The second day on Betdaq was quite similar to the first one. Lots of bets in limbo. I don't know if that is a problem/bug of the software (both Geeks Toy and Bet Angel do this) or Betdaq API. I think it's a problem of Betdaq API. My internet connection is okay and I tried to trade on Betfair to compare it. This is a major problem limiting my trading experience on Betdaq right now. On the following screen is my API settings manager - I lowered some numbers in order to be sure I won't be blacklisted:
My API settings
Generally, I found some Betdaq markets to be nice and liquid. On the other hand, there are races which are not that liquid and trading them using my scalping style is a pain. I need to be more selective. I would say half of the races are quite okay for trading, however, not all of them are ideal for my style of trading. I am a scalper and I like to enter & exit the market very often, while doing many scratches. There is a liquidity in these markets but bets are not filled very quickly. Betdaq prices just copy the move from Betfair - the core of the market, the engine - it's still on Betfair.
Betdaq is definitely an excellent choice for traditional bettors or swing traders. For me, it's little bit more complicated but not impossible. I like trading on prices below 4.0 on Betdaq. It seems like there are more opportunities for me probably because horses with lower prices are considered to be favourites and people bet more on them. I have made a short video from my trading, showing some bets in limbo as well.
You can see my screen setup for Betdaq - I use a tick graph because the default Betdaq graph is not available in the software. I also have the betting exchange website opened in case of emergency.
Profit & Loss statement:
- 14 races traded
- 4 losing trades
- 71.4 % strike rate
My strike rate is nice, but those bloody bets in limbo are accountable for some of these losses. The biggest losing trade was in Listowel where a late withdrawal happened. The market was suspended for quite some time before Betdaq removed the runner. In the meantime, the market turned into in-play. And exiting in-play on Betdaq is a nightmare in-play market on Betdaq is a ghost town with some bots.