Tutorial 3 – Smart Bets and Betting on the Edge
Today we will explain what is ‘Smart Bets’ and ‘Betting on the edge’ and how you can use these features to successfully trade with BetMarket Trader.
Smart Bets is an option which gives you an ability to automatically compute the stake amount for the trading bet. Using Smart Bets feature you can create a Win/Win trading situation where you are making a profit regardless from the event result. How it is possible? When you are in Trading Mode (to learn more about this read our Trading Tutorial) the application places a trading bet for you after your first bet. Enabling Smart Bets option you force the application to analyse the difference in prices between two bets and automatically calculate a stake for the trading bet. By default the application spreads your profit between lose and win in equal parts. However you can setup it to get profit of, say, 70% if the selection won and 30% if it lost. You can control this parameter (win percentage) in the Settings dialog which you can see bellow. Take a look at Win Percentage input box.
What percentage you should use? Well, it is up to you and depends from your trading style. Some traders prefer to create a maximum profit if the traded horse won and others like to be sure that they will be in profit no matter which selection won.
Now lets talk about another useful feature, Swap function. When it is enabled the application will place a Lay bet if you’ve clicked at Back cell of the book and vise versa. This gives you an ability to use prices of the different bet types and bet faster. Let suppose we have a situation when Back price is 1.65 and Lay price is 1.66. You want to place a Back bet at 1.66. Without Swap feature you would need to enable Confirm Bets function, then click on 1.65 Back cell, adjust your price to 1.66 and click Confirm button. All this is time consuming. However you can simply enable Swap function and click and 1.66. And that is all, your bet will be offered to the market. This feature also makes it possible to use so called ‘Betting on the edge’ trading technique when you are placing Back bets at lay prices and Lay bets at back prices.
In the next tutorial we will show you how to use BetMarket Trader for In-Play betting.
You can download all our software for free here: Download. Happy betting!