How do you cancel a bet to SP

cant cancel once matched..obviously

You CANNOT Cancel a Betfair SP beet - be it Back or Lay

Beware, though, if you are, then, trying to LAY an BSP BACK bet at BSP (Lay)- in order to nullify your BSP Back bet ...

The BSP LAY - ONLY offers you 'Liability' - so you will come up short.

Fore example:

Back a horse at BSP for, say £10  - potentially Lose £10, therefore.

However - If you just put £10 in the BSP LAY Box - then you are only Laying it for a LIABILITY of £10 - and NOT another BACKER's STAKE of £10.

So - If the BSP is 11.0  (10/1) - and the horse LOST ...

Then you would ONLY win just £1 off the other BACKER - and, also, LOSE YOUR £10 BSP Back bet Stake.

In order to get your full £10 BSP Back bet Stake covered/returned.... You would need to put £100 in the LAY BSP 'Liability' Box.... and have sufficient (additional) funds in your account to cover that 'Liability' - as your BSP BACK bet would only come into play/be activated at 'the OFF'.

All that, though, would only be something of a guess - as (pre-race) you would NOT know what the potential Betafair SP will be.

Can't cancel SP - they're essentially placed once matched.

Imagine if you could - you could cancel almost all your back bets a second before the off and if the layers weren't as fast to cancel their matching bets they'd be laying a much longer price than they were expecting.

And to onlooker's point, I'm certain he knows but didn't explain, SP laying has to be to liability not backer's stake because BF have no way to know if you have the funds in your account to lay a fixed stake when they can't tell what the odds will be.

Twice in the last 6 months I have accidentally placed two lay bets at SP.  Cost me £800 could have been £1500 but got £700 back IR.

"Can't cancel SP - they're essentially placed once matched."

I meant "matched once placed", apologies.

how do you lay sp in running. whats the set up?

@roder2 - what's that mean?  You can always place a lay bet in running at the BSP, but that's so obvious you must mean something else?

longbridge- where do click in running to strike the bet?

lonngbridge 25 Apr 17 16:35 

And to onlooker's point, I'm certain he knows but didn't explain, SP laying has to be to liability not backer's stake
-------------

Whoa - Who didn't read my post, thoroughly.   

This is what I posted ... and then went on to EXPLAIN......

onlooker 25 Apr 17 15:26   

However - If you just put £10 in the BSP LAY Box - then you are only Laying it for a LIABILITY of £10 - and NOT another BACKER's STAKE of £10.


etc, etc

I don't see why you can't cancel it. surely it's just an "order" that takes the SP price when the money would be there anyway.
anyway, thanks for the replies.

Put in a price that won't get matched, tick the Take sp.

Your bet will remain open until the off enabling you to cancel unmatched bets before the off.

Bit of a ball ache but .....

Apr 25, 2017 -- 8:33PM, STATSMAN wrote:

Put in a price that won't get matched, tick the Take sp.Your bet will remain open until the off enabling you to cancel unmatched bets before the off.Bit of a ball ache but .....

that's what I am doing now

Don't understand your problem then - Sorry

Yoy done an sp bet against if that was the case you would be deduced that amount from your account.
Back the same amount @ sp which leaves super rich winning 2% plus commission on any winning .

In other words hold or lay it of in the run.
For me anyhow let it run as sp is the best and have done many spreadsheets and wasting my valuable time arsing around about trading when I fkn know what is true.

Simple you dont win trading and if you think you do your THICK.

The bf BOT wins .

People who trade out are either short of funds or unsure .
Mark my words you lose more trading in a gambling market because the % is automatically against you.
Its a bot not a position .
I.e Math.

Masters of the art of gambling are free to all to see.
Personally I found Thomas Brusse the Belgian mathematician exceptionally helpful in this simple but human possible task and understanding the principle of quote "the art of a right decision" has proved its self time and time again .
Google it and its a sure thing .


Fact

Furthermore it wont show you how to win but initially on reading that it will stop any losses and then if you understand how to win it is there .

The average in running market returns 60% to the bf bots and live players are few because the bots are buying and selling in the allowed 1 second which is 3.5 lenghts in a 5f race according to the chief handicapper .

As he has to allocate weight to every runner it would be scrutinized .
If it was unfair it would be challenged under the rules .
The bf delay for in running is CONVINCINGLY one second delay .

Its not math to work that out is it as you wont win trading .

Solution .
Do the math .
Criteria
fit
form
class
distance
Rating

= Win

THANKYOU

@roder2 - sorry, still don't get what you're having trouble doing

@onlooker "This is what I posted ... and then went on to EXPLAIN......", no, with all respect, you didn't.  You made it clear that SP laying *was* to liability - you didn't explain *why* it has to be, which is what I hoped I did.

Put in a price that won't get matched, tick the Take sp.

Your bet will remain open until the off enabling you to cancel unmatched bets before the off.

Bit of a ball ache but ..... Grin

Basically that is my entire plan for gamboling on this ere hexchange (i don't put a too unrealistic price up) some even get matched and better still some even win at the big price - just tick cancel bet at off if you don't want it matched at bsp at any point until the off.