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Bet Angel Professional - Review

Bet Angel Professional



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Is Bet Angel the 'Rolls Royce' of trading software? Now with superb, risk-free 'practice mode'!




Is Bet Angel Professional the undisputed king of software for trading on Befair? Maybe. Let's have a closer look at this 'Swiss Army Knife' of trading programs. There are tools to get you into most trading strategies and tools to get you out of them too! This software is packed with all the features you are likely to need in order to make a profit on the exchanges. With bookmaking and dutching features in addition to single click betting, an advanced ladder interface, charting, automatic settings and more, this software takes some learning. However, the effort is worth it.

Getting started

Installing is easy and logging on requires only your Betfair details. A quick word about connection modes is required here - One great feature of Bet Angel is the ability to use different 'connection modes' to Betfair including a 'non-API' mode. Great for when Betfair upgrade or meddle with the API - you can still use Bet Angel!

Bet Angel Practice mode

The practice mode of Bet Angel Professional for Betfair is second to none. After using it for a couple of horse races I can tell you it has a real-market feel to it. There is no virtual balance to play with, rather you can bet whatever value you like to see what happens with the application. This is great news for newcomers or people who want to explore features they may be nervous about using with real money such as bookmaking, offsetting, trying stop loss and trailing stops. It even works with an Excel spreadsheet attached so those who want to develop their own automated strategies can now test them out.

One Click Betting & Ladder

The one click screen is self-explanatory. A single click in here and your bets are fired into betfair. For beginners there is a handy safety feature here - when you start there is a 'Confirm bets' option that is ticked by default. Once you are used to the software this can easily be turned off via the settings.

The ladder is a whole application in itself. You can view three ladders at once or tick 'enhance' ladder which shows one selection but with the profit calculator, graphs, charts and a market overview. I imagine that most traders will spend most of their time on this screen. One or two advanced features need a mention in the ladder. There is the trading profit column that runs alongside the ladder. This can be displayed with or without greening and shows what your position will be if you close at the price at that level on the ladder. Brilliant. On top of that you can now select a single click stop loss. With a click of the right hand mouse button you can ask Bet Angel to fire an automatic bet to prevent loss of profit or to minimise a losing position. Brilliant again. The trading profit calculator is another invaluable tool provided with the enhanced ladder mode. The latest version of Bet Angel now allows you to display up to 10 ladders at once.

Automatic Greening

One of the great things about trading is seeing a screen of green - potential profit on each possible outcome in a market. Bet Angel Professional has greening buttons next to each selection that allows you to do just that. The greening can be set to green against just one runner or the entire field! The new version in 1.20 even shows you what the profit will be before you click on the button. Bet Angel call this the 'closing position column' - a gripping description that really hides the potential of this powerful feature. See in the image the different possibilities when choosing to green by runner or across the field. The figure in the buttons show the potential profit against that runner if the buttons are clicked.

Charting

Now we come to one of the areas where Bet Angel Professional really begins to win. Viewing charts can help when trying to predict which direction a market may move. Unlike most other applications that only provide price and weight of money charts, Bet Angel Professional provides a whole raft of charts - some of which will be familiar to financial traders. There are candlestick charts, price envelopes, line charts. These can use current prices, last traded prices, user defined intervals, colours. For anyone that wants to look at charts then Bet Angel Professional is the software for you!
 

 

 

Profit Calculator

profit calculatorThe ladder screen is comprehensive and can be 'enhanced'. This means that instead of showing three ladders for three runners, the screen concentrates on one runner - but with added whistles and bells. For example, in addition to the ladder with all its flashing colours and lights, there is a price chart and weight of money chart. Handy for keeping an eye on the dynamics of the selection. Just above these is the 'profit calculator'. This gives you three options - close your trade at current prices, close at reverse prices or close at a manual price. After using this for ten minutes, it is hard to think how I ever managed without it before. A great tool. Then I found that there are in fact THREE calculators that can be 'undocked' from the main screen and used to look at three runners. Handy for when you are trading on more than one runner.

