Auto-BF for Betfair
What is Betfair?
Betfair is the largest online betting company in the UK and the largest bet exchange in the world. Betfair currently has a turnover in excess of £50m/week.
A bet exchange allows punters (gamblers) to back and lay at odds set and requested by other punters rather than by a bookmaker. Betfair uses decimal odds, which are easier to work with for trading than fractional odds. Its bookmaking model - bringing together two counterparties with opposing views - removes the need for a bookmaker's mark-up or over round and this results in odds that are on average 20% better than bookmakers.
Who are Auto-BF?
Auto-BF (originally named Auto-Betfair) was formed in early 2006 in close partnership with Welldone Creative Software, and are based in London, England. Welldone are members of the official Betfair Developers Program. The Software was developed to specifically cater for those who wish to take part in on-line trading, but simply do not have the time or the experience to do so.
What exactly is Auto-BF doing?
Auto-BF fulfils three primary functions when placing bets. It monitors all horses in each race and obtains the best possible odds available. It takes into account how much money it should be in order to achieve the required amount of profit. It also takes into account the outcome of the previous race results.
What type of bets are placed?
Auto-BF currently focuses specifically on the UK Horse racing card. Bets are made on horses to win, or to place, depending on the odds available.
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