Cashout bot

[ANGELS15]

Dear Commumity

I need some help to figure out a way to create a 'cashout' bot. I'm aware of how to create 'Dobbing' automation but this would be something a little different I think?

The reasoning behind the need for the cashout bot is that from time to time I will back certain outsiders in races at huge odd because I beleive they represent tremendous value, i.e a horse maybe 28/1 in conventional bookmaker odds but 80/1 on the exchange.

In the past typically I might have placed say £4 at odds anything from 60/1 to 1000/1. On occasions the horse has won but more importantly there have been many occasions over the years when I've suddenly had a huge cashout offer flash up on my phone when I've been out and about. I've tended to let things run in the past but recently been tending to cash out if available. The cashout has been very hit and miss as often by the time the offer flashes up on my phone the horse's chance may have come and gone or I've got the message 'your cash out request has been unsuccessful'

I've recently tried to do it manually. In a recent example I backed a horse £4 @ 200 to win £796 and just simply typed in a lay bet for £100 @ 3.2 liabilty £220 and simply changed it to 'keep. To my surprise the horse actually won (sp 50/1) but more importantly my lay bet was taken. I've done a few more but rather than leaving it to arbitrary rough hurried calculations there must be a better way to do this whereby in the example given here I would end up keeping say 70% of my potential winnings but Bet Angel would work out the lay stake and odds so that I would cashout say 25 - 30% of my potential winnings.

Does anyone have an idea of how I would go about this?

[ShaunWhite]

Just create a rule to green up at a certain profit condition (+557 in your example). Job done.

[ANGELS15]

Thanks Shaunwhite is it really that simple? Mind you that would have worked in the recent example but some of these outsider's odds vary considerably so I would need something different if say the odds had been say 370 or even 1000. I'm not so sure how a green up rule would work in practice. I do a lot of dobbing where the system places an offset bet in the system just before the off so as long as the odds drop to the target price you should be matched. Is there less of a guarantee with a green up rule as the system is waiting for the right odds which would not be as quick as if you had odds in place ready and waiting?

[ShaunWhite]

You're right, an order triggered at a price has a risk of not being matched..... Or it might get you better odds as the price falls past the target. Pros and cons.

[ANGELS15]

Perhaps a compromise would be to set the greenup order a few ticks higher to give the software time to place the lay bet. The only trouble with this is that again you don't know what odds you're going to get so a bot thats calculates is really needed. I really would rather do this using the software rather than my phone for one thing with the mobile app there is a real risk of overstaking. On a few occasions I'd thought I'd placed a small bet on a huge outsider only to find I'd staked £50 or more due to the stake buttons being so close together. A couple of months ago I thought I'd backed Rocket Ronnie for £4 @ 49 only to find I'd backed it for £54 due to the +£50 stake button being close to the £4 button. I was actually very fortunate on that occasion because Rocket Ronnie ran a mighty race leading coming to the last but I'd actually managed to lay off a few bets in running due to it's price falling.

[Niko]

Place your back bet as 4 seperate bets with varying tick offsets for the lays?? 50, 70, 90, 150 for example??

[ANGELS15]

Again I'd need the software to calculate based on the odds. The aim of this particular exercise is to maximise the potential profit by using the potential gain to create a decent result either way so that I can lay off at a 3 figure stake but still win around 70% if the horse actually won. Many years ago I had backed a horse for £4 @ 1000. It was in a group of 3 coming to the last with briefly a huge cash out possibility. In a situation like that I could have afforded to lay it for £200 at say 8. I'm sorry if I'm not explaining things very well it's just that I'd rather automate the strategy rather than have to manually vary it every time with crude mental arithmetic.

[ShaunWhite]

15 mins to write as spreadsheet to work it out.
Then 1 min to modify your default rules file for each race.
What sort of hourly rate of pay are you looking for?

You might have to settle for an approximation if that's too much. You can create a number of lay bets at a %offset from sp for a %age of your net position. It will get you something that will work for most situations.

You might have to spend some time in excel to work out what's best.

[ANGELS15]

I appreciate all the suggestions. I'm sorry if I've taken up people's time I just thought in the first instance that it was something the software could easily do. But if it's not that straightforward I'll just have to stick to what I've been doing maybe just doing a lay bet for 20% of the net potential payout. I'm still relatively new to all this. I do have basic spreadsheet skill but at this early stage I may have to wait a while before I feel able to write such a sheet and integrate it into Bet Angel.