ARTICLES & TIPS

Market monitoring settings


Written by Bf Bot Manager, 17th April 2013


For any questions regarding this article/strategy please use article forum thread and ask Bf Bot Managerdirectly!

In our General Options manual we explained how main markets data grid view works and said that bot only tries to bet on markets that are being monitored. Because of that market monitoring has large effect on the way bot works.

If we want bot to bet during in play then we need to set main markets data grid view to monitor markets during in play, and if we want only to place bets before in play then there is no need to monitor markets during in play and we can make less requests to Betfair API by setting main markets data grid view to stop monitoring markets after official start time.

There are few common market monitoring settings that most users use. Those are:

  • Monitoring horse/greyhound races until they go in running
  • Monitoring horse/greyhound races before and during in running
  • Monitoring just one race during in running until it ends
  • Monitoring multiple football markets until match ends
  • Monitoring multiple football markets until half time
  • Monitoring multiple markets until start time

Each chapter below contains screenshot with recommended settings. You may adjust those example settings by your needs. Those are just example settings and it is possible that your strategy might need fine adjustment of those settings to get optimal performance.



This article discusses only ways to monitor markets and to optimize number of requests made to Betfair API. Bot settings and specially time of bet within bot needs to be also set so that they allow bot to place bets at the time when market is being monitored e.g. setting time of bet within bot to 5 minutes after market goes in play and setting market monitoring settings to monitor markets until start time will result in no bets because grid will not be monitoring market during in play. To make this work you should set grid to monitor market during in play and when your time of bet is also satisfied then bot will try to place bets.



All examples below use 1000ms (1 second) refresh rate, this will give you highest possible refresh rate with Betfair Free API. This is more than enough for all our bots. It is recommended that when running bots in simulation mode you reduce this refresh rate to 2000ms or 3000ms (or even less, depends on your strategy), so that bot makes less requests to API.

Monitoring horse/greyhound races until they go in running

Monitoring horse/greyhound races until they go in running
Horse and greyhound races usually start every 5 to 10 minutes and in most cases we want bot to place bets few minutes or seconds before start time. In this case it is important to start monitoring market on time and to monitor market until race goes in running.

Settings on right side image will monitor market until it goes in play/running and grid will start monitoring markets 300 seconds (5 minutes) before official start time.

Max of 10 markets will be monitored if their official start time is within next 5 minutes. This ensures that bot also tries to place bets on markets that are starting at same time or few minutes after first market.

If market does not go in play 10 minutes after official start time then main markets data grid view will stop monitoring it.

Markets will be removed from main markets data grid view after 24 hours. When running bot continuously for several days this is very useful as it will free memory. If you are not using overall loss recovery or some other staking plan that requires data from markets that ended in last 24 hours then it is advised to tick this option and remove markets from main markets data grid view. If you need data for later analysis then you should not tick this checkbox.



Monitoring horse/greyhound races before and during in running

Monitoring horse/greyhound races before and during in running
When trading or betting during in play it is important to have high refresh rate. To achieve this it is recommended to reduce number of markets that can be monitored at same time to 2 or 3. That way, if two markets start at same time, main markets data grid view will monitor them both and allow bot to bet on both markets.

Important setting here is to set to monitor market until "Suspended for N seconds". In most cases if horse/greyhound race is suspended by Betfair for 45 seconds that means that race is either finished, ended or it will never go in play. If race is suspended for 45 seconds and has start time in past then main markets data grid view will move on to monitor next market.

Those settings are very useful for horse and greyhound races as those market are available for betting during in play for only few minutes, and next race usually starts within few minutes after current race or even at same time.



Monitoring just one race during in running until it ends

Monitoring just one race during in running until it ends Trading during in running for horse races requires highest refresh rate and because of this it is advised to monitor only one market. By monitoring just one market bot will have refresh rate of 1 second.

Refresh rate of one second is fast enough for most trading bots. Race should be monitored until market is suspended for 45 seconds.

Those settings can also be used on other markets, like football, when trading only on single match. But in that case it is advised to monitor market until it is suspended for 1200 seconds (20 minutes). That way in case of red card, penalty or temporary suspension of match bot will wait for 20 minutes for market to return to in play before moving on to next market.

Usually for football matches such high refresh rate is not needed because matches last for almost two hours and all bets have delay by Betfair of 3-8 seconds, so there is no hurry to place bets.



Monitoring multiple football markets until match ends

Monitoring multiple football markets until match ends At weekends there are hundreds of football matches in Europe and most of them are played at same time. If we want to bet on all of them then we will need to monitor them all at same time.

Setting max number of markets to monitor to 500 will do this, it will monitor up to 500 markets at same time. Markets will be monitored from 25 minutes before their start time and until they are closed.

Refresh rate is set to 1000ms (1 second) and like explained in General Options manual this means that if grid is monitoring 120 markets at same time that each market will be refreshed every 120 seconds. For football matches this is acceptable refresh rate. Even monitoring 300 markets would give refresh rate of 5 minutes which for most football betting strategies is fast enough.

If your football strategy requires higher refresh rate then limit number of markets to monitor to lower value e.g. monitoring max of 60 markets would give refresh rate of 1 min, and monitoring max of 10 markets would give actual refresh rate of 10 seconds.



Monitoring multiple football markets until half time

Monitoring multiple football markets until half time
Some users have betting strategies that only place bets in first 45 minutes of football match. In such cases there is no need to monitor market until match is finished and market is closed.

In those cases it is best to set to monitor market until "N seconds in running", that way grid can stop monitoring market after N seconds and move on to monitor some other market or simply give bot higher refresh rate because it will be monitoring less markets.

To make grid monitor football match for first half time only, it is recommended to set to monitor market until 3600 seconds (60 minutes) in running. This is longer than 45 minutes so it includes extra time and any delay if match starts late.



Monitoring multiple markets until start time


Monitoring multiple markets until start time If you are placing bets on your own selections or selections provided by tipping service then in most cases you will just want to set bot to place bets safely before in play.

To do this it is best to monitor markets until official start time and to start monitoring markets 25-30 minutes before official start time. That way bot will have enough time to place bet on market.

You should also set to monitor max of 500 markets at same time if you are betting on football. For horse/greyhound races you can set to monitor max of 20 markets at same time as it is very unlikely that more than 20 races will ever start within 25 minute interval.



Written by Bf Bot Manager, 17th April 2013


For any questions regarding this article/strategy please use article forum thread and ask Bf Bot Managerdirectly!