Tag Archives: creator

Automated Betting

Today we have a new article from Malcolm Pett the creator of the Grey Horse Bot.

To find out more about the GreyHorse Bot visit Malcolm website here http://greyhorsebot.com
—-
Knowing when to say enough is enough…

One of the reasons I originally created the Grey Horse Bot is that it allowed me to automatically stop betting.

And it also stopped me chasing loses.

I started in the early days with greyhound racing (that’s where the “Grey” comes from) and I followed a “Stop at a winner” system.

The problem I had was that even after that first win I couldn’t help myself starting again.

There were so many Greyhound races everyday that if I won early, it was just too tempting not to try again.

Of course you know what happened next…

…I couldn’t get a winner.

This led to the second problem of not knowing when to cut my losses.

Creating the Grey Horse Bot allowed me to “set and forget” knowing full well the bot would either stop as soon as it got a winner or if I hit my stop loss.

The other problem with Greyhound racing is that Bags races happen every 10 minutes and it is so easy to miss a race when the phone rang or you start chatting to someone.

Even reading an email can be enough to take your attention away from the racing just long enough to miss a race.

Having the Grey Horse Bot do everything for me just made life a lot easier.
The next step was to run the bot on a VPS or server that was permanently attached to the internet at all times.

This meant I didn’t even have to think about the bot, day to day.
Our longest running test was over 6 month’s non-stop. It would have been longer except the server had to be reset for an important update.

Testing is a very important part of my day to day betting activity and although I am a great believer in “paper” testing and would suggest you always do this…
(The Grey Horse Bot does paper test as well.)

…It’s not until you actually bet live when you find out if the selections your following are going to produce a profit.

I think this is where automated betting comes into its own.

Having the ability to set aside part of your bank just for these selections and set a stake that is smaller than you would normally have to use, all helps in the testing process.

Here is an example.

In last week’s article I introduced a new test for a simple system I came up with using 2nd ranked runners based on the BSP early morning prices.

Here is the article.
http://dailypunt.com/one-winner-per-day/

So I set up a Grey Horse Bot on one of our servers and set aside a £10 bank for the test.

I like to use a % of bank as my start test stake.

This may not work well with all systems but I find it a good place to start.
And if the test goes well then your stake should naturally increases but if not, your stake drops.

If I know the strike rate of my system I normally work out the Longest Losing Run expected statistically, add a little and use the figure as my stop loss.

If not…I normally set it at an equivalent of around 20 to 30 points.

Your have to decide what’s best for you.

Once that’s done then all I have to is click “start” and let the bot do the rest.
The Grey Horse Bot can automatically download selections based on your own criteria or using the special links that are often given to our members when we start a new test.

The link contains a live feed that the bot checks every so often and if it finds new selections it automatically adds them ready to monitor.

There is a link in the member’s area for the test from last week’s article.

I love automation and it doesn’t get any better than this.

But best of all I no longer have to worry about missing races or stopping when I should, it is all done automatically.

Thank you as always for reading I really do appreciate it.

Malcolm


The Grey Horse Bot

http://greyhorsebot.com

Today's Selection

3:00 Bangor Clondaw Kaempfer – eachway bet 15/2 Bet Victor

Strike Rate Vs Odds

Today we have a guest post from Malcolm Pett of http://greyhorsebot.com

As you are probably well aware making money from gambling is about 2 things…
Strike rate and Average winning odds.

As strike rate goes up average winning odds can come down.

You tend to end up with two choices.

Low strike rate but high odds winners. This probably represents the real value end of the scale where you are picking runners that most people think have very little chance of winning.

Most of the time they are correct but every so often one comes in…

And normally at a very good price.

The strike rate of these systems is generally between 10 and 20%.

If you run a system like this then it’s probably better to use Betfair because the odds on outsiders can often be far better than you will find at the bookies.

Look out for long losing runs because these normally spell disaster for the un-aware punter.

Then we have the high strike rate but low odds end of the spectrum.

Here you are likely to be on the first or second favourite and value is going to be a real issue.

Strike rate should be in the high 30’s but even better if you can get to 40% or more.

Keeping an eye on your average winning odds is going to be critical and you will probably have to watch the exchanges and the bookies or even use a BOG bookie to get the best prices.

Your job here will probably be to match or beat SP as often as you can.

The perfect scenario would be somewhere in between the two but it is unlikely you will find one system that will have a reasonable strike rate with value bets.

Probably the best way to achieve this would be to use “Nano” systems.

On their own these types of systems have very few selections but tend to have strike rates of 20% or more.

Combining a number of them together means you have a better chance of getting a reasonable strike rate and achieving value.

It does mean you have more systems to follow but the long term profit could be worth the effort.

Over at the Grey Horse Bot website we test all these ideas.

At the moment we have a couple of tests looking to achieve strike rates of 40% and 50%.

As already discussed you will find the prices on the winners can be quite short but it can be surprising when you get the odd higher priced winner.

We are also running long term tests on system that have a much lower strike rate.
And you can see very clearly from the results that these types of systems have long losing runs and often only get into profit because of big priced winning selections.

