What is an offset bet and what does offsetting mean?
Offsetting is simply when Bet Angel places your closing/opposing bet into the market for you automatically, if you place a back bet the lay bet is placed for you, if you place a lay bet then a back bet is automatically placed for you. This can be done either at the same time as your opening bet is placed or only if your opening bet starts to get matched.
With offsetting enabled Not only can it place the opposing bet for you to automatically close your trade but can also calculate the stake required to green up at the same time - called ‘Offset with Greening’.
This means with offsetting you can complete each trade with just a single click - you just decide when and were to place the opening trade and the software does the rest. This is very popular with scalpers who want to get into and out of the market quickly using a minimal number of clicks or in-play traders who want the greening up trade into the market as quickly and with a few clicks as possible.
To use offsetting, you first need to enable ‘Global Settings’ by uncrossing the blue cog icon, then using the dropdown list at the top left of the main banner select the type of offset you want to use.
** You may also wish to use a stop loss with your offsetting, should the trade go against you this will automatically get you out of a trade for a small loss without the need for you to do anything, more about ‘Stop Losses’ can be read here http://www.betangel.com/forum/viewtopic ... 47&t=11746 **
To the right of this is where you specify if you want to place your offset using a number of ticks or percentage from your opening bet.
In this example I’m looking at doing some traditional one tick scalping so have selected ticks and entered 1 for the amount of ticks the offset is to be placed at. To ensure my opening bet is matched before any of the offset is placed I can tick the fill/kill box, and for this will use 10 secs and 1 batch. (See top Image for this set up).
** For more about how ‘Fill/Kill & batches works see thread http://www.betangel.com/forum/viewtopic ... 47&t=11817 **
What this now means is each time I place my trade it will remain in the market for 10 secs if it’s not matched during this time it is killed (cancelled) and I can place another as soon as I’m ready, if it is matched an offset bet with greening is placed one tick away and if that’s matched I will have an equal profit on all runners (or selections) no matter who wins, I can keep repeating this as many times as I want.
Remember all that’s happening with just one click of the mouse to place the opening bet and the software is doing the rest for you.
To have both the opening and offset bets placed at the sametime the same set up can be used except for leaving the 'Fill/Kill' box unticked.
In the middle image I am scalping using the settings above and all I have done is place an opening lay bet for £10 when I felt it was a good scalping opportunity and the offset with greening back bet was calculated and placed automatically for me 1 tick above as soon as my lay was matched, once my offset bet is matched I have made a guaranteed 31p profit no matter who go onto win.
In the bottom image I have changed the number of offset with greening ticks to 5. Here I’ve placed my £10 opening back bet at 5.5 and as soon as it was matched Bet Angel calculated and placed my offset with greening lay bet of £11 at odds of 5.0, if the price shortens I will be greened up and this will give me a £1 profit no matter who wins.
To see an example using offset by percentages and how to setup Bet Angel to do the popular DOBing stratergy with just one click see this thread
http://www.betangel.com/forum/viewtopic ... 47&t=13533
See below for a tutorial video on using the offsetting feature.
https://www.youtube.com/watch?v=oXXA3lY ... l&index=11
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