General Betting

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06 Mar 18 10:27
Date Joined: 22 Jan 01
| Topic/replies: 127 | Blogger: Stowhound's blog
I believe there is an option to have a bet on the exchange at betfair SP. A few questions.
Does anybody know how this is calculated ?
How does it work if you have a bet how much you can get on?
Is it available on Greyhound Racing?
I rang customer services but the person I spoke to was unable to understand what I was talking about and I lost patience and hung up.
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Report DFCIRONMAN March 6, 2018 11:34 AM GMT
It is not possible for you to cancel a bet you have placed on the site at SP. This is so that we can provide an estimate of the Starting Price based on money committed to betting at SP. If bets could be cancelled, this estimate could be manipulated by placing a large bet and then cancelling it. If, however, you have an unmatched Exchange bet with the option “Take SP” selected you can still cancel this up until the time of the off.

If you have specified a limit on your SP back bet you can reduce the minimum odds you are prepared to accept. If you have specified a limit on your lay SP bet you can increase the maximum odds you are prepared to offer. You will not be allowed to increase the odds on a limit SP back bet, or reduce the odds on a limit SP lay bet as this would allow customers to amend their bets to levels that would be highly unlikely to be matched, which would have the same effect as cancelling which is not allowed, as explained above.

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Can SP bets be placed using Betfair Mobile?

Not currently…but watch this space!

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Are my SP bets highlighted in Current Bets, Betting History and on My Statement?

Yes. Your bets will show in Current Bets at SP along with any odds limit you may have set.

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Will the new functionality affect Multiples / Coupons / Line / Range or Asian Handicap betting?

No. You will see no changes to the market views at all and will still see the old Express & Full Views where relevant. This currently only affects odds markets.

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What does the functionality under “Coupons Pages” in More Options allow me to do?

These options will not appear in More Options unless a Coupon is selected on screen. This is what the options are with a brief description of what they do.

Display stake selector = Displays a stake selector in the market header.
Display best prices only = Displays the best prices for each selection.
Display averaged odds = Displays prices averaged around the values specified by the customer in the stake selector.
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What happens to my SP bet if there is a subsequent non-runner?

Please refer to the SP Bet Rules section.

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What can I do with an unmatched bet in SP markets?

By default unmatched bets ‘lapse’ and are cancelled at the start of the event.

You can still choose for this to happen if you wish, and unmatched bets will have “cancel” as their default. However we have added two new alternative options:

You can choose to “Keep” the bet once the market turns in-play if it is not matched prior to the off. This provides another opportunity to get your bet matched, although there is still no guarantee you will be matched as the price may never reach the level you have requested.
You can also choose to convert your unmatched Exchange bet to an SP bet if it remains unmatched at the off by selecting the “Take SP” option.
Please note again that you can cancel an unmatched Exchange bet as normal, whichever option you have chosen.

Also see the Changes to Exchange Betting (Non SP bets) section.
Report DFCIRONMAN March 6, 2018 11:36 AM GMT
From link this helps......
Report Latalomne March 6, 2018 1:59 PM GMT
It's calculated using a combination of the ratio of SP back money and SP lay money (each outcome is treated as an entirely separate market, so it is possible for the sum of BFSPs of a horse-race, for instance, being over-round or over-broke - it doesn't necessarily rationalise to 100%) and money left in the market (Keep bets) when it turns in play.

If you take BFSP in an illiquid market with a lumpy stake, you WILL distort the BFSP and end up with a rubbish price. 

I've never used it on greyhounds, but it does appear to be in operation.
Report Stowhound March 6, 2018 7:49 PM GMT
Thanks for the help
Report longbridge March 7, 2018 10:58 AM GMT

"and money left in the market (Keep bets) when it turns in play."

Not quite, if I read this

I think it's *all* the money in the market at turn in-play ie it's done before unmatched-at-turn-in-play bets are cancelled, not before.  At least that's how I've always understood it and how it makes sense to me.
Report Latalomne March 7, 2018 2:47 PM GMT
You might be right, but I've only ever noticed my keep bets (occasionally way out of line with the market rate) get mopped up during the reconciliation process.
Report qqking. March 8, 2018 1:25 PM GMT
A few weeks ago I had a small bet at bf sp on one of the US meetings. When I realised it was a trotting race, I wanted to cancel the bet, so I laid it at bf SP, mistakenly thinking the back and lay would cancel out. As it happened, the lay at bf SP was not matched, so I lost my stake when the horse lost.
Report longbridge March 8, 2018 3:29 PM GMT
"the lay at bf SP was not matched"

Surely that's only possible if you ask for a limit price on your SP bet?  If you back SP was matched, it was matched against all SP lays in the pool, including yours?

I know that normal SP lay bets which are set as "take SP if unmatched" don't get to take SP if they're below the GBP 10 minimim liability for SP lay bets nut this a straight SP lay, you're talking about?

Also, had did you set your SP lay to cancel your SP back?  SP backs are expressed in terms of stake, SP lays in terms of liability - you can't tell how the two will counter each other until the SP price is known?
Report qqking. March 8, 2018 9:06 PM GMT
Yes, looking at it again, I probably only laid back a quarter of my stake. Was only a £3 loss, so I didn't get too excited about it, but I certainly didn't do very well, did I?
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