Betfair Setup Pt 2 – Intermediate
- The TopTrap Greyhound Profit And Loss Account On Betfair - March 17, 2022
- Betfair Best Execution – 11 Requested & Filled At 320 - January 16, 2022
- BTB System e-book - March 13, 2015
Once you have got the Betfair screen sorted out and got the hang of placing bets there are a few more things you can do to make your matched betting (or arbing) easier. Many of these are in the “More Options” menu. To display More Options click on the button below the refresh button. You can then select several useful things.
The first box is profit and loss display. Tick the box at the top and also display “what if” figure. You can choose to have these net of commission if you wish. These are useful – see below.
Odds Options – make sure refresh screen automatically is ticked – this is essential – if it is not ticked the odds on your screen will not update and you can be seriously shafted. You can choose whether or not the odds flash when they change, and what colour to display the lay odds. These choices are entirely up to you – I find flashing odds distracting and I’m used to purple lay odds.
The SP options are totally irrelevant.
The Help display options don’t really matter, except that if you untick “display bet help tab as my default” it defaults to the rules tab, which gives you useful information about non runners and event start times. I would always have the rules tab as the default option.
In left menu I prefer to display “My Markets” as default (see below for more on “My Markets”).
Untick display sports zones – if these are displayed it simply puts a big banner at the top of each market, meaning you can see less of the useful information.
For the Horse Racing Pages make sure exchange is checked. Race card info will show you the jockey silks icons – I like these (and the mouse over info) but this is personal taste.
When you have finished click “save and close” at the bottom to save your choices.
Finally, bring up a Betslip by clicking on some odds. At the bottom of the tab you will find a box “confirm bets before placing”. If you want a confirm screen before the bet goes through, tick this. If you want immediate placement on clicking “place bet”, untick it. I feel “safer” with it ticked, but I admit it is slower.
P&L and What If display
When you have these selected in “More Options” they show useful information which can alert you to a bet not having been matched or a mistake having been made much more easily than the betslip information. They are also essential if you need to correct a mistake.
This screenshot shows the “what if” figures which appear as soon as you put a stake in the betslip. The little arrows point towards what your liability or profit will be when this bet is placed – if you already have a bet on the race the original P&L will appear in front of these arrows and the what if figures will be how things will look after your bet.
The screenshot below shows the green and red P&L figures underneath the horse names when a bet has been matched. These will appear instantly when your bet is submitted and therefore act as a warning of an unmatched bet if they do not appear. The red is your liability at Betfair on that horse, the green shows how much you win (your lay stake) on the others.
The red liability on Reggane is slightly more in the 2nd screenshot because the odds moved and I had to move the bet up a notch to get matched.
This is extremely useful for “greening up” when trading on Betfair and also for correcting mistakes, since you can cancel out some of your lay by placing a back bet for example. There have been a few occasions when the P&L figures have alerted me to mistakes I would not otherwise have noticed, when I have missed a decimal point out and laid too much or something similar.
These screenshots demonstrate how the race will look with “Display race card info” ticked.
My Markets and the Left Menu
The left menu provides a way of navigating between different markets, but it can be cumbersome and slow. You can use the tabs at the top but they only lists the major sports. However you can choose to select a set of the markets you use most often as “My Markets”. These will then load in the left menu whenever you load Betfair, meaning you don’t have to scroll through all sports to find them every time.
In fact you can select anything you want to go into my markets, right down to individual markets, but it isn’t very good at remembering day to day changes, and I find it is better set up and left alone. In my case I simply have Horse Racing Today’s Card and Football Fixtures selected. Whenever I load Betfair the left menu then looks like the screenshot on the left below:
To select your markets all you do is click on customize markets. This brings up a popup (above right) and you click on the blue arrows to move the markets you want in “my markets” from the left side of the window to the right. You then need to click on save at the bottom before you close the popup window.
You can add a market to “My Markets” by clicking on the “+” symbol after the name at the top of the market. This then changes to a “-” and can be removed from My Markets by clicking on that.
WARNING – My Markets is somewhat buggy and constantly changing it can result in deletion of saved markets and having to redo it. I therefore advise keeping it as simple as possible and leaving it alone.
Any of the settings you choose from the options discussed here should remain set for your Betfair account on any computer. Occasionally Betfair does an upgrade and the settings become unset and you have to do them all again.
Read Setting Up Your Betfair Options Part 3 here.
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