Ipposnif : Betfair Horse Racing Betting Automation
Horse Snif

What is a strategy

A strategy consists of a set of criteria that defines which runners, when and how much to bet on them.
The difference between a professional bettor and a gambler is the will to apply a strategy to the bets.

Manual betting

With the Manual bet strategy you can place Back or Lay bets in the number and with the size you want.
This is a no-strategy, because it gives you the task of chosing of "who, when, and how much" to bet.
If you don't know those three and you place manual bets without any criteria, you are actually a gambler.
If you like this exciting but inconsistent way of betting, my advice is to set up a daily stop loss limit and to respect it.

The variance: a good reason to use automation

The variance is the ability of the events to occur with a frequency different from what we expect from their mathematical probability.
Basically in every strategy there are phases, sometimes very long, in which the events are persistently against us.
In these phases emotions give us a bad view on the effectiveness of the strategy and it can be difficult to remain committed to it.
Using Ipposnif automation, protected under the strategy capital limit, you will give time to the strategy to show its consistency.

The R.O.I. (Return On Investment)

It is the percentage ratio between the net earnings and the total sum of risked money.
Basically it is a metric of the quality of a strategy: if it is positive you are earning money, if it is negative you are losing money.
If you have a knowledge of the sport you are going to bet on, you can use it to increase the ROI: you can exclude races or runners, that accordingly with your experience, could not fit well with the strategy you are using. If your knowledge of the sport is valuable, the positive effects will certainly be forthcoming in the mid-long period.

Betfair 'Market Base Rate' and 'Discount Rate'

Every time you get a win on a market you pay a percentage of this win to Betfair. This percentage, called "Market Base Rate", may vary from market to market and can depend also by the country of the player. On UK races for European players it is 5%.
More bets your strategy produce, more wins you get and more fees you pay. There is no compensation with losing markets.
If after one or more bets your strategy balance remains the same of the start, this means that your strategy is profitable but you paid all your earning in fees.
You can reduce the fee percentage using the Discount Rate provided by Betfair to the most active players. You can arrive to pay a minimum of 2% on winnings. A strategy that goes even with a fee of 5%, is a winning strategy with a fee of 2%.

2 customization levels: properties and code

Each strategy exposes a certain number of properties that can be easily changed by the user through the Configuration Frame.
Some strategies have few properties (for example Manual Bet) because the largest part of their behavior is fixed in the code.
Other strategies have a lot of them (for example Auto Bet - Back Follow The Money) and they allow to change a lot of their behavior.
The strategies provided with Ipposnif cover a wide range of betting techniques, and they can be largely customized; but if you want to implement an original system or an original stake plan, you can create a new strategy.
With a structured logic of activation and connection of the bets, Ipposnif allows you to create almost every kind of strategy. Be it punting or trading, manual or automatic. You can adjust the code of an existing strategy, or develop a new one from scratch.

When to bet

The placement of the bet can immediately follow an action from the user (for example One Click Bet - Back), can be scheduled at a certain time before the start of the race (for example Scheduled Bet - Lay) or can be decided by the strategy when some conditions are verified (for example Auto Trade - Scalping Back).
You can link together two strategies, so it is possible to trigger a strategy depending on the activity or the result of the other one (for example if the first strategy is losing more than a certain amount, then the second strategy starts betting).

How much to bet

Every strategy contains the logic that defines the amount of the bets. It can produce a flat betting where the strategy bets always the same amount (for example Auto Trade - Lay The Draw (Soccer)), it can be a percentage of the capital including eventual winning and losses (for example Auto Bet - Lay Outsiders) or can follow a specific stake plan (for example Auto DAlembert - Back).
Every strategy has its own amount of capital, if it is lost, the strategy can reset itself for the number of times specified.

Market capacity

Each winning strategy has a maximum volume of money that can support.
Beyond this limit the market will trigger mechanisms that will exploit this excess of demand/supply in its favour.
So a strategy can work very well playing with 20€ and very bad playing with 2000€.
Do not expect to find easily the "holy grail" of the strategies, but cumulate several ones with a low return and you will reach the target.