Automation for BSP

[BigJ]

Hi

There is an available bot to back or Lay SP. In the notes for said bot, it says keep the odds as close to the odds you are betting at because of the way Betfair works with SP.

I'm laying odds of 1.3 - 15.0 depending where would be best to set the lay bet odds?

Also how does Betfair work with SP?

Thanks

Jordan

[ShaunWhite]

I would choose to place the bet at the current price offset +/- by a certain number of ticks or a %age above/below the current price.
That will accommodate the wide range of prices you are trading at. How far away you place the bet will depend on how much movement you might expect between the time you place it and the start of the event.

[BigJ]

Thanks Shaun at what point would you place this type of bet? I'm looking to get SP or lower as i'm laying. The automation bot that Dallas put up seems to be the best way.

I'm open to different bot's. I essentially want Lay horses in every race at SP to a max liability of say 50 pound. The problem if I just take SP is that i sometimes don't get fully matched to my liability. Long term this will kill my strategy.

If i require to be fully matched at SP or lower to a £50 liability what do I need to do?

Thanks

[ShaunWhite]

To get sp you'd place the bet shortly before the start of the event and a rule in the automation would change its status to 'take sp'. If you do this then it should all be matched.

If you want less than sp then you would either need to place the bet after the start or change the status of the pre-off bet to 'keep' instead of 'take sp', but getting it all matched is not guaranteed.

[BigJ]

Happy with just SP but need to get fully match or at least 95% matched.

I'll stick with the automation bot @dlaas added in the shared files. I'm just wondering what is the best lay odds to set up? The bot defaults to 1.01 but in Dallas notes he says to get as close to the odds you are betting on as possible because of the way betfair SP works. I'm laying odds between 1.3 and 15.0 so i guess set at 1.15?

[ShaunWhite]

Happy with just SP but need to get fully match or at least 95% matched.

I'll stick with the automation bot @dlaas added in the shared files. I'm just wondering what is the best lay odds to set up? The bot defaults to 1.01 but in Dallas notes he says to get as close to the odds you are betting on as possible because of the way betfair SP works. I'm laying odds between 1.3 and 15.0 so i guess set at 1.15?

I'm not familiar with that particular bot. I'll have to leave Dallas to comment about exactly what to change.

[Dallas]

The reason for doing it the way described in the post was if you placed the lay at 2.0 for £10 that would mean a £10 liability if the BSP was 5.0 a lay bet of just £2.50 would be used (so as to achieve that same £10 liability)
hence the reason to place it as close and late as possible to the price so that you get somewhere very near the stake you have chosen.

If you changed the staking method to 'by liability' then you could lay at any odds below the price and the stake amount would be calculated using the BSP to achieve your liability

[BigJ]

Thanks Dallas and Shaun - all clear now.

Jordan

[BigJ]

Hi Dallas

The bot triggered on all races except one. I'm just wondering why it didn't trigger. Looking back at the race Beepeecee in the 9pm at Chelmsford was fairly slow away so the odds dropped instantly. What is strange is the first part of the bot was triggered but the 2nd part wasn't. The bot was set up the same and worked on all other races perfectly.

Thanks

Jordan

[BigJ]

It's happened again. First part is triggering but not the "take sp" part. Have deleted and started again hopefully will work this time.

[Dallas]

What was the liability on those it did not trigger on?

For SP lay bets the liability must be £10GBP or currency equivalent or Betfair will not accept it

[Bear's The Name]

Yes, the £10 minimum for Lay bets is quite annoying as I place many small lay bets close to the off which don't meet the criteria, especially on longer priced runners.

Strangely , Betfair doesn't enforce this rule on Back bets where it will quite happily match a tiny bet e.g. 10p at SP.

Most of my bets (about 80%+) get matched before the off, for the remainder I use the KEEP option but set it to cancel after 30 seconds. Any longer and I feel I'm not getting value in-play as I'll get fully matched on every winner but not some losers.

[Dallas]

Strangely , Betfair doesn't enforce this rule on Back bets where it will quite happily match a tiny bet e.g. 10p at SP.

That is strange, the minimum SP for a back bet is £2 so not sure how/why they are letting ones below that go through

[weemac]

And you can lay one penny at BFSP 1000, but you can't lay £333 at 1.03 BFSP

[Bear's The Name]

Yes, I've never had any problem getting back bets down to as low as 1p accepted at SP using automation. Have you tried it, Dallas?