FormGenie-Bot: Pre + Post Purchase FAQs
If you can't find the answer to your question below, please contact us.
We've gone into a great level of detail about every parameter. Simply click the Parameters in the above FormGenie Bot navigation tab and select the row in which the parameter on the bot you want more info on resides. You can also import settings we've created. See Sample Settings in the above FormGenie Bot navigation tab.
Yes. We've created lots of profiles (settings) for you to try including those used for our home page Bot results. Simply start the Bot and select Import Profiles and the Bot will import your chosen settings from FormGenie.com.
If you have any backs bets set to anything other than Submit Back Bets OnLoad (for example a Recovery based profile), you will need to keep you PC/Mac running until after the last race in order that the bot can submit your bets at the times you've specified.
If you have set to Submit Back Bets OnLoad, then you will see all your bets submitted on the loaded race tab. Once you're satisfied this is the case you can then close the bot and your machine down.
To check you bets you can always login directly to BetFair and you can see what's been matched/unmatched.
The Race Tab will load and any bets will be displayed if the market has been Activated. Any markets that are pending will not yet have any bets associated with them. You can check this by logging in to Betfair directly.
The bot will substitute selections that become NonRunners by promoting the next ranked horse as long as the FormGenie Dutch 'runners to selections' ratio is still satisfied. However, the bot will only do this if the Min Stars parameter (Row 6) is set to zero. When a substitute is used it will be highlighted in orange. If the original Top Rated is a non runner, the next ranked will be promoted to Top. An up-arrow in the blue cell will indicate this has occurred. Rest assured there is a strong correlation between the FormGenie ratings rank and winners - so promoting them is perfectly logical.
Yes you can. However, be careful not to endure prolonged non-transactional use (Test Mode) as Betfair may conclude you are data-mining. So always make sure you place small bets on the exchange every few days.
No. You have to either close down a loaded tab (make sure you don't have any bets waiting to be submitted first) or start another instance of FormGenie Bot and load a different profile. The reason for this is that running multiple profiles simultaneously will confuse the bot when operating recovery strategies or % of bank rules etc. So we decided it was safer to prevent multiple tab use.
Yes. However you would need to start a 2nd instance of the program (sounds complicated, but you just start the program again - there you have two bots running). Then change the profile in the second bot to suit. This is useful to compare strategies for the same day's racing.
We try to change the mindset of users who ask this because quite simply it's a far too simplistic approach to the problem. It's vitally important to understand that it's so much more about the cumulative probability (odds) per event in a losing sequence than the sequence itself. In other words, you are far more likely to blow a bank with 5 consecutive losers at 1/4 than you are with 20 losers at 16/1. So to quote a figure for the often asked 'what's the longest losing run?' would be meaningless.
The answer depends on so many variables. Some of these can change after the ratings have been exported and so bare less relevance to the quandary when running a simple query. Such as going changes and key non runners. Also factors are: race types and number of runners along with the odds range of selections you're happy to operate within (min Back Price and Max Back price, Min Coupled Odds and Max Coupled Odds.) The key is that FormGenie-Bot will do clever things to minimise and manage the risk to the bank. The other aspect to note is that no matter what the longest winning or losing run has been in the past there is no guarantee these figures won't change in over the course of the next year's near 10,000 races.
Betfair allow stakes below £2 only if the potential winning return is at least £10 on the specific horse. So for example the Bot will place £1 on a horse if it is priced at >10. If the price is less then the stake is adjusted above £1.00 to return a min of £10.
Yes this is possible using a VPS (virtual private server). Sounds complicated, but it really isn't. We can reccomend a VPS a supplier where you can install FormGenie-Bot. You then login from your preferred device and run the bot as if it was sitting on your iPad/Tablet/Smartphone. You are the only person that can access this account. The added benefit is that you don't have to leave your own PC on all the time since the VPS will be on 24/7. This can be achieved from about £20 per month. More details on request.
The Bot, when using un-optimized profile #8, places bets on all the same selections provided to clients and these winning selections (along with # races played so far and the current Dutching strike rate) are displayed on the home page. Where there are differences in Strike Rates and Profit to what the Bot actually places are explained by any of the following scenarios:
1. Odds available at the time of bet submission by the Bot don't match at least Evens (allow for Betfair SP being more generous).
2. There is a runner in the race that is trading at =< 1.95 and is not a FormGenie selection. The Bot will void these races (see Parameter in row 6).
3. One or more of the original FormGenie selections is now a non-runner and the Bot has made substitutions based on the next ranked horse in accordance with FormGenie ratings. These promoted horses are not shown in the home page so as to avoid confusion with existing clients that do not use FormGenie-Bot. You have to remember that not all of our clients are Bot users.
