New Posts For Thread: Back below current price (very newbie question)https://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-questionHi,Imagine that I want to back a soccer team in a certain match. The current price is 3.00, but I don't want to place my bet until the price has fallen down to 1.09, for example, even if I get just a few cents in return.- I could wait until the teamOh, I get it now, it's laying instead of backing... thanks very much!https://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516373557#516373557Oh, I get it now, it's laying instead of backing... thanks very much!Wed, 15 Feb 2012 05:49:03 -0600Sorry, you said unders, in which case the true price was around 6.0 in the example above and they were asking for 1.09, extreme value if matched.https://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516362009#516362009Sorry, you said unders, in which case the true price was around 6.0 in the example above and they were asking for 1.09, extreme value if matched.Tue, 14 Feb 2012 19:34:35 -0600They were bets placed by punters laying the market, i.e. they had laid at 1.01, 1.02 etc and were waiting for someone to back their offers. The true price may have been around (say) 1.2 in which case they were asking for less in the hope of getting mhttps://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516361881#516361881They were bets placed by punters laying the market, i.e. they had laid at 1.01, 1.02 etc and were waiting for someone to back their offers. The true price may have been around (say) 1.2 in which case they were asking for less in the hope of getting mTue, 14 Feb 2012 19:30:42 -0600Yes you can do it Manuito, using triggered betting on BetAngel, I'm not sure what other software has that ability. You can't do it using the website because you'll get best execution.https://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516361709#516361709Yes you can do it Manuito, using triggered betting on BetAngel, I'm not sure what other software has that ability. You can't do it using the website because you'll get best execution.Tue, 14 Feb 2012 19:25:16 -0600Well, to be honest, I'm not sure why I would do that... I'm just trying to understand how the market works (very newbie here, just started) and today I saw that for a match that was 1-0 at half time, there were a few unmatched bets (or that's what Ihttps://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516361681#516361681Well, to be honest, I'm not sure why I would do that... I'm just trying to understand how the market works (very newbie here, just started) and today I saw that for a match that was 1-0 at half time, there were a few unmatched bets (or that's what ITue, 14 Feb 2012 19:24:32 -0600Yeah, I guess the only way you could do it is set it to back only if the lay price is 1.10 and the back is 1.09, I'm guessing that software would be able to do this but it would be very risky....that 1.10 to lay might be an error.https://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516360751#516360751Yeah, I guess the only way you could do it is set it to back only if the lay price is 1.10 and the back is 1.09, I'm guessing that software would be able to do this but it would be very risky....that 1.10 to lay might be an error.Tue, 14 Feb 2012 18:54:22 -0600Why would you want to do that?How can you be sure that when the price offered is 1.09, that the true price isnt far higher? There may be a spread of 1.09 - 2 between the back/lay the second that a market is reopened or for a low volume match.You seemhttps://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516360427#516360427Why would you want to do that?How can you be sure that when the price offered is 1.09, that the true price isnt far higher? There may be a spread of 1.09 - 2 between the back/lay the second that a market is reopened or for a low volume match.You seemTue, 14 Feb 2012 18:42:49 -0600Hi,Imagine that I want to back a soccer team in a certain match. The current price is 3.00, but I don't want to place my bet until the price has fallen down to 1.09, for example, even if I get just a few cents in return.- I could wait until the teamhttps://community.betfair.com/general_betting/go/thread/view/94082/28919691/back-below-current-price-very-newbie-question?post_id=516360197#516360197Hi,Imagine that I want to back a soccer team in a certain match. The current price is 3.00, but I don't want to place my bet until the price has fallen down to 1.09, for example, even if I get just a few cents in return.- I could wait until the teamTue, 14 Feb 2012 18:35:15 -0600