When you talk about automated betting, different things come to mind. In this article, I will be discussing the use of computers to automate and assist in horse-race betting.
With the advent of the Betfair API it became possible to start using fully automated betting programs (or bots) that needed no human interaction. People thought that they could start making buckets of money overnight. As the bots ploughed money in using rules that didn’t work, the reality was that most people who jumped-in ended up losing more money than previously. The question is, ‘is it actually possible to make totally automated profits?’
There are currently a number of products on the market that you start in the morning, and leave to ‘make you money’ until you get home. But do they actually make you money – or lose you money? I have tested a few of these products. Personally, I would never leave a piece of software to bet for me that I had not designed, unless I knew from the programmer exactly how it bet.
One particular well known piece of software uses a loss-recovery system on the place market, aiming to make a percentage of the bank in profit on every bet. The idea of leaving a piece of software where the bets can escalate at such a high rate is very frightening and not a little stupid.