The Ace Place is a very simple piece of software to operate. The purpose of this online guide is to walk you through the initial setup steps and settings so that you can be up and running in very little time.
After purchasing a subscription the software can be downloaded from the Members Area (see “Active Resources” section in the left-hand panel after logging in). Unzip the file and run setup.exe to complete the installation process.
Licencing The Software
After starting the software for the first time, go to the File->Licence option and enter your Betting Automation username. Under the terms of the licence agreement you are permitted to operate the software from 1 PC.
Log Into The Software
Go to the File->Login menu option to log into your Betfair account using The Ace Place. Please remember to use your Betfair username and password here (this may well be different to your Betting Automation username!) You must accept the Betting Automation Terms and Conditions to use the software.
Check Your Settings
The File->Settings menu option is used to define the type of bets that you wish to find along with the criteria used. Each of the settings is described below:
WIN Market Betting
These checkboxes allow you to select bets in the WIN market if required. You can decide to look for back bets, lay bets or both. If you’re not interested in betting in the win market then leave both boxes unchecked.
PLACE Market Betting
These checkboxes allow you to select bets in the PLACE market if required. You can decide to look for back bets, lay bets or both. If you’re not interested in betting in the place market then leave both boxes unchecked.
NOTE: You must select AT LEAST ONE checkbox from the WIN and PLACE bet options. It is entirely up to the individual user which betting option(s) are applicable. For new users we recommend that you select just ONE option until you fully familiarise yourself with the operation of the software.
Your Betfair commission % is used as part of the Return On Investment (ROI%) calculations. Leave this as a the default of 5 if you are not sure what your own personal figure is.
If set, this will cause the current market to refresh automatically while you are viewing it. Otherwise you will have to manually refresh it by clicking the “Refresh” button. Be careful not to lower the refresh rate below 1000 milliseconds, or you may incur Betfair data charges! For new users, we recommend that you leave this option unchecked and refresh the races manually so that you can easily see what is happening.
Min Back ROI%
If you’ve selected one of the back betting options then this setting will only trigger a back bet if the ROI% is greater than or equal to this setting.
Min Lay ROI%
If you’ve selected one of the lay betting options then this setting will only trigger a lay bet if the ROI% is greater than or equal to this setting.
Weight Of Money (WOM) Triggers
The Ace Place calculates a weight of money indicator for each horse in both the win and place markets. These range from 0 to 100 (0 represents very strong pressure on the current odds to go DOWN in the short term, 100 represents very strong pressure on the current odds to go UP in the short term). The upper and lower WOM triggers allow you to set a visual indicator if the WOM indicators are above/below a certain value.
If a BACK bet has been indicated and the WOM figure is low then now might be a good time to place the bet, as the market is indicating that prices are likely to fall in the short term.
If a LAY bet has been indicated and the WOM figure is high then now might be a good time to place the bet, as the market is indicating that prices are likely to rise in the short term.
We personally use the WOM figures as a secondary confirmation indicator only.
You can configure the colour scheme used to represent BACK (default blue) and LAY (default pink) indicators.
Betting Window (seconds)
The Ace Place is intended to be used to analyse races in the minutes leading up to the “off”. You can define how long before the start of a race that you can look for betting opportunities. The default is 600 seconds (10 minutes), and trying to view a race outside of this window will result in a warning message with no analysis shown. By restricting your analysis to the minutes before the off you are ensuring that the markets are strong.
Analysing A Race
Click on any of the races in the left hand panel to analyse the market. If it is too early in the day (i.e. outside of the betting window for that race) then you will not be shown any data (a warning will be shown instead). The software will also automatically disregard any races that consist of a TOP HEAVY market. This is where a substantial part of the betting book is accounted for by just one or 2 runners. Our analysis has shown that such races can be unreliable and are best avoided.
Depending upon the type of bet(s) that you have selected to view, the analysis window will fill the applicable columns with information.
A value betting opportunity will have the odds and ROI columns coloured appropriately.
E.g. a value back bet in the win market will have the Back (W) and back ROI % (W) highlighted in blue (assuming you have kept the default colours). This is the point where you would head over to Betfair and place your bet. If the odds have slipped to a more unfavourable value then you may wish to “refresh” the analysis window to see if the bet still represents value.
A countdown timer is shown underneath the analysis window for your convenience. This shows how much time remains before the start of the race. An IN PLAY indicator will be displayed when the software detects that the race has started on Betfair. You should avoid betting on the race during this time.
Horse Analysis Window
Double-clicking on any runner in a race will bring up an analysis window for that particular runner. This can be helpful in gaining a deeper understanding of the current market view of the runner.
The top of the window shows the Betfair WIN and PLACE graphs which are fairly self explanatory. The sections below the graphs show the expected returns for all four bet types (based on our model), along with the threshold values required to obtain a value bet.
After you have finished analysing a race you can simply click on another race in the main left hand panel to continue.