We kick off at the usual 1.00pm UK time with our regular Betting Blogosphere Round Up with all the best from the great betting blogs.

Juicestorm Prize Draw

During the show we will be giving out the prizes from the Juciestorm Competition, those who win and are listening will get first pick of the prizes. We will of course publish winners for those who miss the show live.

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Cheltenham selections with Dave Peile

Our first guest is at 1.15pm when WUBT will be joining our regular tipster, Dave Peile, in the front row event box at Cheltenham. We’ll be getting the low down on his views for the best selections of the day to continue his profitable winning run.

Hear the WUBT Episode featuring Dave Peile: Juicestorm Radio Archives

BetBotPro and Mark Baker

Then we’ll join Mark of BetBotPro around 1.30pm. Throughout the day we’ll be running BetBotPro on Betfair following my usual strategy. We’ll be talking about the latest beta release for Betfair which is available to members right now, and the soon-to-be-released BetBot for Betdaq.

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Racing Traders Adam Todd

After Mark we’ll whiz right over to Adam for a chat and see how the Geek’s getting on with the launch of the new Racing Traders application. And perhaps even a sneak preview of some of the great new features? Join us live  and find out tomorrow.

Visit: Racing Traders

Risk Free Bets

Finally, Darren Hall of Bet72.com will hopefully point us in the right direction for more free money and all the latest offers from bookmakers and the specials available for Cheltenham.

Visit: Bet72.com

Betfair Lab Rats

And a special mention goes to the Betfair Lab Rats and Betfair Chat members who try to join us live most weeks. If you haven’t already got it why not get Betfair chat now? It gives you the ability to communicate with other users all from within Firefox live.

Visit: Betfair Labs Chat

The Show

Will the Juice Team get it all together? Or will the gremlins screw us? Be the first to find out live, 1.00pm, tomorrow. The player will be live in the sidebar 30 mins before the show and availabe in the Betting Radio archives soon after.

Video

We were going to broadcast this show using live video unfortunalty lack of time and the expense of software and bandwidth for video we have decided against it for this show, this is something we want to do so watch this space.

If you have any questions post them below:

Here is the first in a series of BetBotPro videos, this is the demo movie created by Mark Baker (Bet Bot Pro Developer). We will continue this series with the BetBot running the ManofMystery settings and will show you the Bot in Back and Lay Mode.

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Date: 19 November 2008 18:25:51
Subject: Laying Greyhounds

Hello,

First of all, I’d like to congratulate you for your blog, it really motivated me to try Betbot Pro.

My question is very simple: although I’ve been in Betfair for a while, mainly trying to trade in basketball and tennis markets, I’ve never had notorious results. However, today I download the Betbot Pro trial and I let it run starting in the morning in the simulation modo with stakes of 0,5 euros. I used a random “lay the 1st fav” strategy and by the middle of the afternoon I find myself a nice profit of +13,00 euros (excelent isn’t it, considering I used 0,5 stakes).

I didn’t hesitate and turned the simulation mode off and now I’m having good results. You see, my question is, I don’t know anything at all about greyhounds, I haven’t even see a race in my entire life, but it seems that laying the fav really works… Now, from the data in your site you have a clear long-term profit, is your strategy simply laying the first favourite or you do any research at all selecting good picks?

Thanks in advance…

Joao

Hi Joao,

I’d lay the favourites on UK greyhounds 24/7. No research whatsoever. Form very often is poor information. A friend of mine writes a column for a local newspaper – Brighton – which features Hove dogs and other tracks. He’s more knowledgeable than me and with a large enough bank and the correct Back/Lay ratio for liquidity looking at his comments over the years then it may be a profitable strategy.

On horses I’m more selective. If you don’t mind I’ll pop your question and my reply in the blog as it may be of interest to others.

Have a great day Joao.

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During the month of October 2008 I had the opportunity to use BetBot Pro to fully cover a mix of UK, Irish, US and South African horse racing and UK greyhounds. The selections have been made using a recovery staking plan of between 60% and 80% over two races where there is a loss. I have currently settled for a recovery of 70%.

