What Are Betting Bots?
Betting exchanges are a fairly new addition to the betting world. New as they are they have already revolutionized the world of gambling. Gambling is now no longer merely a game of chance usually frowned on, but has turned into another risk market. More reputable and, of course, still profitable.
Betting exchanges are P2P platforms (Person to Person) since it allows punters to take a position on an event, place your bet, and then wait for another punter to bet against you. This is profitable for punters since they don’t need to place bets with or against bookmakers who always win in the long term due to the overround they build into their prices.
Betting exchanges also allow you to buy and sell bets. The prices of the bets fluctuate depending on factors that influence sporting events. Betting exchange traders who are savvy enough to note these factors and track and predict the direction of the market can and do make huge profits.
To help those who are less market savvy but still want in on betting exchanges, software companies came up with betting exchange bots. The usual task of a betting bot is to scan programmed events at regular intervals and check the bet prices. The bots then analyze the data, calculate odds, and give ratings. Some bots can even hedge, arbitrate, and trade markets automatically. Some betting exchange bots also feature market forecasts.
Like bots of any kind, betting exchange bots are creating a stir. Many people are threatened and see betting exchange bots as cheats that are taking over the betting exchange market. Betting exchange bots are being accused of stealing the value from punters. This accusation is however unfair since, as mentioned earlier, the primary task of most betting exchange bots is to merely scan for price updates and calculate odds and ratings. Bots are very useful and many are now created with the consent and assistance of betting exchanges. The exchanges, after all, use betting exchange bots to offer additional services like daily system sheets that display the current live back and lay prices. The live prices are updated in real time thanks to bots.
Even with bots that buy and sell bets automatically punters shouldn’t be alarmed that bots will overrun the market. After all though there might be quite a number of betting exchange bots active in the market at the same time these bots scanning the same events will have to “fight over” a bet of good value. It doesn’t matter how many there are because only one will win and be able to buy the bet.
There are a few problem bots though. These bots can cause chaos on an exchange by overloading it. This happens when a bot is programmed to scan an event many times over at very short intervals. In the majority of cases these types of bots will be “screen scrapers” and betting exchanges such as Betfair have already taken steps to counter this problem by setting up systems that detect bot activities like this and block such bots from entering the market. However, on the other side of the coin, Betfair also have their own developers program now where they actively encourage the development of betting exchange bots that use their official API.
If you’ve come to believe that betting bots are the scourge of the betting exchanges (which is understandable given some of the inaccurate and false statements I’ve seen in the press about them) then I’d urge you to take a good look around at some of the betting solutions we have listed on this website. The betting exchanges are, without doubt, 100% behind betting bot developers nowadays, so make no mistake about it…
Betting exchange bots are here to stay and they’re getting better by the day!
Posted by 
