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Stakesoft Limited

CONTENTS (only 10 pages including pictures and examples!): 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Welcome Versions User Controls Markets Betting Exchange Placed Bets Panel Placing Bets Staking Price Adjustments Bet Type and Persistence User Options Unmatched Bet Monitoring Tidying Bets Tidy Market WOM (Weight of Money) Case Studies

Hi there! And thanks for getting JetBet the easy to use Betfair interface tool from Stakesoft. Dont worry, the instructions arent that long. Before you start, here are a few housekeeping items: Downloading you should have either gone through the email link or been directed to the download page on the JetBet site. If you ever need to download it again, just go to and you will be able to access the download link again. System Requirements JetBet is not particularly heavy on your computers resources, so it should run on most machines pretty well. Although we recommend Windows 7, 2Gb RAM and a reasonable processor, older stuff should be OK so long as you didnt inherit it from Noah. Connectivity usage JetBet DOES like faster internet connections and as such is a broadband only product. It makes calls to the Betfair website on a regular basis, and increases the rate of these calls at certain times (like when a horse race is IN PLAY for example). This is something you need to be aware of if you have slow internet especially if you are connecting via a 3G dongle etc. We have tried to mitigate this as much as possible but be aware that you may need to look at your internet speed if you are suffering from delays etc.

Free Version The free version is totally free! The difference from the premium version is that you are limited to 50 bet transactions in a calendar month, and there are four banner style adverts at the bottom of the software. The software tracks the number of bets placed in a month and displays this in the bottom right hand corner. When you get to zero no more bets can be placed until the next month. As part of the terms of subscription you will be on our mailing list for occasional offers etc. If you unsubscribe from this you will be unable to access the software. Premium (paid) version No restrictions, no ads! Upgrading to the paid version its really easy to upgrade. Just go to the JetBet website either via the link in the bottom right corner of the free version, or just go to subscribe, log out, log in and youre on the premium version. There is no need to download it again! Subscription after signing up you control your paid subscription in your Paypal account on their website so if for any reason you did want to cancel your membership, you could do it by cancelling the recurrent payment. You will still be able to access the system until the paid period expires, upon which you will be on to the free version only.

Logging in Clicking the Login button in the top right will bring up a dialog box where you can enter your Betfair username and Password (we dont ever store or even know your password). You can choose to save your username if you like so you dont have to enter it every time. Logging Out Just click logout! Betfair wallet display underneath the login button is your wallets for both the UK and Australia. If there is a figure in brackets this shows your current fund available to use after taking into account any exposure to matched and unmatched bets.

Events window this is on the left hand side and is similar to the one you will find on Betfair and is laid out in an expandable tree. All you need to do is click the relevant titles and the options underneath it will display, until you get to the markets available. You can collapse menus easily by clicking in the [-] symbol. Once you have clicked on a market, its information will load into the main window in the centre of the screen. Options At the top of this panel, you have a few options to switch dependent on the markets you want to access. First you can choose what timescale of events you want to view. By default we have set it to events ending in the next 2 days as this helps speed, but if you want to see all events you can do so by clicking the 2+ calendar, and you can set it back to 2 days by clicking on the 2 day calendar. Secondly, you can choose between Global (excluding Australian) markets and Australian only markets. Click the Globe icon or Australian flag option to choose between the two. There is also a refresh button, which will clear out all closed markets from the panel if you have had it open for a while.

As a Betfair user you will be familiar with the exchange layout of back and lay prices with a depth of three being visible. Information strip above the market itself are a number of information boxes showing you (from left to right):

The event name Back/Lay book percentages Market Status (Active, In play, Suspended, Closed) Market Volume Traded Countdown to scheduled event start

Columns these are mostly similar to the Betfair exchange screen but with a few additions. The full list (from default left to right) are: Profit/Loss shows your position if relevant the selection wins Runner the name and any other applicable information available about selections (eg number) B3, B2, B, L, L2, L3 prices in the market (and volumes available at those prices) Tidy handy tool to trade you out of a position on your selection. Shows odds and stake required. WOM weight of money Are there more backers than layers or vice versa? Indication of where the market is going. Chart real time graphing of matched price movements for both back and lay prices.

