Betangel conundrum

[harvard16]

Had an interesting experience today trading the 1450 at Ayr, which I'm hoping someone can assist with understanding. I went in running all green with £132 on Mango Music and £ 27 on the rest of the field.
I was looking for Mango Music to win or at least an opportunity to green up for more if Mango Music shortened up well in running, it was a mad dash 5f and I thought the worst I could do is £27, Mango Music did indeed shorten but near the end of the race shot out, so I thought I would green up for what I could get, no sooner had I pressed the green up button, and Mango music turned red and in the blink of an eye was heading for 1.01 and I was out 254 quid I had left no active orders in the market at the off, I was like WTF, what happened there, how can an all green situation go red.

I'm not grumbling here because I know in this game some crazy shit can happen, but a bit perplexed as to how it happened???

[andyfuller]

Sounds like you some how end up laying the horse for a large amount at highish odds -have a look in your account on the BF website at the bets placed on the race and all should be revealed - if you aren't sure pop them up on here and I am sure it can be figured out. I had this or something like it happen a long time ago and it was because of using the green up button which can cause issues in fast moving markets as between you pressing the button and the orders hitting the market the market can shift massively - one instance I had of it was using it when a race went inplay pre keep bet days and I ended up backing at 1.01 as they came out of the gates - think that was the last time I ever used it to exit positions, I now always use the green column on the ladder as then you pick your price rather than what is on offer when the orders hit the market.

[LeTiss]

That's a terrible mistake I'm afraid - I did the same a few years back

The prices change so quick, you've momentarily layed a massive price when a gap appeared

You should have set up a manual trade before the race & kept it in play

[harvard16]

Thanks guys , what you are saying is true, the horse was layed at a high price, that I got.
What I'm now trying to understand is the mechanics of how that lay bet was placed given that the greening column could only fluctuate between green 27 -132. ie not in and out of red. It is my understanding that on greening up which at the time was around 32 quid, betangel registers the lay price at that time calculates the stake based on that price to green up and places the bet at that price, it seems here that the stake has been calculated at a lower odds and then fired into the market at a higher price giving the 381 liability, given the market was extremely volitile at the time. Perhaps the Peter and the chaps at BA can shed some light on the logic.
Don't get me wrong this is not jib at betangel software, I think it is a great tool, but do want to understand it's limitations for the future. below is a transcript of the bets placed.

Selection Odds Stake(£) Bid type Placed Profit/loss(£)
MangoM 4.40 500.00 Back 16-Sep-10 14:43 1,700.00
MangoM 4.80 500.00 Back 16-Sep-10 14:47 1,901.79
MangoM 19.30 20.87 Lay 16-Sep-10 14:53 -381.97
MangoM 4.00 571.86 Lay 16-Sep-10 14:52 -1,713.08
MangoM 5.00 440.00 Lay 16-Sep-10 14:47 -1,760.00
Back subtotal: 3,601.79
Lay subtotal: -3,855.05
Market subtotal: -253.26
Commission : 0.00
Net Market Total: -253.26

I think in future I will do as you suggested leave a lower greening bet in play at the off for any excess, definately the way to go. Thanks for your help.

[LeTiss]

Your initial figures are correct, £128 profit for a MangoM win, £28 for any other

If you were laying a price of 19.3 'in play' the stake should have been just over £5, not £20

'In play' horse races are pretty volatile, especially 5f races where prices change dramatically in the blink of an eye

I'm fairly certain the price you were looking to green up with was roughly 4.00-4.50, hence the reason BA set a stake of £20
However, that price went within a split second and you agreed to red up at 19.3 without realising.
I agree with you though, that still shouldn't have set a figure of £20 at 19.3. Unfortunately, there might be some sort of human error there which is difficult to guess without having seen it

[CaerMyrddin]

The same thing happened to me once and since then I always green mannualy.