I have found the software to be stable and on the couple of occasions where there were CPU challenges because I have several applications running I have been able to close it during racing and it magically takes up where it left off when started again. This is because it writes the daily data, after you have made your selections, in to its own folder.

Regular readers will know that Bet Bot Pro waits to see if a recovery is needed by waiting for Betfair settlement. This will always raise the potential for unnecessary recoveries and this is, indeed, what happens. A fault of the software? Of course not. That is the only way it can operate to be 100% accurate.

The Initial stake I used was £1.00 with a bank of £10,000. I was aiming for a daily return of 1% which was exceeded and I had a stop loss of £4000. The minimum number of runners was 6 and that has been changed to eight for the last week.

One of the most attractive features I found was the Back/Lay Ratio % which I had at 10%. It helps avoid lays where the market is thin and bad value. This is essential for non UK horse racing.

I found Bet Bot Pro very easy to use. There is a free three day trial and there were no problems in set up – it took less than 5 minutes. I set up BetbotPro to run from mid day to midnight and it did its stuff, day in, day out.

There are many “edges” you can get in this and other financial markets. The traditional way to get an edge in horse racing is to study the form and career stats for horses, jockeys and trainers and research course stats by meeting for jockeys and trainers with runners at the relevant meeting – and loads, loads more.

BetbotPro will not, of course, do any of that for you. It’s simply a mechanism for placing bets, either on your specific selections (where hopefully you’ve done some of the above) or going against or with the 1st, 2nd, 3rd or 4th favourite.

Bet Bot Pro can automatically place Back OR Lay bets on UK, US, AUS, RSA Horse & UK, AUS Greyhound races depending on your criteria. It’s a massive timesaver. It takes just 5-10min to make your daily selections if you choose that option.

It’s got a minimum and maximum odds range filter so it only places bets if they’re within your limits.It can place bets 1sec – 10min before the race starts and has a minimum or maximum number of runners filter.

If you want to focus just on a staking plan which is what I did for this month’s review then there are several. You can go with level stakes, % bank stake, fixed liability, % bank liability or % recovery staking.

It has a stop loss and profit target to ensure you limit losses for the day and stops when your profit target is hit. This is a great safety feature and one I use every day. It also has a trailing stop feature to protect profits already won.

There is an unsettled bets allowed filter which stops betting until last x bets have been settled. Mine was set to 3. And BetbotPro runs while you’re away at work or doing other things.

So that’s it for this month’s software review. My conclusion is that, in the right hands, this is a bot that does exactly what is says on the can. The permutations you can use to extract a profit from the markets above are substantial. I liked it. Yes, it made a profit. Will it for you? No idea. It depends on what you do with it.

Now I move on to the only negative which does impact on the profit. After several hard days of recovery stakes BetbotPRO decides enough is enough and stops recovering and just goes in to level staking. I first reported that here and it happened again yesterday. I came back and noticed several missed recoveries so I downloaded another BetbotPRO and ran the two applications side by side and checked and double checked all settings as they were running. They were identical.

I really don’t know what is causing this but in terms of risk the problem is minimal. It’s just a shame that several recovery opportunities were missed for a couple of hours which reflects in a lower profit. The stakes therefore increased during racing yesterday but with recovery only on half the stake the exposure was still well within limits that I find comfortable. I only posted the new BetbotPRO results in the daily results section. The failed recovery bot lost £9.86. Neither are included in the summary below.

Well that’s it from MOM Towers in Malta for today. Stay safe wherever you are and good luck to you all as always.

Try for Free

Grab yourself a copy of Bet Bot Pro Here, there is even a free trial available! And with stakes as low as 10 pence you can try new stategies with real results for little risk. A summary of my daily results until Tuesday, 28th October 2008 is below.

See the full results at BetBotPro Daily Betting Result.

Firstly, apologies for the poor formatting below. Now down to business. Justin lost with BetbotPRO a week ago and you may not have seen the story here but after some analysis, and with Justin’s permission, I reproduce below a copy of his statement and his further comments by email below.

