The old chestnut...Lay SP?

[rinconpaul]

I've recently subscribed, have got my excel spreadsheet working a treat, but one connection eludes me, and that's placing a Lay SP bet. I've always placed a Lay SP liability bet on Betfair's site, simple nominate liability, say $500, select horse and click SP.

In Bet Angel, allegedly, you've got to place a "LAY" text in the selections Green row, nominate odds of 1.01 and now comes the hard bit (for me anyway, and it seems many others reading previous posts, WHAT do I put in Stake??
I don't want to nominate a stake as the selection's SP is unknown and min stake in AUS is $5, so if SP ends up $500, my liability will be $2500. Then there's the question of insufficient funds?

Do I work out my intended liability, say $500, divide that by 0.01 = $50k and that's my stake? OR does Bet Angel deliberately confuse a newbie, in that if you place a LAY bid, STAKE now becomes liability? No that can't work as someone might just want to place a exchange Lay bet at whatever price.

This needs clearing up in my opinion by the User Guide is it's a non existent answer BUT so basic to a person transferring over from the Betfair site interface.

Thanks in anticipation.

[marksmeets302]

Just work with the current odds. Say they are 10.00, and you work out you need a stake of 5 at those odds. If the SP is different, betfair will match up to your original liability. For instance if the SP is 5, you will get matched up to 10. If the SP is 20, you can get matched for up to 2.5.

[rinconpaul]

Just work with the current odds. Say they are 10.00, and you work out you need a stake of 5 at those odds. If the SP is different, betfair will match up to your original liability. For instance if the SP is 5, you will get matched up to 10. If the SP is 20, you can get matched for up to 2.5.

Thanks for your reply but I sense that you're not experienced in laying longshots? The reason I want to place SP lay bets and not exchange lay bets , is that SP will usually be a price LESS than the exchange price at the Close, especially for longshots. Why accept lay odds of 600 when you'll probably get SP odds of 250?

[gazuty]

As requested.

[rinconpaul]

Gazuty, what is it and how do I open it?

[gazuty]

It's an automation file for guardian.

Load it in to guardian, and then it will set our unmatched bets to sp (within the time parameters set in the file).

Also for sp liability and staking, it works as follows. Betfair looks at the liability of your unmatched bet and then sets the stake against the sp odds to equal the liability of your unmatched bet.

So you have $3,000 at 1.01 as your unmatched bet (liability $30). The sp for that horse comes in at 6. You will be matched at a $6 stake for a $30 liability. If however that horse had an sp of 11. You will be matched at a $3 stake for a liability of $30.

Enjoy.

[rinconpaul]

I appreciate your help, but first and foremost...how do you load this file into BA? I can't Open it but can Save it. Pardon my software ignorance

In the meantime I have been corresponding with BA tech support. After a number of return volleys, this was their answer:

"Leave the TAKE_SP_ALL cell blank while placing the bets so that you give the lay bets time to be processed by Betfair and to appear in Bet Angel as unmatched bets.

Once they are visible in Bet Angel as unmatched bets, then you can issue the TAKE_SP_ALL which will issue the command to Betfair to mark each unmatched bet as 'Take SP'. You'll only need a couple of seconds delay between the bet placement and the TAKE_SP_ALL command.

Without issuing the commands in two stages, you're telling Bet Angel to mark all unmatched bets as Take SP, BUT until the lay bets are processed by Betfair you don't actually have any unmatched bets and so the TAKE_SP_ALL command has nothing to do."

Quite unsuitable for my purposes as timing speed is what it's all about! I place my bets with seconds remaining to ACTUAL start, and having to two stage placing a bet isn't modern day speak IMHO.

Hopefully your solution works Gazuly, or I'll have to go to other software?

[blueport]

Guardian/Automation/Import a rules file.

Select file from Rules file name drop down list then apply to all or selected markets.

[rinconpaul]

Thanks Blueport. I never would've guessed. It'll have to wait till tomorrow morning now, as I'm busy betting and I can't afford any stuffups with real money.

Again thanks to both you and Gazuly

P.S. How com you guys know more than tech support?

[burntheory]

rinconpaul: In the meantime I have been corresponding with BA tech support. After a number of return volleys, this was their answer:

"Leave the TAKE_SP_ALL cell blank while placing the bets so that you give the lay bets time to be processed by Betfair and to appear in Bet Angel as unmatched bets.

Once they are visible in Bet Angel as unmatched bets, then you can issue the TAKE_SP_ALL which will issue the command to Betfair to mark each unmatched bet as 'Take SP'. You'll only need a couple of seconds delay between the bet placement and the TAKE_SP_ALL command.

Without issuing the commands in two stages, you're telling Bet Angel to mark all unmatched bets as Take SP, BUT until the lay bets are processed by Betfair you don't actually have any unmatched bets and so the TAKE_SP_ALL command has nothing to do."

Quite unsuitable for my purposes as timing speed is what it's all about! I place my bets with seconds remaining to ACTUAL start, and having to two stage placing a bet isn't modern day speak IMHO.

This is exactly what I'm looking for, though. Finally, a reliable method that allows me to set SP liabilities individually for each runner, load them into the BF SP markets in a second or two, using spreadsheet, in the morning and get on with my life for the rest of the day.

Thanks.