Book% conditions?

[jamesg46]

goat is getting confused I think between the difference of a selections Back Book % and the markets Back Book %.

The automation you mentioned is scalping a tight market book % but obviously each selection holds a % that makes up the total of the market %. What was said about using Selections Back Book % as a probability is true.

[goat68]

goat is getting confused I think between the difference of a selections Back Book % and the markets Back Book %.

The automation you mentioned is scalping a tight market book % but obviously each selection holds a % that makes up the total of the market %. What was said about using Selections Back Book % as a probability is true.

Thank you James, yes! i've confused Market vs Selection Book% ! makes sense now.
I in fact just looked at my Automation "log" and can see selection back book% is 100/odds
all good now, that bot confused me as you rightly pointed out, was market book% doh!

[jamesg46]

goat is getting confused I think between the difference of a selections Back Book % and the markets Back Book %.

The automation you mentioned is scalping a tight market book % but obviously each selection holds a % that makes up the total of the market %. What was said about using Selections Back Book % as a probability is true.

Thank you James, yes! i've confused Market vs Selection Book% ! makes sense now.
I in fact just looked at my Automation "log" and can see selection back book% is 100/odds
all good now, that bot confused me as you rightly pointed out, was market book% doh!

Probably a good thing that you have just been confused by it because now at least you know you can use both in your automation, especially if you're scalping. Remember the market always hunts 100%. Check out how a book would respond to the markets back book % being 102.6% in the dutching tool. It may help you to set the rule of which direction to scalp in.

[goat68]

I think what is mentioned above is wrong, as i've just come across this under the Automation Shared Files:
"Scalp Tight Book% or Scratch in Loss Guardian Automation Bot"
viewtopic.php?f=53&t=13176
quote: "The bot will target the favourite and place a £10 lay bet when the lay book% is over 99.2%.."
So are you telling me this bot places a lay pre-off when the fav odds are 1.008 ?!
Also, in the one of the replies, it quotes: "The back should be above 100%, so to mirror your lay it would be less than 100.8 %."
So obviously Book% is not the same as "implied probability"...

So what is it please?

I'm trying to think along the lines of bookie book overround, so a back total book% can be say 105%, ie.the sum of the implied probabilities, but even with this it would imply the bot laying a horse at odds around 1.06...
and also looking at some other replies, indicate the bot triggering a horse at odds 2.27 ! that would be a back book% of around 44% to me?
I'm missing something here?

People seem to be talking at cross purposes over this, the terminology page of the user guide should clear it all up (relevant parts are near the bottom of the list)
https://www.betangel.com/user-guide/terminology.html

Thank you Dallas, I had not found that terminology page, that's really useful.
Cheers