“Hi John, thanks for your feedback to the comment I left on Betbotpro. I set the stoploss to £500 because although I could have set it to £4000, I don’t really want to lose that much in one day. As it turned out it could well have been a good move as I think that after the stop loss was hit, another 2 faves came in at Swindon and Monmore and christ only knows what the losses would have been then. Perhaps I should have set my recovery to less than 60 percent and been more conservative.

Anyway, below is the tale of woe. I’m not quite sure why the bot missed the 13.33 at Hall Green which would have broken up the sequence and why in the 13.51 at Hove I laid the winning fave when, even though I used your settings to place bets 30 secs b4 the off your bot laid a different dog. The same goes for the 2.06 at Hove, the loss for £429 that took me over the stop loss where your bot did not lay the winner Mythical Dream and mine did.

Anyway, best of luck with your punting. I’m not sure I will go back to Betbot. I notice from analysing your results for yesterday that you were flying by the seat of your pants at times, and one wrong result on those large recovery lays and you could have hit the 4k loss quite easily.” My comments are below the images.

BetbotPRO lays show some distinct differences. We both lost on Head Iton Rodders but the stake was different. Justin’s looks like a recovery but for me it is not as you can see above. A further recovery is then needed but the amount is based on settlement. If BetbotPRO knows there has been a loser 7 minutes earlier then the recovery is initiated. It looks like settlement has been made in that period. Dogs are usually quick. Horses can be up to 30 minutes!

We then move to the 13.27 at Hove – a track that both of us know well. Caloona Cruz wins – another loser for us! Then I go to the 13.30 at Newmarket and it appears Justin is only on the dogs because no bet is made for him. Then the next horse race at Redcar BetbotPRO successfully lays a loser but Justin, unfortunately, has no interest.

Justin writes I’m not quite sure why the bot missed the 13.33 at Hall Green which would have broken up the sequence”…hmm. Well not so fast, my friend. You’re right, it would have broken up the final sequence but not, necessarily, the stake escalation. That depends on settlement. I mention that here for the interest of others. On the dogs which has quick settlement you may be right but in my case with horses as well the escalation continued for me because the horse markets hadn’t been settled.

So I’m back with Justin for a loser on Clairketh Gypsy in the 13.44 at Hove. However, my stake is somewhat smaller. I may be able to explain “…why in the 13.51 at Hove I laid the winning fave when, even though I used your settings to place bets 30 secs b4 the off your bot laid a different dog.” The reason is around this time if I’m here I do regularly change to 2nd favourite manually. I’m sorry if you haven’t seen that Justin.

Now moving to the next for Justin – I had another lay that lost at Newmarket in between as you can see above – we get to Mythical Dream who was the favourite and, again, I laid the second favourite. Whether this is an important lesson or not, only time will tell. But, as I’ve mentioned before, I will ask Mark to include on the next upgrade an ability for BetbotPRO to choose a different favourite for dogs and horses. Certainly it was important on the day referred to.

Finally, sorry for your loss again Justin and thanks for your help in allowing me to analyse the differences between our two settings. Finally, I will say this again. And Justin I am not having a go and I understand your position. But a Stop Loss of £500 used in Justin’s case is way, way too tight for this method of staking. With the Stop Loss at that level I would recommend no more than an Initial Stake of £0.15 and not £1.00.

Another day ladies and gents so good luck, as always.

And we’re still going strong! It happened on Sunday 19th October and the full results are here. There was a carry over recovery so the Initial Stake started at £6.45 on the first race in South Africa. Which was also the first race of the day. Seven losers later and the recovery stake had grown significantly to a lay of £508.47. Then we had a run of five consecutive winners – for BetbotPRO – fortunately. All bets were on the favourite in each race.

