Friday, Feb. 28, 2014

BetTrader Evolution: Review are releasing an update to their Bet Trader Evolution software on December 8th. In order to see if it would be helpful for your trading, I had a detailed look at it prior to the launch.

Installation is quick and trouble free, with the interface being launched from within your browser. The vendors recommend Google Chrome or Firefox rather than Internet Explorer.

Racing TradersOnce launched, if you are a new user, you will want to head to the very helpful getting started videos, which also contain some interesting trading tips though it should be noted that these are all available at YouTube.

Having said that, the interface is fairly intuitive to any regular Betfair user. The main screens are professionally and clearly presented. Essentially you get an enhanced version of the Betafair trading screen. However, in addition to the characteristic ‘grid’ format seen in Betfair, with odds arranged horizontally across, you get a ladder option as well. This has a number of advantages.

You are more easily able to see how money is being traded into and out of the market. It is also far easier and quicker to back or lay at different odds from the current available. And finally, and this is probably the main strength of the software, it is far quicker to change your current options.

The refresh rate is much faster than Betfair: I had a whole lot of fun adjusting my trade out in the Portsmouth v. Burnley game, having previously layed Burnley, chasing the odds upwards. It was much easier to match at a higher odds, and I ended up matching £2 at 70 instead of 44 as I might have on the conventional system. So arguably this one trade would have saved me £52 had it gone against me!

I do have a couple of gripes, however. Average odds are not displayed on the main screen (as in Betfair), you simply get a list of all your matched and unmatched bets. Also there is no way to display your profit net of Commission. Perhaps this is something that could be added in future versions.

Though these features are missing, the setup menu allows you to select a ‘hedge’ feature which allows you to adjust a trade so that you will make a profit on all options by calculating the exact amount you need to trade: a very useful feature indeed.

The ladder display is probably more useful for horse racing, where there are more options, and there is a very good demonstration. I noted that when using it for inplay football in my chat room, I was probably spending too much time looking at the ladder display than the action itself, though that is obviously not the fault of the software itself.

New traders should be careful as while it is easy to quickly place and cancel trades, it is also easy to make errors, so you are advised to use £2 stakes until you fully familiarise yourself with the interface.

The new update launches on December 8th, and costs £14.99 per month or £9.99 if you subscribe before 8th January. New users will receive a 7 day free trial.

In summary, I think that this software may well enhance your Betfair trading, though it may not be for everyone. It is at its strongest when you are trading on quick shifts in the market and so is well worth a look.

If you head on over to the Racing Traders site, you’ll also be able to find the BetTrader forum, software, problems with the software, and video’s.