Getting matched at BSP

[Iron]

Hi Mugs

I'm not sure what happened, although I hadn't changed my spreadsheet since yesterday evening, when I tested it and it worked fine.

Oh well, getting my spreadsheet to close before the off, whilst a pain to programme, will at least ensure that I don't get shafted...

Thanks to everyone for your comments.

Jeff

What could have happened is (this usually happens if you BACK at SP) is it didn't green up, instead left a profit on everything else and a loss on the horse that won. If Laying it would have greened up.

[Iron]

I think I misunderstood Mugs's point.

I wasn't aware there was a difference between how Betfair processes back BSP bets and lay BSP bets.

Bizarre.

Jeff

I've never really understood the back side of the bsp algo. The lay side is much easier given it's just dividing liability into the price. Because of the problem above, I only take lays at bsp, not backs.

[Kimmy]

Can you place a bet at BSP within a price range?

I know you can place a LAY BET for liability at the highest price and similar a BACK bet at the lowest price stake
example
If (Horse) BSP >=3.00,<=6 THEN BACK
IF Horse's BSP is 3.00 up to and including 6 then Back
Bet Angel Learner

[mugsgame]

I think I misunderstood Mugs's point.

I wasn't aware there was a difference between how Betfair processes back BSP bets and lay BSP bets.

Bizarre.

Jeff

I've never really understood the back side of the bsp algo. The lay side is much easier given it's just dividing liability into the price. Because of the problem above, I only take lays at bsp, not backs.

Think it's to do with the BF settings.

If you have a BFSP lay of £50 and the odds you were trying to get matched at was 2. The liability would be £50. So BF then use the £50 as liability and divide up your £50 by the odds.

If it was a back bet of £50 at 2, and the odds went against you say down to 1.8. When sp was calculated it would back £50 at whatever SP was (say 1.8) so 50 x 1.8 = £40 which leaves you a red of £50 if this horse goes onto win. Hence the lay gives an equal spread and the back leaves you f*****

well thats the way I understand it Jeff - Does that ring true with what happened to you?

[Iron]

Hi Mugs

Quite possibly - thanks. The horse concerned was the fav that went off at something like 1.37 but lost.

I'll see what the crack team at Betfair have to say when they get around to replying to my email...

Jeff

[spreadbetting]

More likely it was a back bet where the bsp returned a lot higher the offset lay leaving you a small green on the runner but red elsewhere. You should easily figure it out from the market's bet history.

i.e. you back £100 @ 2.1 your offset lay is submitted at £105 @ 2 hoping for a £5 green book. The offset lay of £105 isn't matched and the BSP is returned at 2.5 cos of a slow start,drift etc. Your £105 lay liability now gets converted to a £70 lay at 2.5 so your overall position is +£5 (110-105) on the traded runner but -£30 ( 70 from bsp lay less 100 stake)on all the other runners


Are you still traded the races or doing the financials now, Andy? How's that going and was the switch easy if you switched.