Hi all,
I set a BOT up to Lay a horse just before the off at 15 ticks below current price then a second row in the BOT to take SP.
My initial Lay has gone in at 4.6 for £10, which has then had persistence change to 'Take SP' - all as expected.
However, when i've seen the Matched Bets and after a late drift, only £6.92 was matches at an SP of 6.2. My stake is a fixed amount (not Liability) and therefore i'd expect the bet to match at SP for £10, not with any adjustment.
Logs and images below to hopefully help.
Thanks
Different Stake at SP value to what was set in Logs
i've had a further example and believe I understand what's happening here. Will use the example above where:
Bet struck @ 4.6 for £10
Liability £36
BSP = 6.2
My theory is that when converted to 'Take SP', it's the liability which persists, not the stake.
So using the example when BSP = 6.2
Stake = £6.92
Liability / (BSP - 1) = Stake
£36 / (6.2-1) = Stake
£36 / 5.2 = £6.92
Can anyone confirm my theory?
Bet struck @ 4.6 for £10
Liability £36
BSP = 6.2
My theory is that when converted to 'Take SP', it's the liability which persists, not the stake.
So using the example when BSP = 6.2
Stake = £6.92
Liability / (BSP - 1) = Stake
£36 / (6.2-1) = Stake
£36 / 5.2 = £6.92
Can anyone confirm my theory?
Correct, when you place a lay SP bet, or mark a lay bet as Take SP, betfair fix the liability of the original bet and adjust the stakes at the time SP is declared so that the liability remains the same. They do this so that the exposure of the bet remains the same from the moment that you place it, so that they can be sure to reserve the correct amount from your balance and ensure you can afford the bet.