API's explained
A trading platform or API (application programming interface) is an alternative interface for trading the sports markets on the betting exchanges, mainly Betfair as this is the biggest and most popular exchange and therefore has the greatest liquidity which provide perfect conditions for trading.
When trading, speed is key and Betfair's own interface is just not fast enough to enable trading success long term as there are several stages to go through before your order is even placed in the market. The refresh rate has to be manually forced by clicking on the "refresh" tab every few seconds and is just another time consuming problem you could do without. Having the freedom to monitor what is going on in the market and also what is happening on the field of play, course or court etc are really the only 2 things you need to be concerning yourself with. Anybody who is serious about making it as, either part time as a secondary income or a full time committed sports trader will undoubtedly need to use some form of software/API.
Betfair and Betdaq platforms still operate using a "grid" style betting interface. The grid works perfectly fine when placing straight Back or Lay bets and is generally accepted as a tolerable and decent enough method by probably about 95% of users. Irrespective of this, due to the increasing popularity of sports trading and its fast-changing environment and volatile nature, something else was needed, something more responsive and lightning fast. This obsessive desire for speed led to the birth of the first API's for sports markets.
API's were originally developed with one thing in mind - to give you the ability to submit orders into the market and then get them matched (taken) as fast as possible thus giving you the edge over the users still working with the exchanges original interface.
An API is a direct entrance into the betfair’s markets - bypassing the regular betfair interface. Thus, Backs (sells) and Lays (buys) can be transacted quicker. The response time with an API is faster; and the refresh rate (displays of up to date odds and amount of money available) can be set at sub second intervals. An API also allows the end user to customise the application to his own preferences; the trader can set his preferred market display styles, staking level buttons, refresh rate and a whole multitude of other options.
Crucially, an API also incorporates a constantly updated weight of money indicator along with an alternative (must have) interface known as the "ladder".
Considering the fast response, functionality and multi-tool features of an API's interface, it is essential that the trader with serious ambition should become familiar with the use of API.
You really do need to use an API as your default trading interface.
