23.11.10 - Cross matching trial - Inplay today @ Lingfield

[Bet Angel]

Betfair just announced this morning: -

Following a previous trial earlier this year, we are now running another trial of in-play cross-selection matching (‘cross-matching’) on the win markets at Lingfield Park on Tuesday 23rd November. Cross-matching will only be activated after the markets are turned in-play.

If successful, cross-matching will be turned on for all in-play win markets on British and Irish horseracing from November 24th onwards.

Cross-matching was introduced on most sports during 2008 and has had a significant, positive impact on liquidity. It has meant that a customer’s bet is more likely to be matched than would have been the case without cross-matching. When a bet request cannot be matched by an opposing bet on the same selection, cross-matching will attempt to match the bet request with unmatched liquidity on the remaining selections in the market. Cross-matching incorporates ‘best execution’ meaning that whenever the bet matching algorithm can match a bet request at a better price than requested, it will do so, resulting in the customer making the bet request getting the best possible price.

We don’t expect customers to notice any material difference in the way the win markets operate at Lingfield Park.

[andyfuller]

Will be interesting to see how they deal with a late withdrawal where they don't have time to remove it from the market.

[Euler]

When I last asked they said they would just void all bets. Which sort of suggests you are on your own inplay. Maybe I didn't understand the response or it's context. Will be interested to hear from people what they see. I don't do much inplay.

[LeTiss]

I'm a little confused as to when Betfair uses this.

I was under the impresson that Tennis had cross matching at all times, but last night there were many occasions during the point where the lay side of the Nadal v Roddick book had figures 104-105%

[PeterLe]

Hi
I'll be monitoring this very closely today too...

Lingfield isnt normally a track Include anymore. Over 382 races, I had a net loss of 0.18p...But reinstated it just for today (smaller stakes)...

Because there are only seven races, it will not really tell us a lot...but it will be interesting..

Incidentally, I thought about recording the screen too, but it tends to slow the VPS down...is anyone recording the price movement in play today??

Thanks
Peter

[PeterLe]

First race went well!

Think I could get used to Cross matching!
...we'll see how the others go...

[Euler]

Can't see the attachement, for some reason when you post tiff files I can't see them.

[PeterLe]

Sorry; here is a jpeg version..

Think that first one may have been lucky. The second race; I didnt place any bets as the money seemed to stay on the fav from start to finish...

I'll post a summary at the end of the day...
regards
Peter

PS Is anyone monitoring the over round?

[mugsgame]

Peter, the overround is dead.

But as they say when one door closes another always opens

[gutuami]

today there were 2 losers trading at 1.01 ..

[freddy]

Well it early days yet, but this can only be seen a s a good thing imo.

[Euler]

Following completion of the trial yesterday cross-matching will now be turned on for all in-play win markets on British, Irish and Meydan Thoroughbred horseracing from November 24th.

[PeterLe]

Morning

I thought I'd let you know how I got yesterday.
I traded all of the XM in play at Lingfield yesterday. Under normal circumstances, I would have expected this track to be net zero or there abouts.(However, with such a low sample rate it wasn't likely to tell me much)...

I returned a nice profit overall, but when I delved down down deeper it became apparent that the P&L was mainly due to two races. I then set about trying to determine whether the XM was responsible for the result.

I found the following video (and I hope Gary Russel wont mind me showing the link):-

http://www.other software-software.co.uk/videos/ ... 01250.html

This shows the XM in operation and is easily seen by the colour changes.

..anyway in summary: Having watched the videos and comparing with the BA logfile, I concluded that XM didnt have a significant effect on the trading and the positive P&L was def not linked to XM.

I see they have decided to go with this as from today...so time will tell!

Good luck, Would be very interested in hearing of anyone else going trading in play ...

Thanks
Peter

Edit : The boxes that flash yellow indicate that XM was responsible (this could be either odds and/or money available at those odds)

[sweetybt]

I have been away a couple of days.

Are we XM today? IP markets feel a bit slow to me. As if I am seeing things 200ms slower than normal.

Anyone noticed anything else?

[sweetybt]

WOW this is very different.

Not sure how or why but this has really changed things.


Gonna have to move with the times I guess.