Apologies if this is a stupid question; do betfair apply a reduction factor to in running bets?
I have just watched 2.00 at Chepstow where On Reve was withdrawn before the start (would not enter the stalls). When the race went in play En Reve was not removed from the field and prices were traded on all runners including the non runner.
In such situations do Betfair apply a reduction factor to all bets including those placed in play?
Reduction Factor In Running?
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Reduction factor only applies to pre off bets. That's why you see people pushing down the price on the non runners in play hoping to bring out bots to lay massively over or underround books and get stuffed once the NR bets are voided. You'll notice the book going all over the shop too as Betfair turn off cross matching.
Non runners often have all their bets cancelled that were matched in play. Of course the whole book can be wildly out because of this.spreadbetting wrote:Reduction factor only applies to pre off bets. That's why you see people pushing down the price on the non runners in play hoping to bring out bots to lay massively over or underround books and get stuffed once the NR bets are voided. You'll notice the book going all over the shop too as Betfair turn off cross matching.
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
This is the non-PC answer. It is because Betfair's bean counters will make the necessary adjustment to ensure they gain as much money from the % cut.98lewisj wrote:A bit off the subject but why is the RF of each runner different to the Book percentage on each runner? only by a few % but its been on my mind for months??
It should be based on the price at the time of withdrawal but that can easily be manipulated by Betfair and often is. They will claim it was bets struck at x seconds before the withdrawal.
The same applies to the BSP, it should really be called the Betfair "Just after the starting" price. If a horse makes a bad start the BSP will be larger and vice versa it will be smaller should the horse get a good start.