Betting Exchange Trading Software
Betting exchange trading software isn’t necessary but it can be a big help depending on your trading style. Software makers tend target the larger betting exchanges, Betfair, Betdaq and Matchbook. Find out which exchanges your software is compatible with before purchase.
If you are simply placing bets in the market before the start of an event, as you would at a bookmaker, then you can use the standard exchange platform that you will have access to at any betting exchange.
Our football traders here at Betfile generally don’t use trading software unless they are trading multiple matches at the same time. In these situations, it is often necessary to switch between matches quickly. This is more easily done with software.
Trading software really comes into it’s own in fast moving sports markets like horse racing because the standard exchange platform doesn’t refresh prices quickly enough.
In the ten minutes leading up to a horse race, the odds can move dramatically as volume floods into the market.
You will also need betting exchange trading software for inplay horse racing. During a race, prices move even more erratically, depending on how the runners are performing.
Most exchange trading software refreshes prices as fast as 200 m/s or 1/5 of a second, so that you can see the market moving all the time. Add to that an array of features such as ‘grid’ and ‘ladder’ layout, as well as other tools such as ‘stop losses’, ‘auto-betting’ and ‘dutching’ and you have real power at your fingertips.
Rather than take you through every aspect of the most popular software, the best thing is to try it for yourself. Most companies offer free trials.
Make sure you understand how the betting exchanges work on the standard platform first, before getting involved with any type of trading software.
Traders at Betfile tend to use the three bits of kit below. Give them a try when you are ready:
Geeks toy is probably our ‘go to’ software for pre-match / race trading. Of course you can use it for ‘inplay’ too. Occasionally Geek offer the chance to buy the software for life for a reasonable cost – which means that you don’t need to subscribe monthly. Most software suppliers use a subscription model. It’s a great piece of software.
This was really the first bit of serious betting exchange trading software in the marketplace. Slick, reliable and good to look at. A great all rounder. The only negative we found is that it can occasionally eat a lot of memory / slow speed. Perhaps best used on a relatively ‘clean’ computer with a good connection.
The software we use for inplay markets. Gruss has some very clever tools for live trading. Other pieces of exchange software may have caught up a bit now but we’ve got into the habit of using it. It may be in need of a ‘design upgrade’ aesthetically but it does all that you need it to do.
Good luck with your trading.