Thanks for all your replies however there is still a bit of this I don't get - I am probably being really dense about this and missing the obvious!
I get everything about the matched and unmatched bets etc but the bit I'm missing is why the 'best' back price and best 'lay' price don't overlap.
So in the example below what would happen if someone layed at 1.59 and/or? got matched or someone backed at 1.62 and got matched??
So I suppose my question is what keeps the best Lay price higher than the best Back price??
Hope this makes sense and thanks for your patience!
S
Betfair Back/Lay values
The £67 at 1.61 is someone wanting a BACK bet matched. The words above are not descriptions of the bets below; they are guidance as to which box you should click if you want to Back or Lay.
Last edited by weemac on Wed Aug 01, 2018 3:37 pm, edited 1 time in total.
It's not possible for lay and back bets to overlap because they would get matched. If somebody lays 1.6 for £100 and somebody else backs 1.6 for £75, £75 would get matched leaving a surplus £25 available to lay at 1.6.
In the example you gave, it would not be possible for a lay at 1.59 to get matched because at that moment in time, nobody wants to back at less than 1.61 and there's money available to back at 1.6.
Similarly anyone who backs at 1.62 would get added to the £69 waiting at 1.62, the best backing price available is 1.6.
In the example you gave, it would not be possible for a lay at 1.59 to get matched because at that moment in time, nobody wants to back at less than 1.61 and there's money available to back at 1.6.
Similarly anyone who backs at 1.62 would get added to the £69 waiting at 1.62, the best backing price available is 1.6.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
In you're example
if someone layed at 1.59 it would be added (unmatched) to that £227 and be available for some one to back if they wanted to go that low.
if someone backed £100 at 1.59... they would be given £14 of it at 1.6 and the rest would come off that £227 at 1.59
if someone backed at 1.62... it would be added to that £69 and be available for some one to lay that if they wanted to go that high.
if someone layed £100 at 1.62... they would be given £67 of it at 1.61 and the rest would come off that £69 at 1.62
The don't overlap because if you ask for a price and it's already available at that price or better, the bet will be matched. The table you've attached shows just the money waiting for someone to accept it.
if someone layed at 1.59 it would be added (unmatched) to that £227 and be available for some one to back if they wanted to go that low.
if someone backed £100 at 1.59... they would be given £14 of it at 1.6 and the rest would come off that £227 at 1.59
if someone backed at 1.62... it would be added to that £69 and be available for some one to lay that if they wanted to go that high.
if someone layed £100 at 1.62... they would be given £67 of it at 1.61 and the rest would come off that £69 at 1.62
The don't overlap because if you ask for a price and it's already available at that price or better, the bet will be matched. The table you've attached shows just the money waiting for someone to accept it.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
i think we were all typing at the same time there. 
Last edited by ShaunWhite on Wed Aug 01, 2018 3:43 pm, edited 1 time in total.
It's the basic questions that you feel like answering straight away.
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ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
It's just buying and selling ken. The penny will drop.
I've got apples for sale at £1.60. If you'll pay £1.70 max then you'll get my apples at £1.60. If you'll only pay £1.50 then your order will sit there waiting for someone with apples they'll sell at £1.50 and my £1.60 apples will remain unsold. Offers and acceptance.
I've got apples for sale at £1.60. If you'll pay £1.70 max then you'll get my apples at £1.60. If you'll only pay £1.50 then your order will sit there waiting for someone with apples they'll sell at £1.50 and my £1.60 apples will remain unsold. Offers and acceptance.
Here's an idea 
: If you're still struggling to understand how the market works, find a very quiet market with a massive gap between back and lay prices, such as a USA race hours before off time or one of tomorrow's UK races early evening the night before. Submit £2 back and lay bets at safe prices that are unlikely to be matched.
You'll see them appear in the market and others may place their £2 in front of yours. You can then move your bets around by changing the price and see how it appears in the market.
: If you're still struggling to understand how the market works, find a very quiet market with a massive gap between back and lay prices, such as a USA race hours before off time or one of tomorrow's UK races early evening the night before. Submit £2 back and lay bets at safe prices that are unlikely to be matched.You'll see them appear in the market and others may place their £2 in front of yours. You can then move your bets around by changing the price and see how it appears in the market.