Horse Racing Oracle – New Review
We are starting a new review today of a betting bot for Betfair called Horse Racing Oracle.
The bot implements a horse racing system based around backing strong favourites in UK horse racing.
The system is designed to help achieve daily profits through strategic horse racing betting. Horse Racing Oracle provide their users with daily qualifying races to bet on, backed by a robust staking plan which aims to help users:
- Achieve daily profit target and then stop betting for the day
- Remain disciplined and only bet on races that meet their strict qualifying criteria
- Manage risk by following their robust staking plan that adapts based on your win/loss record
It is a fully automated betting bot which automatically:
- Finds qualifying races (based on strict criteria they have set)
- Calculates stakes (based on the profit target that the user wants to achieve – this is capped at 2% per day to manage risk)
- Places bets (users connect their Betfair account to enable this)
- Tracks results and performance
The app and bot are fully tested and approved by Betfair and are part of their Vendor app programme – which by the way doesn’t mean it will necessarily be profitable, but means the technology of the app and its functionality are up to the standards Betfair demands to be approved on their Vendor app programme.
We have tested some betting bots for Betfair before and none of them have proved very successful sadly, so we approach this with a dose of caution.
However, early results look good and it does look like a very polished product.
Just a word on staking for the bot. We have asked the developers of Horse Racing Oracle what the staking system is and they have kindly clarified for us that:
“The staking aims to achieve the daily profit target (also covering Betfair commission). If the first bet wins, then the bot stops for the day. If the first bet loses, then the bot takes those losses into account when calculating the stakes for the next bet.
So in summary, the stake for each bet, takes into account the odds for the race, and the profit target (plus any losses from previously occurring bets in that same day).
The goal is to achieve the daily profit target in a maximum of 8 bets and to stop betting for the day once it is achieved. If the bot goes 8 bets without achieving the profit (very unlikely scenario), then the bot accepts the losses and stops for the day.”
In essence then it is a form of loss-recovery as the staking increases after losing bets to try and recover the previous losses in the next bet. As regular followers will know we are not huge fans of loss-recovery staking, or at the very least we like to see if the system can still make a profit at level stakes.
If it can then the underlying system may well be sound, but if not then the question arises as to the effectiveness of the system itself.
In any event, we will tackle all this in our review, which should be an interesting one and we are looking forward to.
It’s been a while since we’ve had anything innovative like this to test so credit to the developers and fingers crossed for a positive trial.
We gained access to the bot on 12th June so will record results from then. As usual we will update results here as we go along so you can see for yourself how the bot is getting on.
In the meantime you can check out Horse Racing Oracle for yourself here.
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