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never had any probs with courtsiders etc. that is a fair thing you have to consider
beeing ripped off by Betfair has hurt my feelings! |
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up against someone who sees your bets the instant u place em, your trading history and also holds your money is altogether something else alright
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it's rather depressing to think that NOTHING good can come from this.
1. It's not betfair who are responsible for this. Therefore the clock can be beaten and the pending bets queue is visible. 2. Betfair intended to implement this with best execution but screwed the implementation up. However they didn't think it was important to inform their users of a fundamental change to their matching algorithms. But we had all the guff about the "New Betfair SP" rammed down our throats. 3. Betfair intened to implement this without best execution. and not tell anyone. Oh dear. 4. We're all imagining it. delete your cookies. I've wasted time worrying about it and posting on this thread. |
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I don't think they can keep something like this in operation for long.
What amazes me is they had the nerve to implement this in the first place. Tells the story better then your granddad ever could. Also about the role and effectiveness of the GC. Can't see how they can get out of this mess easily. Probably best for them to kill the monster and deny everything. |
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This system of matching bets was definitely happening on the football last night. At the moment it seems that it is occurring when the requested price creates an overround or underround on the appropriate side of the market AND there isnt enough money in one part of the market to be matched totally.
Will the next stage in Betfairs thinking be Why dont we do this even if there is enough money in the market to be matched totally but we can match the other parts of the market to make ourselves a bit of profit.? |
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I'm expecting to see adverts proclaiming "No Matching Engine" within 10 days or so.
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Well if they implement it on horse racing markets with a reduction factor they are going to have a nasty shock when there is a non-runner that everyone knows about but them.
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They'll just void it.
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They will have to change it. The in running markets are populated by manual players that are fairly mobile. Why operate in a market with a huge leak when there is one without?
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It wasn't happening on the cricket from Australia earlier in the week. Not implemented on Aussie wallet markets yet?
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Vim: This system of matching bets was definitely happening on the football last night. At the moment it seems that it is occurring when the requested price creates an overround or underround on the appropriate side of the market AND there isnt enough money in one part of the market to be matched totally.
Can someone just confirm. When this condition is met (above), then you only get the price you asked for, even if better money is available (ie, not best execution). Is that what was happening? (apologies - but I got confused reading the 500 messages). |
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I notice that its only working when the lay side is above 100% i.e. when they can make money. If this was truly about matching bets they would match anytime the lay % was exactly 100%.
In this davydenko match then there was money trying to back 2.3 davydenko and money trying to back 1.77 Lopez. A pure 100% book. Why werent these bets matched against each other? Because there was no profit in it for Betfair thats why. |
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I notice that its only working when the lay side is above 100% i.e. when they can make money. If this was truly about matching bets they would match anytime the lay % was exactly 100%.
In this davydenko match then there was money trying to back 2.3 davydenko and money trying to back 1.77 Lopez. A pure 100% book. Why werent these bets matched against each other? Because there was no profit in it for Betfair thats why. |
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Actually, if they have decided to ditch the order of bets and settle those in the bet queue which can be settled without a five second delay (ie. suiting themselves and generating a profit), this requires a proper investigation.
Oh for a Gambling Commission that knew anything about gambling... I'm beginning to think the Australian authorities had a valid point. |
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When this condition is met (above), then you only get the price you asked for, even if better money is available (ie, not best execution).
That is correct |
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Are you 100% sure of that? If so, SH!T
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Betfairy, come on man. That's exactly the point.
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Yes - if there is no money waiting down (or up for lays) to the price requested then you will be matched at the price requested. Obviously if there is some money waiting you will match that first (which may be better that your requested level but the rest will be matched at the requested level.
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numerous examples on this thread, 100% of them matched at price requested not best price
and instantly |
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So that's two "yesses", and one "no" (form Vim).
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Obviously if there is some money waiting you will match that first
Well, that IS best execution. Eat up all the money on the runner first, then match the remaining overround with the other runners. |
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As people have mentioned, this means that big money**-ups are always going to be punished.
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(at your selected price).
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Vim is talking about markets where there's no overround - 'normal' conditions apply, for now
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Robin Ewe 07 Mar 12:11
I notice that its only working when the lay side is above 100% i.e. when they can make money. If this was truly about matching bets they would match anytime the lay % was exactly 100%. In this davydenko match then there was money trying to back 2.3 davydenko and money trying to back 1.77 Lopez. A pure 100% book. Why werent these bets matched against each other? Because there was no profit in it for Betfair thats why. Can this thing get ANY worse ??? |
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if this is true, then i cant see how they can be allowed todo this being an exchange.
One of their strong points in the past was that you would always be matched at best possible price regardless of the price you asked for. Maybe its time for a switch to**!! |
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As people have mentioned, this means that big money ****-ups are always going to be punished.
But only if there's money waiting on the other runners. |
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If this is true I think this raises fundamental questions about how Betfair sees itself as a company. I previously had a rose-tinted view that they were mere facilitators who in spite of commission were essentially neutral.
Now I see another high street bookmaker. |
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when was the last time someone submitted a bet in error and got away with it?
you used be able to scream fc uk, fc uk, have your fingers crossed and pray got away with it sometimes not anymore |
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maybe its time to switch to another exchange!
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Vim is talking about markets where there's no overround - 'normal' conditions apply, for now
Sorry marcus, but that comment has just confused me more. |
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I'd be very surprised if they introduced it into aussie markets Vim and risked falling foul of aussie legislation,even if their citizens aren't allowed to bet in running.I was informed by phone call that I can longer place bets that come under the aussie wallet on more than one account,just in case it could be construed as a money laundering exercise
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Betfairy:
Player A: 1.42 1.55 Player B: 3.1 11 I submitted a lay of A @ 1.43 half a second before a lay of B @ 4 on separate accounts. The 1.43 appeared for half a second before being matched by my lay of B. The returned prices were 1.43 and 4 so NOT best execution. |
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Software users will find it harder to switch
explains why some on here are not acknowledging an issue. |
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betfair, in case u missed it
the man marcus 06 Mar 19:37 pasta_rogue Had a back lined up the other day for a player, his price was 1.13/1.14, my request was for 1.10 of which there was no-one laying at that price he lost the point but i released in error during the refresh they money laying at 1.13/1.14 was jumped ahead by 1.15/1.16 - and plenty of it too i got matched at 1.10 this to me indicates that all money laying was taken down, despite him losing the point, with a fresh lay of 1.10 going into the market - which frankly i know didn't happen there was no 1.10 before submission of my bet, during submission of my and after submission of my bet i've put a call out on the tennis forum to see if everyone can come forward and lay claim to matching me, i doubt anyone will |
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Provided there is enough money to offset on the other selection then yes you will be matched at the price you ask for.
Imagine theres a 2 outcome event: team a: 1.63/1.64 team b 2.58/2.6 If you try and lay 2.6 for 500 but mistakenly input to lay 500 at 26, then provided there is enough money there at 1.63 then your bet will be matched in full at 26 even if there is nobody asking to back that price . It is no longer dependent on someone having money in the system to match you. it will automatically be matched by Betfair if it creates an overround. |
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Thanks marcus - but that's not what Vim just said. He just said that the money WOULD be matched. Are there any other examples. Can it, perhaps, be a mistake - Easy to do in fast moving markets?
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Robin, but if I put in a back @ 1.55 on Runner A, I would get the 1.63 money first, then the remainder matched against the other runner (overround)?
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there's new invisible money in the market and it's betfairs
laying in wait for a fcuk up |
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Trap bettor extraordinaire.
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