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Frosy
Posts: 24
Joined: Fri Nov 20, 2009 8:11 pm

Hi All,

OK, I'm new to the Angel software, where best to start and understand it's feature. I'm going through the YouTube videos.

I want to this:
http://www.youtube.com/watch?v=-K9oyHSFkME

I tried this today (as in the video) and soon as I clicked the lay button it says I was betting a £40 stake when I had already set the stake to £2 :oops:

So where should I start ?

Thanks in advance!

Dave
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bugrit
Posts: 47
Joined: Thu Apr 16, 2009 2:48 pm

You need to understand the implications of laying. If you back a selection all you risk is your stake, regardless to what odds you took. But, when laying you are offering odds rather than taking them, so if you lay at more than evens (2.00 on betfair) your liability will be more than your stake.
The £2 refers to the backers stake you will collect if the selection loses. A few examples may make it clearer than my poor attempts to explain.
A) You lay £2 at 3.00, so if selection loses you collect £2, if it wins you pay out £4, not £6 because the odds on betfair always quote what a backers return will be including his stake. So 3.00 is actually 2+stake.
B) You lay £2 at 5.3, so if selection loses you collect £2, if it wins you pay out £8.6 (5.3 is 4.3+stake)
C) You lay £2 at 1.7, so if selection loses you collect £2, if selection wins you pay out £1.40 (1.7 is 0.7+stake)
Hope this helps :?
Steve
Frosy
Posts: 24
Joined: Fri Nov 20, 2009 8:11 pm

Thanks mate.

I sussed it out, I didn't have the 'stake all with' selected.

Just dabbling a few £'s now and winning but I can't get the green up to work. I have it selected but when I click the the green figure to 'green up' it says I'm placing another lay bet????

Any clues

Dave
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bugrit
Posts: 47
Joined: Thu Apr 16, 2009 2:48 pm

Thats what greening up is :D u use a portion of your profit to lay again thereby spreading your profit across all runners
Frosy
Posts: 24
Joined: Fri Nov 20, 2009 8:11 pm

So you are saying that but clicking the 'green profit button' again I'm correct is seeing this popup saying I'm laying another bet.

I have the popup because 'confirm bet' is checked I'm just not sure if that will green up the profit or lay another single bet.

See screen shot.

Dave
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Dogmatic
Posts: 34
Joined: Fri Apr 17, 2009 11:05 am

Hi Dave,

You really need to do some reading and understand what 'greening-up' actually is. It's not a magic BetFair function, it's simply a processs of spreading your potential winnings on a single runner over the whole field. You do this by laying that runner using a portion of the winnings - i.e. you're now using some of your potential winnings to hedge against that runner losing. So, yes, it is correct for Bet Angel to place "another single bet", because that's what greening-up is.

Regards,
Dog
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bugrit
Posts: 47
Joined: Thu Apr 16, 2009 2:48 pm

ok let me try and give a explaination of greening up
you back redrum for £2 at 3.05 and lay him for £2 at 3.00, so your p/l is as follows
A) redrum wins collect £4.10 on back and pay £4.00 on lay so you win £0.10 in total.
B) redrum loses you lose £2 stake on back and collect £2 on lay so you are even.
To win regardless of result you need to increase your win on the lay without your stake going above what your win on the back would! ( with me so far class? :D )
The easiest way to do this is to divide your back profit by the current lay price ( this is what the greenup function does) so in the above example divide £0.10 by say 3.00 as current lay price, this gives you £0.0333. So we then lay redrum again for £0.03 at 3.00 changing your p/l to the following
A) redrum wins you collect £4.1 on the back and pay £4.06 on the lay, so you win £0.04 in total.
B) redrum loses you lose £2 stake on back and collect £2.03 on lay so you win £0.03 in total.
Hey presto you now win regardless of result! simples :D
Frosy
Posts: 24
Joined: Fri Nov 20, 2009 8:11 pm

Thanks folks.

I'm familiar with Greening up I've been doing it on Betfair manually I just wasn't sure i that pop up was correct in Bet Angel.

Thanks for help!!

Dave
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