Hi All,
In trying to get BSP on my Lay bet I have to go thru the (silly) process of looking for an unattainable lay price so that the bet becomes unmatched and the
"take sp on all unmatched bets" is triggered. I just realised that when you go low on the unmatched bet as the sp stake amount seems to be computed from the fake liability thus calculated you end up placing a lay bet which can be considerably less than what was intended from the original Book % amount. My fake bet is custom 30 ticks lower than best market price. For example my (practice mode) fake bet was based on 1000 book amount and the unmatched bet was 327.87
at 3.05(30 ticks below best price) The system then appears to compute my liability of 672.13 (1000 minus stake 327.87) and keeps that liability for the later SP bet and derives the new stake by dividing liability by sp odds- less 1 available.- In this case (5.37-1) 4.37 .. the stake is 153.80.
If the process instead used the original Book amount of 1000 for the bsp odds of (5.37 less 1) the (backers) stake would be 228.83. I know that I can go closer to the real price initially but might not then realise BSP . There might be an easy fix that I have overlooked.
Manner in which BSP is processed causing less than intended staking
LEST I CAUSE OFFENCE!!!!
I realise the BSP issue is one for betfair not Betangel but the solution may lies in some way in the betangel program.
Also betfair are clearly taking the safe option by using the liability method based on the liability input on the original bet. They are not mind readers after all ans cannot assume we all use fake bets to attain BSP
The obvious solution is to place my bet just a few ticks odds near best market odds which is what I shall do unless somebody has a better solution?
I realise the BSP issue is one for betfair not Betangel but the solution may lies in some way in the betangel program.
Also betfair are clearly taking the safe option by using the liability method based on the liability input on the original bet. They are not mind readers after all ans cannot assume we all use fake bets to attain BSP
The obvious solution is to place my bet just a few ticks odds near best market odds which is what I shall do unless somebody has a better solution?
What you describe has been causing me a major headache for ages within Guardian, and you're right - it's a generic problem, not a BA one. I just can't see a viable way around it, because by the time the BSP is settled, the price will almost certainly have moved from where it was when you placed the lay bet, thus altering the liability again in any case.
I've considered doing similar to what you suggest - place the lay bet say 5% (or a few ticks) below the current price, and you could set Guardian to 'cancel and re-trigger' this process every couple of seconds, with Take SP activated every 2 seconds too, but I'm pretty sure this will occasionally lead to over/under staking dramatically due to unfortunate timing issues (the race goes off at the exact moment you have no bet in the market), and withdrawn runners might cause a major problem too (lay bets converted to SP bets, but Guardian doesn't know). It's a messy solution, and you have to green/red again in-running, but it's the best I can think of to achieve this.
I've considered doing similar to what you suggest - place the lay bet say 5% (or a few ticks) below the current price, and you could set Guardian to 'cancel and re-trigger' this process every couple of seconds, with Take SP activated every 2 seconds too, but I'm pretty sure this will occasionally lead to over/under staking dramatically due to unfortunate timing issues (the race goes off at the exact moment you have no bet in the market), and withdrawn runners might cause a major problem too (lay bets converted to SP bets, but Guardian doesn't know). It's a messy solution, and you have to green/red again in-running, but it's the best I can think of to achieve this.
Yes thanks weemac maybe a 3 sec retrigger with a 2 sec fill/kill based on 3 ticks below best market price might keep the bet unmatched barring a spike.
How about approaching the problem from a different perspective - and this isn't fully thought through:
BF will only take up to the amount of liability commited to. So for your sp out bet wherever you decide is out of harm's way if you used a liability equal to your potential win wouldn't that give you a win or loss situation confined to just the one runner which could then be hedged.
BF will only take up to the amount of liability commited to. So for your sp out bet wherever you decide is out of harm's way if you used a liability equal to your potential win wouldn't that give you a win or loss situation confined to just the one runner which could then be hedged.
I think I get it. Go higher on your liability by increasing Book % to get the exact lower liability you need - that would work and you might be able to compute that exactly but i shall have to think more about the computational part to see if it can be worked
As I said I haven't thought it through properly - so it might be idiocy or genius. But what you seem to be after if you open with a £10 back and seek to come out with an sp lay at a speculative price is that BF take whatever liability it takes to give you a £10 lay - which of course they won't do because they'll only take the liability you committed to. But my thinking is that if your speculative out stake is calculated to be the same as the liability that your opening bet's win would generate- then if it sps at the same price as you entered you should wind up with £10 in and out for a scratch even if you'd put your outbet way down low.
I suppose if I went 125% higher on the Book% which I then discount by say 20% lower than current odds then should end up at original target.
I willl try that also but actually noticed 6ticks below best Mkt price is working well as its often matching my Lay at less than BSP.
The draw for me of BSP is that you can easily use BSP prices in back checking strategies over time also but a better price is ultimately better.
I willl try that also but actually noticed 6ticks below best Mkt price is working well as its often matching my Lay at less than BSP.
The draw for me of BSP is that you can easily use BSP prices in back checking strategies over time also but a better price is ultimately better.
Actually meant 25% higher there!!! not 125%
The problem with SP is that your staking will influence the outcome. I experimented a lot with SP and could influence the price at which SP was settled by raising or lower stake. So it's a circular loop in terms of anticipating exactly what the SP will be.