Hi all,
I am just getting into place markets and I am a bit confused how they are labelled in Bet Angel and on the Betfair website.
In the 18:30 at Wolverhampton today there are;
Top 2 Finish
Top 3 Finish
Top 4 Finish.
In Bet Angel they are labelled
2 TBP
4 TBP
To Be Placed. (Betfair market Top 3 Finish ?)
In the the 18:00 at Wolverhampton, Betfair markets are
Top 2 Finish
Top 3 Finish.
In Bet Angel they are labelled
3 TBP
To Be Placed (Betfair market Top 2 Finish ?)
It looks like the To Be Placed markets in Bet Angel changes depending on how many place markets there are. I have automation for these markets and its causing me a headache identifying the correct markets because I have to double check every market.
It seems there is nothing I can do about it, but just wanted to know why the Bet Angel To Be Placed markets are not labelled exactly how the Befair markets are labelled.
Thanks for any info.
Jaffy
Place markets labelling
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jamesedwards
- Posts: 2336
- Joined: Wed Nov 21, 2018 6:16 pm
My understanding is that the TBP market is the standard place market based on the number of places traditionally paid out by a bookmaker.
<=4 runners is win only
5-7 runners pays 2 places
8-15 runners pays 3 places
16+ runners pays 4 places (handicap races only).
Where there are non-runners, the bookmaker would reduce the number of places where relevant, whereas Betfair will not change the TBP market.
<=4 runners is win only
5-7 runners pays 2 places
8-15 runners pays 3 places
16+ runners pays 4 places (handicap races only).
Where there are non-runners, the bookmaker would reduce the number of places where relevant, whereas Betfair will not change the TBP market.
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jamesedwards
- Posts: 2336
- Joined: Wed Nov 21, 2018 6:16 pm
When I did stuff with place markets I used to use the book% to test how many places there would be.
eg in a well formed market;
2 places will have the book% around 200%.
3 places will be around 300%
4 places around 400% etc.
eg in a well formed market;
2 places will have the book% around 200%.
3 places will be around 300%
4 places around 400% etc.
So I could identify the To Be Placed market just by the number of runners.
The 18:30 has 10 runners and the 18:00 has 7 runners so that seem to explain the change in market from 2 places to 3 in each market.
Thanks for your help, much appreciated
The 18:30 has 10 runners and the 18:00 has 7 runners so that seem to explain the change in market from 2 places to 3 in each market.
Thanks for your help, much appreciated
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jamesedwards
- Posts: 2336
- Joined: Wed Nov 21, 2018 6:16 pm
Not that simple because you need to include non-runners because Betfair don't change the main place market like bookmakers would.
eg 9 runners reduced to 7 runners due to 2 non-runners would move to 2 places in a bookmaker but remain as 3 places on Betfair..
As long as you're trading in reasonably formed markets then I would use book% to identify the number of places. eg if back book% is between 199-250% then assume 2 places, 299-350% assume 3 places etc.