General Betting

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mitchell downie
19 Nov 09 11:58
Date Joined: 14 Jul 09
| Topic/replies: 4,933 | Blogger: mitchell downie's blog
Let's say I put a lay at SP for a liability of £1000 20 seconds before the off with no price restriction, just a lay that I want to be taken.

Now if I glance at the chart, I notice for example that there is £1000 in at 1.01 to back at SP, and £10,000 liability in at 1000.

If the price just before the off is for example 1.50/1.51 on the horse I want to lay, and there is more money in wanting to back the horse at 1.51 than there is in at 1.50 wanting to lay the horse when the race starts, how do I get my lay fully matched at Betfair SP, if for example the Betfair SP is 1.48.

There was more money to back the horse on the chart at 1.01 than there was liabilities at 1000, and the last price on the main market before the off was 1.50/1.51 so the backers on the normal market are not prepared to accept BF SP of 1.48.

So how does my lay SP bet get matched given the above circumstances. Just can't get my head round this one.

Many thanks
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Report mitchell downie November 19, 2009 12:03 PM GMT
This is the reply from Betfair before I posed the above question to them.

Thank you for your e-mail.

Whilst we cannot guarantee that SP bets will always be matched it is highly unlikely that an SP bet will be unmatched.

Unmatched SP bets would only happen if the price is 1.01 or 1000 at the off (the two extremes of our SP). If 1.01 were the final SP, then some backers might be unmatched. If 1000 were the final SP, then some layers will be unmatched. However, we expect this to be very rare.

I have included for you below a link to our website detailing the workings of Betfair SP:
Report McHaggis November 19, 2009 2:15 PM GMT
"If 1000 were the final SP, then some layers will be unmatched. However, we expect this to be very rare"

** it happens every day. too many people trying to get free money on laying 200/1 sp, shots, means that unless you are first in the queue putting up the 1000/1 there is a GOOD CHANCE it won't be matched.
Report mitchell downie November 19, 2009 2:54 PM GMT
This is the BF reply which I've just received.

The system shall progressively match into the exchange market until a price is found that balances the SP market, i.e., ensures that sum of all winnings if the selection wins and of all loses if the market selection loses = 0. Therefore unless there is a reconciliation, your SP bet will almost certainly be matched.
Please do not hesitate to contact us if you have any further enquiries.
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