Large Back Bets In Play

[easternpromise]

Hi all,

I just wanted to know more about uthe dynamics of betfair......

If I was to make a large back bet in play on a horse that was looking like it was about to win,

are the risks too high for my stake not to get accepted with the odds changing so quickly?

does it help to back at "back odds 1", or would that not help?

[GaryRussell]

You need to understand what Betfair call "best execution".

Example
The following odds and amounts are available to back.
1.5: £10
2.0: £7
2.5: £5

If your stake is £22 and you click on 2.5 then you risk only getting £5 matched as that's all there is available. If you click on 1.5 you may get £10 matched at 1.5, £7 at 2.0 and £5 at 2.5. Even if you request odds 1.01 you will still get matched at these prices providing they are still available when Betfair process your bet.

So you have to to decide on the lowest odds you want to risk getting matched at. You could just always back at 1.01 and you will get the best odds available but you risk only getting 1.01 if that is all there is available when Betfair process your bet (a lot can happen during the 1 second delay).

You can use the override odds feature to always request the same odds regardless of what prices you click on. See the user guide in the help menu for details of the override odds feature.

[easternpromise]

Thanks gary,

thats much clearer.

If betting on the SP in play, does that increase the chances of the bet being excepted or do SP odds just operate the same.

[GaryRussell]

You will always get your full stake matched if you place an SP bet, but SP bets have to be placed before the off.

[easternpromise]

Thanks Gary, for your help

[dgs2001]

Just to add, you may not always get your stake matched if setting sp odds limits.
Even if your limit is the same as the Betfair sp if there is not enough layers money then your sp bet could remain unmatched and be cancelled.

Duncan

[easternpromise]

Going back to Garys answer.

If I was to back a large amount at 1.01, but put it into the market when the runner hit a back price of 1.5 say.

Would my bet have a better chance of being accepted as betfair would keep my bet amount in play and match the prices as the price changes

e.g bet £300 @ 1.01 when horse hits 1.5.

1.5: £80
1.2: £50
1.16: £10
1.12: £82
1.08: £40
1.01: £38