Moderator: 2020vision
by vilnius » Tue Jun 08, 2010 7:52 am
by MarkRussell » Tue Jun 08, 2010 8:08 am
by vilnius » Tue Jun 08, 2010 8:37 am
by GaryRussell » Tue Jun 08, 2010 9:12 am
The Betfair Sports Exchange tries to match bets against the bets placed by other users as well as equivalent bets where possible. These "virtual" bets follow the rules for cross-matching posted in the Betfair.com Forum. For example, if a customer backs Player A in a tennis match at odds of 2.0, the exchange matches any lay bet at odds of 2.0 or better on Player A. In addition, the exchange also calculates all possible matches that are equivalent to a lay bet on Player A. So, if a customer backs Player B at odds of 2.0 or better, the exchange matches it with the back bet on Player A.
The Betfair website calculates the possible virtual bets that the Betfair Sports Exchange creates and displays those bets as if they were placed by other customers normally. In other words, bets displayed on the Betfair website may be actual bets placed by customers, or virtual bets that the website knows the Betfair Sports Exchange will match due to the cross-matching rules.
At the present time, the API returns only actual bets in the getMarketPrices, getMarketPricesCompressed and getCompleteMarketPricesCompressed services. The API does not include the virtual bets that the Betfair Sports Exchange creates for cross-matching.
The strength of Gruss Software is that it’s been designed by one of you, a frustrated sports punter, and then developed by listening to dozens of like-minded enthusiasts.
Gruss is owned and run by brothers Gary and Mark Russell. Gary discovered Betfair in 2004 and soon realised that using bespoke software to place bets was much more efficient than merely placing them through the website.
Gary built his own software and then enhanced its features after trialling it through other Betfair users and reacting to their improvement ideas, something that still happens today.
He started making a small monthly charge so he could work on it full-time and then recruited Mark to help develop the products and Gruss Software was born.
We think it’s the best of its kind and so do a lot of our customers. But you can never stand still in this game and we’ll continue to improve the software if any more great ideas emerge.