Confused about stored value condition

[tryingtotrade]

Hi,

Have been trying to understand how this stored value condition is working. What I’m hoping to do is to only have a bet placed if the 1st and 3rd best back price are quite close together meaning there is good market depth.

If I have "the 3rd best Back price of a selection is less than the best back price of a selection plus 5 percent“ as a condition.
This would mean that if the 3rd best back price is 5 and the best back price is 10 the bet would not be placed as 20% < (10%+5%) is false as 20% > 15%.
So the lower odds price is the larger implied percentage price?

And what would be the difference if I selected „percentage (using price -1.0)

Somehow I can’t understand how this condition works, the bet is not placing at all when I think it should. Could someone explain? Thank you

[MIYAGI52]

Hi,

Firstly, I am not an expert like some of the users on this forum, so take my idea in that context.

I would use the Stored Value condition like you are using but instead of percentages, I would use ticks. A well formed market should have all prices within 2/3 TICKS at the most apart (best & the next best back price). Therefore use condition, Stored Value Condition, Value A, Price of selection as the best back price, which must be less than Value B, the 2nd best back price plus 2/3 ticks. Eg best back price is 3.0 and 2nd best back price is 2.8 then 2.8 plus 3 ticks is 2.86 and 3.0 is not less than 2.86 so condition is not met. Another eg. 3.0 best back price and 2.96 is the next best back price, add 3 ticks to second best back price, equals 3.05 and 3.0 is less than 3.05 so condition is met.

I hope this helps,

[tryingtotrade]

Thank you

the problem I have is that at higher prices the ticks make much less of difference difference in % and it’s normal even for liquid market to have some gaps.
Say odds 50 to 100 it’s 10 ticks but only 1% difference in implied chance.
That’s why i’m hoping to do it with percentage difference but it’s not triggering any bets at all the way that I have done it in the previous example.

[jamesedwards]

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See above for how to achieve what you are looking for.

If you use precent -1 then it subtracts both prices by 1. So rather than 3 / 2.8 = 7.1%, you get 2 / 1.8 = 11.1%. This is important when you start comparing really small prices, like 1.02 / 1.01 is 1%, or 100% depending on the measure.