Taking SP

[marko236]

Hi all,

Was just reading Peter's blog and Dallas has done a post on what to do if you have a failure to green a trade due to internet failure etc.

I'v been cought out a few times and i'd like to use take sp but i'm unsure how it works, say i'v got a lay bet and i take Sp will it put a back bet in just like greening a trade? And will it do vice versa if i'v got a back bet and lay it at Sp?

Thanks for any help.

[SeaHorseRacing]

Hi all,

Was just reading Peter's blog and Dallas has done a post on what to do if you have a failure to green a trade due to internet failure etc.

I'v been cought out a few times and i'd like to use take sp but i'm unsure how it works, say i'v got a lay bet and i take Sp will it put a back bet in just like greening a trade? And will it do vice versa if i'v got a back bet and lay it at Sp?

Thanks for any help.

If you take SP it will only be for unmatched bets.

let's say you had a £50 back bet matched and you had an open position. You will need to have a closing position or any unmatched bet in the market in order to take sp.

so for example I always scatter closing positions before I place my open position. When I have an open position I cancel one side of my unmatched positions that I don't want matched and I try to keep my open positions to the same stake my matched position is.
If then click take sp this is a safe guard incase it goes in play which will allow you to green by clicking hedge.

The only way to get greening is to have you closing position calculated correctly but then again you can't guarantee what price you will get..

I haven't experienced a betfair crash with an open position yet but I assume that if you have your closing unmatched bets in the market and click take sp. If betfair crashes you will either win or lose a tiny amount as sp bets will still be settled with out it fully hedged.

[iambic_pentameter]

Hi Marko

"Was just reading Peter's blog and Dallas has done a post on what to do if you have a failure to green a trade due to internet failure etc."

Could you provide the links for the two posts you mention, please?

Many thanks

[marko236]

Hi Marko

"Was just reading Peter's blog and Dallas has done a post on what to do if you have a failure to green a trade due to internet failure etc."

Could you provide the links for the two posts you mention, please?

Many thanks

It's at the bottom of the desktop page it's called back up plan

[marko236]

Thanks for your help Seahorse,

I think i get it i'm fully automated so say i put in my opening trade a lay and i offset it 20 ticks and then use keep all unmatched bets and then if i have an internet failure it won't green and the sp price will be taken because i still have the unmatched bet?

[SeaHorseRacing]

Thanks for your help Seahorse,

I think i get it i'm fully automated so say i put in my opening trade a lay and i offset it 20 ticks and then use keep all unmatched bets and then if i have an internet failure it won't green and the sp price will be taken because i still have the unmatched bet?

Take sp will simply match any unmathced bet in the market. If you have no internet failure you can hedge it. If you have some form of failure it will just stop you losing all your money. So if your lay bet was 3.45 fully matched, you put a back bet at 3.85 and take sp. if your interent fails it will take sp on your match bet. The sp is usually very close to the last price the market was suspended at. The further away your unmatched bet is the bigger the small los will be. If your in a big green in your trade and your unmatched bet is at sp your probably make a small profit.

If you select keep all this will keep your bet inplay at the price. So f you open a bet at say 2.02 and its matched and you have an unamtched bet at 2.32 and you select keep all this will keep that bet at 2.32 during inplay. If you take sp it will matched soon as it is suspended.

Keep in play is great for a back to lay.

[marko236]

Understand now, thanks again