Okay, so you know that with We Bet You Bet you get a ready-made portfolio of four tipsters covering five sports and that all bets are automatically placed for you by a bot on your Betfair account, but you may have some other questions about how it all works.
Here, we've tried to answer any of those queries but if there's anything we've missed then please let us know by emailing email@example.com
How much does it cost?
There are two prices to join - £250 for Tiers 1 and 2 (for those wishing to place lower stakes) or £500 for Tiers 3 and 4 (for those wishing to stake a bit higher). This includes VAT and the cost of adding you to the bot.
Are these charges recurring?
No. You'll only pay that £250 or £500 again whenever we make you £1000 profit if you're in Tier 1 or 2 or £2000 if you're in Tier 3 or 4. This means that if we don't deliver then we don't get paid and when we do then you're only giving back 25% of the profit you've already made.
Are there any other charges?
After one year and then payable annually there will be a charge of £24 for continued access to the bot.
Do I have to continue after reaching these profit points?
Of course not, although obviously we'd be surprised if you choose not to, considering all future payments will only ever be paying back a percentage of the profit you've already made.
What do you mean by 'Tiers'?
All members will receive exactly the same bets but different members will want to stake different amounts, so we are offering four Tiers or, in other words, levels of staking. The only differences are the cost to join (as above) and the amount each Tier will stake.
What will be typical stakes?
Due to different odds being used, stakes will vary across the various sports, and these will be around the average stakes for each sport in each tier:
Tier 1) £2.50 for horse racing, £3.75 for tennis and snooker and £6.25 for football
Tier 2) £5 for horse racing, £7.50 for tennis and snooker and £12.50 for football
Tier 3) £10 for horse racing, £15 for tennis and snooker and £25 for football
Tier 4) £20 for horse racing, £30 for tennis and snooker and £50 for football
What size betting bank is advised?
These stakes are based on using an extremely cautious approach for £1,000, £2,000, £4,000 and £8,000 betting banks.
Will I need the whole amount in my Betfair account?
No, but we strongly recommend that you have at least a third in your account and are able to top up if necessary. There are several reasons for this. The first is that there will be busy periods, especially at weekends when all tipsters are active when there will be a number of open bets. Secondly, while we have assembled an excellent and experienced quartet of tipsters, there will be occasional downturns and you need to be able to continue through these to take advantage of more profitable periods.
Can I change Tier once I've started?
Absolutely. Whether you want to start low to get a taste of how it works or move up when profit is made that’s fine - just let us know. If moving from Tier 1 to 2 or 3 to 4 there won't be an extra charge, but if moving from 2 to 3 there will be an additional £250 due, so that in total you will have paid £500 along with the other members of that Tier. If you want to drop down to a lower level then that is fine too – again, just let us know.
Can I stop when I want?
Yes. You can turn the bot off whenever you like, although that would obviously mean you stop receiving the bets.
Do I need to leave my computer or device turned on?
No. Once you've connected your account to the bot (which only takes a few clicks) then you don't need to be logged in or have your device turned on and as long as there are funds in your Betfair account the bot will carry on performing.
Can I still use Betfair for my own bets?
Yes, this will not make any difference to the rest of your activities.
Will you be able to access my own activity on Betfair?
Definitely not. We will not have any access to any of your details, history, activity or the like. This is a Betfair approved application and by working with Betfair we are able to guarantee that there isn't the potential for any data or security concerns.
Can/should I back the selections myself?
You could but it's not advised. To do so would unbalance the staking because some selections would inevitably be missed and prices would have changed on others.
Will liquidity be a problem?
It would be if we weren't aware that it could be a problem and have planned accordingly to avoid it being one.
We will be betting on mainstream markets and often close to the start when there is most money available and enough to cover all requested bets. We will only make bet requests when the market is offering enough to enable everybody to be matched at odds that are desired. We will also keep control of the number of members to ensure the markets we use can cover our requests.
Will there be a cap on the number of members?
As touched on in the last question, this is a consideration for the purposes of having enough money available on Betfair to place our bets and it would be counterproductive to exceed this, so it is an aspect of the service that will be closely monitored.
I already follow one (or more) of the tipsters' normal service. Will this just be a duplication of that?
No. The selections are likely to be very different because of the different times bets are made. With orthodox tipping services, selections have to be sent early to give the opportunity for the member to back them. Here, bets will generally be placed late when prices are often different and selections that appealed earlier no longer do so, while others have now moved to an attractive price.
Additionally, we're able to take advantage of live betting, late team news, changing conditions and so on, all of which will result in very different services.
Will I be notified of what is being bet on?
Yes. There will be a Telegram channel giving you notifications of selections which can be used on a mobile or desktop or both. There may be occasions when bets are made very late and don't allow enough time to alert you, but these will be in the minority.
How can I track results?
By logging in to the bot website, you will have your personal record of bets placed, the stake, odds, result and profit or loss, updated automatically and in real time.
How can I join?