4. When a losing sequence is shown, the stated profit is 'suspended' until recovered on the next winning race.
5. The home page includes Irish races so check to see if you have these selected as an option.
6. The Bot uses the feature 'Provisional Results'. You may not have this option selected.
7. The home page Bot is not using Steamers
What Size Bank Do I need? This is not so simple to answer because each set of parameters or alteration to them may require different levels of funding. Each user's attitude to risk/staking level etc and resources are different. The smallest bank we advise is £500 (for profile #1). However, even though they can be highly lucrative, the recovery plan Profiles require large banks to negotiate the inevitable losing sequences even though the Bot goes someway to mitigating these liabilities with some innovative features.
We've put together a table of suggested banks v target and average daily profit below to give you an indication of the level of funding required.
To replicate the Dutch Recovery Mode as reported on the home page (Profile #8) settings for an expected profit of around £40 to £160 per day (winning £10 per race), you would need up to £2800 (revised as at 15th Feb 2018). The thing to note is that you may not actually need this level of bank as you could go weeks at a time only ever requiring a bank of several hundred pounds, but then you could hit a bad sequence and would have required the full amount to facilitate a recovery. You can reduce this bank amount, by using strict control parameters (such as reducing the number of Dutch selections / operating within a narrow odds range etc).
Profiles and Suggested Banks
Banks can be proportionately adjusted with changes made to Stake/Target/Max Liability.
|#1||Top Rated Only (Power User) Win backs||£10||£10-£20||£500|
|#2||Top Rated Each Way (Super User)||£10||£10-£50||£1000|
|#3||Dutch Simple (level stakes Super User)||N/A||£20-£40||£1500|
|#4||Dutch Equalize (variable stakes)||£10||£20-£60||£500|
|#5||Dutch Recovery||£4||£16-£60||£1400||When changing the Target amount make sure you change Max Liability (row 1) and Stop Loss (row 1) and Stop Profit (row 1) by the same proportions. Target Multiple will update automatically|
|#8||Dutch Recovery Pro (as reported on home page)||£10||£40-£160||£2800||The default settings cluster is to demonstrate/mimic the home page results as close as possible. We encourage you to use it unchanged in Test mode for at least a 100+ races (a few days) so you can see how the Bot performs without some clever tweaks. This will help you understand it better. However, you should deploy the suggested optimisation settings before going live. When changing the Dutch Target amount make sure you change Max Liability (row 1) and Stop Loss (row 1) and Stop Profit/ (row 1) by the same proportions.|
|#9||Dutch Recovery Stop At Profit||£25||£50||£1800|
|#10||Dutch Recovery Plus 1 Boost||£4||£20-£40||£1500|
|#11||Tight Dutch Recovery||£15||£43||£750|
|#12||Dutch Recovery Semi-Pro Two Qualifiers||£10||£40-£90||£1400|
|#14||Top Rated Target + Recovery||£5||£20-£30||£1000|
|#15||Top Rated Insurance + Intelli-Stake||£20||£60-£80||£1200|
|#16||Insurance Top Rated Recovery||£20||£40-£60||£1800|
|#17||Dutch Recovery Sweet Spot||£5||£25-£30||£800||When changing the Target amount make sure you change Max Liability (row 1) and Stop Loss (row 1) and Stop Profit (row 1) by the same proportions. Target Multiple will update automatically.|
|#18||Dutch Recovery High Target Bank Ratio||£10||£45-£160||£1450||The BOT uses an intelligent Variable Stop Profit (new since V3.0.3) figure and stops when this figure is reached. The Bot will then reload the next day starting from zero.
This and #19 is a setting preferred by many users and at our current Bot price of £249 (Gold 1 month) you should recoup this cost fully within just a few days!
|#19||Dutch Recovery Fixed StopProfit||£12||£35-£50||£1900||The BOT uses an intelligent Variable Stop Profit (new since V3.0.3) figure and stops when this figure is reached. The Bot will then reload the next day starting from zero.
This and #18 is a setting preferred by many users and at our current Bot price of £249 (Gold 1 month) you should recoup this cost fully within 10 days!
Our advice is that since you'd be owning the Bot + Ratings for a long time, there is no need to rush deciding your strategy. You will be able to experiment in Test mode (simulating real activity without using actual funds) for as long as you need to. A couple of weeks testing will span several hundred races so you will be able to see the likely extremities for various settings and tweak accordingly. FormGenie ratings are admirably consistent, but be as equally prepared for the bad runs as you are for the many excellent days. Set your targets to modest levels as you'll be surprised how the profit level will creep up.