| Betfair Pirate (July 2010)
Betfair Pirate is an interesting service that I'm currently running a trial on. I have no financial interest in promoting this product and am doing this solely for the benefit of my members.
Betfair Pirate is basically an automatic betting bot that will sit all day placing lays into the market based on certain criteria that only the makers of the bot know (I do know that the bot will not lay anything over 6)
When you are setting the bot up you have the options availible to you that let you tell the bot how much you wish to bet (whether its a % of your balance or a set amount).
The service is not exactly cheap at approx £30 a month (and a minimum sign up of 3 months ) so its certainly not for the faint hearted to let a bot grab hold of your betfair balance and possibly run amok with it!
The first thing to mention is that whatever the performance of the actual Bot, the service that the owner Jason Harden provides is absolutely first class. I initially couldn't get the system up and running which I later found out was completly my fault. Jason responded quickly to my email and went in through the "back end" to get it all sorted for me.
I started my trial on 16th July with £108 (its a random amount that I had sitting in an account) and the bot was fired up. At one point the balance had reached £280 (this was around Mid August) and as the balance increases so does the amount staked so therefore if you go on a decent winning run the profits add up quite quickly.
All good things come to an end though and by the end of August my balance had sunk to £27. Now when you are betting 5% it means that you are betting tiny amounts on each race and I've decided that it would take me forever and a day to get back to my original stake of £108.
Today (3rd September ) I have loaded another £200 into the Betfair account with the intention that this is the last "top up" . If this money runs out then the trial will be finished as it will be "chasing losses scenario".
I will post a regular update in here so people can see how its going.
Update (14th September)
The good ship Pirate is holed beneath the water line and is sinking slowly. After topping up with £200 the bot went on another long losing run and the balance is currently standing at £100.31. Its going to take a long run of success to get anywhere near making up this lost ground and to get the balance back upto £308 which is the effective starting bank.
When you also build in the fact that the service costs £30 a month you can see that the run of success will have to be pretty special. Not giving up hope yet though as once it embarks on a winning run the wins can build up quite quickly, of course they can dissapear just as quickly!
Update (12th November)
Sunk ! (well more like abandoned ship) I decided not to carry on with this as I'm now not sure that there is any edge in using this system. I continue to receive the daily email updates from Jason which detail the daily profit and loss statements for the system. They aren't particulary good or bad but bearing in mind you are applying Betfair commison on winners and the monthly susciption fees I just don't think its worth it considering the potentail to wipe out your bank.The risk is too big and while I fully accept that all systems have their good and bad runs this one isn't for me. Unfortunately I think the only people who will make any money out of this one are Betfair and any affiliates who get a share of the commision (or promote the system).
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