Newbie settings

[greg.d]

Hi All,

I've recently started using the software and I just have a question about bet placement.
I've only just noticed that if I place a back bet on a horse, for example at 2 when it's currently trading at say 3.6, it get matched at something like 3.3.
Is this a setting that I might have changed within Betangel, a limitation to Betfair bet placement or something else?

Thanks in advance,
Greg

[Derek27]

Hi All,

I've recently started using the software and I just have a question about bet placement.
I've only just noticed that if I place a back bet on a horse, for example at 2 when it's currently trading at say 3.6, it get matched at something like 3.3.
Is this a setting that I might have changed within Betangel, a limitation to Betfair bet placement or something else?

Thanks in advance,
Greg

"A limitation to Betfair bet placement" is the closest of those options, but it's not really a limitation. You would have to be completely bonkers to pay £5 for a tin of baked beans when the shop only charges 50p, and likewise, there's no reason why anyone would want to back a horse at 2.0 when it's available at 3.2. For a £10 bet you would stand to win an extra £13 for the same stake.

[greg.d]

True, but I wanted to experiment with backing the runner at a much lower price with the thought that if the price contracts because the horse is winning then it would hopefully get matched. That could be total nonsense of course though

[Derek27]

True, but I wanted to experiment with backing the runner at a much lower price with the thought that if the price contracts because the horse is winning then it would hopefully get matched. That could be total nonsense of course though

If the price contracts from 2.0 to 1.6, you're far better off backing it at 3.3 and laying it at 1.6. You'd make more profit than backing it at 2.0 and laying at 1.6.

On the other hand, if you only want to back it if the price drops to 2.0 in-running, you can use BA automation to do that. You'd just need a rule to place a bet with a condition that the price is <=2.0, or whatever price you choose. But you cannot possibly back at a chosen price when a higher price is on offer. It's part of the Betfair algorithm, but it can only mean extra money for you if the bet wins.

[jamesedwards]

Hi All,

I've recently started using the software and I just have a question about bet placement.
I've only just noticed that if I place a back bet on a horse, for example at 2 when it's currently trading at say 3.6, it get matched at something like 3.3.
Is this a setting that I might have changed within Betangel, a limitation to Betfair bet placement or something else?

Thanks in advance,
Greg

Just in case you don't understand this already; if you place a back bet at lower than existing available odds then Betfair will automatically match your bet at the prevailing odds. Same for the reverse if you try to lay for higher than prevailing odds.

If you want to only place a back bet when the odds get down to 2.0 then you need to program Bet Angel to place the bet once it reaches a set price. But be aware you might not get matched at all if the price continues to move below 2.0. This is especially likely if you are betting in-running when odds move much faster and there is a 1 second mandatory bet delay between request and placement into the market.

[Dallas]

Hi All,

I've recently started using the software and I just have a question about bet placement.
I've only just noticed that if I place a back bet on a horse, for example at 2 when it's currently trading at say 3.6, it get matched at something like 3.3.
Is this a setting that I might have changed within Betangel, a limitation to Betfair bet placement or something else?

Thanks in advance,
Greg

Just in case you don't understand this already; if you place a back bet at lower than existing available odds then Betfair will automatically match your bet at the prevailing odds. Same for the reverse if you try to lay for higher than prevailing odds.

If you want to only place a back bet when the odds get down to 2.0 then you need to program Bet Angel to place the bet once it reaches a set price. But be aware you might not get matched at all if the price continues to move below 2.0. This is especially likely if you are betting in-running when odds move much faster and there is a 1 second mandatory bet delay between request and placement into the market.

In addition to what James has said there is a ready-made servant you can download and import into your Bet Angel that will do this for you
viewtopic.php?t=16235

Or you can use a fully automated file
viewtopic.php?t=11414

[greg.d]

Thanks all. Good to know.