Monday, 24 February 2020
The Integrity of Using Bots on Betting Exchanges
I use Betfair on a regular basis.
Compared to placing bets with conventional bookmakers (which seems a waste of times these days as they limit bets to a point of £1 win) they are a logical platform.
You may have heard of punters using bots to place bets on the exchanges. They do all the work so you don't have to. I can't say I have used them myself and have little understanding of how I would make one.
Considering I have no understanding of computer coding, I think it would be a long time before I made anything that could place the most basic of bets. Anyway, I have been chatting with my good friend Eric Winner as we both (like many punters) would love to have a bot to place bets akin to a passive income. Obviously, we would need to find an angle that made money on a consistent basis. That is no easy task because winning money is far from an easy endeavour.
Anyway, let's get past the point of this elusive winning angle.
I wonder if a bot kept winning would the powers take note and use it to their own ends? I have no idea but we have seen with all platforms and terms and conditions that any user is at the mercy of the owner. So I have to question whether such a winning bot would be winning for long because it may well be used by others who tinker with the code to take your profit and put it in their pockets.
It may be a cynical thought and something of George Orwell's 1984 but it does make me wonder if the profitable bots would be left to their own devices.
I would love to hear your thoughts.