Betfair Automated Betting Bot Development

(Bet Fair)
Industry
Horse Betting
Team
9 Members
Time
4 Months
Platforms

OVERVIEW

A client reached out to us to build an automated betting bot on the popular BetFair application using API to maximise their profits from betting on horse racing by understanding the market trends. BetFair is an application that enables its users to bet on international sporting events. First, we understood how the betting industry works, and then we understood how BetFair works, after which we began solving the problem.
CHALLENGE AT THE BEGINNING

Speed of Technology

Problem
We needed a fast technology to synchronize the source data to our system.
We had to run our programs real time during the horse race.
We ran our calculations on the given data, but by the time we generated an analysis of the probable winner, the market trends and positions of the race horses altered so our result had no value.
Solution
We used the Node JS as it as an open-sourced JavaScript run-time environment that has the fastest libraries.
The reason behind using node.js is that we were able to establish a swift and persistent connection between betfair and our algorithm.
We could run our program with race data and generate results using the latest trends up-to-the-second with more than 99 % of the source data matching with our index.
CHALLENGE OF DEVELOPMENT

Algorithm with Better Analysis

Problem
The client provided their own algorithm to make betting predictions using the market trend.
  • We could not generate more correct results
  • Our probability was 40-50 % and our formulae was not working as desired
  • We were losing money.
Solution
We used Machine Learning to analyse the real time data of the market trend received in the NodeJS libraries and received better recommendations regarding our bet.
  • Our probability of making a correct bet went from 40-50 % to 85-90 %
This was the first time we were dealing with a client involved in the betting industry. It took a lot of effort on our part to first understand the betting process, rules and then find a solution to the problem of our clients. We first synchronized the betting data and our Index using the speed of NodeJS and improved the accuracy of our predictions using Machine Learning. Thus, we were able to leverage the latest technologies and incorporate their features in the arena of betting to generate maximum profits for our clients without much hassle.
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