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flash-betting's Introduction

Flash Betting

Flash Betting

Flash Betting is a mostly Front End app used to trade and interact with the BetFair API. The goal is to make a free version that can compete with the likes of GeeksToy, Bet Trader, and others. The app runs both the Front End / Back End locally and concurrently.

Features

Grid View Hedging One Click Mode Back / Lay tools Stop Loss Tick Offset Trade Charting Ladder View (in progress)

Technologies used in this project

Node.js React.js Redux Material UI SQLite Electron

Setup

In order to connect to the Betfair API you will need an App Key, and a BetFair username/password.

App Key

Follow these instructions to get your app key, you can either use a delayed or live key. The Live Application Key costs a one time fee of £299 payable to BetFair.

Environmental Variables

To configure the environment variables, create a .env file in the root directory of the project. Use the provided example.env file as a template to set up your own .env file. The APP_KEY variable should be set to your purchased app key from Betfair.

Example:

APP_KEY=your_app_key_here

Installation (Web)

$ npm install // Install the dependencies
$ npm run browser // Run the Front End and Local Back End concurrently

Installation (Desktop App)

$ npm install // Install the dependencies
$ npm run electron-build // Build the .dmg or .exe with Electron Builder

Screenshots

Login View 1 Chart Grid Ladder Market

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flash-betting's Issues

The Green Up method

The Green Up method.
Bet and Lay the same selection to equal amounts, making sure the Bet odds are bigger than the Lay odds.
Divide the profit by the available Lay odds for an All Green screen.

Place a Bet in a falling market, or a Lay in a rising market.

When the odds move in your favour, Lay the same amount in the falling market, or a Bet the same amount in the rising market.

You now have the equivalent of a "free" Bet - a win or break even situation.

Divide that free Bet profit by the current Lay odds to "Green up" for a win/win situation.

Example.
Suppose we bet £10 on a horse at 10.0 (9/1) in a falling market.
The odds then shorten to 9.0 (8/1), so we Lay the same horse for £10 at odds of 9.0.
Win. If our selection wins, we win £10 x 9.0 = £90 less Lay liabilities of £10 x 8 = £80 = a profit of £10.
Lose. If our selection loses, we lose £10 on the bet, but have a successful £10 Lay = Break even, profit = Zero.
To green up, we need to divide the "free" Bet profit of £10 by the current Lay odds, and place a second Lay :-
Lay stake to equalize or green up = £10 / 9.0 = £1.11.

After equalizing (greening up) :-
If our selection wins, we win £10 x 9.0 = £90 less Lay liabilities of (£10 x 8 = £80) + ( £1.11 x 8 = £8.88) = 88.88 a guaranteed profit of £1.12.
If our selection loses, we lose £10 on the bet, but have successful Lays of £10 + £1.11 = £11.11 profit = £1.11.

That is a simple Hedging method, but the big drawback for a small stakes trader is that in order to place your Lay of £1.11, you would then have to mess about Laying less than the minimum £2 on Betfair.

A rising market with a £10 Lay at odds of 9.0 and a Bet of £10 at odds of 10.0 would again produce a Bet profit of £10 for a win and a break even for a lose.
Suppose the Lay odds rise to 10.0.
Divide the £10 win profit by the current Lay odds (10.0), and Lay £1 at odds of 10.0 to equalize your trade for an All Green Screen profit of £1.00 no-matter what the outcome of the event.
In this £10 example, you would need to Lay at less than the £2 minimum.

A better way to Hedge is to use The 2 Transactions Method to complete your Hedge.
This method works with any size stakes, any size odds. and eliminates the need to place Bets or Lays at less than the £2 minimum.
This Hedging method is ideally suited to the smaller stakes trader.

Place a Bet or Lay.

When the odds change, place an opposing Bet or Lay, staking to trade out.

Two simple but extremely effective formulas give the stakes required for either a falling or rising market move.
If we Bet first, and the odds shorten, we calculate the stake for our Lay at lower odds.
If we Lay first, and the odds lengthen, we calculate the stake for our Bet at Higher odds.

Example. Odds shortening. Bet first, Lay 2nd.
Suppose we bet £10 on a horse at 10.0 (9/1)
The odds then shorten to 9.0 (8/1).
We can Lay £11.11 for a successful Hedge and a guaranteed profit of £1.11 no-matter what the outcome of the race.
Bet = £10 at odds of 10.0
Lay = £11.11 at odds of 9.0
Horse Wins + £90 less £88.88 lay liability = + £1.12
Horse Loses + £11.11 successful Lay less £10 losing bet = + £1.11

Odds lengthening. Lay first, Bet 2nd.
Suppose we Lay £10 on a horse at 9.0 (8/1)
The Bet odds then lengthen to 10.0 (9/1).
We can Bet £9 for a successful Hedge and a guaranteed profit of £1.00 no-matter what the outcome of the race.
Lay = £10 at odds of 9.0
Bet = £9 at odds of 10.0
Horse Wins + £81 less £80 lay liability = + £1
Horse Loses + £10 successful Lay less £9 losing bet = + £1

Commission is only payable

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