Hi,
I have a couple of questions regarding offset bets and what happens in the following scenarios:
1. The initial bet gets rejected by Betfair for whatever reason.
2. There is a withdrawn runner.
Do all the bets get cancelled by BA/BF or could you be left hanging in a bit of a pickle.
Any thoughts ?
Questions with offset bets
Hi in my own experience I've noticed that if the initial bet is not matched completely then the offset bet is not placed. For example I set automation to back at 10.0 for £50 and offset bet at 5.0. If only £45 was matched at 10.0 the offset bet wouldn't be placed by the software.
I've had this happen on rare occasions and when I've checked this appeared to be the reason. One way round this is to offset in batches. You could for example set the system to back at 10.0 for £50 with offset at 5.0 with offset in batches selected at say 10. As I understand it the automation would offset the £50 as 10 x £5 so in my earlier example I would have had £45 of my £50 offset.
What I have noticed is that if there is a withdrawal a few minutes before the off, Betfair reform the market your initial bet is resubmitted at lower odds and the offset bet is also adjusted. I try and be available to watch my automated trades and on the rare occasions when there's been a withdrawal I've sometimes cancelled my trade by 'greening/redding' up and resubmitted it manually as I've not always been satisfied with the way Betfair have recalculated things.
I've had this happen on rare occasions and when I've checked this appeared to be the reason. One way round this is to offset in batches. You could for example set the system to back at 10.0 for £50 with offset at 5.0 with offset in batches selected at say 10. As I understand it the automation would offset the £50 as 10 x £5 so in my earlier example I would have had £45 of my £50 offset.
What I have noticed is that if there is a withdrawal a few minutes before the off, Betfair reform the market your initial bet is resubmitted at lower odds and the offset bet is also adjusted. I try and be available to watch my automated trades and on the rare occasions when there's been a withdrawal I've sometimes cancelled my trade by 'greening/redding' up and resubmitted it manually as I've not always been satisfied with the way Betfair have recalculated things.
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BetScalper
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Interesting. Probably need to adjust my strategy as I cant always be around to monitor things.ANGELS15 wrote: ↑Thu Feb 21, 2019 10:54 pmHi in my own experience I've noticed that if the initial bet is not matched completely then the offset bet is not placed. For example I set automation to back at 10.0 for £50 and offset bet at 5.0. If only £45 was matched at 10.0 the offset bet wouldn't be placed by the software.
I've had this happen on rare occasions and when I've checked this appeared to be the reason. One way round this is to offset in batches. You could for example set the system to back at 10.0 for £50 with offset at 5.0 with offset in batches selected at say 10. As I understand it the automation would offset the £50 as 10 x £5 so in my earlier example I would have had £45 of my £50 offset.
What I have noticed is that if there is a withdrawal a few minutes before the off, Betfair reform the market your initial bet is resubmitted at lower odds and the offset bet is also adjusted. I try and be available to watch my automated trades and on the rare occasions when there's been a withdrawal I've sometimes cancelled my trade by 'greening/redding' up and resubmitted it manually as I've not always been satisfied with the way Betfair have recalculated things.
Many thanks for the reply.