Manual mode Bet Settings Tab

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Description
This page explains what you will see in the manual bet settings and gives you details about its functions

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This tells the GHB to place back bets



Back = You are betting on something to happen so for example: I want to bet on the favorite to win the race

Lay =  You are betting on something not to happen So for example : I want to bet on the NOT to win the race



Here you can choose the type of stake you wish to use for your bets these are:

Stake = This is the amount you want to bet no matter what odds.If you put £5 in the box and the odds were 2.95 (lay), your liability would be: (2.95 -1) X 5 = 9.75

Liability = Your stake is worked out on the odds on offer If you put in the box that your maximum liability is £10, and the odds on offer were 2.95, then your stake would be 10 / (2.95 -1) = £5.12.

Liability_PercentOfBank = This function has been included for our users who like to place lay bets and gives you the ability to restrict your liability to a percentage of your current bank. This equation is worked out in the same way as the stake percent of bank

Stake_PercentOfBank = GHB will take your current bank and divide it by the % you have used. Please remember that we advise that you stick to the minimum bet rule of £2.00 however you can now place bets at your own choice of value, we do recommend that you try to keep this to at least 0.10p at the minimum level.

LadderStake = For those of you that prefer to stake according to the odds you now can. This option is pretty limitless and will allow you to have a stake for just about as many odd ranges as you like. Please Note one thing here. Please do not overlap odds.



This is the stake amount or percentage figure that accompanies your stake type as shown above



This is the range for which you want the GHB to trigger a bet into the market. You can set a low (left hand box) and high (right hand box) odds range. This means the Grey Horse Bot will only try to place a bet/lay when one of the runners is between these prices. Make sure you have the Best Odds box ticked for this to work. The Trigger range is also used in conjunction with the Ladder Stakes.



The idea behind this option is that in some races you may have a number of named selections .. however only want to bet on the best priced selection within your odds trigger range. Ticking the box highlighted above allows you to do this



This feature allows you to ask for a percentage increase OR decrease to the SP price in running for both backing and laying as opposed to increase for backing and decrease for laying

How does SP work?

Most people believe that betfairs price before the off is very good indication of a runners chance. This means as far as value goes then there isnt much if you take into account their commission.

The way around this is to try and get a better price than SP which is often possible if you are betting in running.

This option allows you to ask for a % price better than SP.

If you are backing the % is always higher than SP if you are laying then it is always lower than SP.

If you are using the Betalay system then you could ask for SP + 20% which could bring you nearer to the bookies price if you get matched

This tells the GHB to not bet on your manual selection should it become the favourite before the race begins

Must be favourite


This tells the GHB to only place a bet on your selection if it is the favourite before the race begins or at the time of bet placement.

Ok that’s the options screen covered for both auto and manual select mode, next we move onto adding markets to the bot.

Further Information

Manual mode bet settings tab FAQ

Q. Can I Set up individual odds ranges for each named runner?

A. In manual mode the bet settings control the master odds ranges and stakes, you can manully edit individual values on the market screen.
Q. Can I back and lay runners in the same race?

A. Yes you can, to do this you just need to make sure that you have both the back and lay tabs activated.  Please note that it is not a good idea to back and lay the same runner trying to trade or "hedge" using these settings, for this you can use the trading tab.
Q.  What is the lowest stake value that you recommend?

A. The lowest stake that we recommend is 10 pence (0.10)  this will minimize any rounding that betfair will have to do to charge commssion on a winning bet.
Q. Can I ask the bot to just take SP before the race goes in running?

A. No, you cannot take the SP price before the bot goes in running. however you can ask for the price as close as possible to SP in running by setting your SP % box to 0.00.  The bot uses the betfair SP price as a guidline when asking for better or worse in running, using 0.00 % in testing has shown to be accurate at picking up the SP price.
Q I have set up my SP trigger but the bot is not making the bet why is this?

A. Please make sure that you have "go in running if not matched" and "bet only in running" ticked on the inplay tab

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