Take SP

[Nero Tulip]

Can someone advise me on exactly how this works? I'm seeking a solution where I can place bets via spreadsheet that will be guaranteed to be on at SP.

Is the only way to do this, to post something wide of the mark, then change it to take SP ? Does this guarantee that I get on ? Or is this only if the SP is longer odds than my original bet ?

Example -

Price is currently 4.9.

I post 6.0.

Change it to Take SP.

SP at the off is 5.3.

- Is my bet matched at 5.3 ? Or only if SP is 6 or above ? And if SP was 7.2, is my bet 7.2, or is it 6.0 ?

[andyfuller]

- Is my bet matched at 5.3 ? Or only if SP is 6 or above ? And if SP was 7.2, is my bet 7.2, or is it 6.0 ?

1. Matched at 5.3

2. 7.2 (assuming that the market didn't match your bet pre race start)

You have set your bet to take SP so you get matched at SP - Simples

[Nero Tulip]

Lovely, thanks Andy!

[andyfuller]

I recommend you still spend a little time reading through the explanation and Terms and Conditions on the Betfair website so you fully understand it and how it all works though.

For example, have you considered what happens if Betfair are late turning a market inplay and your Take SP bet is matched during this time so by the time the race starts your bet has already been matched even though it was a furlong into the race....

[andyfuller]

Or what happens to your bet if Betfair miss turning a race inplay and the horse you were trading was at 3.2 at the off but misses the break and your Take SP bet at 7.2 gets matched a second into the race (still a pre race market remember due to Betfair's error) and Betfair manually reconcile the SP to 3.2.....

[Nero Tulip]

Worthwhile points Andy, I think those are risks worth taking though given the degree to which my pre off bets are below SP on a consistent basis, how often do you think these things happen ? And do you see any situations where the SP odds would be positively impacted by management error ?

[andyfuller]

Worthwhile points Andy, I think those are risks worth taking though given the degree to which my pre off bets are below SP on a consistent basis, how often do you think these things happen ?

Wouldn't have a clue but not very often I would think.

And do you see any situations where the SP odds would be positively impacted by management error ?

Only way I can think is that the SP is actually settled a little into the race so when a horse breaks badly you often get a higher SP and if it were to then go on and win you could be nicely rewarded.

Other than that and the Grand National case (google Betfair SP Grand National) I can't think of any.

[Zenyatta]

Bear in mind, an SP lay bet gives a fixed liability. That means for an initial back bet where the offset lay bet is changed to Take SP, you get a fixed profit if the selection wins, but if the selection loses you could lose a variable amount depending on the final SP (if you place an offset bet pre-race and the price doesn't go all the way down to what you are shooting for, the 'remainder' will be exposed In-Play, equivalent to placing a smaller punt).

[andyfuller]

And do you see any situations where the SP odds would be positively impacted by management error ?

False start to the 16.50 made me remember another.

IF your horse was in a poor position at the start of the false start the SP could be returned better than what you would perhaps expect, or what you would have got had the SP been reconciled on the actual start where your horse is now in a great starting position.

Think with all of these things you just need to keep them in mind and be aware of them and plan/expect them at some stage, both the good and the bad.

[Zenyatta]

If the horse is a front runner just Back with TAKE SP with lay offset 5 seconds before the start - a few seconds into the race your horse will usually have bounced out of the barrier close to the lead and you will immediately get a Green on the 'SP'.