What's the best way to green up a market position using Betfair SP?

[jamesedwards]

Obviously you don't know what SP will be before it is set. So what's the best way to green up a market position using SP to spread a green position as equally as possible across all selections?

[Euler]

I do it just after the market's gone in play and the market stabilised. The way I know the market is stabilised is from the book percentage. When it first goes in play, it could be 80%, 85%, or whatever, but it soon begins to settle down to something a bit closer to 100%.

[ShaunWhite]

Obviously you don't know what SP will be before it is set. So what's the best way to green up a market position using SP to spread a green position as equally as possible across all selections?

SP will at some point be close to the last mid price.

From the scheduled off, continually amend (or cancel/replace) a take sp bet (at 1000 or 1.01) that's staked as if SP will be the current mid. When the flag drops you'll have your SP hedge although it'll never be quite perfect, on average it's good enough.

Don't refresh it too often or for very small stake changes, or you'll blow up your transaction limit. It will also work if you have additional matches as your periodic amendment will be based on your current exposure. So your check for abs(current sp stake - required sp stake) would exceed your replacement threshold and trigger your amendment.

It works, done it for years. You'll get a few that's a bit off in thin markets where sp isn't especially close to last mid but they average out.

[jamesedwards]

I do it just after the market's gone in play and the market stabilised. The way I know the market is stabilised is from the book percentage. When it first goes in play, it could be 80%, 85%, or whatever, but it soon begins to settle down to something a bit closer to 100%.

Sorry, I should have said; it's greyhounds so no in-play.

[jamesedwards]

Obviously you don't know what SP will be before it is set. So what's the best way to green up a market position using SP to spread a green position as equally as possible across all selections?

SP will at some point be close to the last mid price.

From the scheduled off, continually amend (or cancel/replace) a take sp bet (at 1000 or 1.01) that's staked as if SP will be the current mid. When the flag drops you'll have your SP hedge although it'll never be quite perfect, on average it's good enough.

Don't refresh it too often or for very small stake changes, or you'll blow up your transaction limit. It will also work if you have additional matches as your periodic amendment will be based on your current exposure. So your check for abs(current sp stake - required sp stake) would exceed your replacement threshold and trigger your amendment.

It works, done it for years. You'll get a few that's a bit off in thin markets where sp isn't especially close to last mid but they average out.

Thanks, will give this a whirl.