Stake Size

[joben1]

Hi,

It will be my first day betting with Flat Racing tomorrow and have a question.

Using the Gruss Bot with Betfair, you can place bets below the Betfair min stake of £2, so why can’t we set a stake below £2 in the spreadsheet? As I understand it, if you set the stake to £2, it is possible to have a stake of £12 on one selection if it is selected by all 6 models. I really don’t want to start at this level of staking.

Regards
Paul

[nick257]

hi paul, and welcome

there’s a few options open to you.

set the model congruence threshold to 6. then the stake can be £2.00 / 6 = £0.34. this is for betfair

for betDaq.. the minimum is £0.50.. same formula, £0.50 / 6 = stake of £0.09

[joben1]

Thanks Nick, but won’t that mean missing a lot of bets?

Have you considered having a ‘Pre Race Only’ option? That way stakes lower than £2 will be able to be placed. I think it would be rare for stakes that low not to get matched. I’m very cautious with services I’m new to. I like to build a bank slowly starting with low stakes; that way you can build your confidence in the service while building your bank, and without worrying too much about possible losses in the beginning. I know there’s a ‘simulate betting’ option, but I’ve personally found that it’s no substitute for live betting.

Also, why do you have the refresh rate at 5? I’ve had the software for years and have it set at half a second with no problems.

Cheers
Paul

[nick257]

Hi Paul,

Yes, model congruence reduces the number of bets, but increases the ROI (you win more often, when more models agree on the same runner, the downside is fewer bets). If you are a member of “Smart Betting Club” (?) they have made an in-depth report on our service that explains this further.

There is another option in the spreadsheet that you might like to try… We bet with 6 prediction models, you can leave congruence at “1”, but disable, say 5 of the 6 models. Again, this will result in fewer bets, but will give you a taste of how the system works.

The £2 limit is not enforced by us. This is the Betfair enforced minimum. If you try to submit a win bet with a stake less than £2.00 on Betfair it will be rejected (I might have misunderstood your question here – apologies if so). The minimum stake on BetDAQ is 50p.

Building your bank slowly is a great idea. Again SBC have included a guide on a suggested Bank size (in points), well worth the investment in their joining fee to get access to this report (and see how we compare to other tipsers).

Ref: the refresh rate of 5 seconds… we’ve tested this at lower intervals – unfortunately it causes the spreadsheet code to lock up. This might have been a “feature” of the (intentionally) low spec PC’s we used for testing, by all means try it a try at fast refresh rates, but we can’t guarantee you will always get the tips.

Edit: The recommendation is to use the SP (At present). So the refresh rate is immaterial.

Cheers
Nick

[joben1]

Hi Nick,

It is possible to place bets lower than £2 on Betfair using software pre race, including Gruss, even as low as 10p. This is how they do it:

How to bet less than £2 on Betfair Exchange

You can try it yourself by placing a bet of say 50p manually using the software. I have been doing it for years.

Cheers
Paul

[nick257]

Hi Paul,

Yes, knew about this workaround… but we can’t risk the wrath of the Exchanges I’m afraid (strictly speaking it’s against their T&C’s). So, sorry, but no, we won’t be implementing this feature.

Cheers
Nick

[joben1]

Okay Nick, that’s fair enough.

Doing well today.

[joben1]

Hi Nick,

I’ve decided to use 3 of the models to begin with. Do you have a view on which ones to use?

Cheers
Paul

[nick257]

Hi Paul,

Generally models 1 and 4 slightly outperform the others (not much to choose between them).

Good luck!

Cheers
Nick

[joben1]

Thanks Nick.

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