Clarification for newbie please

[SammyWhipple]

As the title says, newbie here from matched betting. I'm trying to do my own research but some things aren't clicking.
Can someone help me understand if I have understood the following explanation regarding basic scalping? Its taken from letscomparebets.com

https://latest.letscomparebets.com/betf ... explained/

This scalping technique is all about choosing where to enter the market. Look at the ladder view and find a price where there is not very much money in the market.

For example, after looking up the column of odds you notice that there has only been £48 backing at 3.15. When money is entered into a bet on Betfair it sits in a queue waiting to be matched. Making the Back bet where this isn’t much money waiting gets you to the front of the queue. If the trader places a £100 back bet the £48 would change to £148.

What I am not getting is this.

I assume that the £48.00 at 3.15 represents funds available and waiting to be matched to a back bet.
Why would anyone want this figure to be low? Surely if there was £480.00 available then the chance of the bet being matched is much greater.

If someone could clarify one way or the other (and ideally explain why), I would appreciate their help

TIA

Sammy

[Derek27]

As the title says, newbie here from matched betting. I'm trying to do my own research but some things aren't clicking.
Can someone help me understand if I have understood the following explanation regarding basic scalping? Its taken from letscomparebets.com

https://latest.letscomparebets.com/betf ... explained/

This scalping technique is all about choosing where to enter the market. Look at the ladder view and find a price where there is not very much money in the market.

For example, after looking up the column of odds you notice that there has only been £48 backing at 3.15. When money is entered into a bet on Betfair it sits in a queue waiting to be matched. Making the Back bet where this isn’t much money waiting gets you to the front of the queue. If the trader places a £100 back bet the £48 would change to £148.

What I am not getting is this.

I assume that the £48.00 at 3.15 represents funds available and waiting to be matched to a back bet.
Why would anyone want this figure to be low? Surely if there was £480.00 available then the chance of the bet being matched is much greater.

If someone could clarify one way or the other (and ideally explain why), I would appreciate their help

TIA

Sammy

Hi Sammy, welcome to the forum.

It's rather like joining the back of a queue - you want the queue to be short so you get served quicker. If there was £480 waiting to be matched, the amount (not chance) of getting matched is greater, problem is, it's someone elses money, not yours. You'd have to queue up behind it or jump in front and take a worse price.

[SammyWhipple]

Thanks for the response Derek, it's appreciated.

So, as I understand it, the £480.00 available "belongs" to backers who placed their bets before me and have yet to be matched. Is that the case? I appear to have made the mistake of looking at it as being £480.00 that was waiting ready to be matched with back bettors. Your analogy with a queue is a good one.

Thanks for your help, hopefully in a few months I will be giving something back.

Regards

SW

[Derek27]

Thanks for the response Derek, it's appreciated.

So, as I understand it, the £480.00 available "belongs" to backers who placed their bets before me and have yet to be matched. Is that the case? I appear to have made the mistake of looking at it as being £480.00 that was waiting ready to be matched with back bettors. Your analogy with a queue is a good one.

Thanks for your help, hopefully in a few months I will be giving something back.

Regards

SW

Yes, back bets are bets waiting to be laid and lay bets are bets waiting to be backed, as the other person is taking the other side. So in the example he gave someone or some people had a total of just £48 of back bets that you can queue behind.

[ShaunWhite]

the £480.00 available "belongs" to backers who placed their bets before me and have yet to be matched. Is that the case? I appear to have made the mistake of looking at it as being £480.00 that was waiting ready to be matched with back bettors.

Strictly speaking they're orders (aka offers), they don't become bets until they're matched. The £480 is £480's worth of orders waiting to be matched that have been placed by people wanting a better price than is currently available to take.