Lay bet offset matching

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jaipal2004
Posts: 42
Joined: Sat Aug 05, 2017 11:33 am

Tue Sep 12, 2017 6:35 pm

Hi,

created a simple bot that essentially lays a horse just after market goes in play and creates a straight offset bet 15 ticks away.

My understanding (being new to Betfair trading) is that this is the opposite of the Back2Lay strategy where you lay in the race for a profit. Therefore, I'd expect that an offset rule with a lay at current price (matched instantly) and then a back bet (again matched in play) would result in a profit.

I am seeing my offset bet get matched but it doesn't work as expected (this is not with greening). My betfair statement shows the below for this race and others. Having spoken to the Betfair CS there's nothing wrong - my profit is cancelling out my loss.

My lay and back bets are both getting matched - so what am I doing wrong?

Thanks for your help - apologies for what may seem like a stupid question.

Jai
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jaipal2004
Posts: 42
Joined: Sat Aug 05, 2017 11:33 am

Wed Sep 13, 2017 10:58 am

What I essentially want to do is mimic what happens when you place a back bet on the ladder and then close it by clicking on the green figures on the horse when you're in profit by laying (except in reverse for this, so lay > back)

Hopefully somebody can help ahead of today's actions - keen to tweak my bot!

thanks

weemac
Posts: 171
Joined: Mon Sep 16, 2013 8:16 pm

Wed Sep 13, 2017 11:02 am

It didn't green because you didn't use 'offset with greening'.

jaipal2004
Posts: 42
Joined: Sat Aug 05, 2017 11:33 am

Wed Sep 13, 2017 11:04 am

weemac wrote:
Wed Sep 13, 2017 11:02 am
It didn't green because you didn't use 'offset with greening'.
Is that the same that happens when I use the ladder on a single horse - backing and then laying in play? I didn't think that was greening - just close the bet before race ended.

Apologies ..... knew to BetAngel and used a competing product (no automatioin) prior to this!

thanks

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