very very begginner q

[iguess]

Heya

I am in betting from a very short time - I just placed my first bet .

I have this very dumb question.
My understanding of bets is like this (please correct me if I am wrong):

an odd of 6 means that the backer is betting 1 and the layer 5.
an odd of 11 means that the backer is betting 1 to win 10 from the layer.
The expected behavior from the above will be that the backer will try to get a bigger odd while the layer will try to place a bet at a smaller odd.

But I see on betangel and betfair that the situation is exactly the opposite - the backers are trying to bet at smaller odds while the layers at bigger odds.

Can somebody explain what is going on?

Cheers!

[charto2010]

iguess,

I suggest you go to betfair web site, log on and select a horse racing market, on the top righthand side just below market refresh is the 'more options' menu,if you select: display 'what if' figure. then you can play about with back and lay scenario's and stakes etc. in safety, so long as you DO NOT PRESS CONFIRM BETS!

good trading

chris

[iguess]

I found that on the blue side are actually the lay bets...
who would have thought at that?

[wrexham casual]

I found that on the blue side are actually the lay bets...
who would have thought at that?

It seems to me that you have the book reversed in Betangel. If you go into 'Settings' at the top of the Betangel screen and then 'Force open' and choose 'None', Betangel will then appear just like Betfair does.

[iguess]

Any places where the green functionality is explained?
I didnt found on google

cheers

[andyfuller]

Have a read of the manual:

http://www.betangel.com/support/Bet_Angel_QRG.pdf

[lilgreenback]

Hi

It is a bloke thing as Mr T says in the Snickers advert "Man that's got pride never needed no guide" this is a bit more expensive than the TV remote or Ikea manual that you look at when somthing goes wrong.

As Andy says read through it so you at least have an idea of what the many functions do. An example of this was that I never realised (for about 2 months when I first used BA) if you have a partial unmatched bet you can click the "net stake" box (in the ladder screen) and then click the "partial match" it into back/lay ladder which ever side you need to get filled and match the bet.

As Meerkats it "simples" unless you are like the dumb-ass (me) trying to type in the remainder of the stake Doh. I'll steer clear of automation and excel promise.

Print it out and comb bind it you've got it for reference then. I did it before they added the risk meter section and just printed that bit again later.

Keep the stakes small don't expect too much to begin with and read some of posts that others have contributed.

Cheers LilGB

[andyfuller]

Oh and also work your way through the videos Bet Angel have done on You Tube -

http://www.youtube.com/user/betangeltv

It really is worth investing time learning the software in detail as has been said above it is easy to miss a feature that can make you money or save you time in turn saving you money.

[iguess]

here is what the manual says:

>> If you tick the ‘greening’ option on the trade
calculator the calculator will automatically hedge
your position on this selection in the market when it
places your closing position, regardless of how you
chose to close your position. This means you can
place a trade with only one click that will automatically place the correct stake and at the
correct odds to spread the profit you have made across the entire book. It will perform
this task whether you have made a profit or a loss and it does not need to place multiple
bets to achieve this.

And then is the example:

>> If the following example you can see we are scalping the market by reversing the book
and looking for a one tick offset. We have entered the market by laying £100 at 4.3; we
are trading at a £10 tick size. We enter the order into the market and it is matched, which
triggers a one tick offset order to back at 4.4. Despite laying for £100 you can see the
corresponding offset bet has actually entered the market with a stake value of £97.73. At
first this looks like an error but moments later the order is filled and the balance between
the two becomes your ‘green’ value.


What I can understand from the example:

We place the first bet - lay - with a stake of 100 at 4.3 this means a win of 100/3.3=30.3 if the horse dont win.
Then BA places the back bet with a stake of 97.73 at 4.4 this means a possible win of 97.73*3.4 = 332.282

and then it says that we have a win of 2.28...



How I would have done it:
From my calculations, because we have a difference in odd we can make some profit but we can do that in 2 ways - to optimize the profit "betting" that the horse will win - so what we do we bet all the possible profit from the lay bet (30.3) at the new odd (4.4-1) which will result in a profit of 103 so a net profit of 103 - 100
or
we can assume that the horse will lose and obtain a 0.8 profit on lay.

What I dont understand:

What operations are done so we endup with 2.28?
What is £97.73? is the stake on the back bet?

Basically: what means greening?

[iguess]

so... anybody?

[rocknrolla]

i'm new to this as well and have a question. This may come across dumb but if I don't ask I won't know. If I was to place, say, £50 on a horse and get matched at odds of, say 4, the "what if figure" shows that the profit would be £200 if I win. Can you then green this amount up to have a profit across the board.

[DaveA2004]

You need the price to shorten a bit before you can do that.

[rocknrolla]

Thanks Dave,

would the "green up" profit therefore be based on the back price or lay price coming down and is there a certain % or ticks that this figure would have to come down by to be able to "green up" to make a profit across the board.

[DaveA2004]

1 tick or more will be enough for you to green up for a profit across the race. The catch is if you back first and the price starts to drift, then you will have to trade out for a loss. It doesn't matter if you back or lay first, you're looking to back at a higher price than that at which you laid. That's the heart of trading.

[rocknrolla]

Dave,

many thanks for your help. One more question what do the % figures in the middle of the screen mean.