Australian racing

[NickH]

Thank you very much for that one. Exactly what I needed Derek!

[iambic_pentameter]

Hi Nick,

Try this as well:

viewtopic.php?p=222709

Iambic

[NickH]

Thanks, will certainly take that one in to account when moving on to the software as I am currently not using Betangel. Although I understand that might sound stupid, priority for me is now to get the psychology part of trading first right before moving on to this one

[Anbell]

Scheduled outage
Wednesday 8th July from 0845-0915 BST
which I think is 5.45pm-6.45pm AEST today
https://forum.developer.betfair.com/for ... 5-0915-bst

[Lutruwita]

Weird?

I have not received an email/sms. There's nothing on Betfair's twitter page and races between this time are listed (they usually aren't).

[Derek27]

Scheduled outage
Wednesday 8th July from 0845-0915 BST
which I think is 5.45pm-6.45pm AEST today
https://forum.developer.betfair.com/for ... 5-0915-bst

It might be a good idea if we start a separate thread for maintenance/outages that are 'scheduled' by Betfair, but more importantly, unannounced and totally unexpected by people who use the exchange.

I'm often the first to report a major outage on the Betfair down thread but feel like the last (or perhaps the 2nd ) to hear about outages - stream information into one place.

[Anbell]

More:
" additional info for this evening's outage. You can expect:
* two 60 second period where bet placement with fail with ERROR_IN_MATCHER
* a pause on the Market Stream API where the documented status 503 error will be returned"

[Naffman]

More:
" additional info for this evening's outage. You can expect:
* two 60 second period where bet placement with fail with ERROR_IN_MATCHER
* a pause on the Market Stream API where the documented status 503 error will be returned"

Nice, very much looking forward to that

[firlandsfarm]

For traders I can see it hurts but it would just about kill any betting system.

Bettors would be unaffected by turnover charge because they will generate more than 1.25% commission on turnover by generating 1.5% commission on losers and usually more on winners, which excludes them from the charge. The 10% commission though, would kill any small-margin betting system.

Thanks for clarifying Derek, I'm working on a small-margin system just now and assuming an average of 8% commission for the first pass!

[Anbell]

The 10% commission though, would kill any small-margin betting system.

Thanks for clarifying Derek, I'm working on a small-margin system just now and assuming an average of 8% commission for the first pass!

Of course, we have to remember that the commission is only on winnings/race, so if you have a successful 'small margin' system that wins 1% POT net of 8% commission, it would still be valuable at 10% commission.

[firlandsfarm]

Of course, we have to remember that the commission is only on winnings/race, so if you have a successful 'small margin' system that wins 1% POT net of 8% commission, it would still be valuable at 10% commission.

Anbell don't forget that you effectively pay commission on your losses with the winnings that cover them! So if you made a profit of 1 point after 8% commission on total stakes of 100 points and let's say you have a 25% strike rate so you would have enjoyed 25 winning bets at 1 point stakes returning 82.61 gross winnings which net down to 76 points after 8% commission, offset the 75 losing bets gives you a 1 point profit. But if the commission rate was increased to 10% your commission deduction would be 8.26 points giving net winnings of 74.35 points which after deducting the 75 losing stakes gives the system a loss of 0.65 points!

It's a common misunderstanding of the effect of commission when using an exchange. "You only pay commission on your winnings" depends on how you define your winnings! "commission is only on winnings/race" is of course correct but because a long term profit is produced at X% commission does not mean there will still be a profit at a higher Y% rate. Your long term commission is effectively …

total commission = (system profit + losing stakes) x Comm%

[Naffman]

Big lumpy bets on early cairns r8

[Naffman]

Big lumpy bets on early cairns r8

Can't get enough on, already 30k 8 mins out on a CL2

[Anbell]

Of course, we have to remember that the commission is only on winnings/race, so if you have a successful 'small margin' system that wins 1% POT net of 8% commission, it would still be valuable at 10% commission.

Anbell don't forget that you effectively pay commission on your losses with the winnings that cover them! So if you made a profit of 1 point after 8% commission on total stakes of 100 points and let's say you have a 25% strike rate so you would have enjoyed 25 winning bets at 1 point stakes returning 82.61 gross winnings which net down to 76 points after 8% commission, offset the 75 losing bets gives you a 1 point profit. But if the commission rate was increased to 10% your commission deduction would be 8.26 points giving net winnings of 74.35 points which after deducting the 75 losing stakes gives the system a loss of 0.65 points!

It's a common misunderstanding of the effect of commission when using an exchange. "You only pay commission on your winnings" depends on how you define your winnings! "commission is only on winnings/race" is of course correct but because a long term profit is produced at X% commission does not mean there will still be a profit at a higher Y% rate. Your long term commission is effectively …

total commission = (system profit + losing stakes) x Comm%

All true

[Derek27]

Trading early, you can get 10-15 ticks at Scone and get the most out of your chips.