Cross Matching - on or off?

[Blondie]

I have tried to get my head around this, and I probably do understand roughly what it is - moving money around to get bets matched in equivalent markets. Still sounds confusing but I get the general idea. My question is, is it generally best to leave it turned on, or turn it off?

My gut feeling is best to turn it off so I can see just the real money people actually placed there. But I have no real idea and maybe you get orders matched quicker with it turned on?

Would like to hear any opinions.

[Euler]

On small fields it can be quite interesting to turn it off, but less so on large field events.

[Blondie]

Thanks but not sure how to take that!
"Interesting" as in 'holy s**t'!
Or 'interesting' as in useful in some way?
Was just wondering what the general consensus was among BA users, I assumed it would be fairly strong lean one way or the other

[ShaunWhite]

Depends what you're doing. You might want to see the odds people are actually offering on a selection rather than the virtual offers derived from offers elsewhere.

[Blondie]

Well yeah, that's kinda what I'm asking. I am not sure why I 'might want' to see x, y or z. Was hoping for some insight into the benefits/dangers of either option, or at least a rough idea of what regular traders in here prefer, ideally with a few reasons why so I can learn what the impact of this weird algorithm is on trading!

[ShaunWhite]

With it you'll get matched easier, without it you can sometimes more accurately read the true market depth.

Depends what you'll benefit from the most.

[Anbell]

But I have no real idea and maybe you get orders matched quicker with it turned on?

It doesnt impact getting matched, only what you can see.

(Edit: I've just seen Sean's post, which is contrary to what I thought)

[Kai]

Yeah, real money jumps the queue

Can range from useful to annoying depending on sport and strategy

[Blondie]

Yeah, real money jumps the queue

Can range from useful to annoying depending on sport and strategy

My confusion grows!

"Real money jumps the queue" - I was led to believe it's all real money, but some is from a bet that may have been placed elsewhere (but corresponds to this one). Jumps the queue - ??

Ok well if i have to just take a choice, I am gonna choose to turn it off. For better or worse, seems 'purer' to me to only see what humans put in the ladders. thanks

[Blondie]

Has Peter Webb ever stated whether he has it turned on or off?

[Michael5482]

Why not open two instances of Bet Angel and open the same market one with X-Matching On with the other without X-Matching and put them side by side.

[Blondie]

For what purpose? To see the difference? I can do that all day but turning it off and on, which I've been doing. It doesn't help me at all with understanding how it impacts pre race trading. It could spend months testing long periods with it on or off, but while learning strategies and how the markets work generally etc etc, it's overload. So I was just hoping to find some opinions that would help me make a choice for now. If other PR traders TEND to have it on or off, I am happy to just follow that for now, why re-invent the wheel (even if I was able to!)

[jamesedwards]

Yeah, real money jumps the queue

Can range from useful to annoying depending on sport and strategy

My confusion grows!

"Real money jumps the queue" - I was led to believe it's all real money, but some is from a bet that may have been placed elsewhere (but corresponds to this one). Jumps the queue - ??

Ok well if i have to just take a choice, I am gonna choose to turn it off. For better or worse, seems 'purer' to me to only see what humans put in the ladders. thanks

It's real money, but it's artificially creating a better position on a selection using real money positions on other selections.

Probably easiest to understand using a two-horse race, eg if you are betting on a coin toss;

With XM switched off a market might show:
Heads 1.98 2.02
Tails 1.96 2.04

With XM switched on, in this specific situation it would use the money/prices available on heads to "create" better prices on tails:
Heads 1.98 2.02 ("real" money)
Tails 1.98 2.02 (using money available on heads to generate an artificial position on tails).

It can do this because laying tails at 2.02 is the same as backing heads at 1.98. And backing tails at 1.98 is the same as laying heads at 2.02.

But if you were to then put up a lay position on tails at 1.98 then it would push straight to the front of the queue and sit ahead of the existing 1.98 cross-matched money.

[Blondie]

Thanks for that.
So let's say I had XM turned off, and wanted to back Tails @ 1.98. There is no money showing on the ladder when i place the bet, so it wont get matched. But if I turn XM on, I would get matched? Is that true, or is it just that I wouldn't SEE those 'virtual bets', but WOULD get matched just the same (which would be a nice surprise as I didnt see any money available there). ??
I feel like I'm going mad, maybe I am

Also, given that nice explanation, would it be correct to say that these bets are not 'virtual' at all (a bad choice of word) as they are not unreal, they are very real, it's just that it's money someone actually placed on another ladder/market but it's every bit as real as any 'non virtual' bets?

[jamesedwards]

So let's say I had XM turned off, and wanted to back Tails @ 1.98. There is no money showing on the ladder when i place the bet, so it wont get matched. But if I turn XM on, I would get matched? Is that true, or is it just that I wouldn't SEE those 'virtual bets', but WOULD get matched just the same (which would be a nice surprise as I didnt see any money available there). ??

My understanding is that you would still get matched even if switched off, as switching XM on/off in Bet Angel will only affect what you can see, not what is there. But I'm no expert and it seems Shaun thinks differently.

Also, given that nice explanation, would it be correct to say that these bets are not 'virtual' at all (a bad choice of word) as they are not unreal, they are very real, it's just that it's money someone actually placed on another ladder/market but it's every bit as real as any 'non virtual' bets?

Definitely not virtual, it's money that can absolutely be taken. But it can make it look like more money exists than actually does. eg if there is £100 "real" money available to back heads @ 1.98, and £100 XM money available to lay tails @ 2.02 then there is only £100 total available to take, not £100 + £100.