General discussion : minimum BET WITH BETFAIR AUSTRALIA

A place to discuss anything.
Post Reply
convoysur-2
Posts: 1056
Joined: Thu Jan 12, 2012 10:00 am

Fri Jan 12, 2018 4:47 pm

Hi
Has anyone got some experience of betfair australia-
i believe the minimum steak is 5 dollars-
is there a problem betting less than that ? i mean its not like a bunch of 20 cents-just one market where i want to lay by liability and the stakes will be lower than 5 dollars for now- do they close accounts for this type of thing,?the liability on the whole total of lays would be about 200 per market.
Thanks in advance.

spreadbetting
Posts: 1458
Joined: Sun Jan 31, 2010 8:06 pm

Fri Jan 12, 2018 5:50 pm

Think it depends alot if you're an Aussie resident as to whether the Betfair Australia regs affect you. Are you an Aus resident?

They don't impose those restrictions if your betting outside Aus as you'd come under whatever Betfair countries regs you signed up in. In the UK it's still £2 min back and even that's been amended for API bets so you can bet under as long as it's a £10 payout i.e. lay or back £1 at 11.

My bots play the Aus markets and never had any problems with sub £2 closing bets thru the API.

convoysur-2
Posts: 1056
Joined: Thu Jan 12, 2012 10:00 am

Fri Jan 12, 2018 5:54 pm

thanks for your reply spreadbetting,
its an australian account,my daughter is a resident there,
so i just dont want her account closed for some stupid thing

convoysur-2
Posts: 1056
Joined: Thu Jan 12, 2012 10:00 am

Fri Jan 12, 2018 5:56 pm

so if the 10quid thing payout back or lay allies to australian accounts then that will work ?

spreadbetting
Posts: 1458
Joined: Sun Jan 31, 2010 8:06 pm

Fri Jan 12, 2018 6:05 pm

As far as I'm aware it applies to all API software. Basically if the bet is being submitted thru an API vendors software Betfair won't see it as a problem as they expect the vendors to code the new minimums into the software, i.e. you as a user can't be expected to know the software is skirting the rules when you close out a bet and it submits a sub minimum bet. The rules are basically there to stop people using their own software to swamp the system with small bets.

Via an API vendor app should be no problem, I'll see if I can find the new regs as I did have them bookmarked somewhere.

Here you go

Ability to place lower minimum stakes at larger prices

In order to allow customers to bet to smaller stakes on longer-priced selections, an extra property has been added to our Currency Parameters – “Min Bet Payout”.

As currently bets where the backer’s stake is at and above the ‘Min Bet Size’ for the currency concerned (£2 for GBP) are valid. In addition, bets below this value are valid if the payout of the bet would be equal to or greater than the value of ‘Min Bet Payout’ - £10 for GBP. For example, a bet of £1 @ 10, or 10p @ 100 or 1p @ 1000 are all valid as they all target a payout of £10 or more.

Please note: This function is only enabled for UK & International customers and not .it, .es, .dk jurisdictions.


No mention of Aus customers being excluded just Italy Spain and Denmark, all API bets go to the same global address since they got rid of the AUS servers.

http://docs.developer.betfair.com/docs/ ... rgerprices

convoysur-2
Posts: 1056
Joined: Thu Jan 12, 2012 10:00 am

Fri Jan 12, 2018 6:56 pm

thats a fantastic help.thank you very much spreadbetting

User avatar
whimsies
Posts: 57
Joined: Sun Oct 02, 2016 7:37 am
Location: Adelaide

Fri Jan 12, 2018 8:50 pm

I live in australia an use 50c trades for testing strategies all the time with no probs

Post Reply

Return to “General discussion”

  • Information
  • Who is online

    Users browsing this forum: No registered users and 2 guests