why are odds on BF website different to B assistant odds?

[murtibing]

Hi,
If you cross check events, especially where there is little liquidity, the odds on the betfair website are always different, and often widely different to the betting assistant odds.
Why is this?
Nick

[2020vision]

Hi

My guess is because you are seeing (or not) cross-matching that Betfair do?
Check it out in BA - Options>Prefrences>General and see if "Apply cross-matching
formula in recognised markets" is checked (or not)?

Hope this explains it - Michael

[murtibing]

Hi Michael, thanks for your reply.

there doesn't appear to be "Apply cross-matching
formula in recognised markets" or anything that seems like it under the general tab.

i'm running version 1.1.0.65z9b


nick

[2020vision]

OK - in that case you would need to install the beta version...
http://www.gruss-software.co.uk/forum/viewtopic.php?t=7283

This version has many added enhancements and in my opinion pretty stable.
Only use this if you are comfortable with all of BA's features already?

Remember to uninstall the version you have been using up to now. Then re-install.

If you would like to browse beta versions features before you make a decision they are here:
http://www.gruss-software.co.uk/forum/viewforum.php?f=9
Bear in mind that each version only describes the latest additional features at that time.

All the best - Michael

[murtibing]

Thanks Michael.
I'll check out the details on the beta before installing.
At least I now know why it happens.
Nick

[murtibing]

Hi Michael,

I have just found something else on this subject on the web.
A Betfair FAQ in Australia.
http://cross-matching.betfair.com.au/

If the UK site is like the Oz site, Betting assistant cannot display cross matched bets as they are not available via the API.
Do you agree???

Nick

Q: I access Betfair via the API. What changes will I need to make to my strategy?
A: You won't have to make any changes. The available unmatched bets in each market will be represented via the API in exactly the same way they are now. We're only changing the way bets are displayed on the Betfair website.

Q: Is Betfair now "active" in these markets/are Betfair running a bot?
A: What we've changed is a core part of bet matching. When we get a bet request we're now looking at all the customer bet requests it could be matched against, not just opposing bets on the same selection. It would be misleading to describe that as being a bot, or Betfair being "active" on our markets, as matching customer bets is what Betfair does.

As part of the cross-matching process, Betfair uses an internal account which acts as a counterparty to the bets being cross-matched. The cross-matching process may result in a small amount of residual funds remaining in the internal account in some instances. This residual may occur because Betfair only matches customer bets at discrete odds intervals.

Any residual funds that accumulate in this internal counterparty account as a result of the operation of cross-matching on Australian markets will be provided back to customers through periodic distribution of these funds, in a manner that is approved by the Tasmanian Gaming Commission.

[2020vision]

Sorry to say but I am not particularly clued up regarding cross-matching...

As I said if you install beta version and alter settings in BA accordingly you
will see cross-matching in "recognised" markets - highlighted yellow in the grid
interface.

These links may also help you get a fuller picture:
http://gruss-software.co.uk/forum/viewtopic.php?t=3845
http://www.gruss-software.co.uk/forum/viewtopic.php?t=7011&highlight=cross+matching
http://www.gruss-software.co.uk/forum/viewtopic.php?t=7267&highlight=cross+matching

Or perhaps somebody wiser may explain more?

Ttfn - Michael

[negapo]

murtibing
Check out this link:

http://bdp.betfair.com/index.php?option=com_content&task=view&id=237&Itemid=62

It explains how to calculate the Virtual Odds. This is how BA does it when it thinks that betfair is applying Cross Matching. The API doesn't return this Virtual Odds but it is fairly easy to calculate them.