FairBot – Advanced Automation

Introduction

In the past many FairBot users have asked about the possibility of automating their trading, betting or dutching strategies. For example: to automatically lay all selections at specified odds before the off and then cancel all unmatched bets as soon as any of the bets gets matched. Or to place a bet 10 seconds before the off and then execute the Green Up facility in-running. Or to automate the “Lay the Draw” strategy for football markets and so on. Because of the demand for such a facility we have now decided to implement the functionality to automate such User strategies from within the FairBot software.

This basic functionality consists of an ability to create single or multiple automation rules, which are then grouped into a named strategy. This strategy is then assigned to one, or more, markets, and so will work with each relevant market in automatic mode. Within a strategy each automation rule consists of a single Action, (for example, it can be an action to “Place a Bet”), and also one or more Conditions under which the action will be performed. For example, a condition can be a certain period of time before the off, or the current back odds on some market contestant, etc. It is important to understand that an Action is executed only if ALL conditions associated with the rule are true.

Strategy Creation

Strategies are created using the "Strategy Editor". To open the “Strategy Editor” it is necessary to open any market and then select the “Strategy Editor...” menu item from the Tools menu. It is also possible to click the Automation tab on the right hand side of the main window and then click the “Strategy Editor...” button.

The main window of the Strategy Editor consists of several areas. The area on the left is the list of all available strategies. The area to the right is the list of the automation rules for the selected strategy, and the top area is the toolbar with commands to edit the strategy, automation rules and also some other operations like the import/export of strategies.

The User should click the “Create Strategy” button to create a new strategy. After this the new strategy named “Untitled” is added to the list of strategies. It is possible to rename the strategy by clicking the “Rename” button in the toolbar and entering the new strategy name in the edit field.

Having done this it is then possible to add one or more automation rules into the strategy. To do this you have to click the “Add Rule...” button in the toolbar at the top. Whereupon the Rule Editor screen is opened. Here, (on the General tab), you can then type the rule name, the time period when the rule is active, how many times we want the rule to be executed, etc.

Also each rule should have an action. The action is assigned to the rule using the Action tab. There is a drop down list where you can choose an action, for example, the “Place a Bet Action”. The action parameters are specified below on the Action page.

It is possible to specify any/many additional conditions on the Conditions page. Next you have to click the Ok button to add the new automation rule into your strategy.

Finally you need to save the strategy by clicking the Save button in the toolbar at the top. Once saved the new strategy is available for assignment to the market(s).

Strategy assignment to market(s)

Main Window

It is possible to assign a strategy to a market in the main window of the FairBot application using the Automation tab. To do this it is necessary to select a previously defined strategy from the Strategy drop-down list. After that the market is automatically added to the “Market Watch List” for constant monitoring, (even if you decide to switch to another market), to ensure the strategy is executed correctly. To disconnect the strategy from any market use the Reset button, or select the “(not select)” option from the Strategy drop-down list.

As soon as you have assigned the strategy to the market you will be able to see the list of automation rules for the assigned strategy. This allows you to evaluate/check the details of all the automation rules. It will also display the number of rule executions and any error messages during operation. (For example: if there are insufficient funds, etc.).

Market Watch List

It is also possible, as an alternative method, to assign a strategy to a single, or multiple, market(s) using the Market Watch List. For a single market you can use the drop-down strategy list in the Strategy column of the market list and choose which strategy you wish to assign to that particular market. Or you can select several markets, click the “Assign Strategy to Selected Markets” button (on the toolbar) and choose the required strategy from the drop-down list. To remove the strategy from several markets you have to select these markets, click the “Assign Strategy to Selected Markets” button and choose the “(not selected)” option from the drop-down list.

Conclusion

The "Advanced Automation" feature allows the User complete flexibility to automate many of the processes available within the FairBot utility and thereby releases the bettor or trader from frequent routine operations when executing their own, pre-defined, strategies that they wish to run on the Betfair betting exchange.