Automatic 1.01 Buyer

[Drizzlyexpert]

I am looking for a 1.01 automatic buyer. Does anyone have that kind of setup?

[LinusP]

Are you able to expand on what markets? Also do you mean layer when you say buyer? You can create a simple program that communicates with the API-NG and get it to loop through markets but there is no guarantee that you will be first

[Drizzlyexpert]

These are my settings and the software sometimes backs for example @5 or even @17.5 odds... I want it to buy all 1.01 odds

[LinusP]

Why an earth do you want to do this? You can only back at 1.01 if 1.01 is the only odds available, so you need to add a condition to the automation.

Back price = 1.01

The problem is that sometimes markets will have only money at 1.01 as there is no volume and they have just been opened. You could add another condition:

Last Traded Price = 1.01

But I could very easily manipulate your bot by backing my own money at 1.01. So I don't recommend this strategy...

[gazuty]

Lay at 1.01 I could understand.

Back at 1.01 - you are on your way to the poorhouse.

As Linus said, in designing any bot you need to think about manipulation and build in rules to prevent that.

[mklim_irlpl]

what is the probability of 1.01 back bet vs 1.01 lay bet being matched?

[burdo77]

Back at 1.01 more chance or getting matched
laying at 1.01 @#$%-all chance getting matched, unless you have a very fast connection.....

[mklim_irlpl]

Would you know how many
1.01 back bets
and
1.01 lay bets
are won in horse racing?

[LinusP]

You can find out how many bets were matched at 1.01 from historical data but only betfair know if they were backs or lays.

[spreadbetting]

Would you know how many
1.01 back bets
and
1.01 lay bets
are won in horse racing?

Just ran a query from 75,100 UK/IRE win market records, 980 traded at 1.01 and lost

[gazuty]

Would you know how many
1.01 back bets
and
1.01 lay bets
are won in horse racing?

Just ran a query from 75,100 UK/IRE win market records, 980 traded at 1.01 and lost

If you back 100 at 1.01 75,100 times and win 74120 times you will income of $70,414 (and betfair will have $3,706). And on the 980 times you lost -$98,000.

You just lost $27,586.

If you layed at 1.01 all of those events, you will still probably not be in front. You see, you won't get matched at 1.01 on all of the 980 losers because there will be too much money in front of you.

Finally, some free advice to everyone reading this (and I learned all this with real money - for me it's the best teacher) there are profitable levels above 1.02 and below 2 where you can lay all. What are those levels? Do your research.

Of course if you enter the market at the same point as others, the market changes and you and I might all become unprofitable at that point. Everything influences the market.