General Betting
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Weirdly I am getting different results for the following tennis match when viewing it through the api to what is shown on the website. The market id is
"1.118507927", a tennis match between "A Schmiedlova" and "Irigoyen" (http://sports.betfair.com/?mi=118507927&ex=1&origin=MRL).
The website shows money available at odds 6 (£20) but the api doesn''t show money available to back at 6, it show the best price as being 5.6? I have checked that I am not using the "delayed api key".
Please can someone check/confirm they see the same?
I have matched £2 of the waiting bet @ odds 6 through the website to make sure this wasn't a phantom bet and it was matched fine.
I am hoping this is a problem with my software...the alternative doesn't bare thinking about!
"1.118507927", a tennis match between "A Schmiedlova" and "Irigoyen" (http://sports.betfair.com/?mi=118507927&ex=1&origin=MRL).
The website shows money available at odds 6 (£20) but the api doesn''t show money available to back at 6, it show the best price as being 5.6? I have checked that I am not using the "delayed api key".
Please can someone check/confirm they see the same?
I have matched £2 of the waiting bet @ odds 6 through the website to make sure this wasn't a phantom bet and it was matched fine.
I am hoping this is a problem with my software...the alternative doesn't bare thinking about!
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Replies: 8
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Ah actually this is probably the effects of the cross matching... in which case this would make sense, I'll look into... please ignore this thread!
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I think you have it. Flip the setting of 'virtualise' in the PriceProjection you send to listMarketBook to confirm.
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Thanks longbridge, I didn't know about that option, that will be useful for debugging.
Because of the rounding issue in displaying the 'virtual' bet (due to odds increments), I assume betfair pocket the difference if the 'virtual' bet is taken (like when the market becomes 100% over/under broke)... Rather than getting the *actual* converted odds? |
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I just ran a test and as expected, taking the 'virtual' odds means getting a worse price and bf pocketing the difference (free bet). So to conclude, if you're a price taker, always calculate the best return, trickier for say markets with 3 or more selections, but worth it.
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Sorry Getafix you've lost me - worse price than what? Not worse than the price you asked for?
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As an example, if you place a waiting back at odds 5.9 in a tennis match, if cross matching is switched on then you will see 5.9 waiting on the "back" side and betfair will create and display the "virtual" bet on the other player i.e., an odds 1.20 on the "lay" side of the other player (notice betfair rounds down the odds, it should actually be 1.2040816326530612244897959183673). If somebody wants to take your bet they can either take your back or the virtual lay, if they lay your back then they get the best value. If they back your lay, they lose out by 0.0040816326530612244897959183673 as this becomes a freebie to betfair.
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Thanks, got it.
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On the UK exchange, Betfair pocket the difference between the real odds and the virtual ones. However over on the AUS exchange, Betfair are forced to return this free cash to customers, thanks to Australia having a more clued-up regulator. Every few months, you'll get a small cash deposit in your aus wallet as the money is divided up between active users.
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