I have seen a few topics referring to positions placed at 1.01.
As this appears to be a well-known strategy and is therefore not a particular secret could someone please describe what is going on and why it is done.
Thanks in advance
Betting at 1.01
I realise that I'm going to make myself look really dim but I come from a financial trading background where, if you trade at say £10 a pip, every pip is worth + or - £10 wherever you enter/exit the market.
But on Betfair when the price goes to 1.01, some witchcraft occurs and apparently you can lay for £100 profit with only £1 at risk if the blighter wins. At least that seems to be what is happening in the spreadsheet on the linked thread.Perhaps I have misunderstood.
I am obviously lacking some very important knowledge about betting markets at very low odds. Can anyone switch the lights on for me please?
But on Betfair when the price goes to 1.01, some witchcraft occurs and apparently you can lay for £100 profit with only £1 at risk if the blighter wins. At least that seems to be what is happening in the spreadsheet on the linked thread.Perhaps I have misunderstood.
I am obviously lacking some very important knowledge about betting markets at very low odds. Can anyone switch the lights on for me please?
If anyone is outraged at a question from a beginner, on a beginners forum, it says more about them than it does me.
I notice that you waste time posting but don't actually make any attempt to answer the question. What is the point of doing that? Perhaps it helps you feel superior. If you don't want to help just don't reply at all.
No-one is born with knowledge they have to acquire, at least part of it, from others. I am familiar with odds represented as fractions I am however, new to decimal odds.
To save anyone else the bother I am presuming that decimal odds of 1.01 equate to fractional odds of 1/100. So to cover a lay bet of £1 you have to back with £100.
I expect I can find a conversion formula elsewhere.
I notice that you waste time posting but don't actually make any attempt to answer the question. What is the point of doing that? Perhaps it helps you feel superior. If you don't want to help just don't reply at all.
No-one is born with knowledge they have to acquire, at least part of it, from others. I am familiar with odds represented as fractions I am however, new to decimal odds.
To save anyone else the bother I am presuming that decimal odds of 1.01 equate to fractional odds of 1/100. So to cover a lay bet of £1 you have to back with £100.
I expect I can find a conversion formula elsewhere.
It's not quite the same between financials and Betfair although there are similarities.
A 'pip' in Betfair terms is generally called a 'tick' and the tick gap determines the stake required to realise a set profit. Whereas the pip gap in forex for example does not vary within the same currency.
So for prices 1.01 to 1.99 you will need to stake £1000 to realise £10 profit for a one tick move.
For prices 2.0 to 2.98 you will need to stake £500 to realise £10 profit for a one tick move.
And so on. For prices 6.0 - 9.8 you only need a stake of £50 to realise a profir of £10 for a one tick move.
Bet Angel can calculate this if you use the 'Auto stake' section at the top of the screen. If you tick 'Auto update' it will automatically update the stakes depending on the price of each market selection.
A 'pip' in Betfair terms is generally called a 'tick' and the tick gap determines the stake required to realise a set profit. Whereas the pip gap in forex for example does not vary within the same currency.
So for prices 1.01 to 1.99 you will need to stake £1000 to realise £10 profit for a one tick move.
For prices 2.0 to 2.98 you will need to stake £500 to realise £10 profit for a one tick move.
And so on. For prices 6.0 - 9.8 you only need a stake of £50 to realise a profir of £10 for a one tick move.
Bet Angel can calculate this if you use the 'Auto stake' section at the top of the screen. If you tick 'Auto update' it will automatically update the stakes depending on the price of each market selection.
@ 6th Sense - it's not quite as simple as that. The stake required for a given return is different for every price point in the entire range. This is for the obvious mathematical reason that, as an example, the percentage difference between 1.01 and 1.02 is almost double the difference between 1.98 and 1.99. Unfortunately, the auto staking facility in BA does not reflect this and is a very crude tool for determining stake size.
tbh I don't think it could be hardly described as crude,
a tick size is supposed to be an equal amount for each tick won or lost and that is exactly what bet angel doe's isnt it
.
you idea could not really be called a tick size,
as it would not be equal,
5 tick won and five ticks lost would not be break even.
a tick size is supposed to be an equal amount for each tick won or lost and that is exactly what bet angel doe's isnt it
.you idea could not really be called a tick size,
as it would not be equal,
5 tick won and five ticks lost would not be break even.
Frogmella - in answer to your question - and also from a beginner. The positions at 1.01 etc are there to take advantage of the fact that even though the inevitable is expected it sometimes doesnt happen and if the market moves you can take advantage of it for a lot less liability. I never tried it myself as more experienced traders get in there first and that is the master trick I was led to believe that needs to happen. Good luck and if you do get it to work please let me know how. If this is not true then sorry to all you experienced ones and thanks for nothing t##t that gave me this explanation.