Betfair SP

[zuzuzu]

Hello All. Im new to the game. Just wondering what are peoples opinion on betfair SP? Can they actually guarentee to match any size bet? I've read the q&As but can't understand it. For e.g.... In a competitive handicap race if I fancied a horse around 10s. If in place 20k on at betfair SP.? How does this affect the SP? Or what are the chances of the 20k getting matched around the 10s price?

[Derek27]

Welcome to the forum zuzuzu.

Bets placed at BSP get matched, not solely against other SP orders but money available on the exchange at the time starting prices are reconciled. I would expect the size of your BSP bet needs to be proportional to the liquidity of the market. Placing a £20K BSP bet in a market where there are just a few £1000s of orders at competitive prices may skew the BSP returned and leave you with a poor price. The reason for this is that after your money has been matched at the best available prices the rest of it would get matched at worse prices until its all been matched.

https://promo.betfair.com/betfairsp/FAQ ... kings.html

[zuzuzu]

Thanks for the reply. Is there a way of viewing how much might be matched at sp at a price close enough to the official sp so I could just set up SP for that specific amount

[zuzuzu]

Placing a £20K BSP bet in a market where there are just a few £1000s of orders at competitive prices may skew the BSP returned and leave you with a poor price

Is this presuming that layers hit the take sp price? Is there anyway of knowing

[Derek27]

Thanks for the reply. Is there a way of viewing how much might be matched at sp at a price close enough to the official sp so I could just set up SP for that specific amount

Not that I know of. The near and far prices, as explained in the link above, can give you an idea of where BSP is at the moment, but things can rapidly change as prices generally change in the last few minutes. I've never paid much attention to how much money is in the market at off time because I've usually greened-up and moved on, but the amount of unmatched orders in the market would impact how much you can get on BSP without distorting the price.

[ShaunWhite]

It worries me when new people start taking about being the man who broke the bank at Monte Carlo.
https://youtu.be/Gx1SWS1MFbU

It's reasonable to ask the question, but I hope you're not actually planning to do it.
Luca was always asking how much he could lump on and you could never tell if he was serious!


jeez I just checked and that tune is from 1892 !.... i really do need some more upto date references

[Derek27]

Placing a £20K BSP bet in a market where there are just a few £1000s of orders at competitive prices may skew the BSP returned and leave you with a poor price

Is this presuming that layers hit the take sp price? Is there anyway of knowing

Bizarrely, your post was posted a minute after my reply but appears before mine on the thread!

The layers who take your SP bet won't have to take SP. They could just be laying at the best price when the market suspends before the off, and then their lays will get matched against your SP back bet.

[Derek27]

It's reasonable to ask the question, but I hope you're not actually planning to do it.

If anyone is willing to chuck in a £20k BSP back bet, please let us know in advance. I'll throw in a BSP lay order to help you get matched.

[Derek27]

Luca was always asking how much he could lump on and you could never tell if he was serious!

I think Luca concluded he could make a profit from paper trading the betfair.it site, and just assumed he could scale up 1000-fold if he had access to the UK exchange.

If he had €10Ks to bet with, I reckon some nice looking local Italian girls would have it off him by now.

[zuzuzu]

Thanks all. Appreciate the honesty

[Bear's The Name]

On the subject of Betfair SP, it's usually fairly reliable but every now and then something weird happens that I can't explain. For example, in tonight's 18:09 at Finger Lakes the 2nd fav was trading around 2.5 - 2.8 before the race but returned a Betfair SP of 6.55! The other runners didn't move from their final prices so the overround on the race ened up at 77%. Anyone have any idea why this might happen?

I have bet in thousands of American racing markets and I have seen odd moves but nothing remotely close to that before - can't remember a book ever coming in at under 90% even on the weaker tracks. This wasn't a weak market by the way - 21k+ traded which is on a par with most US action.

[Bear's The Name]

Same thing happened on 22:06 Hawthorne, odds on fav went off 4.62 on Betfair, 66k traded on market (huge for a US race) massively overbroke book and I noticed 3k lay liability on the horse at SP - again huge for USA. The horse won this time (unlike the one at Finger Lakes) so fingers burnt, or someone manipulating market?

I only draw attention to this because it is so unusual. Follow all US Racing, most nights for years and this is unprecedented.

If this had happened on a UK race people would be all over it on the forum but sometimes I wonder if I'm the only person who does the US racing as it doesn't get much discussion.

[chrisyedge]

HI All,

I am really struggling to automated take SP for greyhound markets on unmatched bets. i have tried all i can think of but simply will not trigger. Obviously running in practice wont help as the bet will always match

Help

[spreadbetting]

If this had happened on a UK race people would be all over it on the forum but sometimes I wonder if I'm the only person who does the US racing as it doesn't get much discussion.

Sadly the US markets died a death a long time ago, I'd automate them but the start times are so unpredictable and just guides. The AUS racing by comparison is just perfect for botting they're rarely too far off the scheduled times.

Back in the day the US markets were so active the US racing forum was buzzing thnk a combination of things like PC, more evening racing in the UK and Betfair cutting back on the courses they covered all led to it's death.

[Derek27]

HI All,

I am really struggling to automated take SP for greyhound markets on unmatched bets. i have tried all i can think of but simply will not trigger. Obviously running in practice wont help as the bet will always match

Help

Hi chrisyedge, welcome to the forum.

You're more likely to get help if you start a new thread in the automation section and either post your baf file or explain what you've done.