Hi - I'm hoping that someone might be able to help with a query that I have on staking. I have a bot which lays bets on guardian nominated horse selections at odds of 32 soon after the market goes in-play. For these bets I'm happy to accept a liability of approx £32 (so the bet basically complies with the minimum £1 trade) and I'm expecting a £1 stake at those odds. This works well for selections which are trading above 32, as I get the matched bet if the price falls to 32 at a liability of £32. However, for selections where the odds are trading at less than 32 when the bet is issued it is not working as I would like it to. Where the selection is trading at odds of say 20 when the lay bet is issued, I get the lower odds of 20 (which is what I want), but the stake size remains at £1. What I'd really like is for the stake size to be adjusted higher (ie over £1 to get a total liability of £32 at odds of 20).
In the parameters tab I have set the bet to be issued at a fixed price of 32 and at a liability (back and lay) of £32.
I thought that by staking to liability, the stake size automatically adjusts depending on the price, but something I'm doing must be preventing that. It's almost as if Bet Angel is reading from the parameters that I just want a £1 stake and is giving that to me no matter what, whereas I'm expecting a higher stake if the price falls. If any one has any ideas about how to correct this I'd be very grateful. Thanks.
Help please - lay bet staking
It adjusts to the price its placed at when its sent to Betfair - but as they always match at the best possible price its impossible to know what it will be matched at once it arrives on the exchange until its matched
The way I would do it is to create two rules:
1 - rather than laying all at a fixed price of 32, select Best Market Price and use a condition that the lay price must be < 32 for that rule to apply. Set the 'applies to' on the general tab to 'every selection' and rule type to 'place lay bet'
2 - a second rule that places a lay bet at 32 for £1 if they lay price is 32 or greater.
In both cases you would need to also add conditions so that if the selection already has an unmatched or matched bet, the alternate rule doesn't also run, otherwise from horses that have a lay price below 32 when rule 1 is applied and then move above 32 could trigger rule 2 and you get two lays.
1 - rather than laying all at a fixed price of 32, select Best Market Price and use a condition that the lay price must be < 32 for that rule to apply. Set the 'applies to' on the general tab to 'every selection' and rule type to 'place lay bet'
2 - a second rule that places a lay bet at 32 for £1 if they lay price is 32 or greater.
In both cases you would need to also add conditions so that if the selection already has an unmatched or matched bet, the alternate rule doesn't also run, otherwise from horses that have a lay price below 32 when rule 1 is applied and then move above 32 could trigger rule 2 and you get two lays.