Forum

FAQs and other general questions are answered here
By Stockylancer
#20691
Hi Rade,
I am having trouble with a lay strategy where I want to lay say the 4th fav. between 2 prices at SP.
I am using a level stake of $30.00 with liability for the lay.
For the initial price i am usding Currently Available Price 10 sec. from start. So what is happening is that the lay bet amount to achieve the $30.00 laibility is being recorded in the unmatched column at 10 sec to go and then at the off the lay bet at SP uses this amount to calculate the final bet which is only a fraction of what it should be. I am running this as a test in simulation mode. How can I achieve the Lay bet being made at the correct amount to achieve the $30.00 laibility?
By Winx19
#20693
I looked at that as well when I started Lay betting and if you are looking at what I think then the liability will be at a $30 bet.
If your selection 4th Fav is at 5-1 then the liability bet will be at $6 so you risk $6 x 5-1 = $30
If your selection wins ( looses ) then your investment of $6 becomes a $6 profit and not the $30 that I think you are looking at.
I think thats what you are looking at, I may be wrong. Let the system run for a while and you will see how it calculates.


Michael
By Stockylancer
#20695
Hi Michael

Thanks for the reply. That's what is happening if I place a matched bet at say 10 seconds before the off. But If I place a SP bet the stake and the win if the
Lay bet is successful is approx. $1.00.
By Winx19
#20697
Yes mate that's the way the Lay betting works. You make little money on the loss (win) side but you make more money when you loose because the loss is added into the recovery bet.
EG:- Sim mode try selecting 1st Fav win bet will equal a strike rate of apx 30% and then do 1st Fav Lay bet will give you a strike rate of apx 60%
I'm running Lay bets at $5 and the return is .50c .79c etc small amounts that add up.
If you run a win bet for $5 be prepared for the recovery bets to add up to bets being placed at $5000 I had one scenario where I checked the system 24 hours later and I had a P/L of minus $78k
User avatar
By BfBotManager
#20709
All BSP lay bets are placed to liability as start price is unknown. That is how Betfair works.

You should remove option to place BSP bets if you wish to have fixed bet size for Lay bets. That could cause high exposure/liability, so make sure you test it carefully in simulation mode first and wish small stakes e.g. $30 at odds of 100 would create liability of $3,000!