will the toy work for me

[Colliejan]

please can you tell me if the toy will allow me to dutch 2 or 3 horses in a race and set a profit target and also specify a maximum spend to achieve that target? Thanks.

[layallday]

https://www.geekstoy.co.uk/UserManuals/EN/Multi%20Bet%20Tool.html

[Colliejan]

Hi Layallday,
Thanks for the info. I can see the Toy allows several types of betting, but I think what I need is to combine 2 different types - as follows:-

Say I want to dutch between 2-4 horses aiming for a profit of £10 - that is straightforward I think.

Say I want to dutch the same horses for a fixed stake, regardless of return, also straightforward I think.

However what I want to do is combine these 2 functions, and set a profit target with a maximum amount I am prepared to bet to achieve that target?

Does anyone know if this is possible please?

Thanks again in advance

[custard]

However what I want to do is combine these 2 functions, and set a profit target with a maximum amount I am prepared to bet to achieve that target?

I advise you to approach it from a different direction. You should first ascertain the amount you wish to stake and then place your bets according to the prices available. No software will allow you to ignore the prices which the market actually offers. Everybody wants to win and nobody wants to lose. In trading there is no "magic wand" available to inflate profits to an acceptable level and either you take the prices on offer or you do not trade.

[Colliejan]

That would be a 'no' then! lol
I have a carefully honed strategy (many hours invested) that is highly successful and if I alter it to suit the bot then it won't work - simples!
The toy is not going to work for me it seems. Thanks again.

[custard]

That would be a 'no' then! lol
I have a carefully honed strategy (many hours invested) that is highly successful and if I alter it to suit the bot then it won't work - simples!
The toy is not going to work for me it seems. Thanks again.

It isn't a question of altering your strategy to suit The Toy. It's simply a question of available odds. I am a very "black and white" person and have read your original post literally.

However what I want to do is combine these 2 functions, and set a profit target with a maximum amount I am prepared to bet to achieve that target?

Will you please rephrase this to clarify exactly what you mean by these words ? You seem to be setting both hoped for profit and stake from the outset. Is this really what you are saying or have I misread you ?

[Zweistein]

@Colliejan

With the Multibet tool incl. in the GT you can do what you want.
F.e. lay 2 horses at 1.9 IR, so dutch-(hedging) them, you can set your straight stake or liability for a specified amount, you control your risk and depending on the odds you pick, you specify your profit.

I hope I didn't disclose your highly successful strategy, but frankly speaking, you need to be damn good in picking races to make it work, imho it's a slow-death strategy, good luck anyway.

[Colliejan]

Hi Custard,

It is all about risk and reward. I am looking for a minimum return on investment. The strategy aims to return a specific percentage of bank per bet - compounding with each bet.

You will appreciate that the ROI of each bet will change depending on the odds of the various horses in the dutch bet. (for each £1 bet). As I am working on a specific required return, then the amount I need to invest changes with each bet according to the odds.

As there is a maximum amount I am prepared to risk to achieve my return then I first need to determine how much I need to win and then, based on the odds available on the horses I want to dutch, I can decide whether the bet fits the risk/reward ratio I require.

Controlling this aspect of the bet is the trick. It can be done by monitoring the actual cost of the bet compared to the return required or monitoring the probability of winning of the chosen runners and limiting the bet that way.

If the probability goes over a certain percentage, or the ROI goes under a certain percentage then it becomes a no bet.

I hope I am making sense?

Thanks again.

[Colliejan]

Hi Zweistein,

I appreciate your thoughts but I don't think we are on the same wavelength.

Thanks anyway.

[custard]

Yes, you are making sense and we are on the same wavelength. The Toy is able to place bets but all the "thinking" you wish to apply behind those bets is beyond its capabilities.

You will need a bot in the true sense of the word, or at least software which is compatible with Excel. I am not clever enough to make my own bots and my own efforts with Excel have tended to be somewhat primitive.

There are others here who can point you in the right direction.

[Colliejan]

Thanks Custard. That is much the same conclusion I had drawn so far. I have already started to look down the route of other well known bots, mentioning no names!! Thanks again.