BetMarket Trader Manual

BetMarket Trader is a comprehensive software for Betfair betting, exchange trading and arbitraging. It has been developed to make your betting life easy and successful.

Getting Started

1. How to open Betfair market

2. Trading on Betfair with BetMarket Trader

3. Smart bets and Swap Back & Lay features

Features Explained

Swap Back & Lay (reverse betting).

When this option is enabled the software swaps the type of the bet offered. If you click in the Back area of the market view the application offers Lay bet (normally it would offer a Back bet). The same can be said for the Lay area of the market view. If you click there, the application offers Back bet. Sometimes it is quite handy for trading because you can quickly bet at opposite prices. You have a choice to use it either by pressing the “Swap” box on the main form or by holding Ctrl key.

Enable Trading.

If this option is enabled the software places two trading bets (Back and Lay). The stakes and odds of these bets depend on other settings. To learn more about these settings read about Smart Stakes, Offset, Consequent Bets. Basically if you are placing the bet, the software will automatically calculate and place the second bet so that both bets (if matched) will make guaranteed profit.

Important: trading doesn’t work for bets placed using Lay All feature and BSP bets.

Manual Trading.

It is possible to trade bets manually. Here is how it works. First, you should place a bet. Then you can see a potential profit if you trade the bet at current prices. Look at the right-most column of the grid “Trade”. It shows the possible profit if the horse wins (top value) and if it loses (bottom value). So if you click it, the application will cancel all unmatched bets and place the trading bet at the current price which should close trading on the given runner. The trading bet is calculated the same way as the Automated Trading, however without Offset because it uses the currently available price.

Important: trading doesn’t work for bets placed with Lay All feature and BSP bets.

Consequent Bets.

You are able to place trading bets simultaneously or consequentially. The last means that the second bet will be placed only after the first one is fully matched. If Consequent Bets are disabled both trading bets are placed immediately.

Offset.

The Offset parameter sets the price difference of two bets. You can set the number of ticks between two prices. When Offset is high, you can expect a higher profit. However there is a possibility that the second trading bet will not be matched.

Smart Stakes.

When you are in the trading mode, Smart Stakes automatically calculate the stake of the second bet based on the prices to generate profit, no matter if the runner wins or loses. You can control the percentage of profit that  you want to make if the runner wins and if it loses. It can be done by changing the Win Percentage parameter.

Win Percentage.

When you are trading with Smart Stakes enabled, Win Percentage controls the percentage of profit which is generated if horse wins. Let’s suppose you have Win Percentage = 100. The application will place the second bet to create a ‘Free Bet’ (e.g. your profit is X if the runner won and profit is 0 if it lost). Now let’s say you have the Win Percentage equal to 80. In this case if the runner wins your profit is X * 80%. It the runner loses the profit is X * 20%. You can control the percentage on the Settings page. By default it is set to 50%, which means you make equal profit for win and lose.

Lay Stake and Liability.

Specify the stake for Lay bets. If you enable the “As Stake” function, the amount in the Lay Stake acts as the actual bet stake. Otherwise the application reads it as lay liability and automatically calculates the stake: stake = liability / (price – 1).

Bet Confirmation.

Option to confirm the bets before they are sent to the market. You can adjust stakes and odds or cancel the bet. You can see your potential profit/loss as well.

Important: the confirmation doesn’t work for Lay All bets.

Unmatched bets action

You can choose what to do with unmatched bets when market goes inplay. There are three standard Betfair options here: cancel bets, match at BSP and leave inplay.

Lay All Runners.

It is possible to lay all runners simultaneously at one preset price (lay the field). It can be useful during In-Play.

Important: when you are using this function, all bets are placed immediately regardless of the Bet Confirmation option. The trading is not applied to these bets. Be careful using this feature.

Preset Prices and Stakes.

You can setup preset prices to Back and Lay runners. They are available as 4th Betfair prices. It is possible to setup one price for Back and one for the Lay area. It is easy to change them during the trading by right-clicking the price column. Also you can use the Settings page to setup your stakes. Then you can choose them from the drop-down box on the main form.

WoM (Weight of Money).

WoM shows the ratio and difference between the amounts available to Back and to Lay. It can be used as a trend marker to predict price movements. It is possible to setup this indicator to use one, two or three Betfair amounts.

User Interface (Forms)

Main Form

On the main form you can find all trading controls. They are described bellow.

The Market View shows current market information with all the runners, prices and additional indicators.

On the Control Panel you can find buttons to control all functions as well as drop-down boxes with preset Back and Lay stakes. The buttons activate Trading, Stake as Liability, Smart Stakes, Consequent Bets, Swap Back & Lay and Bets Confirmation.

In the Bets Panel you can manage your bets. It is possible to Cancel All Bets, Cancel Selected Bets, Change Bet or manually Refresh your bets. In the top list you can see matched bets. The unmatched bets are displayed in the bottom list.

Settings Form
1. Connection Tab

Betfair Account – your Betfair username and password.

Proxy – if you would like to connect via a proxy server, tick ‘Use Proxy’ check box and enter here your proxy information.

Refresh – setup here how often you want to update prices. If you want to have the maximum speed when the event goes inplay, tick ‘Switch to zero when In-Play’.

2. Bets Tab

Preset Amounts – lists of Back and Lay stakes which you will be able to choose from the drop-down box on the main form.

Smart Bets – configure the Smart Bets option. Here you can set ‘Win Percentage’ for Smart Bets. When you are trading with Smart Stakes enabled, Win Percentage controls the percentage of profit for the case when runner wins.

Betting ‘On The Edge’ – you can use this function either by clicking ‘Swap Back & Lay’ button on the main form or by holding Ctrl key. To use the last option, check the ‘Use Ctrl for Swap betting’.

3. Options Tab

Wom – choose how to calculate the WoM indicator. The WoM can take in account first one, two or all three available amounts.

BSP Price – tells the software how what price to use for BSP bets. There are three choices:
‘No BSP price limits’ – accept any available BSP price.
‘Use Best Live Price’ – the best current price is used as limit for BSP bet. For Back bets it will be minimum and for Lay bets – maximum acceptable price.
‘ Use Custom Price as Min/Max for BSP’ – take custom price (4th price column) as your BSP limit.

Single Bet Form

Win P/L – profit/loss if the bet is matched and the horse wins.

Lose P/L – profit/loss if the bet is matched and the horse loses.

Double Bet Form

The blue color shows the Back bet. The Lay bet is pink.

Win P/L – profit/loss if the bet is matched and this selection wins.

Lose P/L – profit/loss if the bet is matched and this selection loses.

Net P/L – net profit/loss for this trade if both bets are matched.

Smart – enable/disable Smart Bets. When this option is enabled, the stake of the opposite bet will be automatically calculated.

 

Registration

You are allowed to use the trial version during 7 days. Then you may purchase a life time license for the software.

To purchase the application, go to http://www.betgrail.com/order/. You will receive your license key that can be entered into Registration form (choose Help –> Register from main menu) to activate your copy of the software.