Using fixed liability and getting best price available

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MattP
Posts: 31
Joined: Mon Feb 08, 2021 9:34 pm

Can I use a fixed liabilty lay bet at my max price and betfair will automatically adjust it for the best price available?

For example if my rule says lay £20 liability @ 5.0.

If current price is 3.0 then will it lay £10?

If current price is over 5.0 then just leave £5 @ 5.0 and see if it matches or will be cancelled when the market suspends (race start).

Is that the best approach to this rule or is there a benefit to reading current price and requesting that?

When you lay to liabilty is it Bet Angel doing the calculation on staking or is it sent to Betfair as fixed liabilty?

The question is based on straight lay at a maximum price and defining rules, I know there will be benefits in trying to get an optimised entry price based on price range/movement.

Thanks.
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Dallas
Posts: 22671
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

The stake required for the liability will be calculated at the price its placed at, there's no way of knowing what it may be matched at once it reaches Betfair

If you want to lay to a max liability you'd need to use a Stored value rule to store your max liability (as an entered amount)
Then add another stored value rule that continually triggers and stores your P/L (from a selection you are not trading) with an adjustment of minus another stored value (and enter the name of the first stored value)

Then on your lay bet rule/s use the staking method 'by liability using stored value stake' and enter the name of the last stored value above

So essentially
Stored value A
minus
Stored value B
equals Stored Value C

Stored Value C is your stake
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