General Betting
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08 Oct 09
11:20
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Date Joined:
10 Jan 02
Works like this.. In a 2 runner market if you offer 1.99 to back Betfair will offer 2.02 to lay the other selection, but it's better for all of us to back at 1.99 than lay at 2.02. For example if you bet £100 at 1.99 and it loses you lose £100 but if you lay the other selection for £99 (what you stood to win) at 2.02 you lose £100.98. The £0.98 goes into Betfair's pocket in addition to the commission they claim from the winning side. It's clearly better not to lose an extra £0.98 but when you have to bet quickly as you do in running you don't have time to work out which odds are best - the odds on the back side or the odds on the lay side you need to know without thinking which is the reason for this chart. The figures in the lay side are the exact inverse of the figures on the back side. So for example if Nadal is available to back at 1.95 and you can't lay at lower than 2.0526 (ie 2.04) you should back at the 1.95 rather than lay Murray at 2.06.
Col 1............Col 2
Back.............Lay
1.99 2.0101
1.98 2.0204
1.97 2.0309
1.96 2.0417
1.95 2.0526
1.94 2.0638
1.93 2.0753
1.92 2.0870
1.91 2.0989
1.9 2.1111
1.89 2.1236
1.88 2.1364
1.87 2.1494
1.86 2.1628
1.85 2.1765
1.84 2.1905
1.83 2.2048
1.82 2.2195
1.81 2.2346
1.8 2.2500
1.79 2.2658
1.78 2.2821
1.77 2.2987
1.76 2.3158
1.75 2.3333
1.74 2.3514
1.73 2.3699
1.72 2.3889
1.71 2.4085
1.7 2.4286
1.69 2.4493
1.68 2.4706
1.67 2.4925
1.66 2.5152
1.65 2.5385
1.64 2.5625
1.63 2.5873
1.62 2.6129
1.61 2.6393
1.6 2.6667
1.59 2.6949
1.58 2.7241
1.57 2.7544
1.56 2.7857
1.55 2.8182
1.54 2.8519
1.53 2.8868
1.52 2.9231
1.51 2.9608
1.5 3.0000
1.49 3.0408
1.48 3.0833
1.47 3.1277
1.46 3.1739
1.45 3.2222
1.44 3.2727
1.43 3.3256
1.42 3.3810
1.41 3.4390
1.4 3.5000
1.39 3.5641
1.38 3.6316
1.37 3.7027
1.36 3.7778
1.35 3.8571
1.34 3.9412
1.33 4.0303
1.32 4.1250
1.31 4.2258
1.3 4.3333
1.29 4.4483
1.28 4.5714
1.27 4.7037
1.26 4.8462
1.25 5.0000
1.24 5.1667
1.23 5.3478
1.22 5.5455
1.21 5.7619
1.2 6.0000
1.19 6.2632
1.18 6.5556
1.17 6.8824
1.16 7.2500
1.15 7.6667
1.14 8.1429
1.13 8.6923
1.12 9.3333
1.11 10.0909
1.1 11.0000
1.09 12.1111
1.08 13.5000
1.07 15.2857
1.06 17.6667
1.05 21.0000
1.04 26.0000
1.03 34.3333
1.02 51.0000
1.01 101.0000
Col 1............Col 2
Back.............Lay
1.99 2.0101
1.98 2.0204
1.97 2.0309
1.96 2.0417
1.95 2.0526
1.94 2.0638
1.93 2.0753
1.92 2.0870
1.91 2.0989
1.9 2.1111
1.89 2.1236
1.88 2.1364
1.87 2.1494
1.86 2.1628
1.85 2.1765
1.84 2.1905
1.83 2.2048
1.82 2.2195
1.81 2.2346
1.8 2.2500
1.79 2.2658
1.78 2.2821
1.77 2.2987
1.76 2.3158
1.75 2.3333
1.74 2.3514
1.73 2.3699
1.72 2.3889
1.71 2.4085
1.7 2.4286
1.69 2.4493
1.68 2.4706
1.67 2.4925
1.66 2.5152
1.65 2.5385
1.64 2.5625
1.63 2.5873
1.62 2.6129
1.61 2.6393
1.6 2.6667
1.59 2.6949
1.58 2.7241
1.57 2.7544
1.56 2.7857
1.55 2.8182
1.54 2.8519
1.53 2.8868
1.52 2.9231
1.51 2.9608
1.5 3.0000
1.49 3.0408
1.48 3.0833
1.47 3.1277
1.46 3.1739
1.45 3.2222
1.44 3.2727
1.43 3.3256
1.42 3.3810
1.41 3.4390
1.4 3.5000
1.39 3.5641
1.38 3.6316
1.37 3.7027
1.36 3.7778
1.35 3.8571
1.34 3.9412
1.33 4.0303
1.32 4.1250
1.31 4.2258
1.3 4.3333
1.29 4.4483
1.28 4.5714
1.27 4.7037
1.26 4.8462
1.25 5.0000
1.24 5.1667
1.23 5.3478
1.22 5.5455
1.21 5.7619
1.2 6.0000
1.19 6.2632
1.18 6.5556
1.17 6.8824
1.16 7.2500
1.15 7.6667
1.14 8.1429
1.13 8.6923
1.12 9.3333
1.11 10.0909
1.1 11.0000
1.09 12.1111
1.08 13.5000
1.07 15.2857
1.06 17.6667
1.05 21.0000
1.04 26.0000
1.03 34.3333
1.02 51.0000
1.01 101.0000
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Nice 1 Clyde - this'll be useful for my overs/unders bets on the footy.
:)
:)
Liquidity tends to be concentrated on the odds-on selection, so you might not get matched if you 'invert' and play the odds-against selection instead.
I noticed Betfair have some more sophisticated cross matching in place as well. I saw this in the Next Goal (football) market, but I would assume it applies to Match Odds as well, although it would only be noticeable if there was poor liquidity.
Let take the Croatia Qatar - Next Goal Market
These are the odds:
Croatia ; back 1.3 ; lay 1.54
Qatar ; back 5.5; lay 16
No Goal back 6; lay no offer
I put in a lay of no goal at 6.8
And it changes to:
Croatia ; back 1.32 ; lay 1.50
Qatar ; back 5.5; lay 12
No Goal back 6.8; 15
My money appears to back Croatia at 1.50 (appearing for another customer to lay).
Let take the Croatia Qatar - Next Goal Market
These are the odds:
Croatia ; back 1.3 ; lay 1.54
Qatar ; back 5.5; lay 16
No Goal back 6; lay no offer
I put in a lay of no goal at 6.8
And it changes to:
Croatia ; back 1.32 ; lay 1.50
Qatar ; back 5.5; lay 12
No Goal back 6.8; 15
My money appears to back Croatia at 1.50 (appearing for another customer to lay).
Sorry the other figures are different due to the odds changing, but the bold ones are relevant. It's definitely my money, because I tried putting in offers and canceling them many times, and the money disappears on both sides.
The cross matching is a nice little earner for Betfair, not as much as it was when it was first introduced but a nice little earner all the same. Thats a good conversion chart you have done Clydebank. I would love one for a 3 selection event but I think it may be a bit too complicated with too many variations.
1/(odds -1.0) =x
then x+1.0 innit.
I find it quicker to tap on a calculator than look on a chart. But when they cross match on a 3 runner market then I need to revert to excel.
then x+1.0 innit.
I find it quicker to tap on a calculator than look on a chart. But when they cross match on a 3 runner market then I need to revert to excel.
Thanks Alex but what is the formula for a 3 runner market?
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