At one stage – before settlement of the last two losers – the exposure would have been around £4000. Interestingly, if the market hadn’t been too thin in the 12.15 South African Race 3 when the favourite I Got Vision was beaten by Captain Proudfoot then it would have increased the profit by £594.40 if BetbotPRO had got fully matched. And the Captain went off evens. Value there then. I’ll settle for the profit that I got though.

Now take a look at this. It would appear that BetbotPRO got so excited at the recovery from that position that he decided he’d had enough and did no more recoveries for the day. You can see in the picture that there should have been a further three recoveries but they weren’t started. And there were several more as you can see from later results. So, again, this impacted on the profit for the day and if we’d been matched earlier and the recoveries continued it would have been a vastly more profitable day. The recovery issue continued in to Monday as well and I had to re-install BetbotPRO in to a new folder. This solved it – lucky I kept my security key! The result for the that day was actually £2 better than stated. C’est la vie.

Well, a substantial losing day still has to materialise after 19 days with only one small loss. Rest assured, it will happen though. So stay tuned. And the radio shows will be coming soon. Thanks to Blog Management for the great new look this morning. Cheers Lee. I hope you like it.

Finally, there was a great post yesterday by Leon over at Don’t Give UP Your Day Job which was concerning Betdaq and he writes “…that it is possible to get bets matched on Betdaq – come on you fellow traders and punters get off your arse and get to Betdaq for the good of us all!” I couldn’t express it better myself mate. He’s agreed to be a guest on WUBT Betting Exchange Radio so you’ll hear more from him soon.

Good luck to you all, as always.

I have now had an opportunity to review the 2000 or so selections Betbot PRO has made since October 4th 2008 based on my criteria. I have included South African and US horse racing but with the current limit to 100 winners – which Mark says will be changed in the next BetbotPRO upgrade – I am of the opinion that because most of those markets aren’t covered fully we might as well just stick with UK horse racing and UK greyhounds. Currently, many evening greyhound meetings are missed because of the limit to 100 winners. Today there are 122 races so I anticipate we’ll have an interest in most.

This change came in to effect yesterday. I have also changed the maximum odds to 6 on both. This will impact on the number of recoveries required each day but based on the data I have now the exposure will be well within BetbotPRO’s limits. However, the first day of the settings change is also our first losing day.

It was all decided on the last at Romford – never liked that place! A difference of just over £340. Have I made the right move? Only time will tell. And remember that the recovery continues today so it will be an Initial Stake of £241.25 on the favourite at Nottingham in three hours. Wish me luck!

Finally, I must re-iterate the Stop Loss I use is £4000 because of another comment made last week. Please, ladies and gentlemen, you will lose regularly if your Stop Loss is too tight and the profits you make on the days where your Stop Loss is not hit will NOT be sufficient to cover your losses. Simply, for a £1 initial stake you need a Stop Loss of £4000. For an initial stake of £0.10 you need a Stop Loss of £400. And your bank should be at least three times your Stop Loss. I trust everyone understands the relationship of Initial Stake, Stop Loss and Bank. And please make sure you also set maximum unsettled bets to three and a back/lay % to a maximum of 10%. These two settings are critical and cover your exposure and the ability to avoid thin markets respectively.

Ladies and gentlemen, have a great day and good luck to you, as always.

I’m half way through my month review of BetbotPro and an interesting two weeks it has been. All Bet Bot Pro settings have remained the same apart from varying the choice of lay between 1st and 2nd favourite around the start of the UK horse racing on some days. This is after we’re well in to the UK dogs and is done manually.

We have covered all the bot selections for UK, US and South African horse racing and UK greyhounds up to around the limit currently allowed by the bot which is 100. Oddly, on some days, there have been 130+ lays which seems to exceed the limit allowed substantially. Why? I don’t know.

There have been occasional missed recoveries which have sometimes gone in my favour but, of course, more often not. When I have had the opportunity to watch the bot in action I have noticed that when there is a recovery then another loss shortly after there may only be a single recovery. A recent example yesterday – but there have been several others – was a loss at 19.25 at Louis of £36.40 then a recovery one minute later relating to a loss at 19.10. Recovery completed 30 minutes later of 22.84 relating to Louis and that was it so the following race reverted to the initial stake again where the stake should have been another £22.84. We got £1.00 sadly when Paddy Crow obliged and lost – a win for us but £21.84 short.

