whats happening here? horses at low odds

[firech8787]

apologies for my naivety, I'm rather new to trading.

looking at todays races and every horse on every course (UK) seems to have a large amount of money sitting at very low odds.

what is the strategy they are doing? I've attached a screen shot which shows roughly £40k sitting at 1.01.

are they backing the horse at this price or are they laying it?

does seem like a nice se and forget method if they are just aiming for a 1% return on each race.

any help would be warmly welcomed.

Chris

[Dallas]

People offer lay money at the lowest prices as soon as the market opens for one of 2 reason

1) hoping to catch someone mis clicking (fatfinger) before the market starts to become more formed
2) so they have good queue position for when a market goes in-play, many selections will hit 1.01 before going on to lose but the amount that gets matched can vary before the odds shoot back out, so having your money in earlier gives you the best chance of being matched

[firech8787]

Thanks Dallas for the quick reply.

So I've got it correct, they are placing bets just as the market opens by laying all horses at odds of 1.01, hoping to be matched and for the horse to be beaten.

This strategy involves incurring small losses multiple times, with the expectation of a significant payoff when the leading horse is beaten right at the last minute.

Is this done by a bot or automation?

can it be successful?

chris

[conduirez]

Thanks Dallas for the quick reply.

So I've got it correct, they are placing bets just as the market opens by laying all horses at odds of 1.01, hoping to be matched and for the horse to be beaten.

This strategy involves incurring small losses multiple times, with the expectation of a significant payoff when the leading horse is beaten right at the last minute.

Is this done by a bot or automation?

can it be successful?

chris

As my nan use to say, you don't get a queue at a Bus Stop for no reason,

[jamesedwards]

Thanks Dallas for the quick reply.

So I've got it correct, they are placing bets just as the market opens by laying all horses at odds of 1.01, hoping to be matched and for the horse to be beaten.

This strategy involves incurring small losses multiple times, with the expectation of a significant payoff when the leading horse is beaten right at the last minute.

Is this done by a bot or automation?

can it be successful?

chris

The closer you are to the front of the queue at any price the better value you will get. IMO you're unlikely to win long term just by sticking up 1.01 unless you are also managing the position manually in-race to limit losses.

[megarain]

As my nan use to say, you don't get a queue at a Bus Stop for no reason,


Wise lady

[jamesedwards]

Thanks Dallas for the quick reply.

So I've got it correct, they are placing bets just as the market opens by laying all horses at odds of 1.01, hoping to be matched and for the horse to be beaten.

This strategy involves incurring small losses multiple times, with the expectation of a significant payoff when the leading horse is beaten right at the last minute.

Is this done by a bot or automation?

can it be successful?

chris

As my nan use to say, you don't get a queue at a Bus Stop for no reason,

[firech8787]

thanks guys appreciate it.

how far in the future do the markets open for the race?

would the people doing this 1.01 laying doing it all manually or have bots?

cheers

[LinusP]

thanks guys appreciate it.

how far in the future do the markets open for the race?

would the people doing this 1.01 laying doing it all manually or have bots?

cheers

Those making money will be automated, you need to be in the first ~250 to make money (@1.01)

[jimibt]

thanks guys appreciate it.

how far in the future do the markets open for the race?

would the people doing this 1.01 laying doing it all manually or have bots?

cheers

Those making money will be automated, you need to be in the first ~250 to make money (@1.01)

and would that be all about having the lowest latency between your server and the bf servers??

[jamesedwards]

I strongly suspect that Betfair pre-loads markets with liquidity-provider/partner volume as they are published. Even if you happen to catch a market right as it appears it always will have the usual opening volume sitting there at the bottom end.

[jimibt]

I strongly suspect that Betfair pre-loads markets with liquidity-provider/partner volume as they are published. Even if you happen to catch a market right as it appears it always will have the usual opening volume sitting there at the bottom end.

interesting. always looking for a lazy option, but [paraphrasing conduirez] looks like this one has been well covered since adam was a lad!!

[LinusP]

and would that be all about having the lowest latency between your server and the bf servers??

Yeah, it’s a race.

I strongly suspect that Betfair pre-loads markets with liquidity-provider/partner volume as they are published. Even if you happen to catch a market right as it appears it always will have the usual opening volume sitting there at the bottom end.

No