What is Triggered Betting BetFair betting bot - MarketFeeder Pro - triggered automated betting software
Brand new trigger functions were added to MarketFeeder Pro 6.0! Check here.
The main concept of trigger betting can be expressed in several words: an easy way to create your own trading application.
A trigger is a set of commands that define when and how you wish to trade in a given market.
The market of betting bots is steadily filling up with various applications catered for BetFair users. And while the variety of their functions is growing with each piece of software, still the forum of BDP developers is full of traders’ requests for a bespoke tool. There are many people who adhere to their own strategy of betting, and commonly known techniques implemented in ready solutions don’t always satisfy them.
So obviously the only way to meet your special requirements is to apply for the software designed specially for you. But this may cost much more that you are prepared to spend on implementing a betting system that may never pay back.
So ideally there must be software that would allow you to give a new betting system a “test drive” before you could stick to it. Some tool that you could use for trying new ideas without much harm to your wallet. Imagine an application that – no matter how complicated your strategy is – will always be at your service to test this strategy.
All this became a reality with triggered betting. It is called “triggered” because of it is controlled by triggers – sets of instructions that you give to the software. Triggers are combinations of simple commands that you would give your broker before a trading session began. Of course, if the commands are well-known, such as “lay and back to generate equal profit”, you can use the standard “Auto-Greenup” or “Auto-Dutching” or stop-loss functions built into MarketFeeder Pro.
However if you are opting for anything more complicated you will need to formulate your requirements to set up a trigger or several triggers.
Now we need to define what a trigger is.
A trigger consists of the following fields:
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Field
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Description
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Action
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The action a trigger must execute if its conditions are met. It can be some kind of a betting instructions: placing or canceling a bet, greening up or spreading the loss about selections, Dutching. Or it can be notifying you that the conditions have been met (for example, with a message or by email). Finally the trigger can perform an action that influences other triggers: for example activates or deactivates them.
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Price, Amount, Profit %
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If the trigger performs a betting action, such as backing or laying, you can specify how much you want to bet, and at what price. The profit percentage is defined for greening-up and Dutching.
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Markets
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The type of markets a trigger must be applied to. For example, you can make the trigger to be executed only in football matches. Or you can make one trigger to be applied to all markets, the other one to be applied only to Greyhound races, the third one to be applied to specific horse races markets etc.
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Market Status
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The status a market must be in to let the trigger be executed. A market can be in one of the following statuses:
Idle (active, but not in-play)
In-Play
Suspended
Finished
By combining these options you can make a trigger to be executed, for example, in all “Not In-Play” markets, or in “All Except Suspended” markets.
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Selections
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The selections a trigger must be applied to. The option allows you to specify the runners or teams or players you will be applying the trigger to. You can define them either explicitly (choose a particular selection’s name, or select “Favourite” or “Probable Loser”, or “All Selections” for instance), or make the software search for the selections that match your criteria. In the latter case the program will find all selections that meet the conditions of the triggers, and then execute the trigger on those specified in “Selections” field.
For example, if you set “Selections” to “All Matching Selections” and add a condition “Any Selection’s Back Matched is greater than 0”, the program will apply the trigger to all selection having a matched back bet.
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Execute
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This field defines how many times, or how often a trigger must be executed. You can set it to be triggered only once, or once per minute, once per hour, or 5 times etc.
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Conditions
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Here you specify the criteria for the trigger. It may be just one condition, or many different conditions connected with AND, OR, AND NOT and OR NOT conjunctions. A trigger will always check these conditions before executing its action. If the overall result is negative, the trigger will not be executed, or it may be executed to “unmatching selections” (the ones that don’t meet the conditions) if you choose so.
You can even execute a trigger if the conditions are not met – there is a special option for that in the trigger editor.
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The way the fields are set up is very simple: you either choose an option from the drop-down list of available options, or type in a value or formula.
You can see the examples below:
After you have created a trigger, you can turn the triggered betting on and let the program start monitoring the markets for the situations described in the triggers. As soon as such situation occurs, the trigger will attempt to execute its action. If you want to control the process, you can keep the “Request confirmation for every critical operation” option on. It will ask your permission each time a trigger will be ready to fire.
If you choose to, all triggers will report their status to log files, for your further revision.
There is no limit to the number of triggers you may run simultaneously. You can even run several triggers in the same market. Moreover, triggers can tie win and place markets together.
You can implement different staking plans, basing your bet sizes on the profit or loss you have made in the previous markets.
You can save and encrypt your trigger files with a password, for future selling it to other users. This way you can sell your betting systems and strategies without the actual need to explain how they work!
Finally, you can test your strategies with no risk at all, if you turn “Test Mode” on. The triggers will bet using virtual money, but their behaviour will be exactly the same as if they were using real funds.
There is really nothing that you can’t do with triggered betting. It’s like having your own bot coder that is ready for your instructions 365 days a year, 7 days a week, 24 hours a day!
