LaySP Liability bet using excel trigger

[Rinconpaul]

Just want to be sure I've got this right? I want to place a $30 Lay liability bet at SP.

In col Q the selection once triggered will display 'LAYSP', the Odds col R, and same row as selection, will have '1.01' and the adjacent col S Stake column will have '30000'

[Captain Sensible]

No those details would have you laying a $30,000 liability but luckily with the maximum odds you'd lay at being 1.01

LAY-SP puts the bet into the normal market and if it's still unmatched it gets converted to SP at the off but you will be matched at whatever odds the SP returned. If you used LAYSP your bet goes into the BSP pool but you can specify the maximum odds you're willing to accept for the bet i.e. happy to be matched at 10 but no higher.

So LAY-SP the liabilty is worked out from the odds and stakes column i.e. $3,000 @1.01 gives a (1-1.01) x 3,000 =$30 liability
with LAYSP you'd stick the maximum odds you'll accept in column R (1000 if you wanted an almost certain match) and the liability in column S i.e. $30

[Captain Sensible]

http://www.gruss-software.co.uk/Betting ... iggers.htm

The -SP is a trigger modifier so comes under

http://www.gruss-software.co.uk/Betting ... ifiers.htm

[Rinconpaul]

Thanks Captain. Let me try and categorise this somewhat, but I'll have to raise my liability right up to demonstrate:
Let's say my selection (determined by other parameters not price) is showing Back $30, Lay $120 (That's quite common, even worse in lightly traded AUS Dog and Trots races).
I'm hoping to get a SP less than $120 so I place a LAY-SP bet at 1.01 odds for $3,000 stake. Result: No matter what the SP is, I get matched for $300 liability.

Same scenario as above, except I will only accept a max Lay SP price of $50, so I place a LAYSP bet at 50 odds, however because I don't want to exceed my liability of $300, my stake is $6 (Liability of $294). If SP is > $50 Result: Bet remains unmatched.

The 3rd scenario is I wish for a Lay bet at odds of 50, for $6 stake, but if unmatched before the race starts, will take the SP at whatever it ends up. What would the coding be for this 3rd scenario? LAY-TAKESP ??

[Captain Sensible]

I'm a bit confused when you say things like Back $30, Lay $120 are you talking about the odds or stakes? Either way it's not that important.

Your scenarios 1 and 3 are basically the same just different odds, the two available LAY methods for SP betting are LAYSP and LAY-SP. Basically the LAYSP trigger puts the bet directly into the BSP pot and allows you to set an odds limit, but unlike LAY-SP it will not show up on the exchange as available to be matched pre the off.

With LAY-SP you're simply adding keep options to a normal exchange bet, the -SP trigger modifier just means the bet will go into the BSP reconciliation process if it hasn't been matched before the off. If you wanted the bet to remain inplay you'd add the "-IP" modifier i.e. LAY-IP, the addition of "-SP" just means the bet doesn't lapse at the off.

In your first scenario you'd laid a bet into the exchange at 1.01 for $3000 ($30 liability) and it would be available for anyone to take, in your third you'd still use LAY-SP and assuming you wanted close to $30 liability we'd use $0.62 as stake and 50 as the odds, this would give us a liability of $30.38. If we had used $0.61 as the stake the liability would only be $29.89 and because that's under the Aus minimum limit of $30 for SP bets the bet wouldn't go into the BSP pot if it was still unmatched at the off.

So the 3 options you stated at $30 liability would all be as follows

Option 1
LAY-SP, Stake $3000, odds 1.01, the bet goes into the normal market and if unmatched would go into the BSP reconciliation process and get matched at whatever odds the BSP returned.

Option 2
LAYSP, stake $30, odds 50, the bet goes direct into the BSP pool and if the BSP odds are returned 50 or under you'd be matched otherwise it just lapses.

Option 3
LAY-SP, stake $0.62 , odds 50, the bet goes into the normal market and is available for matching at 50 if it's still unmatched at the off it'd go to BSP reconciliation and get matched at whatever odds the BSP returned.

[Rinconpaul]

Got it! That's helped heaps. Cheers

[vanbuuts]

I am trying to lay at SP and then place in play offset back bet.

Can anyone help with the coding?

I am using LAYSP-P50 (for 50% but keep getting error message)

[Rinconpaul]

As I understand this, if I place "LAYSP" in a col 'Q' cell, the lay bet is conditional to only lay at BSP if BSP doesn't exceed the odds I specify in col 'R' cell?
e.g. (cols Q-R-S) LAYSP 30 30....would interpret as lay at BSP if BSP <= $30 for a liability of $30?

My next question is, can I make this even more conditional? I want to only lay at BSP if BSP<WAP odds (col 'Z')