This post will review Bet Angel. The easiest way to get the other betting exchange software reviews is to subscribe to the Let’s Compare Bets blog by clicking the links top right. The review series will compare the advantages and disadvantages of various exchange trading software or betting bots.
Exchange betting software makes it easier to trade bets on the betting exchange due to a number of innovative tools. So what makes exchange trading software different? It’s the tools. The user interface and the price. These are the general areas that will be reviewed. In brief, the conclusion from the BetAngel review found that Bet Angel is good for people who are serious about getting into trading sports bets. For people who are not confident with trading on Betfair a better choice of exchange trading software is Bet Trader (link goes to the Bet Trader review).
Bet Angel was created by Peter Webb. Peter Webb is a very successful Betfair trader and is one of the only Betfair traders who has been invited (and had the Kahunas to accept) to trade for a live audience. Peter Webb did not actually develop the software himself but instructed a software company to do it for him. Betfair made the programming of Betfair.com open to developers. Soon after the other main betting exchanges followed, viz Betdaq et al. Peter Webb gave detailed instructions to developers to create tools with the trader in mind, so that it makes it as easy as possible to allow people to make profitable trades.
Bet Angel offers a host of features that seasoned Betfair traders will absolutely love. However, for the uninitiated is could be a little daunting. Bet Angel is available in a free version to help newbies get used to the user interface and some of the basic features. The idea of Bet Angel basic is that user will get an understanding of the exciting opportunities to make regular profits on the betting exchange before upgrading to Bet Angel Professional.
Bet Angel offers two types of subscription; Bet Angel Basic and Bet Angel Professional. In fact, Bet Angel Professional also consists of two separate software applications which could be used as trading software in their own right. That’s Soccer Mystic and tennis trader. This post will review Bet Angel Basic and Bet Angel Professional, whereas Soccer Mystic and tennis trader will be review in it’s own right later.
Something that all the Bet Angel Software versions share in common is that they update with market data very quickly. A normal web browser updates once per minute. If betting software was that slow it would be a one way ticket to the poor house. Bet Angel refreshes more than once per second getting traders the market prices quickly.
Bet Angel Basic
Bet Angel Basic is free exchange trading software. For people relatively new to exchange trading Bet Angel Basic makes it possible to play with the basic features that all good exchange trading software should have. Namely, one click betting, real time charting (showing you how the odds have changed), open bets shown on the same screen and momentum indicator (which shows if a particular selection is gaining interest amongst punters).
The ‘greening up’ function is also important, which allows traders to hedge their profits across a whole field of selections. This is great because it locks in profits before the event has even started: a must have for successful exchange trading. For serious exchange trading with the professional tools that Bet Angel Professional offers it’s essential.
Bet Angel Professional Review
Any exchange trader will know that there are different trading strategies that suit different markets. Whether its swing trading correct score bets in football markets or scalping horse races 10 minutes before the off, Bet Angel Professional gives tools that are specifically designed for trading strategies suited to each market. There are various settings available to the user which makes it possible to fine tune the tools to make the most of which ever trading style is preferred.
The trading interface can be used in ladder or grid view, something available with most betting software. The look of Bet Angel Professional gives the impression that a lot of time and effort has been given to developing the software. It has a more has ‘polished’ feel. The user interface has a modular view allow allowing features to be displayed in a module, or separate re-sizable window. This gives the trader the option to customise the user set up. For instance, advanced charting features could be shown from multiple events, with a module to show the profit and liability across all trades, whilst still being able to access one click betting via the exchange ladder view. This allows trading to be streamlined allowing the trader more time to make important trading decision not struggling with different screens.
There is a significant range of features on offer which is beyond the scope of this post. Bet Angel Pro has all the features of the basic version. The key features and benefits will be discussed below. The Bet Angel website does offer an excellent selection of training videos and a well written user guide.
Bet Angel trading tools
Bet Angel Pro has features that allows traders to enter and exit trades with precession and ease. All the features that a trader might expect are present. A bug bear of traders is partially matched bets which can ruin a trade. Fill or kill orders are available to ensure that ‘offset bets’ are placed only if the original bet is matched. If it’s partially matched the offset bet is placed accordingly to make sure the trade works properly.
Stop loss and trailing stops are available. The stop loss allows trades that go against you to be closed down automatically. Trailing stops are available, which will close a trade for a profit if the market turns against the trader. Order types can be pre-defined to maximise results. So if a trader wants to secure a profit if the odds move in the wrong direction by 5% a trailing stop loss can be placed.
