Offset bet with greening - unable to place lay bet

[Kafkaesque]

Hi All,

First time poster. Have had a look around, but cannot see this topic/problem being mentioned.

I've set up an automation to back several selections in a number of different markets, with a setting of offset bet with greening by 1 tick. Very occassionaly though, the result is "Unable to place lay bet on XXX at 5.8. The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit)."

Is there a way to get it to keep firing the offset bet, so that it'll get greened up?

I should mention, I set up with more markets, than my bank can handle (initially), so I need can leave it alone for a while. Is there a way to have automation rules only being applied one by one, as the balance/bank allows it? Just as a possible (part of) the solution?

[Dallas]

Have you tried using fill/kill to ensure the offset is not placed until your opening bet is matched?

Automation cant check you balance prior to triggering a bet its only when it reaches Betfairs servers that it will be rejected if insufficient funds are available to cover it

[Kafkaesque]

Hi Dallas,

I am already using fill or kill.

[Dallas]

Hi Dallas,

I am already using fill or kill.

In that case you will be able to green up individual selections so to stop other bets being triggered and rejected you could use a 'number of unmatched bets condition' on market but really the best advice would be to lower your stakes or increase you bank, trying to trigger additional bets when you know others may have taken up most or all your available balance will lead to serious problems sooner or later

[Kafkaesque]

To expand, problem isn’t the offset being placed to soon, but rather what happens occassionally with more than one selection in the automation. Having had a look at how different markets responds, I feel the problems because it’s a three outcome market, and what happens in the rare instances when my criteria are met for all three.

As an example.

Selection 1: Back at 1.16 for 100
Selection 2: Back at 9.6 for 100
Selection 3: Back at 34 for 100

Exposure 200

Selection 1 and 2 gets matched, and the offset bets are placed at 1.14 and 9.4.

Exposure still 200, so fine.

Selection 3 gets matched, and the exposure is tempararily down to 184. By placing the offset lay at 32, the exposure goes back up to 193.75 (whereas in a market with more selections, it would always remain at 300). Thus, my thinking is the problem arises if another market fires in a back bet and using the remaining bank/balance and 16 just added by going from 200 to 184, before the offset is placed. But I could be wrong? If not, any brilliant inputs for a workaround?

[Kafkaesque]

Hi Dallas,

I am already using fill or kill.

In that case you will be able to green up individual selections so to stop other bets being triggered and rejected you could use a 'number of unmatched bets condition' on market but really the best advice would be to lower your stakes or increase you bank, trying to trigger additional bets when you know others may have taken up most or all your available balance will lead to serious problems sooner or later

Well, that would be the obvious solution. Number of unmatched bets is set as well, though. As you touch upon here, and I do in the above post, the problem is more in other markets going active and chipping away the needed available balance.

As much as only having the number of markets, the balance can handle, is the obvious getout, then pretty much the only selling point of this product, for me, is the ability to set up markets to go active, and thus continiously maximising use on ones bankroll, without manually having to do so. If the need is to start up a new market each time a part of the bank is released, the product loses its essential value to me, as I'd be better off trading manually as well in that case.