Arbitrage Betting

News, chat and debate about the Betfair betting exchange.
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fedeco2000
Posts: 1
Joined: Mon Jan 09, 2023 10:46 am

I want to join the Betting Exchange for Arbitrage Betting. I wish to lay on the exchange and back on my local bookmaker. But there is something I need to be sure of before I start though. If I lay on the exchange and my bet gets matched ( by one person or more people), is it possible that the other person just cancels the bet or just cashes out mid-game? Coz if a person does that, then I'm exposed on the bookmaker.
Also, if after my lay bet gets matched and odds rise in-game all through to the end, will it add to my liability?
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Dallas
Posts: 22673
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

Once a bet is matched it can't be cancelled by either side, if they or you chooses to cash out at a later time that doesn't effect the earlier bet

Except for the eventual winning runner, team, player etc all the other odds will eventually rise to 1000.0 or very close, but your liability won't change from that of the odds you were matched at
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

fedeco2000 wrote:
Mon Jan 09, 2023 10:56 am
I want to join the Betting Exchange for Arbitrage Betting. I wish to lay on the exchange and back on my local bookmaker. But there is something I need to be sure of before I start though. If I lay on the exchange and my bet gets matched ( by one person or more people), is it possible that the other person just cancels the bet or just cashes out mid-game? Coz if a person does that, then I'm exposed on the bookmaker.
Also, if after my lay bet gets matched and odds rise in-game all through to the end, will it add to my liability?
There are two issues with arbing using the exchange. The value often lies with the bookie and bookies will quickly close your account if it's profitable or if their algorithms suspect that you're arbing. Second, if your lay bets lose and you need to refund your Betfair account Betfair are getting heavy-handed with people who make deposits and may limit you or close your account. Be warned.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Derek27 wrote:
Mon Jan 09, 2023 1:45 pm
Betfair are getting heavy-handed with people who make deposits and may limit you or close your account. Be warned.
It's mid-session top ups or non typical activity which cause the alarms to sound. Basically anything that points to unplanned or chaotic activity. To paraphrase another thread, people with a clearly organised approach or those who engage in dialog with them preemptively have very few problems.
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