after reading the posts and thinking back to my todays trading on Roddick Im 99% sure it happened to me, was looking for him to win the tb and was going to ask 1,75 at 5-5 points in an somewhat empty market on him as fav at this point if he wins next point, last refresh showed little bit - but far less than my bet - around 1,82, next available price around 1,62 if i remember correctly. now as hes goes *6-5 bet goes in - and was matched straight away. Thought to myself ' now how was that matched? but in the heat of trading gave no more attention to it.

boycee, everyone knows Betfair aren't actually matching the bets with their own cash as that'd involve risks. They're just matching it with someone else who has an opposing view and has left bets up on the exchange and taking the risk free cash in the process, oh and avoiding the delay. taking best offers away from other punters etc

This is the scenario I'm worried about boycee:

Two runner mkt

A 1.6 1.7
B 2.5 100

Plenty of liquidity @ 1.6 and 2.5

Mug lays B for 2 @ 100

Betfair obliges him and has the other side @ 1.6

I sense a few penny pinchers who hammer the site have had their nose put out of joint.

I see I have to stay and teach.
Possibly Golga, but the UK wouldn't be where it is today if people pointed the finger at the guilty party instead of each other, thereby allowing the guilty party to play the consumer like a cheap fiddle.

cakemonster and TMM it definitely happened to me a couple of times today and on reflection 2 or 3 times this week on the tennis
mistakes that i have made into the market during a point are getting matched at exactly what i asked for ,rather than a mixture of what was up there
it is not always but it has surprised me to the extent i have thought how did that just happen
obviously i have pressed the button and made a mistake but normally you would get a bit matched in between or have time to cancel
but it has been instanteous at exactly the right price
this is a hugely worrying development
where is the overbroke money going ?

Just quickly - then I am going to bed and will respond further tomorrow

fork in hell
- my true colors, have always been thus - protect the small long term punter and the site will prosper, dont worry so much about protecting the professionals ( of which I am one) and as such some of my own suggestions would hurt me short temr but help the site and me long term ( undertsandly this interplay is complex) and few people will deliberately make less money in 2008 to protect an expected income in 2012, and 2020. I will becasue I belive my bots will make money until there are onyl two people left playing on this site

note: I was the first to say and I repeated in several posts that this was fine IF best executions was maintained

I later said that IF someone IS going to take this money ( one way or another) betfair being the recipient might not be as bad for the long term value of the causal punter than - one of the professionals taking the money

I did not say it was a good thing for this to occur in principle

but long term fairness for social punters that drive this site, needs to the principle factor in deciding in what is good

....and who are you getting matched with? In TMM's example was he matched by the 1.15 layer - or did he get matched by a backer on the opposite side of the book. If he was matched by the 1.15 layer, then why the hell didn't he get 1.15?

This could end up meaning that any mistakes you make you are completely shafted on whereas up to now you may get a chance to cancel or at least pick up a price a bit better than that which you asked for.

what can be added to TMMs FACTS so far?

-only in-running markets are monitored (so far)

which kinds of sports is the Monster operating?

Havent found any uproar on soccer or horse forum yet, so is this only a tennis thing?

Looks like you can all sleep safely as I haven't seen any announcements stating betfair have started their bots on the sports exchange.


bot 15 Dec 13:54

Jd777,

There are no Betfair robots running on the sports exchange. If there was one we'd announce it, just like we did with the exchange games one. If you were going to run a robot and not be open about it the one place you'd do that would be on exchange games where customers wouldn't notice the difference. It's one of those strange situations: if we'd instead chosen to be underhand people would have no reason to question our honesty, yet by being open people oddly conclude we're not being open.

What we probably will do at some point in the future is extend the bet matching algorithm to match a customer bets that could be matched, but aren't currently. For example last weekend we had customers looking to back the draw in the match odds market for the Hatton Mayweather fight unmatched at 24, while other customers were looking to lay the draw in the method of victory market at 24, also unmatched. Obviously we could match both customers but currently don't. If we can find a way of doing that that has no negative impact on bet matching performance then we'll introduce that and it probably will be noticable, but it would be a stretch to call that a Betfair robot - we'd just be matching opposing customer bets which is what the exchange is supposed to do.

I was under the impression that betfair only reverted to this matching if the price you ask for (would not get matched at that point)

so if there is 1.4 to back and you ask for 1.4 you will get that, rather than a potential of 1.35 ( which you might have got by matching betfairs decision to play you against the other two backs -ina three event outcome)

so bayes the 100.0 example would not work

goodnight

There could be some pretty big spreads coming up .. is that good for matching ????????

They'll only clean up if it's a risk free bet , Visionary, so some of the 1000/1 may go to punters if there's not enough to balance the books

Magician

you yourself were unsure what betfair's policy was

The Magician (1) 06 Mar 18:45

Scrip

will they pass on best execution, or will they nick the spread, between request and execution price

Up until today i had no idea betfair were even playing on the markets.

visionary
horse racing would be a license to print,it is constantly overround but most big mistakes don't get matched because there is not money at that price
we haven't been told what sports it has been implemented
it has just been introduced under the radar

right, i've missed out pages 4 and 5 here.. and i'll get back to read them tomorrow, but this is concerning, it reminds me of the old old days of betfair when they used to do this...

but surely there is loose change isn't there ?! if i leave a back up at 1.5 and someone decides to back the other player at 2.8, what price am i getting ? 1.5 ? half way the difference ? who gets that overround ? and why am I not offered the chance to cancel ?

if i make a mistake, or i put in a bet between points and god forbid rafa nadal takes only 15 seconds between points rather than 22, can i still cancel if I'm out of line or not ?

put it the other way, there is someone else backing 1.5, and i put in 2.8, we both entered as the point ended, can i cancel and then go after the 1.5 ?

and finally, does it take 5 seconds for this overround to be filled, as it would with a consumer bot, or is it quicker than 5 seconds and thus an unfair (intentional) matching of my bet... i don't mind the accidental matching of my foolishness, these things happen.

man marcus, i did try to call you, i will try again in the next day or two..

With the picture delays in ir tennis the opportunity to cancel is essential. People at the event will get matched immediately wont they ... no dont believe this

that would be conclusive evidence.

dsstyle, did you check the matched times ? i.e. was the bet matched when placed and the overround created or allowed to run the 5 seconds

guess that makes my claim less hysterical than Scripophilist made out

and if there's only one ID?

if that's the case, that's plain wrong. im trying to test it on that match, but my laptop is proving a bit too slow to be accurate.. will test it out tomorrow properly.