SP Questions

[easternpromise]

Hi Everyone,

I have been looking into horse SP betting, and trying to learn how it works. Could you help with a couple of questions.

1. Can you place bets on the SP odds after the race has started?

2. If not then, can you place the bets when the race starts i.e when my excel spreadsheet switches to "In Play"

Thanks

[GaryRussell]

Hi Everyone,

I have been looking into horse SP betting, and trying to learn how it works. Could you help with a couple of questions.

1. Can you place bets on the SP odds after the race has started?

2. If not then, can you place the bets when the race starts i.e when my excel spreadsheet switches to "In Play"

Thanks

1. No. Imagine if you could place bets at SP half way through the race when the lay odds are potentially half the SP. If you could do this you'd be a PC2 payer in no time

2. SP bets have to be placed before the race is turned in play. Once it reads "In Play" it's too late.

You can use BACKSP and LAYSP triggers. With BACKSP the odds column sets the minimum odds you will accept. With LAYSP the odds column sets the maximum odds you will accept and the stake column sets your liability.

When the market turns in play Betfair reconcile the SP bets and it is at this point that your bets are matched. For lay bets the stake is adjusted to match your requested liability. The minimum stake for back bets is £2 and the minimum liability for lay bets is £10.

[Captain Sensible]

No and no, the SP is reconciled i.e. BSP figure is calculated using bets placed pre off. Be nice to place bets after the event but like knowing who'd won the race

[easternpromise]

Thanks guys I thought as much.

Is there any way to place the bets right at the last minute before the off, with actually watching the race.

I just wondered if there are any indicators as to when the race is about to go in play.

Thanks

[GaryRussell]

Thanks guys I thought as much.

Is there any way to place the bets right at the last minute before the off, with actually watching the race.

I just wondered if there are any indicators as to when the race is about to go in play.

Thanks

There are no indicators apart from the scheduled start time. You could use the following formula which will give the number of seconds until the scheduled start time and incorporate this in your trigger. eg. if you put the formula in cell Z1 then you could use. =if(z1<=30,"BACKSP","") to trigger the bet 30 seconds before the scheduled start.

=IF(LEFT(D2)<>"-",(HOUR(D2)*3600)+(MINUTE(D2)*60)+SECOND(D2),-((HOUR(SUBSTITUTE(D2,"-",""))*3600)+(MINUTE(SUBSTITUTE(D2,"-",""))*60)+SECOND(SUBSTITUTE(D2,"-",""))))

[easternpromise]

I have noticed that sometimes the LAYSP bets are matched at a lower liability than I requested.

Why does this happen

[GaryRussell]

I have noticed that sometimes the LAYSP bets are matched at a lower liability than I requested.

Why does this happen

Sorry, no idea. I wasn't aware that did happen. Are you sure about the liability you requested? Next time check the odds in the transaction log under the account menu. You can also check betting history on Betfair's website. If you can see confirmation of the liability you requested you can then query it with Betfair customer services.

[Captain Sensible]

That'll be due to non runners, reduction factors are also applied to the BSP

[GaryRussell]

That'll be due to non runners, reduction factors are also applied to the BSP

Thanks CS. It didn't occur to me that it could could also affect SP bets. So the liability was reduced before the SP was reconciled. That makes sense.