General Betting

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10 Feb 15 11:26
Date Joined: 14 Dec 10
| Topic/replies: 3 | Blogger: Arbu's blog
I understand there's an delay on in-play betting of a few seconds which varies from sport to sport. The bet only gets matched after the delay. But who is able to cancel their side of the bargain? Is it the person with an existing unmatched bet, or the person who is accepting it? If it's neither then I see no point in the delay - betfair would just be postponing the time when the bet is considered to be matched to no effect. If it's only one side then that side has an unfair advantage - they can wait and see how the event evolves in those seconds and decide whether to take the bet or not. Logically both parties should be able to cancel. Is that the case?

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Report big aitch February 10, 2015 11:23 AM GMT
if you have a bet left up on the football market, I think you can delete them when suspended, I seem to remember doing it. The horse racing market is the biggest rip off, when that is suspended on a photo finish you can't delete any left up bets and they are all swept up (by I think we know who) by the time it is unsuspended.
Report Latalomne February 10, 2015 1:32 PM GMT
If you have bets already sitting in the market, you are able to cancel them, assuming the market does not move against you before you have done so. 

Bets that are still counting down will hit the market (unless it's suspended at the time) once you confirm their placement, and there's nothing you can do to stop it.
Report longbridge February 10, 2015 4:59 PM GMT
What latalomne said is how it is.

Arbu said "Logically both parties should be able to cancel", which doesn't make sense if you think about it; if the person placing a bet can do that, simulataneously place bets at every price point you can afford and one-tenth of a second before the bet delay expires, cancel all except the one that makes sense now; bingo you now have a personal bet delay of one-tenth of a second.

(anyway you don't get back the bet ID from the API or on the betslip 'til the delay has expired and the bet is placed so you've no way to express a cancellation until then anyway).
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