The trial of Betfair Pirate, which has been running since 13th July, has now concluded and my final review is below.
The Pirate, also known as Exchange Pirate, due to naming issues with Betfair themselves, is an automated software bot that you install on your PC and it runs in the background, placing lay bets on certain horses at odds of 6.0 or below.
So, the system is fully automatic, requiring no user interaction beyond switching it on. It costs £117 per three months.
The first thing to say is that the software is extremely easy to install, and if you’ve any problems Jason is quick and professional in helping you out. So far, so good.
OK, so we’ve got an automated solution that is quick to set up and get started. But how did it perform? Well… really well!
Over the course of the month, we had some scares early on when the software was finding a fair amount of winners and putting us into the red. But, thanks largely to a tremendous run of results in the final ten days, the Pirate finished the trial over 39 points up.
Cumulative Total:+ €394.00 to €10.00 stakes
This is phenomenal performance and most likely unsustainable, in truth. It should also be compared against a very disappointing run in June / July, which petered out early in our trial.
The historical results for the software, which have been publicly trialed, are impressive however.
Since last September, the results have been extremely positive, with the exception of drawdowns in January and July. Using a low and sensible 2% liability, a £2,000 bank would have increased to over £9,000 in nine months.
But… it’s not all sweetness and light. There are one or two concerns as well…
Firstly, the bot sometimes finds different selections for different people. The reason for this is that it is price sensitive, and acts according to the time on your PC’s clock. Different people can have variance of up to two minutes on their PC clocks, which delivers slightly different results.
That said, these things even themselves out over time, so if you miss a horse today, you’re likely to get an extra one within a day or two.
Secondly, this software does require a bank and discipline. Recommended bank is 100 to 150 points and, if you were unfortunate enough to join in a downturn, then you would need some of that.
The recent reversal in June / July amounted to around 70 points (or roughly half one’s bank), but the performance before and since has more than accounted for the downturn.
Ultimately, we can clearly see there is volatility with Betfair Pirate, and those of a nervous disposition, or those who always expect the results graph to grow upwards (is there really anybody like this left?!), will probably not enjoy the ride here.
But those of you who understand the point of betting banks, and who are comfortable with the occasional downturn – as is suffered by any service or system – might well enjoy this one, especially if time is at a premium for you.
Trial Rating: 10 out of 10
Long term rating: 4 out of 10
I’d asked my reviewer to keep me in touch with the results for this and, as I suspected, the Exchange Pirate has failed to match its previous impressive run of form. Because of the nature of the software and the horses it opposes, it is liable to extreme bouts of volatility. In fact, it is showing a loss of 120 points over three months. At €10 stakes, that would be around €1,200!
As such, if you do decide to try it, I recommend at least a 200 point bank and an iron constitution.