Done For You Automated Betting
I heard recently that there is an upcoming webinar about a service that places bets from top tipsters into your account for you.
That got me thinking about whether that's a good idea or not?
I can see lots of positives assuming we are confident that the tipsters will be profitable.
The obvious first advantage is that you don't have to do anything apart from fund your Betfair account, hopefully only once until you want to increase stakes.
The second advantage is that once you are happy with the long term record of the tipsters who provide the selections that you can forget about it and just check in every few weeks to see what the progress is.
In fact I would recommend not checking because then you won't be concerned by losing spells and won't be tempted to quit if the variance is currently going against you.
This is the way I treat what I'm going to call ‘real' investments.
I ignore the market, which you will no doubt know has been difficult recently, and I just check in once a month and calculate my position across all investments.
That doesn't make things look better necessarily but I don't concern myself with the day to day variance and in this case I wouldn't be worried about every bet.
This particular service that comes from the Betchat team has a number of tipsters spread across different sports so it sounds like a balanced portfolio.
But how do we know if the tipsters are good tipsters or more importantly profitable?
So they are my initial thoughts, below is what I’ve found out ahead of the webinar having got an early view of the sign up page.
The guy who put the team together is Miles Tredwell, a well known racing tipster who I met at Sandown Park one day, he also has a service with Tipsters Empire and has a good reputation.
The team consists of four ‘proven‘ tipsters with track records that make “Warren Buffet look like a wet-behind-the-ears newbie” hmm ok, I know they have a creative sales man writing the blurb.
They say there will be a good range of odds from odds-on to 100/1 shots and as we know there will be a bot that places all the bets for you.
The sports they will be betting on are football, golf, snooker, tennis and racing. That’s five sports so I guess one of the tipsters is covering two sports.
I'm not sure if you have to run the softare on your own computer, but it sounds like it's run on a server on your behalf.
The blurb I’ve seen says that one advantage is that the tipsters can send last minute bets that often can't be shared with a traditional email tip service. Makes sense.
It also talks a lot about everyone getting a value price, but surely that must depend on how many members they are placing bets for and how strong the market in question is.
Maybe they take liquidity into account?
There will be an upfront fee to use the service and a small percentage of winnings will be charged.
I suppose the whole operation depends on the ability of the tipsters and we have to judge whether we want to put our faith and betting bank in those tipsters.
The webinar is at 7pm on 25th August and I have registered and plan to attend.
I will decide whether I will try it after the webinar but it sounds like it is worth trying at small stakes and then deciding whether it’s a long term prospect.