Switching off best execution

[N Counter]

Hi all. I recently had to acknowledge a notification that I could switch off best execution. Why would anyone switch it off? Am I missing something obvious? Any help will be much appreciated.

Cheers.

[Captain Sensible]

It's a regulatory thing that they needed people to sign up. Like everything these days you have to have the option to opt out

[N Counter]

Thanks Captain, it seems the world really has gone nuts!

[mike]

Strange option. I read more about the feature here:

https://en-betfair.custhelp.com/app/ans ... ecution%3F

Is BA automatically set to best price execution? I did not sign or switch on anything.

[MarkRussell]

Hi,

Betfair control the matching process.

You can turn "Best Execution" on or off from the Betfair website.

Go to the Settings on the website and you will see the option under Betting.

Regards,
Mark

[mike]

Thanks Mark,

I don’t have that option if I go to Betting under Settings on the website. Maybe because I am an international user.

I read on another forum that it is switched on by default by Betfair for all customers and that it is the recommended setting by Betfair. So I suppose it is switched on by Betfair in my case too.

Regards,
M

[mike]

Merry Christmas!

[mak]

So if someones switch it of from the site BA will be affected too?
If yes, does the softa=ware need restart or it is happening automatically?

Merry Xmas

[Captain Sensible]

It would all be handled by Betfair's matching algorithm so they'd be no need to restart the software. I guess there's a niche for it off as people continually ask on here how get get matched only at a certain price point.

[MarkRussell]

Hi,

To confirm, if you turn off "Best Execution" whilst you have the software open then there is no need to restart the software.

And to confirm what happens:-

with "Best Execution" on Betfair will match you at best available odds, so let's say the best market odds are currently 2.0 and you request to back that selection at 1.01 you will be matched instantly at 2.0
In the same scenario with "Best Execution" turned off Betfair will reject your bet request and the software will show the error message "CANNOT_ACCEPT_BET" which you will see in the Last Action bar at the bottom of Betting Assistant.

Regards,
Mark

[mak]

Thanks bith for your answers
Just to confirm that when it is turn off BA does not need to restart

[mak]

*both

[vanbuuts]

Mark, are you able to clarify that using BA - if I wanted to lay at 10 (for example) and the horse was currently trading at 7.0 - could I get a lay bet in at 10's that would only be matched when the horse's odds drifted - or would the bet just be not accepted with this option turned off?

[MarkRussell]

Mark, are you able to clarify that using BA - if I wanted to lay at 10 (for example) and the horse was currently trading at 7.0 - could I get a lay bet in at 10's that would only be matched when the horse's odds drifted - or would the bet just be not accepted with this option turned off?

Hi,

In that scenario with "Best Execution" turned off Betfair would reject the bet.

The only way to do that would be to wait until the odds reach 10.0 and then send the bet request which you can do using either the Conditional Bets feature or Excel triggered betting.
But there is no guarantee of ever getting matched at exactly 10.0 as the current market price may quickly drift as you send your bet request.

Regards,
Mark

[vanbuuts]

Thanks Mark fully understood