I have been trialling Betmarkets for four months now and it's fair to say that it hasn't exactly gone to plan.
My bank is €107.59 down and just 2 of the 10 tipsters that I have been following have made a profit. The profit from those two tipsters was minuscule and they are both showing a minus edge.
The platform itself works fine and I still think it's a fabulous idea being able to follow tipsters and have all bets placed automatically.
I have been wrestling with myself on whether I should be judging the service based on my results and experience or by the usability of the platform. The problem I have is, to me it doesn't matter how good of an idea a service is, in reality it needs to work and make me money to earn a pass.
The fact that almost all of the tipsters I chose to follow lost me money on the platform doesn't give me much confidence.
On that basis, I have decided that I can't recommend Betmarkets at this stage. Until I can be sure that the tipsters that they have allowed on the platform are profitable, it has to be a fail.
Update Three: 10th May 2021
Results for my Betmarkets trial haven't got any better since my last update and I've now lost €71.51 since starting it three months ago.
There have been 2543 bets altogether from my portfolio of ten tipsters.
As with last month, seven of the tipsters that I chose are in a losing position and three have made a profit. The football tipsters are all struggling and it is the tennis tipster that is doing the best at the moment, with €12.61 profit.
I have to say that I am not exactly feeling positive about these particular set of tipsters after the first three months. However, I will keep my trial running to see if things get any better.
Update Two: 10th April 2021
It's been slow going for my Betmarkets review and I am down by €16.19 since I started the trial two months ago.
Out of the ten chosen tipsters in my portfolio, seven are losing, one is just about break even and two have made a profit. I also swapped one tipster out due to poor performance and have added a new one in.
The four worst performing tipsters are all football bettors. Coincidence or not? Who knows.
It's an easy trial to run, as I don't actually have to do anything with regards to placing any bets or recording anything. So, I'll keep this running for as long as possible, until it's clear whether it's going to work out or not.
Update One: 10th March 2021
It's been a bit up and down in the first month of my Betmarkets review, but the good news is I have made a profit, even if it's just a small one.
Throughout the month, the profit graph has been all over the place and even up until a few days ago I was in the red.
It just so happened to be a good week just as this update was due and the profit has built all the way up to... €8.68.
The 10 tipsters that I chose for my portfolio have collectively placed 785 bets and 6 of them have made a profit over the last month.
This means that fees will have been deducted and these add up to €7.41. This is the downside to having a portfolio, as you could have an overall loss but still have to pay fees each quarter to tipsters that have made a profit.
Not a terrible start and I am looking forward to seeing how this trial progresses. I'll be back in a month with another update of my portfolio.
Introduction: 10th February 2021
Imagine if you could follow several tipsters at once, without having to place a single bet yourself and better yet, only pay when you make a profit.
I recently came across Betmarkets, a platform that allows you to do just this. It enables you to copy professional bettors and automatically place the same bets as they do.
The process starts with creating a free account and funding it, then you can start choosing which tipsters you would like to copy.
You can filter through tipsters by risk/return level and then simply allocate a set amount to each one you choose.
From then on, everything else is taken care of by the Betmarkets service. All you need to do is check back periodically to see how much profit you have made.
I have set up my own portfolio to try the platform out and I have tried to make it diverse, covering a variety of sports and risk levels.
Bettors can be added or removed from your portfolio at any time, so you are in complete control in this area. They each have predefined sports so you can choose to bet only on specific sports if preferred.
The full history for each bettor is available to view and performance is also shown as a graph to make it easier to see how they are doing at a glance.
You only pay fees at the end of each quarter, providing the bettor made a profit. This is set at 20% of the profits, so you keep 80%.
Betmarkets work with several betting providers to make sure bets are placed at the highest odds available. Think of it as being similar to a social investment platform, such as eToro, where funds are allocated to traders to copy their positions.
I have picked 10 tipsters to copy, allocating €100 to each of them. I'll be monitoring their progress and come back to your with an update on how I'm getting on with the platform next month.