Betfair SP

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Betfair SP

Postby brumbie » Tue Jul 27, 2021 7:37 am

I backed a horse yesterday with a minimum of 12 SP. It actually went off at exactly 12.00 (as confirmed in betfair data) but I didn't get on. Does anyone know if Betfair operate on a greater than policy ie:> or an equal or greater than policy ie:>=. If they operate on a greater than then I could put 11.99 next time. The horse lost incidentally, so I saved my dough.
brumbie
 
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Re: Betfair SP

Postby Deestar » Tue Jul 27, 2021 2:53 pm

It's happened to me a few times when the returned BSP is the exact same as the odds limit. Usually its gets partially matched. It seems that bets placed with SP min/max are essentially the last in the queue when it comes to being applied in the calculation.
From their website -

What happens if the SP is exactly the same as the limit I set?

If you have set a limit that turns out to be exactly the same as the Starting Price, we may be unable to fully match your bet. In this case the SP may have been reached without including all bets at that price limit, as to fully include all bets with that limit may have resulted in an imbalance between backers and layers. Therefore, your bet may be unmatched or only partially matched. Where bets have identical price limits to the SP they are matched in the order in which they were placed, as is usual in Betfair’s markets.
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Re: Betfair SP

Postby brumbie » Tue Jul 27, 2021 11:41 pm

Thanks for that Deestar. If you happen to know the best way of preventing too many bets being taken that are over the top end of a price range eg: 4.00-8.00 and a bet taken that is say 9.00, please share..lol. Ihave tried every which way but loose. Laying off an unwanted bet immediately in play, later in play, backing in play after knowing the SP, lowering my range before the off . At present, I am leaking around 50% in bets I don't want. They don't even themselves out either. Pain in the ass. Thanks again mate.
brumbie
 
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Re: Betfair SP

Postby Deestar » Wed Jul 28, 2021 9:12 am

Are you trying to back your selections only when they are between a specific odd range at BSP?
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Re: Betfair SP

Postby brumbie » Thu Jul 29, 2021 12:47 am

Yes, I am. I have let it run for a few months now, accepting the higher ones not wanted. Unfortunately, they are around up to 30% of the total bets for the day, and they very rarely win. I realise there are quite a few ways around this, but I just can't find the best one.
brumbie
 
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Location: Brisbane,Australia

Re: Betfair SP

Postby Deestar » Thu Jul 29, 2021 8:38 am

I don't think it's possible to set a condition like that for BSP.
If it was me I'd back them at x secs before the off only if they were in the range you wanted. You'll miss some for sure, and add some you don't want but trying to correct once its gone in play is a fools errand.
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Re: Betfair SP

Postby brumbie » Thu Jul 29, 2021 9:22 am

Yes, that's what I've been doing, but, as I say, they re not paying for themselves. I think I might try laying off the unwanted ones with a very low price (dobbing if you will) and see if I can recouperate something back that way. Thanks Deestar.
brumbie
 
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Re: Betfair SP

Postby alrodopial » Thu Jul 29, 2021 3:17 pm

Dobbing the unwanted will lead you to greater loss than letting them ride to the end (so as backing them at BSP).
This is more true for the high odds ones >@10
Your options are the one that Deestar said, back at x secs before off if price in range at that moment
and
back them very close to off if price is in range at that moment ( requires watching race video)

What are your results (p/l,yield) from the actual bets that you placed and their BSP is between your desired range?
You have the records , you can check if your approach is profitable, start from there
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Re: Betfair SP

Postby brumbie » Thu Jul 29, 2021 10:14 pm

Like I say, I have been going in at 10 secs before off for around 3 months now, and living with the excess bets. Back data suggests that is the way and I will continue to do that. I guess I was just asking if anyone had devised something that tweaks it. We all seem to be agreed that it is better to live with the excess as that is the lesser of the evils. Thanks again chaps.
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