Taking SP on a lay bet

[jamesedwards]

I assumed to take SP on a lay bet it was the same as a back bet except you ask for odds of 1.01 then take SP. But this isn't working! How do you take SP on a lay bet?

[gazuty]

I assumed to take SP on a lay bet it was the same as a back bet except you ask for odds of 1.01 then take SP. But this isn't working! How do you take SP on a lay bet?

If going for 1.01 you need to hit the minimum liability.

In Australia that is $30.

So you need to lay $3,000 at 1.01.

https://www.betfair.com.au/hub/betfair- ... rice-faqs/

[jamesedwards]

I assumed to take SP on a lay bet it was the same as a back bet except you ask for odds of 1.01 then take SP. But this isn't working! How do you take SP on a lay bet?

If going for 1.01 you need to hit the minimum liability.

In Australia that is $30.

So you need to lay $3,000 at 1.01.

https://www.betfair.com.au/hub/betfair- ... rice-faqs/

Of course! I remember now, I've asked that exact same question in the dim and distant past. Thanks for the reminder!

[decomez6]

I assumed to take SP on a lay bet it was the same as a back bet except you ask for odds of 1.01 then take SP. But this isn't working! How do you take SP on a lay bet?

If automating , take SP on all unmatched bets ,then
condition - event NOT in play .
Placing at 1.01 is to keep your bet well away from the current price to stop it from getting matched and keep it active .

[jamesedwards]

Anyone know what the minimum for greyhound racing in the UK is? Just tried £200 @ 1.01 as assumed it was £2 minimum liability but still didn't work. No greyhound races left to test on this evening...

[decomez6]

laying @1.01 or taking SP ?
So long as you condition . Event NOTin play.
If taking SP ask at any other Odd way enough from the current price e.g 10 ticks away from the current trading range . It needn’t be 1.01 .

[jamesedwards]

laying @1.01 or taking SP ?
So long as you condition . Event NOTin play.
If taking SP ask at any other Odd way enough from the current price e.g 10 ticks away from the current trading range . It needn’t be 1.01 .

The minimum liability for taking SP on UK greyhound races. £2 (£200 @ 1.01) it seems is not enough.

[decomez6]

laying @1.01 or taking SP ?
So long as you condition . Event NOTin play.
If taking SP ask at any other Odd way enough from the current price e.g 10 ticks away from the current trading range . It needn’t be 1.01 .

The minimum liability for taking SP on UK greyhound races. £2 (£200 @ 1.01) it seems is not enough.

If you lay at 1.01 , the game will have to be on IN play for the bet to get matched .
SP is only available when the event is NOT in play .
Help me understand why you MUST ask at @ 1.01 if you are only interested in taking SP ?

[foxwood]

Anyone know what the minimum for greyhound racing in the UK is? Just tried £200 @ 1.01 as assumed it was £2 minimum liability but still didn't work. No greyhound races left to test on this evening...

As far as I know, it's TakeSP Minimum : £10 liability lay bets / £2 stake back bets

[decomez6]

Or using SP. as a BF crash safety feature while asking for lay @ 1.01?
Even then I don’t see the use of SP , you only need to keep all unmatched bets . Laying using SP will result to asking at higher odds and higher liability.
—- unless I am missing something

[jamesedwards]

Anyone know what the minimum for greyhound racing in the UK is? Just tried £200 @ 1.01 as assumed it was £2 minimum liability but still didn't work. No greyhound races left to test on this evening...

As far as I know, it's TakeSP Minimum : £10 liability lay bets / £2 stake back bets

Thanks. That rings a distant bell too!

[jamesedwards]

Or using SP. as a BF crash safety feature while asking for lay @ 1.01?
Even then I don’t see the use of SP , you only need to keep all unmatched bets . Laying using SP will result to asking at higher odds and higher liability.
—- unless I am missing something

When automating multiple markets taking SP removes the spread. The market book is always 100%.

[Anbell]

When automating multiple markets taking SP removes the spread. The market book is always 100%.

This is not true.

[foxwood]

Or using SP. as a BF crash safety feature while asking for lay @ 1.01?
Even then I don’t see the use of SP , you only need to keep all unmatched bets . Laying using SP will result to asking at higher odds and higher liability.
—- unless I am missing something

Keeping all unmatched bets does not guarantee you will be matched in running (and not all events go in running).

If you take SP for a lay bet your liability stays the same. You may get higher odds in which case if the selection wins you lose the same as your original bet would have. However if the selection loses at higher odds the implied stake for that liability is lower and therefore you win less £ than the original bet would have.

Matched lay bet £2 @ 3.0 ....if selection wins -£4.00 loses +£2.00
Same but TakeSP @ 4.0.......if selection wins -£4.00 loses +£1.33

[jamesedwards]

When automating multiple markets taking SP removes the spread. The market book is always 100%.

This is not true.

Sorry yes, I meant on average. I've always assumed betting at SP removes the spread so on average SP books will equal 100% where if not betting as SP the average book will be somewhat adverse. Please tell me if I'm wrong.