Lay bets in LTD

[Airzixai]

If for example I lay the draw pre-match with odds like 7,6,5,4,3,2.5,2 and keep. What happens if there is an early goal, say after the 7 has been matched but then later and equalizer is scored that brings the
odds back down to 2.0. What happens to the waiting orders in the middle. I am concerned that I'll get matched at those odds late in the game. I believe they can be seen by others as waiting back bets and people would be happy to back the draw at 6.0 with twenty minutes left.
My assumption was that those waiting orders would just remain, just that, waiting.
Clarification would be appreciated on this matter.

[Dallas]

When laying you can't have a unmatched bet at a higher price than the current best lay price, and as the price shortens either steadily or by jumping several ticks at a time it will matched the waiting lay bets as it does

Same goes for back bets but in reverse, ie, you have a unmatched back bet at a lower price than the current best back price and as it drifts it will match bets waiting back bet as it moves up through the prices

[Airzixai]

When laying you can't have a unmatched bet at a higher price than the current best lay price, and as the price shortens either steadily or by jumping several ticks at a time it will matched the waiting lay bets as it does

I understand that however because the odds would have jumped say above 10 after a goal had gone in, my waiting orders at 5, 4, 3 etc would still be there. When and if there is an equalizer scored the
odds will jump below all those waiting orders. So are you saying even though the odds will fall very fast, that my waiting orders will then be matched? I could be in a scenario where I get matched at 1-1 with ten minutes to go laying the draw at 6.0 5.0 etc. Not good

[Dallas]

When laying you can't have a unmatched bet at a higher price than the current best lay price, and as the price shortens either steadily or by jumping several ticks at a time it will matched the waiting lay bets as it does

I understand that however because the odds would have jumped say above 10 after a goal had gone in, my waiting orders at 5, 4, 3 etc would still be there. When and if there is an equalizer scored the
odds will jump below all those waiting orders. So are you saying even though the odds will fall very fast, that my waiting orders will then be matched? I could be in a scenario where I get matched at 1-1 with ten minutes to go laying the draw at 6.0 5.0 etc. Not good

It doesn't matter how far a price jumps, the draw price could be trading at 100.0 and an injury time goal is scored and they can drop to 1.05, any lay bets between 1.06 and 100.00 that have not been cancelled will get matched.

It can't trade at 1.05 with any waiting lay bet still waiting above it, that's just how the exchange works.

Or in another example if trading an in-running horse race if a horse falls it doesn't matter what price is was trading at just before it fell, within a fraction of a second every back bet waiting that wasn't cancelled in those milliseconds will be matched as the price will immediately shoot out to 1000.0 when its no longer able to win as everyone piles in on the lay side

[Airzixai]

Thanks for clearing that up. Is there a pre-made automation you could point me towards that would cancel all unmatched bets after a goal is scored?

[Dallas]

Thanks for clearing that up. Is there a pre-made automation you could point me towards that would cancel all unmatched bets after a goal is scored?

In most cases they are cancelled by Betfair when they suspended a market following a goal, but just to be sure you can add a 'Cancel unmatched bets' on selection (price dependant)' rule
with a 'Time since unsuspended' Condition is equal to 1 second

That would ensure they were out before new bets placed after being unsuspended reached the market