Betfair's API has now been fixed after today's technical problems following today's upgrade:
Monday 12th February
ISSUE TYPE: API Problem ISSUE STATUS: Resolved ISSUE DESCRIPTION: Unable to View Markets
Monday 12th February -12.40
ISSUE TYPE: Befair API
ISSUE STATUS: Ongoing ISSUE DESCRIPTION: Unable to View Markets
COMMENTS: Following the upgrade, we are aware that some users are unable to view markets via the API and are currently investigating.
13.37 - We are aware that the GetMarketPriceCompressed call is not returning the first selectionId. This is being investigated as a matter of priority. Please accept our apologies for the inconvenience caused.
14:10 - We are aware that some users are receiving the error USER_NOT_SUBSCRIBED_TO_PRODUCT when requesting information from the Australian Exchange; this is being investigated alongside the issue reported earlier.
Monday 12th February - 18.36
ISSUE TYPE: API Problem ISSUE STATUS: Ongoing ISSUE DESCRIPTION: Unplanned API Outage
COMMENTS - The API is currently down and this is being investigated. Please accept our apologies for the inconvenience caused.
January 10th 2007: Users have been receiving an internal error message from Betfair but this has now been fixed:
Wednesday 10th January 2006
ISSUE TYPE: API Problem ISSUE STATUS:Resolved ISSUE DESCRIPTION: Internal Errors COMMENTS:We are aware that some calls to the API are returning 'Internal Error' intermittently. This issue is currently under investigation and we will post an update when further information becomes available.
12.40 - Update - We have now identified the cause of the problem and the this has been resolved.
The scratch trade is probably the single most important key to success in short term scalping of the UK horseracing markets on Betfair. Being able to Lay and Back at the same price without loss, and without even having to pay commission on the round-turn, is such a benefit that it has to be used to the absolute maximum. Anyone that learns how to use this powerful get out of jail free card to it’s full effect will make money as a scalper. A scratch trade is a winning trade because it will often get you out of the market before the price turns against you. A scratch trade may cost you some profits but it’s the losses that they save you that are important.
The scratch trade is like a house edge that’s actually in your favour: using the bid and offer you can make a single tick profit if the market price doesn’t move at all... continue reading.
The secret of successful trading on UK horseracing favourites in the final minutes before the off is simple: the less time you hold a position the better. When making trading decisions based on nothing more than the most recent price pattern you have to accept that things can turn against you instantly. As there is no way of knowing which trade is going to be the bad one then you have to enter each new trade with the assumption that it is going to be the one that gets you. Therefore it logically follows that if the trade that you have just opened is going to lose money then you should get out of it as fast as you can! The quicker you make yourself flat and get out of danger the better... continue reading.
Just in case you were wondering how I got into Betfair and what kind of success I had trading on Betfair you can check out the new About page which explains it all and has my full trading results for 2003, 2004 and 2005. These figures are from firstname.lastname@example.org and prove that I have made over GBP100,000 profit trading the favourite in the last 10 minutes before the off on Betfair's UK horse racing markets, and that I have placed well over 50 million pounds worth of bets.
Today we released the latest version of our popular Betfair trading software with yet more new features and improvements. BetTrader PRO v3.2 has a couple of bug fixes, some stability and security improvements, more Settings options for the Ladder trading interface and links to the website's Home, Demo Videos and Buy Now pages from the application's homepage. Nothing to earth shattering but always onwards and upwards! We are constantly working to improve and further develop BetTrader PRO which is why it is the most up to date Betfair API solution available on the market. It is better, faster and cheaper than any other software available. Damn right.