Ordering Columns the columns can be rearranged in whichever order you prefer. Simply click the header and drag it to its new location. Adding/removing columns if you dont need some of the columns shown, you can get rid of them by right clicking anywhere in the exchange area and un-ticking them. You can add them back at any time.


At the top is the activity window this shows what the system is up to, or the last thing it was doing. Pending bets panel shows bets that have been placed but not yet matched. When a bet shows in here you will have several options with regard to what to do with it: Bet Matching o Cancel o Match (takes whatever price is available at that moment) Bet Persistence whatever you have previously specified this can be changed to: o Keep (as in keep when market goes in-play) o BSP (take the starting price at event start) o None (Cancel the bet at event start)

All the rest of your unmatched bets will rack up in this panel here. If this is an important section to you, you can give yourself more space by unticking the Show Matchedoption. Matched bets panel here you will see a list of all matched bets, ordered by matched time sequence. If you cannot see this, remember to check to see if the Show Matched option is ticked.

The principle that JetBet works by is that users should set up the conditions of the bet they want to place before actually trying to place it this means that opportunities are not missed by having to set conditions as part of the placing process. The panels across the top of JetBet are where you set your conditions ready for placing. The actual placing of a bet is done in the main exchange window by clicking a selection price.

In the top left hand corner is the staking panel. Here you can choose the amount of money that will be placed into the market when you do click your bet and is made up of the following components:

Back Stake The cash value that will be staked on a back bet. Unlike on Betfair you can bet below 2.00. Fixed Profit this changes the function of the back stake box if ticked. It will mean that a calculated back bet will be placed with a stake that will win you the amount in the back stake box. Lay Stake The cash that you are seeking to win if the selection loses (your liability if it wins will be the stake x odds). Again, you can lay below 2.00. Fixed Liability this changes the function of the lay stake box if ticked. A calculated lay bet will be placed which will limit your maximum payout liability at the level in the lay stake box.

A NOTE ON BETS UNDER 2.00 the system has to do more work to place bets under 2.00 so you may experience a seconds delay or so occasionally dependent on your connection speed. This is normal.

Next to the staking panel is a panel where you can fine tune the level at which your bet will be placed. The options for this are as follows: No adjustment as it sounds, if you click a back or lay price, it will be placed in the market at the price you have clicked. Sure Bet in a fast moving market with prices changing all the time, this is useful to use as it asks for a price that is lower (for backs) or higher (for lays) than the current B or L level. The Betfair system will then automatically get you the best price it can at that moment. Odds Offset this allows you to click a price but actually be requesting it at a certain number of tics away from the current level. This allows you to wait for a better price if you think it is coming through in the market hence if you click a back price of 5.8 with 2 tics offset, it will actually order the bet at 6.0, and sit in your unmatched until the market reaches that level. Similarly, laying at 5.9 will actually order the lay at 5.7. You can offset from 1 to 10 tics. Fixed odds as youd expect, this completely ignores the market and orders your bet at the price you specify in this box. All you would need to do is set your price and then click on the back or lay side of the market for your selection to place the bet.


You have a few choices here so firstly decide whether you want your bet to be placed in the exchange market, or to be placed at the Betfair starting price. Taking the Betfair Starting Price first: your back bet will be placed at the BSP at the off (this has a minimum stake of 2). Your lay bet will be placed as a maximum liability lay (this has a minimum of 10). BETFAIR STARTING PRICE BETS CANNOT BE CANCELLED ONCE PLACED.

If you are placing the bet in the exchange as a Betfair Exchange Bet then you have several options when it come to persistence (how Betfair should treat your bet if unmatched). These are: Keep In Play keep your unmatched bet live and available to match once the event starts. Take BSP at the start of the event your bet will be matched automatically at the Betfair Starting Price. If your back bet is less than 2 or lay bet is less than 10 liability it will be cancelled. Cancel if unmatched by the start of the event, the bet will be cancelled off the system.


