Lay betfair SP: What I thought was the easiest bot to write!!!

[waytogo78247]

Yep, I thought this would be a piece of cake to write, but turns out not quite possible!

OK some background:

a, In over 2 years I have recorded over 12,000 bets made.
b, In those 12k bets I noted that I made over 1000 points vs Betfair SP on winners. Losers of course just simply lost.

There could have been some post time non runners that could erode that profit causing deductions

Problem:
There are massive losing streaks just betting.

Wanted Solution:

Just bet normally then LAY at SP and collect the difference.

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Easy Ugh!

Here is one I traded manually to place £10 bets and LAY £10 at SP.

P.JPG

As you can see there are three bets in this race all at £10. I made a few pennies on the race but that is NOT what I wanted.

I placed trades in there for £10 exact but when two of them settled to SP they did not settle to exactly £10 Lay.

I would have lost more on the race but is what I want.

What I wanted to do was this:

"Push" any losers by betting The same amount on BFSP and the original bet. It matters not if they get bet down or drift. I have an equal amount on both sides.

Example:

A horse finishes 3rd and I bet on the win market

£10 to win @5.00 = -£10.00
£10 Lay on a drifter @6.00 = +£10

Every loser is a "Push"

On the winners I want to accept the loss when they drift as in the above race and collect the gain when they win.

Same example but this time it won

£10 to win @5.00 = +£40.00
£10 Lay @6.00 = -£50.00

The result on this race is a £10 loss but don't care as my records show a 2:1 ratio of bet down to drifters.

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Was the example race because there was more than one selection in the race that they did not all settle to exactly £10 lay?

So the question is can BetAngel FORCE a lay bet at exactly £10 ?

[Dallas]

Betfair don't allow you to place a fixed stake Lay BSP bet.
They always adjust the stake to maintain the liability you chose when placing the bet so they know how much to deduct from your balance when its placed and more importantly that you have the funds to cover it

[waytogo78247]

Thanks Dallas,

The funds are no problem they would cover even 1000.00 even though I don't go ear there when laying.

If I placed a fixed £10 lay and it was 1.99 or less it should lapse. That can get overlooked by most.

So my proposed bot is a Dodo.

It is hard to contemplate that you could want a simple £10 lay and they only settle to £8.97 or whatever they feel like.

[Dallas]

Thanks Dallas,

The funds are no problem they would cover even 1000.00 even though I don't go ear there when laying.

If I placed a fixed £10 lay and it was 1.99 or less it should lapse. That can get overlooked by most.

So my proposed bot is a Dodo.

It is hard to contemplate that you could want a simple £10 lay and they only settle to £8.97 or whatever they feel like.

They don't settle to what they feel like, they use your stake as the max liability you are willing to risk when placing the bet just like they do with back bets - and with these they don't allow you to place a SP back bet to a liability (target profit) for the same reason

I certainly wouldn't want to risk placing a £10 fixed lay bet only for it to play up badly in the stalls and end up going go off with a BSP of several hundred or even 1000.0 and leaving me with a potential £10'000 loss if it wins

[waytogo78247]

They don't settle to what they feel like, they use your stake as the max liability you are willing to risk when placing the bet just like they do with back bets - and with these they don't allow you to place a SP back bet to a liability (target profit) for the same reason

So having other bets in the same race will affect all Lay SP bets you have as to conform to some kind of sensible liabilty algorhthm.

I had never even thought about the Target profit on a back bet at SP as usually you are wrong in the market if taking a win SP and just hope you don't lose too much. That makes the lay liability look a bit mre sensible now.

Thanks again.

I will start having to collect 1 sec to post data on all my bets to see what that price is. Please don't tell me that they will not lay out your full £10 before the off! We are all know what that liability will be.