Offset and Lay Bets

[TallblokeUK]

Hi Guys,

Bit confused by this. Wanted to place a lay bet using automation with an offset bet that triggers when the odds shorted (i.e. the horse starts doing well) to protect my stake.

However, when I try setting up the offset the odds are actually longer and therefore the back bet would only trigger when the horse drifts.

Am I missing something or totally not understanding offsetting!

[Dallas]

The offset is for when a trade moves in your favour, you need to add a stop loss for when it goes against you

[TallblokeUK]

The offset is for when a trade moves in your favour, you need to add a stop loss for when it goes against you

Thanks Dallas, is there a thread or link on how to use this?

[Dallas]

The offset is for when a trade moves in your favour, you need to add a stop loss for when it goes against you

Thanks Dallas, is there a thread or link on how to use this?

User Guide
https://www.betangel.com/user-guide/sto ... rders.html
https://www.betangel.com/user-guide/off ... tages.html

Examples
viewtopic.php?f=47&t=12597
viewtopic.php?f=47&t=11746

[TallblokeUK]

Thanks Dallas, had a quick scan. I get the idea behind it with a back bet, but I'm trying to set something up for a lay bet. For the life of me I can't work out if there is an easy way to do it!

With the offset bet with stop loss it works by creating the back bet and then adding the stop loss to that from what I can see, I'm looking to just create a back bet a certain number of ticks straight away without the odds having to move in my favour first.

[Dallas]

It works the same with whether backing or laying first

[TallblokeUK]

Sorry to be a pain, could you post a quick screenshot so I can see how it should be setup?

[Dallas]

Ladder.JPG

[TallblokeUK]

So would this achieve the same thing with automation?

[TallblokeUK]

Tried this in practice mode :

26/03/2021 13:44:30: [G_Auto 1] : £ 0.11 Lay bet placed on Simple Star at 17.5. Fully matched at 17.5. Ref: 10001 ( Offsetting by 5 ticks with greening. Stop at 5 ticks. Place stop at 5 ticks )
26/03/2021 13:44:30: [G_Auto 1] : £ 0.10 Back bet placed on Simple Star at 20. Entirely unmatched when it initially reached the market. Ref: 10003
26/03/2021 13:46:55: Guardian has detected that the market is suspended
26/03/2021 13:46:55: Guardian has detected that the market is in-play
26/03/2021 13:46:55: Guardian has detected that the market is now unsuspended
26/03/2021 13:49:01: Guardian has detected that the market is suspended

The back bet never triggered as the horse went on to win with the odds never drifting.

Perfect example as the horse went on to win. Nothing was done to offset the loss on the original lay bet.

[Dallas]

Tried this in practice mode :

26/03/2021 13:44:30: [G_Auto 1] : £ 0.11 Lay bet placed on Simple Star at 17.5. Fully matched at 17.5. Ref: 10001 ( Offsetting by 5 ticks with greening. Stop at 5 ticks. Place stop at 5 ticks )
26/03/2021 13:44:30: [G_Auto 1] : £ 0.10 Back bet placed on Simple Star at 20. Entirely unmatched when it initially reached the market. Ref: 10003
26/03/2021 13:46:55: Guardian has detected that the market is suspended
26/03/2021 13:46:55: Guardian has detected that the market is in-play
26/03/2021 13:46:55: Guardian has detected that the market is now unsuspended
26/03/2021 13:49:01: Guardian has detected that the market is suspended

The back bet never triggered as the horse went on to win with the odds never drifting.

Perfect example as the horse went on to win. Nothing was done to offset the loss on the original lay bet.

Unmatched bets get cancelled by Betfair when they turn a market in-play - unless you instruct the bets to be kept

Event though stop loss bets aren't physically in the market so don't get cancelled by BF they are still cancelled by Bet Angel (even if you keep unmatched bets), this is to prevent them triggering when all the money waiting suddenly disappears for a fraction of a second when it goes in-play

To use a Stop loss from global settings you'd either have to trigger the bet in-play or use a rule similar to the one this Servant uses which uses Stored values to calculate a stop price
viewtopic.php?f=58&t=17894

[TallblokeUK]

I actually set up a rule to store the value of the original lay bet.

I assume I could use that to do something clever, but not sure how.

For example, I could place a back bet if the odds reach X but the problem there is that would only work if the horse went on to win.

Getting the impression what I am trying to achieve isn't possible...