In-play cross-matching trial – Lingfield, Tue 23 Nov 2010

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In-play cross-matching trial – Lingfield, Tue 23 Nov 2010

Postby GaryRussell » Tue Nov 23, 2010 9:15 am

Following from Betfair.
Following a previous trial earlier this year, we are now running another trial of in-play cross-selection matching (‘cross-matching’) on the win markets at Lingfield Park on Tuesday 23rd November. Cross-matching will only be activated after the markets are turned in-play.

If successful, cross-matching will be turned on for all in-play win markets on British and Irish horseracing from November 24th onwards.

Cross-matching was introduced on most sports during 2008 and has had a significant, positive impact on liquidity. It has meant that a customer’s bet is more likely to be matched than would have been the case without cross-matching. When a bet request cannot be matched by an opposing bet on the same selection, cross-matching will attempt to match the bet request with unmatched liquidity on the remaining selections in the market. Cross-matching incorporates ‘best execution’ meaning that whenever the bet matching algorithm can match a bet request at a better price than requested, it will do so, resulting in the customer making the bet request getting the best possible price.

We don’t expect customers to notice any material difference in the way the win markets operate at Lingfield Park.

We shall release an update to the Beta version with the cross matching calculations enabled for the in play horse racing markets as soon as possible after Betfair announce they have turned it on.
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Postby GaryRussell » Tue Nov 23, 2010 2:07 pm

Here is a video demonstrating BA's ability to calculate the cross matching virtual odds. The liquidity created by cross matching is highlighted in yellow.
The video is of the 1250 race at Lingfield today.
Lingfield 12:50
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Postby MarkRussell » Wed Nov 24, 2010 10:54 am

Following is from Betfair:-

Following completion of the trial yesterday cross-matching will now be turned on for all in-play win markets on British, Irish and Meydan Thoroughbred horseracing from November 24th.
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Postby wiseman34 » Wed Nov 24, 2010 1:20 pm

hi can anybody explain in laymans terms what cross matching actually is. i back and lay ir and am wondering how this will affect me. thamks
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Postby wiseman34 » Wed Nov 24, 2010 1:33 pm

just read the 1st bit lol.thanks
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The strength of Gruss Software is that it’s been designed by one of you, a frustrated sports punter, and then developed by listening to dozens of like-minded enthusiasts.

Gruss is owned and run by brothers Gary and Mark Russell. Gary discovered Betfair in 2004 and soon realised that using bespoke software to place bets was much more efficient than merely placing them through the website.

Gary built his own software and then enhanced its features after trialling it through other Betfair users and reacting to their improvement ideas, something that still happens today.

He started making a small monthly charge so he could work on it full-time and then recruited Mark to help develop the products and Gruss Software was born.

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