Automated trading on Betfair – Profiting from a steamer
When a horse starts getting backed, people will often pile into the gamble and the price will steam in. You can benefit from this, using Bet Angel’s automation tools…
One of the best trades to pick up on in a horse racing market is a jolly good ‘steamer’. That is horse racing parlance for a horse who keeps on getting backed and backed, the opposite to a ‘drifter’. There can be any number of reasons for this to happen but one of them is definitely psychological. When people see money coming for a horse they feel the market may know something they don’t. Perhaps the horse is being presented for a win, does the yard know something? So seeing the price of the horse shorten then jump aboard for the gamble by backing it. As a result the price gets even shorter and before long more people have joined in the fun.
From a trading perspective ‘steamers’ or gambled horses are great because you can trade the market actively, get a profit and be left with none of the risk. Not all gambled horse win by any measure and therefore an outright punt on one of these horses can be a risky business. Trading is much less risky and you can profit regardless of who wins.
There are many ways to spot a steamer and on Bet Angel you can get it to look for and trade one automatically. To benefit from a steamer you need to back at the first opportunity, when you spot the gamble taking place, then exit just before the start of the race to take either a free bet or a profit whatever the result of the race.
Using the automation on Bet Angel you can ‘spot’ a steamer by comparing recent price activity against past activity. To simplify the process for you I have produced a video that you can use to replicate this, which you can view below.
In summary, by trading rather than punting a gambled horse you can profit whatever the result of the race, rather than crossing your fingers and acting on a hunch!
Category: Horse Racing, Using Bet Angel
