Lay Naps Comp Jan 2020 - Friday 24th Jan

Q and A’s regarding the competition format and rules.

How many selections must be made?

Over the month entrants must make 1 selection on at least 25 days.Anyone can join in at any time as long as this criteria can be met, so for the January comp, the 7th would be the latest possible time to join in.

The calculation for no shows which cannot be exceeded is Days Of The Month - 25
So for January 31-25 = 6 possible days when an entrant can refrain from offering a selection

Void runners will not be viewed in the same way.Whilst substitutes can be offered at any point following all the usual rules, a failure to replace a void runner will not be used as a strike in the same way as a No Show.So in theory for a month, an entrant may still be accepted for posting less than 25 selections so long as the no show limit is not exceeded.

What criteria do selections need to satisfy?

Selections must be of odds no greater than 6.0 in any UK or IRE race under rules win or STANDARD place markets on Betfair.

Are win and place markets settled in the same way?

Win markets allow for a choice between an early price to be taken or BFSP, whereas place markets will ALWAYS be settled at BFSP.The reason for the difference being the sluggish liquidity difference between those markets and thus the credibility of early prices.

When must selections be posted? (please read this carefully)

A selections thread for the following days racing will usually be posted between 6-7pm, in the event I am not around at this time the selections thread may be put up sooner.Anyone who needs to post a selection sooner than the next days thread being active can message me and I will make sure their entry is posted on that day’s selections thread.

The competition will have 2 phases for the selections process.
Phase 1 will be from the time the selections thread is posted until 8am the following day (race day).

In this phase there is an opportunity primarily for those that are not around on race day to still be able to take part.Selections given during this time will be settled at BFSP unless a bet meeting the competition liability (current bank / 20) is posted on the selections thread to show it was feasible. The reason for this request at this stage is the volatility and slackness of the market and subsequent ?? over the credibility of an early price taken.

Eg the starting liability in the comp is £50 so a qualifying bet at the stated price must be posted for a minimum of that liability to be settled as such.

Selections posted with prices that aren’t verified in the above fashion will still be allowed but settled at BFSP so long as they still satisfy the price limit of max odds 6.0.

Entrants are more than welcome to offer a couple of substitutes if they know they will not be around to change any selections deemed void.Substitutes that qualify will then be used in the event of a void first choice.

Phase 2 will be from 8am until t-2mins of race time (so 12:00 race would need entry no later than 11:57am) on the given race day.

In this phase of the market, Entrants can take an early price (no posted bet required) as last price matched when posting or leave their selection to be settled at BFSP.Note again that place market selections will always be settled at BFSP at whatever phase of the markets.

How are selections staked and returns calculated?

Selections are staked to a fixed 5% liability of an entrant’s current bank with a 2% commission rate which recently has become widely available on Betfair.

Where a price has been taken this will be used in settlement even if the BFSP returns greater than the permitted 6.0 max limit.
If deductions occur in the market after this price was taken, the taken price will be adjusted accordingly and so will the relevant staking for that selection to stay at the 5% liability of current bank.

Where a price has not been taken settlement will as in phase 1 of the market be at BFSP.

Where can the current standings be seen and who wins the comp?

The days results will be posted on the days selections thread on this forum, the overall standings will be over on the Your Comps forum.The winner will be the entrant with the biggest bank at the end of the month.