Exiting A Position, In Play

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Etypejag
Posts: 3
Joined: Sat Sep 26, 2020 8:17 am

In horse racing, could anybody please give some assistance with the best way (ie the least potential loss) of exiting a position whilst the race is 'In play'.

This would be the scenario:- I have several small Lay bets (around £2.00 each) on a horse. We have one fence left to jump. However the odds have shortened and the horse is looking like it could win!

I am waiting for it to take the last jump, in the hope it stumbles. If it clears the jump what is best? Trying to move all back bets down to lower odds in the hope they are filled. Or can I take SP on all? Or should I do something else (apart from not get in this position in the first place!).

Thanks in advance.

Marek
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rik
Posts: 1100
Joined: Sat Jan 25, 2014 5:16 am
Location: London

if your waiting until after the last fence to back a leading horse you might not even be able to back the lowest price anymore
try to even out your position pre race, if thats your main strategy
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Derek27
Posts: 9306
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Etypejag wrote:
Sat Oct 17, 2020 10:06 am
In horse racing, could anybody please give some assistance with the best way (ie the least potential loss) of exiting a position whilst the race is 'In play'.

This would be the scenario:- I have several small Lay bets (around £2.00 each) on a horse. We have one fence left to jump. However the odds have shortened and the horse is looking like it could win!

I am waiting for it to take the last jump, in the hope it stumbles. If it clears the jump what is best? Trying to move all back bets down to lower odds in the hope they are filled. Or can I take SP on all? Or should I do something else (apart from not get in this position in the first place!).

Thanks in advance.

Marek
Hi Jaguar XJS ;) , welcome to the forum.

I don't mean to sound funny but if you lay a horse in running and hope to close trade after it's jumped the last or in the last few seconds when the race is as good as over, it's not really trading but straight betting.

My advice is to never open a trade without having some sort of exit strategy or idea of how or when to close it. I say that having not done it myself when I started out but it's a good habit to get into to avoid getting into a pickle.

When you close trade depends on your reasons for opening the trade. For example, if you lay a horse because you think it's gone too hard and will come back to the field, the moment you realise that's not materialising might be a time to close. If you're laying at a very low price with small liabilities or you're only going to lose a few ticks then there's nothing wrong with letting it run as your losses are limited.
Etypejag
Posts: 3
Joined: Sat Sep 26, 2020 8:17 am

Thanks guys for taking the time to reply.

However I feel you have missed the point of the question (sorry).

I am trying to learn how to use Bet Angel.
I realize that ending up 'In Play' with Lay bets on and one fence to go, is not a very sensible place to be!

However, my question was/is....what is the most cost effective way to get out using the Bet Angel software?
Or at that stage, is it too late?

Thanks again.
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Derek27
Posts: 9306
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Etypejag wrote:
Sat Oct 17, 2020 5:29 pm
Thanks guys for taking the time to reply.

However I feel you have missed the point of the question (sorry).

I am trying to learn how to use Bet Angel.
I realize that ending up 'In Play' with Lay bets on and one fence to go, is not a very sensible place to be!

However, my question was/is....what is the most cost effective way to get out using the Bet Angel software?
Or at that stage, is it too late?

Thanks again.
It doesn't make any difference what software you use or how you do it. Getting out of a lay bet involves backing the horse at whatever price is available. If it's jumped the last clear and there are no challengers it may be trading at 1.01. Getting out at this price by clicking the green-up button on the BA interface or ladder will place a back bet of 99% of your payout, saving just 1%. So it's really too late.
Etypejag
Posts: 3
Joined: Sat Sep 26, 2020 8:17 am

Understood!

Thanks again.
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