Can I Place a Betfair SP Bet?

[benjay]

I think they start allocating to bets where the requested odd of the unmatched bet is closest to the calculated BSP. Not all "take BSP" bets are matched. So taking BSP on a 1000.00 odd unmatched bet on the favourite at 2.00 will probably not be matched

Have you got any examples? I don't think I've ever has an SP bet that didn't get matched assuming it met the liability requirements.

If you wanted a liability of £100 maybe you could place a bet of £10,000 @ 1.01 and see how that goes, I've never tried it.

Yep that's how you do it. Although the first few times you're staking over 100k it makes your ring twitch a bit. It just feels wrong even though your liability is actually ok.

So yeah, back at 1000 or lay at 1.01 for a given liability and you should be fine. BSP is within 1% of the last mid price the vast majority of the time so you could set up some automation to place or cancel your bet as the expected SP comes in and out of your range.

Thanks Shaun. Can this be applied if I lay for a fixed amount e.g. if i automate a lay bet of row 1 at BSP and say TakeSP irrespective of price? Or does it have to be set up based on liability? Apologies for my ignorance and I know I just need to download and have a practice

[ShaunWhite]

Thanks Shaun. Can this be applied if I lay for a fixed amount e.g. if i automate a lay bet of row 1 at BSP and say TakeSP irrespective of price? Or does it have to be set up based on liability? Apologies for my ignorance and I know I just need to download and have a practice

You can stake whatever you like, BA will let you choose a fixed stake or a stake based on a fixed liability.

But when the SP bet gets matched, Betfair will adjust your stake to preserve the liability you were expecting at the price you originally placed your bet at.
So if you layed £1000 at 1.01 expecting a liability of £10, and the market settled at Evens, Betfair would change your stake to £10 rather than expose you to a £1000 liability by keeping the stake at £1000.

Rather than having a practice, spend the time familiarising yourself with the Exchange rules and the BA User Guide. It's cheaper.

Eg https://promo.betfair.com/betfairsp/FAQs_theBasics.html

[ShaunWhite]

Not all "take BSP" bets are matched.

I doubted this above but I checked and according to the rules you're spot on. I just don't recall ever experiencing it, but then again I rarely check what bets I've had matched.

[benjay]

Thanks Shaun. Can this be applied if I lay for a fixed amount e.g. if i automate a lay bet of row 1 at BSP and say TakeSP irrespective of price? Or does it have to be set up based on liability? Apologies for my ignorance and I know I just need to download and have a practice

You can stake whatever you like, BA will let you choose a fixed stake or a stake based on a fixed liability.

But when the SP bet gets matched, Betfair will adjust your stake to preserve the liability you were expecting at the price you originally placed your bet at.
So if you layed £1000 at 1.01 expecting a liability of £10, and the market settled at Evens, Betfair would change your stake to £10 rather than expose you to a £1000 liability by keeping the stake at £1000.

Rather than having a practice, spend the time familiarising yourself with the Exchange rules and the BA User Guide. It's cheaper.

Eg https://promo.betfair.com/betfairsp/FAQs_theBasics.html

Thanks Shaun, appreciate the help.

[firlandsfarm]

I think they start allocating to bets where the requested odd of the unmatched bet is closest to the calculated BSP. Not all "take BSP" bets are matched. So taking BSP on a 1000.00 odd unmatched bet on the favourite at 2.00 will probably not be matched

Have you got any examples? I don't think I've ever has an SP bet that didn't get matched assuming it met the liability requirements.

'fraid not Shaun (and welcome back just remember one thing ... don't let the bastards grind you down ) . I only have unscientific gut feel. I've had "take BSP" situations not taken sometimes and just shrugged my shoulders and carried on to the next race. It has been very infrequent and not worth the effort of deep investigation compared to the amount involved. Some of the missed BSP bets would have won and some would have lost so the risk is only the marginal profit as a whole (I don't believe in the Sod's Law that says missed bets always win! ).

BSP is within 1% of the last mid price the vast majority of the time so you could set up some automation to place or cancel your bet as the expected SP comes in and out of your range.

My turn ... have you got any examples?! According to my data, of the 1027 races run in UK and Ireland this year 355 had a BSP book below 100%, I wouldn't have expected the market odds to so equate ... do you have any knowledge of the accuracy of the projected BSP, it's something I keep meaning to monitor but haven't got around to it because before now I've not seen a real use for it.

PS: above was posted before I read your last post Shaun. Any more "couldn't be bothereders" out there?

[ShaunWhite]

'fraid not Shaun (and welcome back just remember one thing ... don't let the bastards grind you down ) .

Hi I think the motto is "Illegitimi non carborundum."

My turn ... have you got any examples?! According to my data, of the 1027 races run in UK and Ireland this year 355 had a BSP book below 100%, I wouldn't have expected the market odds to so equate ... do you have any knowledge of the accuracy of the projected BSP, it's something I keep meaning to monitor but haven't got around to it because before now I've not seen a real use for it.

Well over a relatively small sample, about 500 randomly selected races (UK horses win mkt), I recorded the difference between the last mid price (implied%) and the BSP (implied%).

As you can see most BSPs are about +/- ¼% from the last mid and I didn't actually have any that are over 1% away. It really suprised me.

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