Hello! I have just downloaded MarketFeeder; I'm new to the bots world, I have been using Betfair for 5-6 years, but always manually, and now I would like to automate a strategy on basketball.
I'd appreciate if someone can tell me if this strategy can be automated, and is it difficult to do it; if I was to hire someone to do it, what would be the approximate price.
Let me describe it in details, on example.
Sport is always basketball, market is always moneyline, bets are always back bets, and always in-play. Stakes are level, so stakes in various bets do not depend on each other, although I need to update the stake, usually on a weekly level (that means, I set the stake, and that's level stake for all bets untill I change the stake).
Here are the inputs that I need to define before match; they are different for each match, I juste give these values as example, for easier understanding; I will explain what they mean later in the text:
Input 1: Match (select the matches to bet on).
Input 2: Team to back - depending on odds fluctuation, it may be only home team, only away team, or both teams.
Input 3: Waiting time - 30 minutes
Input 4: "Go-to-action odds": 1.50
Input 5: Traded amount: 100 EUR
Input 6: Place bet tick offset: 3
So, here is what I need:
Monitor the selected match, and take note when it starts, i.e., when it goes in play.
Don't do anything during "waiting time", in this example, don't do anything for 30 minutes (specified in input 3).
At 30:00 minutes after kick-off, check the current back odds for selected team (selected in input 2: home team, away team, or both teams).
Scenario A:
If current odds are lower or equal to "go-to-action odds" (input 4), then check traded amount at those current odds and lower odds (i.e., if current odds are 1.40, check traded volume at odds of 1.40 and lower).
If traded amount is higher or equal to 100 EUR (input 5), place back bet at 3 ticks lower odds (Input 6); in this example, if currently available odds are 1.40, place back bet at 1.37.
If traded amount is lower than 100 EUR (input 5), monitor the market. As soon as traded amount reaches 100 EUR, place back bet at 3 ticks lower than LTP (last traded price), if they are still below 1.50 (although they should be, but you never know if there will be a sudden drop or rise of odds; that means, never place back bet at odds above 1.47 in this example). Let's say, current odds are 1.40; bot monitors traded volume at 1.40 or lower, and it reaches 100 EUR when current odds (LTP) are 1.38. At that moment, place back bet at 1.35.
Scenario B:
If current odds are higher than "go-to-action odds", monitor the market. As soon as current odds drop below specified odds and traded amount at specified or lower odds reaches 100 EUR, place back bet at 3 ticks lower than LTP.
Example: Current odds are 1.60. Monitor the odds. When odds drop to 1.50, monitor traded volume at 1.50 or lower. When it reaches 100 EUR, place back bet at 3 ticks below LTP - if LTP is 1.46, place back bet at 1.43.
Traded volume at specified odds or below is total traded volume during the entire match, not only after 30th minute. I mean, if odds drop to 1.50 or below in 10th minute of the match, with traded volume, say, 40 EUR, then odds rise above 1.50, and then drop again after we start monitoring them, after 30th minute, bet needs to be triggered when total traded volume at odds of 1.50 or lower reaches 100 EUR, and not 140 EUR.
Looking forward to some feedback, hope it's not too complicated!
Thanks!
Just to clarify input 2 a bit more, I'm not sure I explained its role well enough, and there is another issue in that case.
So, I need to choose only one or both teams to monitor and back. Say, if I choose only home team, then bot needs to monitor odds and traded volume only for home team, and back only home team when/if criteria have been met, as described above. If I choose only away team, then the same only for away team. But if I choose both teams, then bot needs to monitor odds and traded volume for both teams, and if either team meets the criteria above, back that team.
Now, it could theortically happen that both teams meet the criteria (I didn't have it in my practice so far); but I want to place back bet only on the team that first meet the criteria - so, once the back bet is placed and matched, stop the bot, don't do anything else in that market. It's important "and matched" - if bet is placed, but not matched, then keep monitoring, and place bet on the other team, if it meets the criteria later.
The same applies for scenarios A and B above - once the bet is placed, but not matched, keep monitoring; but if odds rise above 1.50 and then steam down again, don't place another bet, regardless if previous one was matched or not! So, let's say, if only one team is selected, stop the bot after bet has been placed; if both teams are selected, stop the bot after bet has been matched.
If this makes the things too complicated, then forget about selecting both teams - that doesn't happen frequently anyway, so just do the part when only one team - either home either away team - is selected.
What should be paid attention to; US markets are displayed as Away team @ Home team (away team listed first), while rest of the world uses notation Home team - Away team (home team listed first); not once it happened to me to place bet on wrong team in US markets because of that...