Excel

Integration with Excel is available for those that have an aptitude for programming Excel VBA. Using this, many different triggers can be set up and bets fired in automatically once these triggers have been met. A full range of commands are available such as 'offset, greening, stop loss', etc.

Dutching & Bookmaking

If dutching or bookmaking is the direction you wish to go in then Bet Angel has these two strategies covered too. You can choose which runners to include when doing either of these - or you can include the whole field. It is easy to play around and see which prices to ask for in order to make your profit before firing in the orders. Well thought out and easy to use.

Soccer &Tennis Tools

Bet Angel used to have a stable comanion in the form of Soccer Mystic. First of all this was a completely separate product that cost just as much as Bet Angel Professional. Then they made it free with every purchase of Bet Angel Professional. And now it is part of the main software.

Soccer MysticvSoccer Mystic allows you to model several scenarios of a football match. For example, if you think Manchester United will beat Chelsea 3-0 and will be 1-0 ahead inside ten minutes you can see what the price is likely to be at that time. Or at 45 minutes or at 65 minutes. Or at any point during the game. You can see what will happen to the price if there is an equaliser. You can see what all this does to the over/under markets. And best of all, you can do all of this before kick-off and look at several possible scenarios and forumlate your strategy accordingly.

Click on the thumbnail to the right to see a larger picture of the price predictor.

 

profit calculatorThe Tennis Trader tool does a similar job but with Tennis matches. You can plug in the current score and see what will happen to the prices should a game or point be won or lost.

These two comprehensive tools make Bet Angel stand out from the crowd and even if you don't use them regularly, you know they are there and can be called upon at any time.

 

 

Market Overview and Risk Meter

With the release of version 1.26.2, Bet Angel Professional for Betfair has seen the addition of a new feature that should, in theory, make it easier for a trader to spot good trading opportunities. From the guide:

Betting exchanges make lots of information available that could be useful when deciding how to trade a particular market. Bet Angel Professional can now display a wide range of information from last traded price to volume percentages.

The chart when used with the risk meter should be able to throw up entry points. The meter basically reads the market and decides if it is more or less volatile than it should be for that kind of race. Obviously, the more volatile a market, the more risk is involved with prices liable to shoot off in one direction or the other at any moment! See the examples below.

With less than a minute to go the prices are moving around and the risk has increased! Click on this thumbnail for a larger image.

Chart

But the same race 20 minutes earlier looked a lot different...

Chart

 

In Play Trader

Another great tool with Bet Angel Professional for Betfair is the in-play trader. This gives a graphical representation of how the betting is proceeding within a particular horse race. As soon as the even is turned in play then this tool comes alive with the prices moving all over the place giving an indication of who is leading the race in terms of the betting. You can then use the tool to place bets by clicking on the chart. Easy and exciting to use!

Advanced Automation

The automation feature within Bet Angel Professional is probably above and beyond what any of the competition can offer. Submitting bets based upon price and weight of money are possible. Also, a common requirement for some people is the ability to automatically place a bet a set amount of time before an event starts. For example, I might want to automatically lay the 3rd favourite in all races 30 seconds before the off if the price is greater than 7.0 and less than 10.0. Bet Angel will now let me do this. Other automatic functions include greening, cancel bets, close bets, place lay or back bets, use offsetting and stop settings. All in all, very powerful.

 

The pricing structure of Bet Angel is as follows: £4.99 for 24 hours use, £29.99 for a months usage or £149 for a whole year. You can also trial it for 30 days for £15 - Less than 50p per day! But you can only do this once. There is also a 'basic' version. The basic version however, does not have any of the advanced features that are available in the Professional version.

Summary

Bet Angel has now matured into a stable product and you can't really go wrong with this software. It is thoughrouly recommended and at the new price of £149 it only works out at £12.50 per month. No price at all to pay for something that can easily be used to win that much per horse race, football match or any event. And if you don't want to take my word for it then try it for free for seven days. Although I have to say 7 days is not long enough to get used to the software so consider the half price trial for a month.


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