That is one example and there may be an explanation but when I’m set to recover 60% over two bets and you don’t see two consecutive stakes larger than £1 it does rather stick out for my eyes. If you take a look through the results here there are several more examples of this on other days.

On another related note there are many recoveries for three and occasionally for four bets. This is easy to explain. This is simply due to bet settlement delays and is unavoidable.

So, where are we financially? 14 days and approximately 1700 bets later we are at a profit of £3140.83 gross without a losing day… yet! Based on my studies I expect one losing day every month. The goal here is to achieve a net £1 profit on every selection so currently there is approximately £1400 set aside for such an event. To be comfortable we need to continue as we are and if we do then one losing day with a stop loss will not have a big impact over the month. Two losing days, however, will be a nuisance.

Ladies and gentlemen, have a great day’s racing , a fantastic weekend and stay safe wherever you are. And, good luck to you all, as always.

Try BetBotPRO with a free 3-day Trial — Click Here

It looks like we might not get past a double digit profit today. It could even turn in to our first losing day. Why? Very few consecutive winners (losers for me). So the recovery – or chasing your loss, if you wish – hasn’t really got in to its stride today. The ideal day is where we have two or three consecutive losers on seven or eight separate occasions. Oh well, c’est la vie.

The profit over 77 races and 63 lays currently stands at £60 for today. Normally at this point in the day – (Where’s the timed posts Lee? ) – would be £100+. The time in the UK at the time of post is 17:50. The full day’s results will be up as usual in about 4 hours or in the morning.

But don’t forget our new section which will is published automatically at 11.00pm UK time every night. It features all the beaten favourites from their last time out which will be running the next day. I hope you’ll find it useful. And thanks for your kind messages and encouragement – here and elsewhere. You know who you are. It makes it all worthwhile.

There are many “edges” you can get in this and other financial markets. The traditional way to get an edge in horse racing is to study the form and career stats for horses, jockeys and trainers and research course stats by meeting for jockeys and trainers with runners at a relevant meeting – and loads, loads more.

Bet Bot Pro will not, of course, do any of that for you. It’s simply a mechanism for placing bets, either on your specific selections (where hopefully you’ve done some or all of the above) or going against or with the 1st, 2nd, 3rd or 4th favourite.

Bet Bot Pro can automatically place Back OR Lay bets on UK, US, AUS, RSA Horse & UK, AUS Greyhound races depending on your criteria. It’s a massive timesaver. It takes just 5-10min to make your daily selections.

It’s got a Min – Max odds range filter – this only places bets if within your limits. It can place bets 1 second to 10 minutes before the race starts and has a min – max number of runners filter. If you want to focus just on a staking plan – which is what I do a lot in this blog – then there are loads. Level stakes, % bank stake, fixed liability, % bank liability and my favourite, a powerful % recovery staking.

It has a stop loss and profit target which ensures you limit losses for the day and stops when your profit target his hit – a great safety feature and one I use every day. And a trailing stop feature to protect profits already won.

A % Back/Lay ratio filter which stops betting if the back/lay spread is too big which I use at 10% every day. And an unsettled bets allowed filter that stops betting until last x bets have been settled. Mine is set to 3.

It has a simulation mode which allows you to test your strategies, tipsters services or your own ideas without risking REAL MONEY! You’ll be able to see if you can find an edge!

And Bet Bot Pro runs while you’re away – at work or doing other things and it saves you sitting at your PC all day.

An edge in the traditional sense? Maybe not. But a huge time saver? Definitely! And saving time is the biggest edge you’ll ever find in life. So you can do what you want, when you want, where you want. It’s magical. Life is for living.

Laies and gentlemen, good luck to you all as always and have a great day.

PS. The server move is now complete and posting allowed again and you should see it’s quicker – please let us know.