Smarkets
10 people visited our offices. We spent a lot of time talking about transparency and ensuring that our rules were fair, consistent and open. There were a lot of people that thought BF was taking advantage of their exchange position (beyond the PC) and making money where they shouldn't be. We talked about some technical issues of the API, sport id consistency and historical data. Very positive meeting! Happy to do it again if there is interest.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Yup as I wrote there:Euler wrote:I saw a query on facebook about not being able to scratch a trade on smarkets? Can you confirm what the situation is?
Scratching would be I lay at 3.0 then I don't think the market is going to move up to 3.05 so I back it back at 3.0.
I often part self match in this way as it is quicker than cancelling the order, for example I am at the front of the que at 3.0 with £1,000 with a further £2,000 of other money behind me. I am part filled for £300 leaving £700 of my money in the que, I would then back it at 3.0 for £1,000 self matching on £700 of my own money and the other £300 matched against other people money who were in the que behind me. Would this not be allowed on Smarkets?
As we all know a Scratch Trade is a Winning Trade
If I'm understanding a scratch trade correctly, that's when a trader is in and out of the market quickly? Yes that is allowed. However, we block traders from cross matching themselves. For example, if you had a standing buy order for 50% and wanted to sell 50%, you'd have to cancel the buy order first.
Traders will often scratch trades, I do it at least 5 times a day
Sometimes, I will match my own money to get out quick. In BF's early days this counted on the actual matched amount, but they then stopped this due to the liquidity being distorted.
So, you're wrong I'm afraid Jason. An example of a scratch trade is when somebody lays a horse for £250 @ 2.5, and then backs the same horse for £250 @ 2.5
Sometimes, I will match my own money to get out quick. In BF's early days this counted on the actual matched amount, but they then stopped this due to the liquidity being distorted.
So, you're wrong I'm afraid Jason. An example of a scratch trade is when somebody lays a horse for £250 @ 2.5, and then backs the same horse for £250 @ 2.5
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
mugsgame wrote:................................,-~*`¯lllllll`*~,............................................. .....
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But true!Jason:
Read my example again that is an example of a scratch trade:vide0star wrote:If I'm understanding a scratch trade correctly, that's when a trader is in and out of the market quickly?
I see no logical reason to not allow a scratch trade - you may as well change it now and allow it as I would bet 1.01 you will change it eventually to allow it.andyfuller wrote: Scratching would be I lay at 3.0 then I don't think the market is going to move up to 3.05 so I back it back at 3.0, [I could self match on part of the stake as below or all of the stake if non of my stake had been taken and I was at the front of the queue, in such a case it is often quicker to match my own bet than to cancel it].
I often part self match in this way as it is quicker than cancelling the order, for example I am at the front of the que at 3.0 with £1,000 with a further £2,000 of other money behind me. I am part filled for £300 leaving £700 of my money in the que, I would then back it at 3.0 for £1,000 self matching on £700 of my own money and the other £300 matched against other people money who were in the que behind me.
Have you or your team actually traded sports markets Jason? It seems you lack experience as to what is need/wanted. I would suggest you bring someone into your team as a consultant type position who has actually traded.
