Hi, betfair badly needs in the exchange settings an option whereby the punter can set a maximum liability per market, so that when I am betting say on a football match and I press the wrong key I get an error message if my liability is going to be over some specified amount, say 200 pounds, (a figure set by the punter). I have noticed on racing markets that the evening before, when the market is thin some people offer to back favourites TO PLACE at 1000 and these bets are first in the queue. No way these can be bona fide bets as typically the true price is somewhere between 1 and 2. I’ve noticed the same thing in football markets with people offering to back “under 8.5 goals” at 1000 or “hat trick not scored” at 1000. Again these are not bona fide traders but dishonest people hoping someone makes a horrific mistake. I know trading here is dog eats dog, but there should be safeguards, and they could be easily implemented. I see that **** have such an option, which is the one and only thing that is better on their exchange. It doesn’t affect those with just a couple of hundred in their account as the bets won’t be accepted anyway but if one has thousands in their account then this situation is frightening. To mitigate the risk I have in the past put several thousands on Liverpool or Man City to finish in the top 10 of the premiership so as to put the money in a safe place but this is obviously not ideal. It was suggested that I use the Loss Limits tool but now I've done so and discovered to my horror when I went to disable it that it takes a week for the new settings to kick in! Surely there must be a better way?
Am I missing something? Is there already an option that allows me to limit my liability on a market? If so my apologies just tell me what to do. If not then the exchange settings are crying out for a function that allows one to limit liability