Testing stakes

I’ve been using a small stake of £0.10 to test Slayr. Betdaq charge 5% commission  but round up, meaning I’m paying £0.01 or 10%. This could swing the strategy from win to lose. I’d be looking for a small overall profit margin on this type of bet so it’s important to get a realistic result from testing. I’ve increased the stake to £0.20 for testing.

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9 thoughts on “Testing stakes”

  1. I know not everyone has the disposable cash, but these are tiny stakes. Is it not worth testing at slightly higher levels? This may not be for everyone but as a rule I maintain an “R&D” budget for testing new strategies/systems etc. I keep “testing” stakes as a set portion of this. All ideas are live tested for a set period (this is always after paper research) before 1 of 3 things happen; I stop and abandon, I adjust and they re-start the testing period, or I’m completely happy and they “go live/enter production” and become part of my day to day P+L. The R&D budget is/should be supported by the successful ones balancing out the abandoned ones.

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    1. Hi Mike. you’re right and if it was a system I would start with £2 stakes, having done preliminary testing. This came about as I was testing functionality of another bot without live betting. I decided to run on betdaq and added a few lines of code to throw some bets in, hoping to keep the exchange happy as I actually tested the other bots scraping and selecting capabilities. It was only because I had an initial 10 losses out of 11 bets that I thought I’d keep it going, purely for interest, switching to laying. As expected the results are now in line with the odds and I’m likely to stop this bot. I’ll do a post on the outcome.

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      1. Also ensure that you are not going to fall foul of Betfair’s variable sub £2 betting rules and that you don’t wind up accidentally hoovering up risk-free pennies.

        Either of these two misdemeanours will get you banned by Betfair.

        I’m with Mike. I would go straight to the £2 stakes and if you are trading at the lower odds with a stop-loss then you are only going to be losing pennies. After 100 trades you will know if your system is working and if it isn’t then you will only have lost a few pounds.

        BPT – http://www.betfairprotrader.co.uk

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    1. Hi Tony. Not with this bot as I’ve no idea where market is going, I don’t want to miss a bet and I’ve put so little into this that I don’t expect it to be going much longer. My swing bot places at odds which may make. Oscar takes. I don’t have anything designed to take advantage of that offer specifically.

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    2. The 2% no longer exists, this from email I received –

      We wish to inform you that we will be updating the terms and conditions of the BETDAQ website on 11th May 2016.

      The changes include terms and conditions for the introduction of the a new Exchange Starting Price product called ‘XSP’ (Part 2 Section 26), and the new Reality Check feature on BETDAQ Games that was introduced on 26th April 2016 (Part 8 Section 5). The new terms can be found here.

      From this date, XSP bets, and all bets made on the exchange will have the customer’s normal commission rate applied. A flat rate will no longer apply to bet offers. Details of the commission rates can be found here.

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      1. Completely missed that they have changed it! Rarely used it but thought the 2% was handy for certain markets and thought it might have been a long term policy to attract the money across.

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      2. It must have lost more than it brought in. Betdaq should give discount for closing the spread, that’s the biggest downside from my point of view. Until they sort that it’s harder to read the market than it is on Betfair. Oscar is useless on Betdaq due to the spread – fewer opportunities.

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