This automated Australian Betting Software known as the Grey Horse Bot will allow you to bet on the Australian Betfair markets automatically.

Let me show you a system I use for winning on the Australian Greyhound markets.

Up to now betting in-play horse racing markets on betfair have not been possible but now that is all changing which will make this software even more useful.

Since Betfair have opened in Australia they have become very popular and it stands to reason that the Australian public have become more interested in the types of betting you can do through Betfair.

Unlike a bookie, Betfair allows you to take either side of the bet, which means you can back a horse to win in the traditional sense or you can bet on it to lose which is referred to as a “lay” bet.

It is important that you understand the difference in the bets especially if you are going to use automated software like the Grey Horse Bot to bet for you.

When you back a horse to win you will choose a stake say $10 and then except the odds that are available which could be 5/1. If the horse you choose is successful then you will win your stake multiplied by the odds that you took and also get your original stake back.

If you lay then you are effectively acting as a bookie which is a very important difference so I will show this using actual calculations.

We are going to lay a horse trading at 4.0 on Betfair.

With all prices on Betfair you minus 1 in order to get the payout value so in this case 4.0 become 3.00.

$10 x 3.00 = $30

If you lose the bet (your horse wins the race) then you have to pay out like a bookie, so in the above case it would be $30 but if you win the equivalent of your original stake.

Unlike a bookie though where they have to allow you to bet on every runner you can pick and choose which one to bet on exchanges.

This opens up all kinds of possibilities for people who want to create profitable betting systems on the Australian betting markets.

Recently the Australian Government have started to allow betting “in running” on certain races, which means you can bet after the race starts and all the way up until the winner crosses the line.

The Grey Horse Bot has an “in running” feature which allows the bot to watch the runners and prices and not bet until your settings have been matched.

As an example winners are generally shown on Betfair by their prices reaching 1.01 and generally if their price goes down to 1.10 or below they are the likely winners. So just set Grey Horse Bot up to only bet on the first horse whose price goes below 1.10.

The Grey Horse Bot was originally designed for the UK market and has been extensively used over the last 3 years by hundreds of people and the Australian version has all the features that the UK version has and works seamlessly with Betfair Australia.