You were right hadn't registered the variable.
It's acting quite strange how some races it will return a value for favtime where others it won't determine a value despite the favourites price being well seperated.
If we use the 14:30 Lingfield has a loop going here of 1,0,1,0,1,0
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09/03/2010 22:57:11: Market Horse Racing - Todays Card / 14:30 Ling 10 Mar has been refreshed.
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Trigger conditions have been met and the trigger's state is remembered for market "Horse Racing - Todays Card / 14:30 Ling 10 Mar", selections: Hurakan.
The name under which the selections were remembered is "0"
Waiting for the next repetition...
Waiting for the next repetition...
Waiting for the next repetition...
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09/03/2010 22:57:16: Market Horse Racing - Todays Card / 14:30 Ling 10 Mar has been refreshed.
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Trigger conditions have been met and the trigger's state is remembered for market "Horse Racing - Todays Card / 14:30 Ling 10 Mar", selections: Hurakan.
The name under which the selections were remembered is "0"
Waiting for the next repetition...
Waiting for the next repetition...
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09/03/2010 22:57:15: Market Horse Racing - Todays Card / 14:30 Ling 10 Mar has been refreshed.
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Checking condition: Favourite's Name is equal to favid_sel_name
Condition is true. valid for 1 selections: Hurakan.
Checking condition: and User Variable(s) favid are set
Condition is true. valid for 1 selections: Hurakan.
A user variable has been set. Name: favtime, value: 1.
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09/03/2010 22:57:16: Market Horse Racing - Todays Card / 14:30 Ling 10 Mar has been refreshed.
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Checking condition: Favourite's Name is equal to favid_sel_name
Condition is true. valid for 1 selections: Hurakan.
Checking condition: and User Variable(s) favid are set
Condition is true. valid for 1 selections: Hurakan.
A user variable has been set. Name: favtime, value: 0.
As you can see it's working better now...but still now there is a kind of loop that shouldn't be here seeing as the variables have all been declared...so chances are it's like you said I now need to work on the user variables main line of code
IF("favid_sel_name"="favtime_sel_name",(favid+1),0)
However, what you put together appears correct to me.

IF (value is equal to value then (add 1 each time) else, return 0).
ALL sorted now.
Thank you
