Placing bets in-play

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Xeres
Posts: 50
Joined: Mon Jun 03, 2019 2:56 pm

I've been trying to place a bet in-play using a servent where the back bet is placed 15 ticks below the SP. When the race went off the SP was 2.32 and the servant placed a bet @ 2.3 which isn't 15 ticks below.

My rule was

Place a Back Bet
Relative to the in-play time
15 ticks below the Actual SP

Am I doing something wrong or are these bets just not possible?
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Dallas
Posts: 15716
Joined: Sun Aug 09, 2015 10:57 pm
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Did you check your log?

Most likely you placed the bet 15 ticks below SP but if a better price was available Betfair will have matched you at that, you'll need to configure your rule similar to this example
viewtopic.php?f=52&t=17936

ie, you'd store the value of the SP minus 15 ticks, the fixed odds condition on the back bet rule will then prevent the rule triggering until its LTP is less than that Stored Value
Xeres
Posts: 50
Joined: Mon Jun 03, 2019 2:56 pm

Thanks for the quick reply.
Yeah I checked the log, you are right it did match me at a better price but the number of ticks below the SP is the most important part, I only want the bet matching at that price and not any higher.

I looked at that rules file, so it checks the last traded price to decide when to play the bet to get around the issue of Betfair matching at the best price avaialable.

So in my case if I wanted to place a bet at 2.0, I place the bet when the LTP is <= to 2?
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Dallas
Posts: 15716
Joined: Sun Aug 09, 2015 10:57 pm
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Xeres wrote:
Sun Nov 29, 2020 3:57 pm
Thanks for the quick reply.
Yeah I checked the log, you are right it did match me at a better price but the number of ticks below the SP is the most important part, I only want the bet matching at that price and not any higher.

I looked at that rules file, so it checks the last traded price to decide when to play the bet to get around the issue of Betfair matching at the best price avaialable.

So in my case if I wanted to place a bet at 2.0, I place the bet when the LTP is <= to 2?
Yes that is correct, BA will only submit the bet once it trades at or below your price

You can't do anything about being matched at a better price, if the price drifts back out during the 1 second in-play bet delay after you place the bet you'll still get matched at the best price but that would just mean you win more so its benefiting you.

ie, if you want to back a horse when it trades at or below 2.0 but are then lucky enough to get matched at 10.0 you'll have five times the profit
Xeres
Posts: 50
Joined: Mon Jun 03, 2019 2:56 pm

Ah ok I forgot about the bet delay.

I have been optimising a strategy which relies on getting matched at or below the offet price - which varies. As long as the price at some point dips below my offset price and then I get matched at a better price thats fine. What I found is happening now is I place the bet, the actual price never goes below my target price but I still get matched at higher price, in all these instances I have lost money.

I don't usually mess around with in-play but in testing at least it seemed to work really well. Time will tell how well is actually works when I unleash it tomorrow.

Thanks for your help, really appreciate it.
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