Does anyone know how Betfair create their Starting Prices? Yesterday Quiet Mountain in the 4:40 at Newcastle went off at a Betfair SP of 9.05. That's OK but what I can't understand is that Betfair's data indicate a Pre-Play Maximum price for Quiet Mountain of 8.2. How on earth can the Betfair SP jump that much over its previous maximum?
Grateful for any insights.
Seabird.
Betfair Starting Price query
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Have a read of section 10 through to section 10.4. They explain the process there.
http://www.betfair.com/www/betfair/GBR/ ... defined.do
http://www.betfair.com/www/betfair/GBR/ ... defined.do
Thanks Andy and Mug, you're mines of useful information, as usual.
I can see several ways why such apparent 'discrepancies' could arise having looked at the links you provided.
It doesn't seem very transparent to me... more like a lottery than anything else. Or am I missing something?
I think what I have learned from this is that backing on the BSP is OK but laying at it is probably best avoided.
Does anyone regularly use the Betfair Starting Price to their advantage?
Thanks again.
Seabird
I can see several ways why such apparent 'discrepancies' could arise having looked at the links you provided.
It doesn't seem very transparent to me... more like a lottery than anything else. Or am I missing something?
I think what I have learned from this is that backing on the BSP is OK but laying at it is probably best avoided.
Does anyone regularly use the Betfair Starting Price to their advantage?
Thanks again.
Seabird
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
I personally don't touch it unless I need to exit a trade and it is near the off and I am unsure when the race will start, for example when ATR are still at ads. I will switch to Take SP at In Play just to be on the safe side so I don't end up inplay.
The rules as to how it can be settled leave a lot to be desired though
I think this one point sums it up quite well:
If the SP reconciliation process is undertaken later than scheduled and Betfair determines that a material event has occurred (this will generally mean that the event is not turned in-play), the SP will be determined based solely on SP bets.
I tried to get them to clarify what they meant by a Material Event more than just the one example they give and they would not.
I.E. We will make it up as we go along!
The rules as to how it can be settled leave a lot to be desired though
I think this one point sums it up quite well:If the SP reconciliation process is undertaken later than scheduled and Betfair determines that a material event has occurred (this will generally mean that the event is not turned in-play), the SP will be determined based solely on SP bets.
I tried to get them to clarify what they meant by a Material Event more than just the one example they give and they would not.
I.E. We will make it up as we go along!
Typical of Betfair.
When it was first introduced I misguidedly thought that the BSP would be somewhere close to the price(s) as a race turned in-play. If you had to place your bet well before the race took place I thought it would be something like taking SP at the bookies.
Generally speaking I think it is probably OK to place a back bet at BSP if you have to, but NOT a lay bet, they are often wildly disadvantageous.
I shall be keeping well clear in future.
Seabird
Seabird
When it was first introduced I misguidedly thought that the BSP would be somewhere close to the price(s) as a race turned in-play. If you had to place your bet well before the race took place I thought it would be something like taking SP at the bookies.
Generally speaking I think it is probably OK to place a back bet at BSP if you have to, but NOT a lay bet, they are often wildly disadvantageous.
I shall be keeping well clear in future.
Seabird
Seabird
I tend to use SP to exit positions near the off if I am close to a fill. The problem you need to be aware of is that, especially on flat races, if a horse misses the kick or gets a good start people with a fast feed will probably thump the price in one direction or another upsetting the true SP price.