Automatic Exchange Betting: Automating The Betting Process From Strategy to Execution: Colin Magee

Description

Review:
The presence of betting exchanges like Betfair and Betdaq mean that today's sports bettor can carry out sophisticated strategies that provide him with at least a half-decent chance of making consistent profits. The difficulty, though, is that the more complex these strategies are, the more they are likely to depend on bespoke software to put them into practice. Although Betfair, for one, do provide their users with some minimal instructions on how they might create this API software, they tend to assume that those doing so will already have some background in IT and programming.

Colin Magee's book provides a thorough course of instruction in how to write such exchange betting software, accessible to even the most computer-illiterate readers. The precise code required to accomplish the various exchange betting tasks - reading market data, placing bets, etc. - is printed in full in the book, and can also be downloaded from the associated website. Although the code is written in Perl and designed to be run on a Linux-based machine, which may be unfamiliar to some readers, Magee provides explicit, clear instructions on how to set up one's PC to run a Linux operating system. Having followed these instructions, the reader is able to download the code and get a basic exchange betting program up-and-running in next to no time.

As well as basic betting software, Magee shows how to set up more complex programs which read and write from a database on one's system, and then carry out betting strategies based on that data. These tasks can be scheduled to run at whatever time intervals the user requires, bringing ever closer the dream of total automation.

Note that the book is designed to show the reader how to automate and, to some extent, test for profitable exchange strategies. As Magee acknowledges, it does not show how to find the strategies in the first place. Nor is it, despite the implication of the title perhaps, immediately suitable for use with exchanges other than Betfair. The code provided is all specific to Betfair, and would require significant adaptation for use elsewhere.

Nevertheless, Automatic Exchange Betting is an invaluable resource for those wishing to learn about automating Betfair transactions. I write as a professional gambler specialising in football markets, and prior to reading Magee's book, had never written a line of code in my life. Within two weeks, I had several automatic betting programs (bots) up-and-running, all pieced together from Magee's sample code. I have subsequently automated a huge amount of my betting strategies, and have significantly increased my profits. For the intelligent bettor wishing to improve their efficiency and profitability, the book is an essential buy.

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