The growth of betting exchanges such as 1xBit (review, bettors in must use a VPN) and BetBTC (review) as a trading platform has brought about betting software programs that can be used to place bets through sportsbook’s APIs (Application Program Interface). This type of software is also referred to as “bots” as in robots. These are computer programs designed to help with your betting.
Why use betting software
These APIs can be of great use to traders who use price trend modeling rather than betting knowledge to predict and take advantage of odds change over time.
Betting software can also be valuable for live in play traders who need to make bets as quickly as possible in order to get a price before the market adjusts and the opportunity is lost. The programs increase the traders speed by allowing one click betting with pre defined stakes. This is faster than betting through the sportsbooks website where the user must
- Click on the selection.
- Manually enter the stake.
- Click to make the bet.
- Click again to confirm the bet.
With a betting software that can all be done in one click.
Users can even make bets without being at their computers at all by setting automatic bet triggers based on predefined criteria such as the price trend, liquidity, score and amount of time remaining in the game. All of which the betting software gatherers from the data feeds of other APIs.
APIs can also be used for price change alerts, betting performance reporting, historical data analysis, stats crunching and normal betting.
How to find a good one
In the bitcoin landscape only BetBTC and Fairlay offer betting through an API. The best way to get an betting app to work with a sportsbook’s API is to write one yourself or hire a coder to do it for you. If you go to the marketplace only consider a program that will give you a free trial or let you pay monthly subscription fees rather than lump sum payments.
Stay well clear of companies that push market computer modeled betting software or trading tools and betting syndicates that say they will get you guaranteed profits. These are scammers who prey on gullible people. You can read about some typical sports betting scams at the Australian government run scam watch website.