2 choice market

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cyclops1000
Posts: 72
Joined: Mon May 06, 2019 10:01 am

Looking at building a bot but need a bit of direction
It would apply to markets that only have a choice of 2 selections in the match odds such as basketball , NFL , NRL etc
Looking at placing a bet on the favorite before the start on current odds (easy) and then placing another bet on the underdog at the same time using current odds but just enough to cover the liability on the first
For example match odds are 1.8 on the favorite and match odds on the underdog are 2.5
If the favorite wins then good but if the underdog loses then at least it can break even or make a small loss
Might only be small amounts of profit but nobody went broke taking the profit
Had plenty of good advise , suggestions and direction from members who know more than me for bots I've built in the past
Thanks in advance
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Dallas
Posts: 23599
Joined: Sun Aug 09, 2015 10:57 pm

I'm not entirely sure what you'd achieve that you couldn't with a single bet?

Perhaps you could give a fuller real time example including if your backing/laying and offering and taking prices?
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Derek27
Posts: 25159
Joined: Wed Aug 30, 2017 11:44 am

cyclops1000 wrote:
Sat Sep 26, 2020 10:39 am
Looking at building a bot but need a bit of direction
It would apply to markets that only have a choice of 2 selections in the match odds such as basketball , NFL , NRL etc
Looking at placing a bet on the favorite before the start on current odds (easy) and then placing another bet on the underdog at the same time using current odds but just enough to cover the liability on the first
For example match odds are 1.8 on the favorite and match odds on the underdog are 2.5
If the favorite wins then good but if the underdog loses then at least it can break even or make a small loss
Might only be small amounts of profit but nobody went broke taking the profit
Had plenty of good advise , suggestions and direction from members who know more than me for bots I've built in the past
Thanks in advance
If the favourite is 1.8 and the underdog is 2.5, that gives an overround of 95.6%. In such a case it would make sense to back both of them to return £100 and only stake £95.56 guaranteeing a profit, but in reality, the underdog would never be 2.5. Therefore, betting to return your stake on the favourite would leave you with a loss on the underdog, which as Dallas alluded to, is the same as a simple bet on the favourite.
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