Large Bets and Price Changs

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CharlieMungerJr.
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Hi All,

I was wondering how large price changes come about. For example, say someone places a large back bet at 2.0 which sends the odds down to 1.8. How does this happen instantly? I thought if all lay money was taken at the odds the back bet was placed, the remainder would remain unmatched.

If anyone could provide information on how this happens it would be greatly appreciated, thanks.
LinusP
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Because the backer has asked for <= 1.8, if they asked for 2 anything unmatched would be left at 2.
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ShaunWhite
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If people are just betting on the BF site and they have their Bet View slider pushed up high, they'll only be seeing the price that they can get fully filled at.
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Derek27
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LinusP wrote:
Wed May 16, 2018 3:42 pm
Because the backer has asked for <= 1.8, if they asked for 2 anything unmatched would be left at 2.
>=1.8 :)
LinusP
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Derek27 wrote:
Wed May 16, 2018 4:10 pm
LinusP wrote:
Wed May 16, 2018 3:42 pm
Because the backer has asked for <= 1.8, if they asked for 2 anything unmatched would be left at 2.
>=1.8 :)
Maybe its the wrong way to quantify it but the backer could have asked for 1.01 which is less than 1.8.
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Derek27
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He could have asked for 1.01 but in the example above he would have asked for 1.8 or more, layers ask for a fixed price or less.
LinusP
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Derek27 wrote:
Wed May 16, 2018 4:33 pm
He could have asked for 1.01 but in the example above he would have asked for 1.8 or more, layers ask for a fixed price or less.
I’m lost now, I assumed the OP was describing a large back bet taking out the book to 1.8 (when 2 was available) and questioning how this can happen, obviously not possible if the backer asked for a price >1.8.
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Derek27
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LinusP wrote:
Wed May 16, 2018 6:43 pm
Derek27 wrote:
Wed May 16, 2018 4:33 pm
He could have asked for 1.01 but in the example above he would have asked for 1.8 or more, layers ask for a fixed price or less.
I’m lost now, I assumed the OP was describing a large back bet taking out the book to 1.8 (when 2 was available) and questioning how this can happen, obviously not possible if the backer asked for a price >1.8.
If you place a back bet at 1.8 you are asking for 1.8 or greater - you cannot possibly be given a price less than what you asked. So the bet swept up the money from 2 (>=1.8) down to 1.8 (also >=1.8), but no lower (not >=1.8), and any remaining money would have sat at 1.8.
LinusP
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Derek27 wrote:
Wed May 16, 2018 6:49 pm
LinusP wrote:
Wed May 16, 2018 6:43 pm
Derek27 wrote:
Wed May 16, 2018 4:33 pm
He could have asked for 1.01 but in the example above he would have asked for 1.8 or more, layers ask for a fixed price or less.
I’m lost now, I assumed the OP was describing a large back bet taking out the book to 1.8 (when 2 was available) and questioning how this can happen, obviously not possible if the backer asked for a price >1.8.
If you place a back bet at 1.8 you are asking for 1.8 or greater - you cannot possibly be given a price less than what you asked. So the bet swept up the money from 2 (>=1.8) down to 1.8 (also >=1.8), but no lower (not >=1.8), and any remaining money would have sat at 1.8.
Yes but the price the backer put into his order request was <= 1.8.
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Dallas
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Derek27 wrote:
Wed May 16, 2018 4:10 pm
LinusP wrote:
Wed May 16, 2018 3:42 pm
Because the backer has asked for <= 1.8, if they asked for 2 anything unmatched would be left at 2.
>=1.8 :)
It cant be anything > 1.80 or it wouldn't have taken out the lay money waiting at 1.80
it had to be placed at 1.80 or less (<=1.80)
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Derek27
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Sorry, I see the confusion now between the price asked for and money taken. :)
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Dallas
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Derek27 wrote:
Wed May 16, 2018 7:15 pm
Dallas wrote:
Wed May 16, 2018 7:05 pm
Derek27 wrote:
Wed May 16, 2018 4:10 pm

>=1.8 :)
It cant be anything > 1.80 or it wouldn't have taken out the lay money waiting at 1.80
it had to be placed at 1.80 or less (<=1.80)
What can't be anything > 1.80 ?

The backer asked for 1.8, but that actually means 1.8 or greater. Obviously if money's at 2 it will sweep it up before getting down to 1.8.
If it was placed at 1.81 it would only sweep down to 1.81
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ShaunWhite
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:D
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CharlieMungerJr.
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Thank you for all the responses but I'm still a little bit confused. I'm thinking along the lines of the "mad bomber" etc. where one large bet seems to drastically affect the price and it spikes in one particular direction but this seems to happen almost instantly, rather than as a reaction to the initial large bet. I'm asking because as previous responses have said, once all the money is taken at a particular price, the remainder of the bet will sit at that price unmatched so I don't understand how one bet can cause such a big impact unless it is causing a chain-reaction.
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ShaunWhite
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Like people have said the big bet isn't put in at the current touch price it's put in far enough away for the entire stake to be matched.
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