Hi all
Have been out of the trading/betting/sports world for quite a while with all that's gone on this year! But with the resumption of some sport in places I'm just tinkering around with ideas and wanted to ask a couple of questions on bookmaking - both in theory and using betangel.
I get the basics of book percentage and I've used the bookmaking feature of betangel a bit. Interestingly today I only just found the info about the green-up restriction while using the bookmaking function and now I know why the green-up shows N/A!
However - this interesting statement leaves me with questions: "When dutching or bookmaking, it is often more efficient to complete the book than close the positions via the one-click green-up routine".
What does "complete the book" actually mean in this context? I'm am looking at slower-moving markets with a lot of runners - golf is a good example.
Not looking to derive specific strategies but rather to understand the principles of "completing the book" - if that makes sense.
Hope everyone is well in this crazy 2020 world!
Bookmaking Question
It means go into the manual tab and lay off your greens to bring your reds up into the green or back your reds to reduce liability.Cards37 wrote: ↑Mon Jun 15, 2020 4:22 amHi all
Have been out of the trading/betting/sports world for quite a while with all that's gone on this year! But with the resumption of some sport in places I'm just tinkering around with ideas and wanted to ask a couple of questions on bookmaking - both in theory and using betangel.
I get the basics of book percentage and I've used the bookmaking feature of betangel a bit. Interestingly today I only just found the info about the green-up restriction while using the bookmaking function and now I know why the green-up shows N/A!
However - this interesting statement leaves me with questions: "When dutching or bookmaking, it is often more efficient to complete the book than close the positions via the one-click green-up routine".
What does "complete the book" actually mean in this context? I'm am looking at slower-moving markets with a lot of runners - golf is a good example.
Not looking to derive specific strategies but rather to understand the principles of "completing the book" - if that makes sense.
Hope everyone is well in this crazy 2020 world!
So, let's say its golf before the cut and you've got 132 players, you tried to make a book, but you haven't laid them all because there are drifters (and their will be).
Alternative 1. Go the manual tab and sort by p/l. You probably haven't laid those that have been drifting and they'll all be green. Use the green up function to green up against all those in profit (you may wish to adjust how much you green or green all of what is in profit against the rest of the field).
Alternative 2. Use either the dutching or bookingmaking tab. Lets say you are red $40 on about 50 selections and green on all the rest. In bookmaking set your stake at say $45 (you want to come out with a $5 profit) and then choose to lay by ticking all those that are green. Carefully assess the liability that will produce for each selection. Or use dutching in a similar way to back all those that are red to see how much stake you need. Again carefully assess before your "press the button".
Warning. If there is a non-player and BF don't adjust the book, pray to your religious deity or just be sanguine, move along nothing to see here. Gazuty out.
Further to this, while there is a ton of easy reading material on framing an initial book, there seems to be precious little on how to manage / balance it once initial bets have started to be taken. Can anyone point me in the right direction of some reading material?
Many thanks in advance
Many thanks in advance