Trading is about to Change

[Dallas]

If you used other software Trader you can see you position in the Queue and watch the volume increase as it is matched and the market move towards your position so. There is evidence that queue jumping is NOT going on.

They might offer the feature as a sales gimmick but in reality XM'ing renders it unreliable so often ends up just adding further confusion

[Euler]

You now also have XMXM so it's completely impossible to work out your actual queue position, totally impossible. You can't really tell anything from any software that offers queue position, it's totally unreliable.

[Kafkaesque]

I think that xmatching is hovering a lot of value from the markets as it has a priority over other bets. Sometimes you cancel a bet only to see that it has been matched. Or you want to catch a good offer only to see that it has been canceled. But the market being the market creates opportunities anyway. We are competing against bf too now. xmatching is a form of 'high frequency trading' done by betfair. It somehow improves liquidity but at the same time distort the market and I think it is not a zero-sum game for them.

Just to be clear (before a potential follow-up question), when you say "xmatching", are you talking about cross-matching or something other than that?

[welshboy06]

Yes cross-matching is referred to as xmatching

[Kafkaesque]

In that cast, how is that "hovering up a lot value"? My understanding is that, what it does is, that if I put in an offer trying to lay at 2.00 on selection 1 in a market of two selections, it'll place it as both an offer to back at 2.00 on selection 1 and to lay at 2.00 on selection. And then obviously in more complicated ways with more selections and when it works across markets. But I fail to see when and how it hovers value. What am I missing here?

[gutuami]

these are the corresponding xmatching figures on a 2runners market: 1.71=2.41,1.72=2.39,1.73=2.37. Do you think bf will round up the odds in your favor? If you place a big bet your average odds would be less than normal. Now about hovering. When a big bet enter the market it creates a over broke book or so to say a free money situation. Who is gonna fill their boots first?. Most of the time you wouldn't even notice it. with xmatching book is always 'perfect'. bf is taking care of that.

[spreadbetting]

Has a release date even been set for this 'big change' yet? Or are the developers waiting for someone to suggest a decent idea for them to code in

[Korattt]

Has a release date even been set for this 'big change' yet? Or are the developers waiting for someone to suggest a decent idea for them to code in

would imagine it'll be released before the Matchbook Traders Conference this week, if not it would be a missed opportunity I would've thought

[Kafkaesque]

these are the corresponding xmatching figures on a 2runners market: 1.71=2.41,1.72=2.39,1.73=2.37. Do you think bf will round up the odds in your favor? If you place a big bet your average odds would be less than normal. Now about hovering. When a big bet enter the market it creates a over broke book or so to say a free money situation. Who is gonna fill their boots first?. Most of the time you wouldn't even notice it. with xmatching book is always 'perfect'. bf is taking care of that.

Okay, cheers for that. About what I expected.

On the first part, what you're saying is, what I'm suspecting in the following topic is correct. Yes?

viewtopic.php?f=2&t=15097

On the second, I get what you're saying, and I'll agree that it's skeechy morally - at best - if it's Betfair cleaning up that value. Morals aside that value was never going to fall in the laps of any old trader, though imho. If Betfair isn't doing it, it would just be an arms race to see who has best/fastest bot and/or internet connection, measured in microseconds, to hover that free money as fast as possible, I would think.

[spreadbetting]

On the second, I get what you're saying, and I'll agree that it's skeechy morally - at best - if it's Betfair cleaning up that value. Morals aside that value was never going to fall in the laps of any old trader, though imho. If Betfair isn't doing it, it would just be an arms race to see who has best/fastest bot and/or internet connection, measured in microseconds, to hover that free money as fast as possible, I would think.

The simple fact was not everyone could get a slice of that pie and would therefore leave bets up or adjust them to balance any unmatched portions of their books. They actually put liquidity into the market, Betfair's version never adds liquidity it just takes from existing bets and also does it at source once bets enter their servers, taking (non runners aside) a guarenteed profit.

Markets will always find their own equilibrium as people step in to fill in the gaps making things more efficient. Prior to x-matching things were working fine and there were plenty of market makers adding prices and liquidity to the market. Betfair took away the need for the majority of them with x-matching and the liquidity has suffered ever since. What's the point of trying to make a book if Betfair are going to swoop and take any small % as soon as it appears from you.

[BlackHat Betting]

Quite excited for this update We need all the help we can get

[ricardodeano]

If this new release isn't tied in with Halloween, has Peter dressed as a pumpkin, exclaiming "Trick or treat? Actually there's no trick, here's your treat...", then I am really going to be disappointed.

[Euler]

Probably worth moving the XM discussion to the XM thread as it's a really interesting topic.

With regard to the new release, there was another clue in this weekends video. See if you can pull it all together before we release.

[megarain]

Which Halloween ?

[Korattt]

Probably worth moving the XM discussion to the XM thread as it's a really interesting topic.

With regard to the new release, there was another clue in this weekends video. See if you can pull it all together before we release.

dual trades?