In today's news update:
A brief explanation on the difference between exchange and BSP.
Sure Favs Foundation things to know.
The importance of setting up a correct points balance with staking examples.
The monthly star performing Automated Betting Strategies & one to watch.
Strategies yet to reach potential I've been working on.
In Play Bet Club.
The Difference Between Exchange & BSP
If you follow any of my automated betting strategies within the bot which place bets direct to the exchange instead of BSP, your results will depend on the odds you are matched in comparison to other members and what is reported on site.
The wins and losses will be exactly the same in all but one service option which I'll get to later, but your returns will be higher or lower depending on the odds you were matched.
This is because prices move on the exchange and at the time all bets are presented to Betfair by our software the money will fluctuate.
This is how the exchange works and it's a result of our bets, other Betfair users, traders, bots etc all affecting the race market.
The way we account for the fact bets affect odds and liquidity is to apply an offset which places bets within a range of odds, so this means as the prices go up and down with all the money on the exchange, the odds members receive will not be too high as a lay bet or too low as a back bet when placed.
Another thing we have added to combat this is the time of bet, which is placed as close to race time as possible to ensure there is plenty of money available on the prices.
However, if someone is placing very large sums of money as stake they may not be matched either fully or at all should they be opting for exchange betting instead of BSP.
If you're in that bracket I'd always suggest f