When you decide on what type of system(s) to follow you have to ask yourself can you take the losing runs or are you prepared to look for the best price.

Otherwise a bunch of “Nano” systems may be the best thing for you.

Thank you as always for reading I really appreciate it.

Malcolm

Malcom Pett is the creator of the Grey Horse Bot http://greyhorsebot.com

Today's Selection

6.45 Kempton Gibeon – win bet – 7/2 Bet 365

Favourites That Win

Today we have our regular weekly column from Malcolm Pett of GreyHorse Bot.

You can try the Grey Horse Bot including the systems creator for just £17, go to http://greyhorsebot.com

Here's Malcolm…

Favourites That Win

As you are probably already know the chances of a favourite winning a race is around 34%.

That figure can be influenced by other factors like race type and price and can drop to around 27% or rise to over 50%.

So why would I mention favourites?

We know there is no value in following them.

So what about if we look elsewhere?

What’s the win averages of the other runners?

2nd priced favourits win 20% of the time
3rd priced favourits win 14% of the time
3rd priced favourits win 10% of the time

Again this is based around all race types and all prices.

This means that nearly 80% of all winning horses come from one of the top 4 priced runners in a race.


”Yeah I know all this” I hear you say…

In my last Daily punt article I talked about what I call “Nano” systems.

This is where you look for specific types of races where you may be able to find profit.

So here is another example you may want to check out.

Using the SPB System Builder I found a trend based around 6 year old horses in class 6 running at Southwell.

If they have won at Southwell before at the exact (exact) distance they are running at again and they are favourite…then they have won 54 of the last 100 (qualifying) races resulting in a BSP profit of 37.46 points.

The system also appears to work at Kempton and Wolves but not to the same extent as it seems to at Southwell.

So although blindly following favourites is not a profitable pastime there are places you can find that appear to show a return.

Finding high strike profitable trends is interesting but as you can see you have to be pretty specific about the runners you choose.

Thank you as always for reading I really do appreciate it.

Malcolm
The Grey Horse Bot.

http://greyhorsebot.com

Today's Selection

2.20 Yarmouth Spiriting – win bet – 9/4 Bet 365, Paddy Power

Horse Racing Ratings

Grey Horse BotToday we have our third guest column from Malcolm Pett of Greyhorse Bot fame.

—–

It’s strange how you see yourself…

I have always thought of myself as out going sort of person who likes a challenge and is not afraid to try something new.

Although I haven’t done as much as some people, I have had my fair share of adventures including, windsurfing, flying lessons, Scuba diving and sailing. Those are among some of the things I have tried and learned.

But while talking with some friends who I have only known over the last few years they said I was more of a “nerdy” type of guy.

When I quizzed them about why that was their impression of me?

Their answer was simply I am always talking about computers, programming, databases, 3d printers and lately quadcopters….. Nerdy!

Although I thought about defending my own impression of myself I have to admit…

…As the one that my friends tend to ask about anything technical it was going to be a hard battle to win.

So “Nerdy” I am…

To be honest I actually don’t mind the term although I am probably not exactly as some on-line dictionaries explain it…

“A person who is single-minded or accomplished in scientific or technical pursuits but is felt to be socially inept”

Any one that knows me will certainly not call me “socially inept”.

“One obsessed with something specified: a computer nerd.”

Which is probably what my friends were thinking when they used the term.

So when I start talking about System development or statistical modelling then you will probably think the same.

One of the things I love doing as a “computer nerd” is analysing our in house database to find horse racing systems.

Horse Racing Ratings

Lately I have been spending a great deal of time on developing ratings.

This is where you actually assign a number to each runner in a race and then rank them by that number or simply use the rating you have assigned them.

The official rating (OR) which you find on race cards is an example of this…

The fascination is in the way you create the ratings.

A trick you may want to use is to combine a number of ratings from different sources to create what some people refer to as “Power Ratings”.

So you could use the OR, RPR from the racing post and another rating like Sporting Life’s 5 star rating.

Add them altogether and you have ratings from 3 different sources which may point to another winner rather than the favourite.

I would suggest sticking to handicaps when you begin purely because all runners tend to be rated unlike say “maidens”.

I have tried this myself in the past and it can work quite well but the downside is the work involved getting all the information together daily.

I much prefer automation, and because of that I like to build my ratings based on statistical information.

Like…

How often a horse that came 1st place last time out…Wins.

Or

How often a 3 year old Horse wins a handicap.

You can see an example of how you could do it here.

See the ratings

I am a great believer in ratings (not just because I am a nerd) because I feel they give you a consistent way of selecting runners which tends to also give you a consistent strike rate.

The trick is to find the ones that offer value.

Thank you as always for reading I really appreciate it.

Malcolm

Malcolm Pett is the creator of the Greyhorse Bot which has been automating betting since 2006 – http://greyhorsebot.com

Today's Selection

15:05:00 Sandown 1 Alonsoa – win bet 11/8 Boylesport

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close