Trading Software

You are never going to realise much of a profit by trading from within Betfair's website. The prices update too slowly and the ability to quickly place an order on the book is impossible. There are many software packages on the market to assist the trader. You can also develop your own software (as I and others have - see Programming for Betfair) or find a niche that doesn't require instant access to the order book, in which case you will return to the Betfair web page.

Amongst the third-party spftware packages I can only recommend Advanced Cymatic Trader as it ranks first in terms of value and functionality. In the past I have used Gruss, Bet Angel and Geeks Toy but now I prefer to program my own software. Gruss is now very dated in terms of functionality, whereas Bet Angel is more expensive than Cymatic and Geeks Toy not as functional. The marketing methods of the last two leave a little to be desired too.

If You Can Write Your Own Software Then Do So

Betfair provides an API to permit a programmer to connect with Betfair's servers and perform transactions. If you can program a computer or can get someone to do it for you cheaply then the best trading software is the one that you design yourself. Most of the fancy tools in commericial software just aren't worth the bother. Odds ladders probably drag people into so-called "scalping" and, if unprepared, guarantee themselves a loss. Other tools are copied from the financial world and are inappropriate for sports trading.

There are many things that third-party software cannot do. As you gain in experience and knowledge you will begin to think to yourself, "If only the software did this." Rather than announcing it (and your strategy) on an online forum, code it yourself and gain an advantage. Using third party software with which to trade constrains you to the capabilities of the software and does not allow your imagination to try new avenues of thought.

Pros
  • You get exactly the software you require. 
  • Secure software with no third-party involvement.
  • No possibility of a third-party monitoring your trading.
Cons
  • You either have to program the software yourself or design and have it programmed for you. This can take quite a length of time to achieve depending on your abilities.
Verdict
  •  It's hard work producing your own software but well worth it. There are no limits to what you can achieve.
Links

Programming for Betfair, a guide to creating sports trading applications with API-NG. Takes the novice from start to finish, coding their own trading software.




A computer scientist models the game of Jai Alai using Monte Carlo methods to build a profitable betting strategy.







Third-Party Software


By far the best third-party trading software has to be Advanced Cymatic Trader. Gavin, a fellow computer scientist and the coder of the software, appears only to be either coding his trading software or discussing how to improve the software on his user forum, and it shows.

There are far too many features to list here. Some of the features include include; Advanced Charting for monitoring price movements as you would financial instruments, Position In Queue to let you know how quickly you can get your trade matched and an Automated Trading Robot that will carry out automatic trades for you. Also included is Excel spreadsheet integration, putting the software on a par with Bet Angel.

If you are a user of any of the other third-party packages listed here then I strongly suggest you switch to ACT. None of the other third-party packages offer anything in addition and you could save money.

Pros
  • Comprehensive trading software - Position in queue, auto and simple bot trading.
  • Supports trading through Excel. 
  • Excellent open forum where improvements to the software are discussed between coder and users.
  • No hard sell or dodgy marketing methods, unlike some other third-party vendors.
  • Does all that Bet Angel does for £59.99p.
Cons
  • The only thing against ACT is that there is no BetDAQ version.
Verdict
  • Initially, ACT was free but at less than £5 per month for a yearly subscription it offers the best value. Gavin is constantly improving the software. If there is anything you need or don't like about the current software then send Gavin a message on his forum and you will see the change within a few iterations of the software.
Links