Backing at 1.01 when backing "selection at 5% above best reverse price"

[showtrader]

I have some rules set up to place back bets on every selection into a market at "5% above the best reverse price".

To my cost, I've think I've realised that if the lay side is blank, then the "best reverse price" is zero, and therefore it's putting the back bet in at 1.01, this being the closest price to 5% above zero.

Does this sound right, and what condition can I put on my rule to stop this happening?

Thanks

[gazuty]

Changed my mind on the condition.

Consider a condition that the back book is under 104%. So that your 5% bump brings you under 100% and you are hence dutching a book under 100%.

[Dabbla]

You can use a (stored value condition) =back/lay price is greater than 0

[showtrader]

thanks Dabbla

I've done "selection's lay price" > 1.01

I presume if the selection doesn't have a lay price, i.e. there's nothing at all on the lay side, then this condition wouldn't be met so i'd be OK?

thanks

[gazuty]

thanks Dabbla

I've done "selection's lay price" > 1.01

I presume if the selection doesn't have a lay price, i.e. there's nothing at all on the lay side, then this condition wouldn't be met so i'd be OK?

thanks

Backing more than 1 selection under 2 in a one winner market is a trip to the poor house. So >1.01 won’t help if you back everything at 1.02. I might be misunderstanding your strategy but don’t use > 1.01.

[Dabbla]

thanks Dabbla

I've done "selection's lay price" > 1.01

I presume if the selection doesn't have a lay price, i.e. there's nothing at all on the lay side, then this condition wouldn't be met so i'd be OK?

thanks

Backing more than 1 selection under 2 in a one winner market is a trip to the poor house. So >1.01 won’t help if you back everything at 1.02. I might be misunderstanding your strategy but don’t use > 1.01.

OP is backing above the reverse price, so above the lay price.
If there is no lay prices available BA defaults the lay price to 0.
So the condition >1.01 is just checking there are prices available.

[gazuty]

OP is backing above the reverse price, so above the lay price.
If there is no lay prices available BA defaults the lay price to 0.
So the condition >1.01 is just checking there are prices available.

Fair enough.

I guess I don’t understand the OPs strategy and just worried they are going to back everything at a combined 100+% and lock in a loss.