Hi - As above, Im doubting it as I cannot find anything, but best to ask if this is possible?
Im looking at a very simple strategy, which also involves a cover bet to provide me with insurance.
Ie, Back the selection for £10 profit regardless of odds.
My main strategy is in place, including all parameters, and clearly the cover bet would fire once this first bet was entered.
Is there a way of doing this?
Insurance / Cover Bet based on potential profit?
I know you won't wish to provide full details on the strategy, but it would be useful to know a rough flow of the process in generic terms (i.e. do you have a point at which you go for the insurance, or is this dependent on something happening within x seconds etc etc).
Happy to help.. just pop down the info, or if very involved, then pm me and i'll take a deeper look.
jim
Happy to help.. just pop down the info, or if very involved, then pm me and i'll take a deeper look.
jim
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novicestakes
- Posts: 26
- Joined: Tue Feb 02, 2016 7:50 am
Its actually quite simple, but the premise of the qualifying terms I'll obviously hold on to 
Essentially, a straighforward Back Bet is fired on Selection 1 at ie. fixed stake £10, lets say at odds of 1.50 for arguements sake.
As we all know there is change of this Back Bet losing, so a covering/insurance bet can be placed to simply cover the £10 wagered.
Ie. Back Selection 2 (for £10 profit) at odds of i.e 3.7. the bet stake would actually be £3.70 (To win £10)
The odds will be random, the strategy relies on best market prices which will differ per event.
This example..
Selection 1 Wins = £1.30 Profit (£5 - £3.70)
Selection 2 Wins = £Scratch (£10 - £10) Excluding any fees of course, but lets keep it simple.
Whilst this strategy certainly on the gambling side, it would be good to automate as I can fire many through automatically, instead of manually working out the bet amount for selection 2 each time.
What I need is a system to fire the right fixed bet price into selection 2
Essentially, a straighforward Back Bet is fired on Selection 1 at ie. fixed stake £10, lets say at odds of 1.50 for arguements sake.
As we all know there is change of this Back Bet losing, so a covering/insurance bet can be placed to simply cover the £10 wagered.
Ie. Back Selection 2 (for £10 profit) at odds of i.e 3.7. the bet stake would actually be £3.70 (To win £10)
The odds will be random, the strategy relies on best market prices which will differ per event.
This example..
Selection 1 Wins = £1.30 Profit (£5 - £3.70)
Selection 2 Wins = £Scratch (£10 - £10) Excluding any fees of course, but lets keep it simple.
Whilst this strategy certainly on the gambling side, it would be good to automate as I can fire many through automatically, instead of manually working out the bet amount for selection 2 each time.
What I need is a system to fire the right fixed bet price into selection 2
Ok,
I think I have a broader understanding of what you're after. the insurance bet is simple (in terms of placing it to win a set amount). If your stake on selection 1 was £10, simply place your back bet on selection 2 with a liability of £10, rather than with a Fixed Amount (in the case of liability on a back bet, it basically means *how much i'd like to win*)...
should work as hoped for i reckon.
I think I have a broader understanding of what you're after. the insurance bet is simple (in terms of placing it to win a set amount). If your stake on selection 1 was £10, simply place your back bet on selection 2 with a liability of £10, rather than with a Fixed Amount (in the case of liability on a back bet, it basically means *how much i'd like to win*)...
should work as hoped for i reckon.
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novicestakes
- Posts: 26
- Joined: Tue Feb 02, 2016 7:50 am
Ah I see.. Liability can work for a back bet as well(?) - i stayed clear of that thinking it was for Lay bets only...
will give that a try - thanks for your help.
will give that a try - thanks for your help.
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novicestakes
- Posts: 26
- Joined: Tue Feb 02, 2016 7:50 am
Oh dear..
What about a spreadsheet? - Ive never even looked into this, so would be a whole new process.
I know the calculations, just needs the trigger to fire it and at the right amount.
Stake to Profit would be an excellent addition to any future BA releases!
What about a spreadsheet? - Ive never even looked into this, so would be a whole new process.
I know the calculations, just needs the trigger to fire it and at the right amount.
Stake to Profit would be an excellent addition to any future BA releases!