I was just looking at my actual bot profit compared to what I have been paid as profit from Betfair and I have actually paid 16.5% of my winnings to Betfair so far for the month. Kinda makes you wonder whether it is really better prices in the long run through Betfair doesn't it?

Mattio
Are you using Bet Bot Pro?

If so, set the Adj Ticks to -4 to allow for any fall in price as the bet is going on.

__________________
Cheers.

What I do to allow for the 5% Betfair commission when betting level stakes ,

is bet 3-5% more on top of our std bet , this usually addresses the commission

you mention.

__________________
Cheers.

Hi Bhagwan,

The bot I am currently using doesn't have that feature (at least not that I can see) so until mine is fully functional I will have to wear those losses. I am allowing for the commission in the stakes so while I am betting an additional 5% on the stakes I am losing 16.5% from the gross return.

Cheers,

Mat.

Hi mattio and anyone who will listen,

Don't be fooled, the Betfair takeout doesn't seem like much (5%) but it sure adds up (particularly if using recovery rather than straight out level stakes betting).

Take for example today. I was trying out the backing the 3rd fav mode (level stakes simulation bets which lost over the complete day) but the 3rd fav had to be over $6 on BF. In the sixth race the 3rd fav won and paid $8.40 (matched at 9.4). 5% of 8.40 is 42c making the actual amount won for that bet $7.98.

Okay, that's fine if it was the first race but, as it was the 6th race, I would have lost $5 in the previous races. This means I won (in simulation mode) $3.40 for the day which was reduced to $2.98 by the 42c (5%) commission.

BF wouldn't of deducted only 5% from my money today for commission though - they actually took out 12.3% from the $3.40 which I actually won today leaving me with $2.98. And of course it gets worse if your chasing losses in recovery mode.

Be warned

What race was it Ocho and who was the winner? If it was race 2 at Gosford Awi Acting then the bot I am using said I wasn't matched at $5.70......I will be quite angry if in fact it paid higher than that and I wasn't matched at $5.70.


Mat.

mattio

Here is the results for the first 6 races but in sim mode it doesn't say what race or where it was.

After a bit of snooping I found it was race 3 at Murwillumbah won by Chopped which paid $9.2 on VIC TAB (remember the selections had to be over $6 for this testing which lost for the day betting on every race over $6).

Awi Acting paid $5.90 on VIC TAB but had an SP of 5.1 on betfair and also started 2nd fav on betfair

Full Market Name Selection Price Profit And Loss
11:28 R1 1530m Mdn\14. Diamond Mistress 14. Diamond Mistress 8.2 -1
11:55 R2 1200m 2yo\4. Joyous Lady 4. Joyous Lady 10.5 -1
12:03 R2 1400m Hcap\10. Ma Ma I Love You 10. Ma Ma I Love You 7.4 -1
12:21 R1 1700m Mdn\8. Frantasmic 8. Frantasmic 6.4 -1
12:30 R3 1000m Mdn\6. Merida Zeus 6. Merida Zeus 11.5 -1
12:38 R3 1400m Hcap\3. Chopped 3. Chopped 9.4 8.4

Thanks Ocho, looks like it would have been about the 7th bet had the bot gone past 6, oh well them's the breaks. Just had a winner in the 4th on UK which softened the blow a little.

Cheers,

Mat.