Building confidence

[cybernet69]

Hi,

I watched this BA video on building confidence. All looks very simple as the title suggests.

https://www.youtube.com/watch?v=VDyYgL91Rr4&t=360s

However, what happens if there is a withdrawn runner and not necessarily the one you are trading. Don't the book odds get re-adjusted down meaning you are up a river without a paddle, as you wouldn't be able to get out quick enough before the odds dropped from 9 to 7 etc ?

I only ask as I am sure this could lead to allot of newbies getting stung either manually or via there bots.

Cheers.

[jimibt]

mark -i think you are referring to rule 4

https://en-betfair.custhelp.com/app/ans ... treated%3F
http://www.betting-explained.com/rule-4-explained/

it applies evenly across both your back bets and lay bets, so more or less evens out.

[Trading96]

There's a reduction factor applied. So if a runner at evens is withdrawn then all the bets on the other runners get reduced as a % by ~1/(odds)*100 ie 50%. It's not perfect but helps reduce risk.

[cybernet69]

So, if you lay £100 at 9 and are waiting to close the trade with a back bet, horse gets withdrawn before you place your back bet, the 9 gets reduced to what ?

Again, therefore, aren't you screwed somewhat in the above scenario ?

Cheers,

[Trading96]

The lay bet gets changed to 4.5 or there abouts. But what you'll find is that you should be able to back the horse at around 4.5.

[cybernet69]

Many thanks for the replies.

I am guessing this would make an automated system pretty vulnerable in such scenarios as there is no way of knowing if there has been a withdrawn runner unless you are using Excel or such to keep track of the number of runners while backing, laying, trading, closing trades etc.