LAYSP - has something changed

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LAYSP - has something changed

Postby bolpx001 » Wed Mar 28, 2018 4:28 pm

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Hi, I am wondering if betfair have ceased to support LAYSP I can place a BACKSP with no issues but when I try to LAYSP it says pending and then displays cannot accept bet There is plenty of money in my account and the race is 'NOT IN PLAY' I used to be able to do this with no issues - any help appreciated.
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Re: LAYSP - has something changed

Postby alrodopial » Wed Mar 28, 2018 4:46 pm

just wondering
odds = 1000 required?
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Re: LAYSP - has something changed

Postby MarkRussell » Wed Mar 28, 2018 5:16 pm

Hi,

Your stake is not enough for it to be accepted by Betfair into the SP pool.

You must use a stake of at least 10 on a lay bet for it to be accepted.

Regards,
Mark
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Re: LAYSP - has something changed

Postby bolpx001 » Wed Mar 28, 2018 5:43 pm

Thanks Mark, Never knew that :)
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Re: LAYSP - has something changed

Postby KESIMKESIM » Wed Mar 28, 2018 6:49 pm

I think your bet has to have a minimum liability of £10 as opposed to a stake of £10.

i.e at 10's you have to lay for an £11.12 payout, as your stake money is £1.11, giving you a liability of £11.12-£1.11 = £10.01
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Re: LAYSP - has something changed

Postby bolpx001 » Wed Mar 28, 2018 8:33 pm

Thanks KESIMKESIM, just testing out some ideas - cannot say it is going well :(
best regards - Paul
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Re: LAYSP - has something changed

Postby MarkRussell » Thu Mar 29, 2018 9:46 am

Hi,

To clarify, this is what Betfair say about laying at SP:-

In a normal Exchange market, if you are laying you are asked to specify the backer’s stake you would like to try to win and your liability is calculated for you.
In contrast when placing an SP lay bet layers are asked to specify a liability (rather than a backer’s stake). This is because the SP won’t be known until the off, so customers have to specify the liability they desire so that we can ensure they have sufficient funds in their account to pay the backers we match them with should the selection go on to win. Backers and layers at SP will therefore not know how much they could win until the start of the event. Backers at SP specify their stake as normal and this amount will reduce their “available to bet” balance as usual.


Regards,
Mark
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Re: LAYSP - has something changed

Postby bolpx001 » Thu Mar 29, 2018 6:27 pm

Thanks Mark, the exact opposite of what I want :(
Personally I think Betfair should offer a lay bet to an amount to win and if insufficient funds are available then cancel/void the bet. From a betting point of view it is easy enough for a layer to estimate the BSP and ensure sufficient funds are available. Thanks again for your help - Paul
p.s.
Should have read the manual :(
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