a stronger chance of losing less, betting to Price rather than betting to Level stakes.

You could also try Recovery, just for the fun of it, recovery staking set to 110%
This 110% is what makes the thing work really well instead of 100%
Betting 1.00 per 250.00 bank
Allowing for 8 outs in a row.
Min Price 1.55

__________________
Cheers.

Hi Bhagwan.

When backing on my bot I can only back outright (say minimum $5) or back with an "amount to win". I think that's the same thing as with those top examples of yours as I would be trying to win $10 and would therefore bet $5 on the $2 pop and $8.33 on the $1.20 pop. So, I guess it is the same thing.

I'm not really sure that this odds on faves system of mine would make profits either level stakes OR amount to win just the way it is. That's why I'm trying betting 100% profit of the previous bet on the next bet. Thereby a good sequence will give me a profit with a loss not costing TOO much as it would only lose the $5 stake plus the profit of the previous bet.

As far as the $2+ Any Horse place system goes there doesn't seem to be any noticeable disadvantage backing in the 2.00-2.20 price range compared to the rest (albeit on only 3 days data ops: ). The only thing I noticed was that the 3rd fav would of been about +10 over the 3 days if that was the only pick (i.e. first 2 faves under $2). Again, only VERY limited data.

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

I just double checked my "amount to win" settings and in fact it would try and WIN $10 rather than winning $10 which includes the stake. Thus, it would bet $10 on the $2 horse and $50 on the 1.20 horse (as $1 is taken away from the price to determine the win i.e. $50 x 0.20 = $10).

I think I'll stick with this 1x parlay for now which is basically loss recovery in reverse (i.e. back more after a win).

--------------------------
By the way, I am not listing any selections for the place system races as they are again quite numerous (in the amount of selections and the amount of races). I don't think I could really do this in the mornings as I would have to load so many possible selections on to the bot in the morning after going through all the possible races the night before. I reckon it would take more than an hour combined (maybe more) although you don't usually get something for nothing, do you?

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

That program of your is betting to odds, not betting to price.

It is not advisable to use that because there is a large disparity in liability
say $50 at 1.20 and $10 at 2.00

If betting to price it would be...
say $8.33 at 1.20 and $5.00 at 2.00

__________________
Cheers.

I thought I’d try and manually bet on the selective place system with REAL money (that of course is the minimum $5 amount on Betfair) about 10 seconds before each eligible race came along. What a load of codswallop. BIG loss of -$30 for me (-6 units) before I stopped doing that (using –6 units as the stop loss).

In the meantime I was trying to do a bit of trading and that suffered a bit because of the above.

The $2+ any horse place system went okay but a bit up and down. I was tossing up between putting the $5 real money on one of the place systems. Of course I chose to go with the selective place system.

Luckily the Odds On Favs system really kicked ass today with 11 winners in a row really improving the total.

Results 4/2/12
--------------------------------------
Odds On Fave System (Gallops & Trots)

A lot LOT better today (especially for $5 per base unit ).
And this result was AFTER 6 losing bets out of the last 9 bets stopping me out making the high effectively 23 units.

Today
26 bets
16 wins
61.5% SR
Profit/Loss +17 Units

Overall
75 bets
47 wins
62.6% SR
Profit/Loss +17.96 Units (Overall since testing on 27/1 +37.72 units)
Level Stakes +6.50 Units (Overall since testing on 27/1 +9.80 units)
(Results have 5% commission deducted)
--------------------------------------
Selected Place System (Gallops Only)

This was stopped out today (see above for explanation).
While still in (very slight) profit I will stop doing this one and try and make something automatic for the people (after all, if I want to work all day, I can simply trade on Betfair).

Today
Outlay 19 Units
Winnings 12.31 Units
Profit/Loss –6.69 Units

Overall;
Outlay 87 Units
Winnings 90.72 Units
Profit/Loss +3.72 Units
POT 4.2%
(Results have 5% commission deducted)
------------------------------------------------
$2+ Any Horse Place System (Gallops & Trots)

A bit up and down again as it is running all day. It might help to set a profit stop maybe or I somehow use something other than level stakes. Or, I might try something else altogether.

