Reversing the book Using Odds Display
If you are looking to trade the market using the one-click or manual bet grid screens it makes sense to ‘reverse’ the book. The market is efficient so playing at normal prices means you have to ensure a very good strike rate together with a good reading of the market. If you reverse the book it allows to ask for a price or offer money to the market rather than take a price being offered by someone else which is how most Professional traders will approach things.
To reverse the book select the ‘Odds Display’ drop down menu. When you click on this menu you will see several options.
Normal Nothing will change, this is the same as the layout on Betfair's website
Back The order boxes will turn Blue and only back orders will be placed.
Lay The order boxes will turn Pink and only Lay orders will be place.
If you select the reverse option the book will ‘flip’ over and now the screen will offer you the chance to back at the current lay price and lay at the current back price. Any orders placed will most likely be unmatched when they reach the market. The reason you may want to reverse the book is to enable you to get your order filled at a better price.
Normal Odds = Take best price instantly.
Reverse Odds = Offer price to market and wait for it to be matched.
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To back France at 2.12 click on the blue 2.12 box and your stake would be queued behind the £29460 already waiting to back France at those odds.
To offer a lay on Portugal at 4.4 clicking in this pink box would add your lay bet to the £3260 already waiting to lay Portugal at those odds.
Using the normal odds display lets you take the best current price of a selection, clicking on any of the pink boxes places a lay bet at these odds - but remember Betfair will always match you at the best available odds, so if laying France clicking on either 2.16, 2.14 or 2.12 will see your bet being matched at 2.12 - as these are the current best odds.
Pro Tip: Betfair's market is structured such that you will always get the best price on offer. If you ask to back at 2.60 and 2.62 becomes available then you will get the better price. If you ask for 2.62 and only 2.60 is on offer you will have to queue until your order is matched. The method for Lay bets is similar. If you offer to lay at 2.62 and 2.60 is available then you will get the better price. If you offer to lay at 2.60 but the price is at 2.62 (or any price above 2.60) you will once again have to queue.
When trading on the ladder screen you can ask for or take a price while using either the normal or reverse odds display, there is however still a couple of notable differences when using reverse or normal odds display. The most obvious difference is a change in column colours the second is where you actually click the mouse cursor to place a bet. Looking at the image below of the same selection (reversed and normal) money waiting to lay a selection is always shown on the left and money waiting to back on the right.
On both ladders below a £100 back bet has been asked for above the current price at odds of 2.28
A back bet is always placed in the blue column corresponding to the odds required (the image shows which box was clicked to place this bet) to back at the best current price for an instant match the blue box at odds of 2.10 would have been clicked as shown in the image - or any blue box below this.
Pro Tip: Do not get confused when you reverse the book. The money available in the market at each price point is the same, you are just controlling whether Bet Angel places back or lay bets at a given price. i.e. You are controlling whether you wish to match against available money in the market or whether you wish to offer your bet to the market and wait for someone else to match it.
Video Tutorial
