Hi
Can anybody explain what the Betfair process is when they scratch a horse during US pre-race trading?
Twice in the last few days I have backed a horse, then layed it only to find that betfair have adjusted my back price after I have layed the horse. Turning a small expected profit into a nice loss.
Thanks
Peter
US Horses scratched during pre race trading
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
fletch300 wrote:Twice in the last few days I have backed a horse, then layed it
What I suspect is happening is that you do one action before the WD, therefore the WD is applied to that part of the bet only.fletch300 wrote:betfair have adjusted my back price after I have layed the horse.
The process is exactly the same as in UK racing, only difference is that they are not as 'hot' on spotting the fact a horse has been Withdrawn as the markets often seemed to be managed by a team of monkeys.
Thanks
In that case how can I tell when they have updated the back price and it is safe to lay and be sure of the outcome?
Tonight for example, after all the lay prices had been removed for around 30 seconds and new prices entered, I assumed it was safe to lay and my back price would had been adjusted already. When I did lay I was expecting a profit, but then the back price was changed after this.
I agree with what you say about betfair not able to monitor the runners. I have watched one horse trade as favourite for all the pre-race trading, knowing it was a non runner.
-Peter
In that case how can I tell when they have updated the back price and it is safe to lay and be sure of the outcome?
Tonight for example, after all the lay prices had been removed for around 30 seconds and new prices entered, I assumed it was safe to lay and my back price would had been adjusted already. When I did lay I was expecting a profit, but then the back price was changed after this.
I agree with what you say about betfair not able to monitor the runners. I have watched one horse trade as favourite for all the pre-race trading, knowing it was a non runner.
-Peter
-
andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Last night they had a market where they had Withdrawn the 1/5 Fav , problem was it was still in the race 
If you back and lay the horse before the Withdrawal is done the Reduction Factor (RF) will apply to both the back and lay and therefore your position won't alter.
If however, you for example back at 4.0, then they withdraw a horse which causes the odds to be reduced on your back to 3.0 and then you lay at 3.9 now that the Withdrawal has happened you will lose. Even though you initially backed at 4.0 and have laid at 3.9. As now you have actually backed at 3.0 and laid at 3.9.
So as long as you have done both the back and the lay before the WD both will have the same RF applied and you will be fine.
Or if you Back it and then there is a WD just make sure the lay is below the price you have backed at that will have been adjusted because of the RF.
If you back and lay the horse before the Withdrawal is done the Reduction Factor (RF) will apply to both the back and lay and therefore your position won't alter.
If however, you for example back at 4.0, then they withdraw a horse which causes the odds to be reduced on your back to 3.0 and then you lay at 3.9 now that the Withdrawal has happened you will lose. Even though you initially backed at 4.0 and have laid at 3.9. As now you have actually backed at 3.0 and laid at 3.9.
So as long as you have done both the back and the lay before the WD both will have the same RF applied and you will be fine.
Or if you Back it and then there is a WD just make sure the lay is below the price you have backed at that will have been adjusted because of the RF.