Take Start Price

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sflegg
Posts: 9
Joined: Sat Jun 24, 2017 2:48 pm

I'm getting a little confused about Bet Angels' Take Start Price function.

My understanding is that on all betfair markets if the start price gets struck at a more attractive price than your unmatched bet on the exchange then the unmatched bet will be automatically sucked into the start price market and matched. I.e. I'm wanting to back at $4 and the BSP is struck at $4.2; so my $4 trade gets automatically sucked into and matched in the start price market.

Assuming my understanding of how it works is correct - then what exactly does the 'take start price' function do? Does is mean that my unmatched bet at the time the event starts is pushed in the start price market and that I may possible get a less attractive price then the limit on my unmatched bet? And if my unmatched is flagged as 'cancel' which is the default does it mean that my unmatched bets miss out on potentially being matched in the start price market; even when the start price is at a more attractive level then the limit on my bet?
sa7med
Posts: 800
Joined: Thu May 18, 2017 8:01 am

sflegg wrote:
Sun Jun 16, 2019 11:23 am
I'm getting a little confused about Bet Angels' Take Start Price function.

My understanding is that on all betfair markets if the start price gets struck at a more attractive price than your unmatched bet on the exchange then the unmatched bet will be automatically sucked into the start price market and matched. I.e. I'm wanting to back at $4 and the BSP is struck at $4.2; so my $4 trade gets automatically sucked into and matched in the start price market.

Assuming my understanding of how it works is correct - then what exactly does the 'take start price' function do? Does is mean that my unmatched bet at the time the event starts is pushed in the start price market and that I may possible get a less attractive price then the limit on my unmatched bet? And if my unmatched is flagged as 'cancel' which is the default does it mean that my unmatched bets miss out on potentially being matched in the start price market; even when the start price is at a more attractive level then the limit on my bet?
TakeSP means your unmatched bets will be taken at SP. The default is that they are cancelled.
Keep means your unmatched bets will be kept even after a market suspension. Default is they are cancelled.

See the manual for more info
https://www.betangel.com/user-guide/glo ... g0&mw=MzIw .
sflegg
Posts: 9
Joined: Sat Jun 24, 2017 2:48 pm

sa7med wrote:
Sun Jun 16, 2019 11:56 am
sflegg wrote:
Sun Jun 16, 2019 11:23 am
I'm getting a little confused about Bet Angels' Take Start Price function.

My understanding is that on all betfair markets if the start price gets struck at a more attractive price than your unmatched bet on the exchange then the unmatched bet will be automatically sucked into the start price market and matched. I.e. I'm wanting to back at $4 and the BSP is struck at $4.2; so my $4 trade gets automatically sucked into and matched in the start price market.

Assuming my understanding of how it works is correct - then what exactly does the 'take start price' function do? Does is mean that my unmatched bet at the time the event starts is pushed in the start price market and that I may possible get a less attractive price then the limit on my unmatched bet? And if my unmatched is flagged as 'cancel' which is the default does it mean that my unmatched bets miss out on potentially being matched in the start price market; even when the start price is at a more attractive level then the limit on my bet?
TakeSP means your unmatched bets will be taken at SP. The default is that they are cancelled.
Keep means your unmatched bets will be kept even after a market suspension. Default is they are cancelled.

See the manual for more info
https://www.betangel.com/user-guide/glo ... g0&mw=MzIw .
Sorry I'm still a bit confused (and to honest the betfair website is also confusing). Their website indicates that unmatched exchange bets can be sucked into the start price market at the jump to satisfy demand even in that market even if the bet hasn't been flagged as "take sp". "All available money at the time is balanced to determine a fair price. This includes customers who have elected to back or lay at SP and any unmatched Exchange demand."
https://www.betfair.com.au/hub/betfair- ... rice-faqs/
"The odds are calculated by matching SP backers and Exchange backers against SP layers and Exchange layers."
https://promo.betfair.com/betfairsp/FAQs_SPrules.html

The reason I don't want to just flag my bets as "take_sp" is that I lay a lot of horses through guardian and if the market is a bit thin on liquidity my liability could really blow out.

So maybe another way of asking the question is: Is there a way of entering a start price bet with a limit? (BTW. I'm using the excel function in guardian)
weemac
Posts: 1216
Joined: Mon Sep 16, 2013 8:16 pm

I've commented before on this oddity of the reconciliation process. You can have a back at 4.0 sitting unmatched and see it matched at 4.20 SP, whether or not you have 'Take SP' selected. That's because, as you mention above, "All available money at the time is balanced to determine a fair price. This includes customers who have elected to back or lay at SP and any unmatched Exchange demand." In practice, it's unlikely to happen if your unmatched bet is a long distance from the price action at reconciliation time.

You can never be matched at lower than your limit price if you submitted one and selected 'Take SP', whatever else happens.
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