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I am interested in the auto sources, but I would like to know a little more.
I understand that Smartbet.io scans the markets for "Value" or "Arbitrage" picks.
Q1
Is it correct to assume that the arbitrage and value picks are the same picks, except the "arbitrage" picks should use the "Bi-Directional" checkbox in the auto source setup so that it will preform a hedge bet to guarantee profit if both bets are matched. (Site text states: "If the Bi-Directional option is checked, the system will also generate a hedge order for the reference book.")
And the "Value" pick is the same as the "arbitrage" pick, except it does not use the "Bi-directional" checkbox and thus is just a simple bet with no hedge.
Q2
Is the "reference book" for the arbitrage bet the same as the "Target bookmaker" in the auto source setup page?
Q3
Are the value picks based on finding a selection (e.g. Liverpool v Man C, Bet Home Win @2.30) where one bookmaker, usually a sharp bookmaker like Pinnacle has lower odds (e.g. 2.10) and another bookmaker, usually a soft bookmaker like Bet365 has higher odds (e.g. 2.30) and then the bot will bet on the higher odds for a "Value" bet, and if it is an "Arbitrage" bet also place a hedge bet on the sharp bookmaker's Draw and Away win to ensure profit whatever the outcome.
Q4
Do I need to have access to 2 or more bookmakers (Pinnacle AND Bet365) on the same bot to be able to use the Arbitrage "Bi-Directional" option?
Q5
I have my Bet365 account in GBP and my Pinnacle account in EUR, so they are not available on the same bot. If I just want to to do Value bets without the "Bi-Directional" option, is it better to do that with bot connected to Pinnacle or Bet365? Or does it not matter? From my understanding Bet365 is the softer of the 2 bookmakers and doing value bets on Bet365 s the better choice. Am I right in this assumption?
Q6
Could you give me suggested settings for a Value bet Auto source that has worked in the past for you that can be used in the Smartbet.io bot settings?
Type: Pre-game or live?
Target Bookmaker: Bet365 or Pinnacle?
Age: 0 seconds? (Actually, 0 is recommended on the site, so I have left it at that.)
Days: 7 days? 1 day?
Bi-Directional: on or off?
Skips: No skips, Ref or Target?
Profit Margin: Min%-Max%? 5%-1000%?
Odds: Min-Max? 1.01-1,000?
Market Liquidity: Min-Max? 100-1000?
I understand maybe you cannot give away secrets, but if there are any recommended guide ranges then I would appreciate any advice on any of those factors. Otherwise it will just be a case of expensive testing and adjusting on my part, and probably not even trying at all.
I will give a brief explanation of terms, please get back if something is unclear.
Every pick generated by our "Auto Sources" system is based on comparing the prices offered by two distinct books on the same market: The target bookmaker is the bookmaker that the system will generate a pick for and the reference book is the book that is used as a reference point for the pick. If the profit margin of betting both sides (target and reference) is above 0% then it is an arbitrage situation, else it could just be considered a value pick, meaning that no sure profit could be made by betting both target and reference, but there still be value on either side but this is up to the source owner to decide. For example, if pinnacle has 1.91 / 1.91 for a market (meaning that they believe that fair prices after vig are 2.00 / 2.00) then if a book that someone considers weaker than pinnacle offers 2.05 / 1.85 for the same market, then he could decide that there is value in betting 2.05 although it is not an arb.
Enabling the bi-directional option, the system will also create an order for the reference book. This is just a hedging option and is not related to prices. If you enable bi-directional in a source that generates picks for negative profit margins you will lose money as you would be betting both sides in a proposition with an overround above 100%
If you know what side offers value you should be always bettign that side only (setting it as target), unless you either need a hedge for arbs or you feel that both sides offer value.
Deciding what is value is obviously subjective, but common sense would dictate for example to use bet365 as target and pinnacle as referencce in an autosource. But this is also debatable, because someone may believe that when these 2 offer odds that would for example create a 5% profit margin situation, there could also be value in the sharper side, so they could choose to either enable bi-directional option for such situations, or create a new source with the sharper book as target.
Currencies have nothign to do with autosources, if you have a GBP account in book A and a EUR account in book B you would need to use separate bots anyway.
Skips have to do with having the extra option to skip a pick depending on who moved first, for example you could have a source with bet365 as target and pinnacle as reference but you only want picks when the prosposition fullfilling your criteria (profit margin in this case) has been created when pinnacle has moved first. So if both have 1.90/1.90 and then bet365 moves to 2.20 / 1.70 while pinnacle remains at 1.90 / 1.90 you may want to skip the pick for the target if you believe that pinnacle is still correct their assesment.
In general, besides obvious and common place views on weak/sharp books there are no other recommended settings or "secrets", the system just gives you the flexibility to build custom automatic sources based on whatever criteria you decide would uncover value, if for example you believe that pinnacle offers value for a certain sport, at a certain odds level and for a certain market liqudity but only when the other side moves first, then you could build a source that does generate picks that meet just those criteria.