I just thought I would post this so everyone can be aware of the Betfair 5% commission when trying to work out a winning system.
I have had Rade's fantastic bot (V1) for over a year now and have tried various system, etc, however (to tell you the truth) I have not had that much luck. Please don't get me wrong though, my luck has nothing to do with the bot. The bot does exactly what I tell it to do. My problem is I haven't really come up with a winning system.
So, to get back to the 5% commish. I was going through all the data that I have saved in that time and, with a bit of number crunching, I came up with a winning system, that is, a winning system according to the bot's raw figures. But then I thought I'd better check the figures out if I factored in the 5% commission as I was (stupidly) thinking that all I had to do was deduct 5% from the figures. How wrong could I be ?
For example, I was going through the bot data for a one-month period and found a system that would of given me $78.90 for the month betting $1 level stakes. I thought I had found the Holy Grail!! But then I checked to see what would happen if 5% was taken off all the winning bets. To my shock and horror the figure came out at $25.30 . Now $25 per month for $1 level stakes would be great if I could repeat it but the fact that my $78 figure would be reduced by 67% to $25 is a sobering thought.
By the way, I started betting the system for real $1 level stakes 17 days ago and am up $21.71 on the bot figures but am down $13.88 on the Betfair figures.
So, while you guys are coming up with your systems just make sure you factor in the Betfair commission or maybe get V2 which apparently has the commission part built in.
I've still got my fingers crossed that the system I'm trying will work out.