Today
76 bets
36 wins
47.37% SR
Profit/Loss +2.37 Units

Overall
201 bets
92 wins
45.7% SR
Profit/Loss +2.80 Units
POT 1.3%
(Results have 5% commission deducted)

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

These are the bot bets today for the odds on system (for $5 per base bet):

Full Market Name Selection... Amount...Price...Profit...And...Loss
NZL / TRap (NZL) 4th Feb / 10:58 R2 1200m Hcap 1. Eight Schillings...5...1.94...4.7
AUS / GCst (AUS) 4th Feb / 12:10 R1 1800m Mdn 8. Croatian Quality...9.7...1.6...-9.7
AUS / GCst (AUS) 4th Feb / 12:45 R2 900m Mdn 1. Coup Rayvan 5 1.71 3.55
AUS / Caul (AUS) 4th Feb / 13:10 R1 1100m Hcap 3. Star Of Giselle 8.55 2.04 -8.55
AUS / Kyne (AUS) 4th Feb / 13:35 R4 1450m Mdn 5. Looksmart 5 2.06 -5
NZL / TRap (NZL) 4th Feb / 13:56 R7 2000m Grp3 1. Ocean Park 5 1.48 -5
AUS / Morp (AUS) 4th Feb / 14:00 R2 1050m Listed 4. Armed For Action 5 1.43 2.15
AUS / Morp (AUS) 4th Feb / 15:20 R4 1800m Qlty 3. Bertucci 7.15 1.75 5.36
AUS / Darw (AUS) 4th Feb / 17:45 R2 1100m Hcap 3. Brace Yourselves 10.36 1.86 8.97
AUS / Toow (AUS) 4th Feb / 17:50 R1 1200m CL2 2. Starstreamed 13.97 2.02 14.25
AUS / APrk (AUS) 4th Feb / 18:10 R1 2138m Pace M 7. Inthelightofday 19.25 2.04 20.02
AUS / Mngl (AUS) 4th Feb / 18:15 R1 2300m Pace M 8. Glengowan 19.25 2.02 19.64
AUS / APrk (AUS) 4th Feb / 18:35 R2 2138m Pace M 10. Good Boys 24.64 1.8 19.71
AUS / Mngl (AUS) 4th Feb / 18:42 R2 1609m Pace M 7. Bainfeild Washington 24.71 1.93 22.98
AUS / GlbD (AUS) 4th Feb / 18:50 R1 2230m Pace M 3. Aitch Cue 24.71 1.76 18.78
AUS / Mngl (AUS) 4th Feb / 19:15 R3 1609m Pace M 9. The Big Mach 23.78 1.51 12.13
AUS / Melt (AUS) 4th Feb / 19:30 R4 2240m Pace M 11. Heza Trick 17.13 1.81 13.88
AUS / Espe (AUS) 4th Feb / 19:58 R5 1600m Hcap 2. Hacketts Heart 18.88 2.02 -18.88
AUS / APrk (AUS) 4th Feb / 20:05 R5 1660m Pace M 3. Sargeant Jujon 5 1.93 -5
AUS / Mngl (AUS) 4th Feb / 20:15 R5 1609m Pace M 3. Our Sixpence 5 1.9 4.5
AUS / Toow (AUS) 4th Feb / 20:22 R5 1050m CL4 1. The Jazzy Prince 9.5 1.61 -9.5
AUS / GlbD (AUS) 4th Feb / 20:25 R4 2230m Pace M 1. Sir S********y 5 1.83 4.15
AUS / APrk (AUS) 4th Feb / 20:40 R6 2138m Pace M 6. Ultimo 9.15 2 -9.15
AUS / Mngl (AUS) 4th Feb / 20:48 R6 1609m Pace M 8. Erle Dale 5 1.91 -5
AUS / Toow (AUS) 4th Feb / 21:00 R6 1200m 3yo 2. Jacks Back 5 2.04 5.2
AUS / Mngl (AUS) 4th Feb / 21:15 R7 1609m Pace M 9. Waltzing With Cullen 10.2 1.96 -10.2

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale

Results 5/2/12
--------------------------------------
Odds On Fave System (Gallops & Trots)
Higher strike rate today but less profit. With this it is when the wins fall (i.e. one after another) which makes all the difference.

Today
24 bets
15 wins
62.5% SR
Profit/Loss +4.14 Units
Level Stakes +2.17 Units

Overall
75 bets
47 wins
62.6% SR
Profit/Loss +22.10 Units (Overall since testing on 27/1 - 10 Days +41.87 units)
Level Stakes +8.67 Units (Overall since testing on 27/1 - 10 Days +11.97 units)
(Results have 5% commission deducted)
-----------------------------------------
$2+ Any Horse Place System (Gallops & Trots)

This seems to be going along quite slow and sometimes steady (except when it loses ). I’m still running stats to see if I can improve the return without going against the method of picking.

Today
63 bets
30 wins
47.62% SR
Profit/Loss +3.71 Units

Overall
264 bets
122 wins
46.2% SR
Profit/Loss +6.51 Units
POT 2.4%
(Results have 5% commission deducted)

__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”

― Earl Nightingale