Book arbitrage is the process laying the book at more than 100% on the lay side. In theory this shouldn’t be possible but, because the market wobbles, sometimes the book will trade above 100% and it is possible to lay the field and make money. These aberrations in the market only occurring infrequently and therefore it is only possible to take advantage of this incorrect pricing using the automated bookmaking feature in Bet Angel.
First you need to set the target margin in Bet Angel. To do this you need to visit the Settings Editor and set the required margin. If you are performing book arbitrage you need to set this to 100% as the instruction in the settings editor is telling Bet Angel to fire orders to the market if the book% is higher or equal to 100%. In reality you may want to set this to a value higher than 100% as you would like to get something from this strategy. When you have set this margin trigger you need to visit the bookmaking area to set up your book. In this case we are looking for the lay side to go over 100%.
Go to the bookmaking area on Bet Angel and click on the lay all tick box. When you are ready to set Bet Angel in motion click the auto bet tick box. When Bet Angel sees a book% of over 100% on the lay side it will automatically fire a lay all order into the market at the correct odds and stake needed at that split second in time. However, unless you are fortunate you are likely to get unmatched bets using this strategy so make sure you think about what you will do with unmatched bets.
You can also use the auto bet function in your normal bookmaking activities as well. It always makes sense in busy markets to ask for a certain margin rather than try to enter the order manually.
Summary of bookmaking function
To create a book make sure you go through the follow steps
1. Decide what stake and staking method you will use
2. Create the book using the tick boxes available on the screen.
3. Make sure you create a book over 100%
4. Use autobet to fire your orders in when the book reaches your margin target