Confirm Bets we recommend you keep this ticked unless you want to do some very fast 1-click betting. When this is ticked, before placing a bet a dialog box will appear with a bet summary asking you if you are sure you want to place the bet. JetBet WILL place your bet straight away otherwise Show Crossmatches this is a technical option which we recommend leaving on. You may not be aware of it, but Betfair sometimes creates virtual bets by looking at other prices in the marketplace on the back and lay sides and uses them to create an equivalent price on another selection. So the price is available, but was not necessarily offered there by another punter. When this is ticked, in the exchange window you will sometimes see V or PV in grey above the prices - this is showing when the price is Virtual or Part Virtual. Swap Odds Display this is a pretty similar concept to the Odds Offset discussed earlier. Once ticked, the odds that were in the Lay side get shown in the Back side and vice versa. These prices are not available, but you can order them at these levels and await the market to move and get you matched. Auto Scale Window allows you to change the relative size of the JetBet window by dragging the corners of the window. This is useful for those who are visually impaired as you can make it as big as you want (so long as youve got a big enough screen). Similarly, JetBet can be reduced in size to fit smaller screens.


If you have unmatched bets, a useful feature of JetBet is being able to see graphically how far away you are from being matched in the marketplace. This is shown using little flags that will appear in the bottom left corner or the price you are seeking on your selection. When your price isnt on screen (eg 5 tics away from market) then a flag will show in the middle with a number on it saying the number of tics you are from being matched.

The example shown here has a lay bet on the top line unmatched 31 tics off market price (at odds of 1.8 as it happens), whilst the second line is another lay bet but at 4.5 is only 2 tics off market price. When you have more than one unmatched bet on a selection, the one closest to market is shown.


In the exchange window, there is a column called tidy. When a bet has been matched on a selection, a button will appear here which is clickable. Clicking this will get you out of your current position as efficiently as possible at the current price i.e., it will place a bet at the appropriate stake given the prices in the market at that moment to minimise any losses or lock in profits. The bot will cancel any currently pending bets you have on that selection.

As we can see here we can close our position on The Catenian for a loss of 0.03p by placing a back bet for 2.03 at 5.9. As the price changes in the market the Tidy values are updated. As we can see here a few minutes later and I can make about 42p by trading out now

Clicking on the blue Tidy box submits the bets, and as it happens I made 52p as the price changed (whilst I was saving that screen shot!)


The green Tidy Market button will be visible if there are any matched bets on the market. Clicking it will finalize your position on every horse you have bets on. It will also cancel all pending (unmatched) bets in the market.

15. WOM (Weight of Money)

This gets a little technical (just skim over it if you arent fussed out it!) The WOM calculates the available amounts to back against the available amount to lay. The faint grey line is the actual WOM, being ((WOMB*200)/(WOML+WOMB))-100 to attain a figure of between +100 and -100. WOMB = B + (B2*0.7) + (B3*0.5) and WOML = L + (L2*0.7) + (L3*0.5) The solid line is a moving weighted average of the actual WOM, which gives a more even and steady figure over time.


Case study 1: Back bet, 10, horse number 8 to win, whatever odds possible right now.

Back Stake = 10 Sure Bet = On Betfair Exchange Bet and persistence irrelevant in this case. Then just click a price on the back side of horse number 8. You will be asked to confirm in this case as Confirm bets is on. Case Study 2: Lay bet, 20 maximum liability, no goals to be scored in the first 10 mins of a football match, 2 tics better than current price wanted, cancel if unmatched at event start.

Lay Stake = 20 Fixed Liability ticked Odds Offset = 2 Betfair Exchange Bet persistence set to Cancel when market goes in-play Now the user would click the Lay price in column L the one closest to market. Clicking in L2 or L3 would offset by 2 from that point. Again, this would get confirmed before placing. Case Study 3: Lay bet, 6.33 at 4.6 odds wanted, take BSP if unmatched by start of event

Lay Stake = 6.33 Fixed Odds = 4.6 Betfair Exchange Bet persistence set to Take BSP when market goes in play