Connection to the betting exchange
Seasoned exchange traders may have been annoyed when their connection drops mid trading with other betting software. Bet Angel Pro has a fail safe connection feature that allows trading to continue even of the Betfair application programmer interface (API) isn’t available. The Betfair API is the means by which the software connects to the exchange market.
Bet Angel Set up
There is a modular user interface. Each tool or function is shown as a module (basically a box). These can be ‘undocked’ and moved around the screen or simply switched off. Functions that are used regularly as shown at the top of each screen such as calculators and maximum liability indicators. Screens and function can be undocked and moved to separate screens which allows multi screen trading.
Trades can be viewed, opened and closed across multiple markets using the trade calculators. The net gain or liability of all trades can be viewed easily. Positions can be closed easily with quickly with one click which speeds up the process.
trade multiple markets with Bet Angel
After perfecting betting strategies in one market it’s possible to use the same functions in other markets. Bet Angel Pro allows the trader to place trades on horse, soccer or other events all at the same time. It’s possible to be in more than one place at the same time due to having multi screen trading and automatic placement of orders. For pro’s this will allow you to enhance profits.
Charting with Bet Angel
Some markets can be very lively. Horse racing odds on Betfair can often be very volatile. To spot profitable selections it’s necessary to find odds that are trending. Charts of odds in real time are available. Bet Angel Pro allows users to add technical indicators to the charts.
Technical indicators are there to help predict where the odds will move, such and the momentum indicator. The ‘price envelope’ is used to frame movement in the odds and uses user defined moving averages. Volume indicators show how much money is entering a particular market. The volume of money entering markets can be use to predict if the odds will move in one direction or the other.
Advanced features of Bet Angel Pro
Many traders will have used spreadsheets previously to manage trades. Bet Angel Pro can link and integrate with Microsoft Excel. Microsoft Excel is a powerful spreadsheet program in itself. This takes exchange trading to a whole new level. Excel allows traders to use trading spreadsheets. The Betfair market can actually be viewed and traded from an Excel spreadsheet.
Excel can be used to make trading calculators and even completely automate exchange trading. Automatic betting software has become the a ‘holy grail’ for many people. Excel allows non developers to set macro which makes automatic betting on Betfair possible. What’s more Bet Angel have developed their own scripting language. Of course, this goes above the heads of most, but allows people to hire software developers to create custom trading packages. Most people say the truly automatic betting software is not possible and that some kind of human input is always needed. Something is for sure. If it is possible Bet Angel’s integration with Excel and it’s own scripting language has made it possible. Believe that any people who have created automatic betting bots would keep very quite about them, due to the work involved in creating one.
Something really handy is that it’s possible to use other peoples spreadsheets and betting bots that have been tried and tested. It’s possible to get these from betting clubs that specialise in betting software. One such club is Betting School which has been reviewed before on Let’s Compare Bets.
Advantages of Bet Angel
Bet Angel Professional has lots of great features for almost any aspect of exchange trading, especially on Betfair. For individuals with trading experience it is a gold mine of features and functionality. For people who want to take exchange trading further it’s possible to design or streamline personal betting bots. There are lots of features that will cater for most traders needs.
The stand out points about Bet Angel is the autobet function. Using the trader order functions traders can set levels for the software to place back and lays bets automatically.
Hedging a trade across multiple positions (otherwise known as greening up) is made easy.
Full customisation is possible using the link with Microsoft Excel. This is limited only by the user knowledge of Excel but can be taken further by using other peoples Excel settings.
Customer support is what you would expect for a professional software provider. Also more features are planned for release in the future.
Negatives of Bet Angel
There are not many. A complete novice would find Bet Angel Professional difficult to understand. Compare to Bet Trader Bet Angel is only better in terms of the added functionality for serious traders. The free version of Bet Angel is limited in functionality and loses hands down to the Bet Trader free version. The Bet Trader free version comes with one click betting and the option to hedge bets across all selections.
With so many features available Bet Angel Pro will benefit exchange traders with varying degrees of experience. The price plans available are suited to traders with various amounts of experience. Plans include a yearly subscription or monthly. Bet Angel Pro normally has a generous trial offer to allow traders to try before they buy.
Something else that our reviewers liked is that the website has lots of video tutorials and an easy to read user guide and a very reliable support team.
Update Now Bet Angel Professional also comes with software specifically for trading soccer and tennis. We didn’t want to make this post too long so Bet Angel Pro’s soccer and tennis trading reviews have been moved to a new post. Alternatively visit Bet Angel to learn more.