Copy Bet is an interesting new take on betting platforms and tipster services. It allows you to automatically bet along with other users and in theory, profit.
Introduction to Copy Bet
If you didn’t make a whole lot of money through your betting and I offered to do so on your behalf, what would you say? Honestly, it would be very reasonable to dismiss me. But, what about if I were the top tipster out of hundreds and I’d been active for well over a year, all with proofed results?
It is a concept that is not entirely foreign and I have seen a number of services that are similar before now, but today I am looking at Copy Bet. This is a little different to the majority of services that are similar however in so much as you have to do nothing.
The Copy Bet team have set the service up so that you can link your betting accounts with the service, sit back, and have somebody else make money for you. It sounds too good to be true right? Let’s have a look at Copy Bet and see.
What Does Copy Bet Offer?
When I have looked at services similar to Copy Bet before, I have genuinely struggled to categorise them. It would be easy to refer to the whole arrangement as a tipster service, or even a stable of tipsters, but that isn’t strictly true.
I think that the best way of describing Copy Bet is as a tipster supermarket. This means that you have a massive variety of tipsters in one place, and you can add which of these you want to your metaphorical cart. There is also a wide variety of statistics for sports included with Copy Bet, something that I will explore shortly.
There a massive number of tipsters that you can take advantage of through Copy Bet. I have mentioned the hundreds, but to be precise, there are 501 at the time of writing. This is a massive amount to choose from.
Fortunately, you don’t subscribe to tipsters through Copy Bet in a typical fashion which means that in theory, you can sign up with as many as you want. This can prove expensive in the long run. Fortunately, the UI for Copy Bet allows you plenty of ways of sorting and filtering services.
When it comes to numbers etc. it goes without saying that there is no tangible method of measuring these with Copy Bet. With so many different services, it seems apparent to me that there should be little in the way of consistency when it comes to things like strike rates and staking plans. As such, you should be considerate of these factors when you are looking at the different services.
An interesting aside that is offered through Copy Bet are statistics on a wide number of sports. These range from things like football, which we all recognise, to Bandy. Something of a precursor to ice hockey which is apparently hugely popular amongst fans.
I did however have to Google the term in order to find this out. These are an interesting addition to Copy Bet and I don’t think that the value can be overstated, however it is worth noting that understanding statistics doesn’t help you with Copy Bet due to the nature of the service.
How Does Copy Bet Work?
When you ask the question of how Copy Bet works, there are two very distinctive trains of thoughts in my book. The first of these is how the service works, and this is very unique. The service links with your Betfair account and from here, your funds are used for automatically betting in line with your chosen tipster.
The legitimacy of Copy Bet isn’t something that I find questionable so in that respect, I believe that your account is safe. The problem however is that you have no control over your money which is a very real problem. So much so, that it ties in very nicely with the second and much larger issue.
Looking at the wider results for Copy Bet, there are a lot of tipsters who haven’t made a profit. Of those who have, there are a large number which seem to be no longer active after reporting a small profit. The point here is that not only are you effectively giving Betfair access to your account, but you have no idea of the betting strategies involved etc.
Some of the tipsters on Copy Bet will exclusively trade to scalp, others will bet on a strategy etc. The point however is that all of these tipsters are ultimately not overly accountable.
What is the Initial Investment?
Whilst some of the many tipsters on Copy Bet are free to follow, a number of them do however charge a weekly subscription fee. This requires you to deposit money through Copy Bet where it is converted to their own currency.
This is then used to pay the tipsters. Quite why this rather convoluted process is in place isn’t ever fully explained. I believe that it is likely a way of helping Copy Bet to ensure that they collecting their cut of the commission, but from a consumer standpoint, it is a little off putting.
What is the Rate of Return?
The income potential for Copy Bet will vary massively based on a number of different factors. First of all, there is the question of stakes.
You don’t have a massive amount of influence in terms of how much you are betting. Obviously, the more you stake, the higher the yield, however this is a double edged sword and opens up the possibility of losing more money. Ultimately, this will depend on the tipsters that you are using, however I do think that that caution should be paramount.
Conclusion on CopyBet
If there is one thing more than any other that I think it is important to note about Copy Bet, it is that it is seemingly still in a beta phase. In spite of this, it is exceptionally polished and I can see no technical reason why this couldn’t be launched as a complete product tomorrow. There are however several and varied reasons why I don’t think it would be however.
First of all, I want to talk about the tipsters on the platform. Some of these are clearly doing very well. They can demonstrate a profit, are active and everything appears to be above board. Unfortunately, from what I can see there is no vetting process here however. This opens a lot of different possibilities.
For example, will somebody be less conservative with your money than their own? Will they be leveraging your betting account in order to line their own pockets? There are a lot of reasonable questions that I don’t believe are really answered by Copy Bet.
In fact, I am going to quote in full their disclaimer surrounding the service as I think it represents some very interesting reading. More so than the usual things that I see:
“Working with the copy betting platform involves significant risks as there is always a possibility of losing money.
Results of your work may differ from the provided examples, the experience you have, and theoretical calculations, while the previous results can’t guarantee the same in the future. Once the risk factor when copying bets is considered as high, you should take into account all actual risks while working with such platform.
This is what Copybet claims:
Not exactly new though.
You should assess all risks that are involved in operation of the copy betting platform in accordance with your purposes and financial possibilities, and only then start working. If you don’t have additional funds that you can afford to lose, you shouldn’t start working with the platform.
Any operations involving the copying of bets or specific strategies imply actual risks of losing of money. There is no absolutely safe strategy, which excludes risks of accidental losses, as well as no one can guarantee the profit or the total absence of loss. You shouldn’t invest or risk the money that you aren’t ready to lose.
Operation of the copy betting platform involves risks of using computer technologies and data flow systems. When you start working with the platform, you should realize that such risks as hardware and software failures and inaccurate external data flows provided by third party service providers, may seriously affect your activities.
Neither the Company in general nor any of the Company’s employees bear any responsibility for any bugs or failures when there is no proof of willful unlawful acts. The Company is in no way liable for mechanical or any other damage to communication lines, system or database errors, as well as any other failures, which are not caused by the Company’s activity.”
This suggests that there is a lot that can go wrong and Copy Bet don’t necessarily want to be held responsible.
So, what does all of this mean?
Honestly, I can see something like Copy Bet being the future of tipsters. In the digital age and with trading being increasingly popular, it seems like a logical progression.
Unfortunately, I am not convinced that Copy Bet is the right thing to look at here and now. Once the service moves out of the beta phase, it might be worth looking at. If you don’t mind a lot of risk and really don’t have the time, then Copy Bet may be worth consideration now.
For me though, it just carries too much uncertainty and there isn’t enough accountability from within Copy Bet.