Forum Article

Delay in placing bets

In in-play tennis markets, there are usually bounces in price until they settle. This is best seen after break points, breaks or sets.

Now, I wanted to set up action bots that execute when market is settled.

I can do that with Place Bet bot by using MaximumOddsDifference parameter, which would wait for the difference in price to be what I want and that’s fine. However I cannot do it with Close Selection Bet Position bots.

I want to hedge my position using Close Selection Bet Position At Odds bot and, currently, when I use it, it places the bet at a certain price, then the price changes and it places the bet at current price, but with the same amount, thus somewhat closing my position, yet not actually hedging.

Basically, I need to hedge when prices are stable.

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Comments ( 1 )

  • Stefan
    24.4.2016 18:40:45

    “Close Selection Bet Position At Odds” places a bet at current offered odds when you set the Odds parameter to 0, so this bot actually does not check your target odds in such case.

    Similar to Place Bet ... bots Min/Max odds difference feature, this bot offers the parameter CheckingLastPriceTraded (by default set to true, so this feature is active) and with the parameter CheckingLastPriceTradedDifference to place your bet only when odds difference between last price traded and current offered odds is <= CheckingLastPriceTradedDifference, so it waits till selection prices settles, as when odds rapidly changes mostly it is because offered bets are cancelled.

    You can use the parameter BetMatchingTimeout to set the time the bot will wait for your bet to be matched.

    You are not right, when price/odds changes the bot cancels your bet and a new bet is calculated for new price/odds, so stake cannot be the same. I think you did not realize that on any bet placed on betfair is applied best execution rule, your bet is matched at better odds if such odds is offered at the moment your bet is processed by betfair matching algorithm, therefore correctly hedged bet size will result in not balanced bet position.