Football 'keep' bets question

[jamesedwards]

If I take an unmatched position before a football game kicks off and then set it to 'keep', how is this bet managed by Betfair during goals etc?

Will it stay open throughout the game until it is either matched or the game ends?

What happens if a goal is scored that crosses my open position? Will the bet just get matched at my original ask price in the mop up as the market reopens following the goal? Or will I get a better price?

[Derek27]

If I take an unmatched position before a football game kicks off and then set it to 'keep', how is this bet managed by Betfair during goals etc?

Will it stay open throughout the game until it is either matched or the game ends?

What happens if a goal is scored that crosses my open position? Will the bet just get matched at my original ask price in the mop up as the market reopens following the goal? Or will I get a better price?

Trading the under market with "keep" bets placed before the kick-off, I think back bets are cancelled after a goal, lay bets remain. I'm not certain though and if that is correct I'm not sure if it's reversed for the over market.

Just place a small lay at a short price and a back at a high price before you trade your next match.

[jamesedwards]

If I take an unmatched position before a football game kicks off and then set it to 'keep', how is this bet managed by Betfair during goals etc?

Will it stay open throughout the game until it is either matched or the game ends?

What happens if a goal is scored that crosses my open position? Will the bet just get matched at my original ask price in the mop up as the market reopens following the goal? Or will I get a better price?

Trading the under market with "keep" bets placed before the kick-off, I think back bets are cancelled after a goal, lay bets remain. I'm not certain though and if that is correct I'm not sure if it's reversed for the over market.

Just place a small lay at a short price and a back at a high price before you trade your next match.

Thanks. I will ask Betfair and see if they know. I will report back.

[Derek27]

If I take an unmatched position before a football game kicks off and then set it to 'keep', how is this bet managed by Betfair during goals etc?

Will it stay open throughout the game until it is either matched or the game ends?

What happens if a goal is scored that crosses my open position? Will the bet just get matched at my original ask price in the mop up as the market reopens following the goal? Or will I get a better price?

Trading the under market with "keep" bets placed before the kick-off, I think back bets are cancelled after a goal, lay bets remain. I'm not certain though and if that is correct I'm not sure if it's reversed for the over market.

Just place a small lay at a short price and a back at a high price before you trade your next match.

Thanks. I will ask Betfair and see if they know. I will report back.

It would be quicker doing an experiment. I'm trading a US match, I've put back and lay keep bets at unmatchable prices so I'll let you know what happens.

[Derek27]

Goal scored, lay bet on unders keeps, back bet on unders cancelled. I'd guess they reverse it on the overs market, not sure about match odds.

[jamesedwards]

Betfair were not very helpful. They only steered me towards their Ts & Cs but the last line would suggest all 'keep' bets stay open throughout until matched, despite Derek's helpful experiment above which says otherwise.

10 'Keep' bets option
For markets that are scheduled to be turned in-play at the 'off', a customer can request that an unmatched Exchange bet should not be cancelled when the market is turned in-play. This is done by selecting the 'At In-Play: Keep' option in the bet manager (and confirming that request) and means that the unmatched bet persists when other unmatched bets are cancelled at the start of the event.
As described above, when a non-runner is removed from a horseracing market (apart for late withdrawals as described in the next bullet point below), it is Betfair's policy to cancel unmatched offers to lay all other horses in the market if the non-runner has a reduction factor of 2.5% or greater for win markets, or 4.0% or greater for place markets. In these circumstances offers to lay a horse with the 'At In-Play: Keep' option selected will not be cancelled. Instead the lay odds offered in place markets will be reduced in proportion with the reduction factors of any non-runner(s) and the same will apply in win markets providing the relevant non-runner has a reduction factor of at least 2.5%.
When there is a late withdrawal, Betfair may not have time to remove the non-runner from the market before turning it in-play. In such cases if Betfair is able to determine that the late withdrawal is a material runner (i.e. a selection with a reduction factor of approx 20% or greater in the win market), it reserves the right to cancel ALL lay 'keep' bets (in both the win and ‘to be placed’ markets) before turning the market in-play. If Betfair does not cancel lay 'keep' bets in the case of a late withdrawal (for example, it may not be possible to know which horse is withdrawn, at the time of the off), any such bets placed before the off and matched in-play will remain at the original selected price. This means that those lay 'keep' bets will not be subject to any reduction factor which as a result of the late withdrawal, will be applied after the completion of the race to bets matched at or before the 'off'.
Otherwise, in exceptional cases Betfair reserves the right to cancel 'keep' bets to protect customers but, unless stipulated in the market rules or the market information, the general principle is that at no point will a 'keep' bet be cancelled by Betfair unless it remains unmatched when the market is closed (for the final time) at the end of the event.
For the avoidance of doubt this means that (for example) when a Material Event occurs in a soccer match and other unmatched bets are cancelled before the market is reopened, a keep bet will not be cancelled.

[Derek27]

Betfair were not very helpful. They only steered me towards their Ts & Cs

That's more helpful than some. I usually have to steer them towards their T&C.

[jamesedwards]

Just did a big experiment across multiple markets on..... Dortmund v Man City

[Derek27]

Just did a big experiment across multiple markets on..... Dortmund v Man City

I was thinging of trading that match but luckily I opted for the Chelsea match.

[jamesedwards]

And I was trading elsewhere and accidentally ended up backing Dortmund for £1 at 100/1

[jamesedwards]

OK so my findings show that as per the BF Ts & Cs ALL keep bets on all football markets will stand throughout a goal etc until they are matched or the game ends. I've tested this on match odds and over/under goals.

Derek, can you check this again please as this goes against your findings before.

[Derek27]

OK so my findings show that as per the BF Ts & Cs ALL keep bets on all football markets will stand throughout a goal etc until they are matched or the game ends. I've tested this on match odds and over/under goals.

Derek, can you check this again please as this goes against your findings before.

I'll try again this afternoon or evening. I'll put in a combination of keep bets and bets placed after the kick-off in case I got them mixed up.

[jamesedwards]

OK so my findings show that as per the BF Ts & Cs ALL keep bets on all football markets will stand throughout a goal etc until they are matched or the game ends. I've tested this on match odds and over/under goals.

Derek, can you check this again please as this goes against your findings before.

I'll try again this afternoon or evening. I'll put in a combination of keep bets and bets placed after the kick-off in case I got them mixed up.

Cheers. Mine were all put on before kick off.

[Derek27]

OK so my findings show that as per the BF Ts & Cs ALL keep bets on all football markets will stand throughout a goal etc until they are matched or the game ends. I've tested this on match odds and over/under goals.

Derek, can you check this again please as this goes against your findings before.

I'll try again this afternoon or evening. I'll put in a combination of keep bets and bets placed after the kick-off in case I got them mixed up.

Cheers. Mine were all put on before kick off.

I think mine were as well, but I have automation that cancels back bets only, when there's a collapse in back orders. It's saved me a lot of money.

But next time I'll double check it's switched off and I've got one of each, a keep bet placed before and one placed after, on each polarity.

[Derek27]

It looks like you were right. ALL keep bets remain. The keep bets I thought were being cancelled can't have been keep bets.