Being the bookmaker

[cyclops1000]

Hi all
Looking at the bookmaker function in the manual and was just wondering how to automate it as follows
I can go through each race and manually set the odds on each horse - actually just setting the lay price at the current back price and wait for the price to shorten using the command in the bookmaking screen - but would like it to place the bets at a closer price to the lay price
For example
Current back price 3
Current lay price 4
So I would place a selection at lay odds of 3
Would follow the same process on each selection
Using the above example is there a function that would let me enter a price 2 or 3 ticks or whatever I select across every selection ?

[gazuty]

Hi all
Looking at the bookmaker function in the manual and was just wondering how to automate it as follows
I can go through each race and manually set the odds on each horse - actually just setting the lay price at the current back price and wait for the price to shorten using the command in the bookmaking screen - but would like it to place the bets at a closer price to the lay price
For example
Current back price 3
Current lay price 4
So I would place a selection at lay odds of 3
Would follow the same process on each selection
Using the above example is there a function that would let me enter a price 2 or 3 ticks or whatever I select across every selection ?

Are you looking to lay below the current back price? I'm not clear why you would want to lay at the current or at worse than the current lay price (with that guaranteeing you a loss if you laying the field below 100%)

[cyclops1000]

I would set it to place the selections only if the book was above 100%
If the book is showing over 100% for all the placed bets and they were all matched then there would be a profit
Look in the manual under "Being the bookmaker" and you will see what I'm trying to achieve

[gazuty]

So you are looking to lay the field using the back side prices (ie laying) below the current best back side price. Fair enough. And what will you do when you don't complete the book by the off? ie for your unmatched bets?

[cyclops1000]

Take my chances they will be matched inplay as I will set the persistence to keep - if they get matched then good , if not then so be it

[gazuty]

Take my chances they will be matched inplay as I will set the persistence to keep - if they get matched then good , if not then so be it

I guarantee with that strategy you will be a loser. Your lay bet will be matched on each horse that goes on to be a winner and will have an exposure that will not be covered by lays on the rest of the field. That is because you will rarely complete the book, particuarly on longer priced runners that never trade below their LTP once the race begins. And sometimes you will only lay the winner and won't have another matched bet.

Obviously experience all of these losses for yourself if you wish - but take it from an experienced person, your strategy at the moment is a long term losing strategy (if we are talking applying it to horse racing).

[cyclops1000]

Raised it against horse racing in this instance but could be applied to other sports
Got to start somewhere

[to75ne]

Take my chances they will be matched inplay as I will set the persistence to keep - if they get matched then good , if not then so be it

I guarantee with that strategy you will be a loser. Your lay bet will be matched on each horse that goes on to be a winner and will have an exposure that will not be covered by lays on the rest of the field. That is because you will rarely complete the book, particuarly on longer priced runners that never trade below their LTP once the race begins. And sometimes you will only lay the winner and won't have another matched bet.

Obviously experience all of these losses for yourself if you wish - but take it from an experienced person, your strategy at the moment is a long term losing strategy (if we are talking applying it to horse racing).

not forgeting reduction factors they will cripple you.