Author Topic: Version 8.7.9.2 - compensation bets for laying small bets  (Read 6901 times)

Tags:
  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
1. We have introduced a partial solution to BetFair’s recent restriction on bets below the minimum (or, to be more specific, small lay bets).

On June 19 in the afternoon, BetFair has introduced a new, unforeseen change to their API, due to which some Lay bets below the minimum of £2 are no longer accepted. You can read the official notification here:

Retrospective - API Release To Prevent Minimum Bet Abuse - 19th June

From what little information we could find, you can lay £0.8 at any price up to 1.01, but anything less than that can be tricky, e.g. you can lay £0.2 at 1.04, but not £0.1 at 50.0. 

If you lay a greater amount but only part of it gets matched, e.g. you lay £4 and only £0.5 gets matched, whereas £3.5 remains unmatched, that’s fine – the exchange will accept such bet even if you cancel the remaining £3.5.

Back bets below the minimum have not been affected (yet).

We cannot provide any guarantees as to whether BetFair will keep the matters as is or introduce some other change.

The greatest grief at the moment is that small back bets cannot be greened up. E.g. if you back £0.5 at 2.5 and the price drops to 2.4, you cannot green up with a lay bet of £0.52, because this bet will be rejected by BetFair and you will end up with £2.0 at 1.01.

To remove some of the inconveniences our clients, including probably you, are experiencing, we have released an emergency workaround. Its idea consists in laying the minimum required amount of £0.8 (adjustable in Betting Options) and placing a compensation back bet to eliminate the extra liability. So in the example above, the program will lay £0.8 and back £0.29 at 2.38 to remove the liability created by laying the extra £0.8-£0.52 = £0.28. Note that this will reduce your potential profit or increase your potential loss (in case you trade out with a loss). But at least it will prevent you from losing all of your bet, and it will be done automatically by the program, without losing the precious time.

See an example below:



Also see this video for several scenarios of placing small lay bets:

https://youtu.be/y8GaCe60BqA

To benefit from this fix, you will need to download the latest version of MarketFeeder Pro:

Download MarketFeeder Pro v. 8.7.9.2

You can adjust the minimum size of your small bets in the Betting Options tab of the Settings:



Please be aware that you are still strongly recommended to withhold from placing bets below the minimum, as this violates BetFair’s Terms and Conditions. In no way shall we be held responsible for a possible suspension or closure of your account as a result of violating these T&Cs; nor shall we be held responsible for any financial loss that you may incur while placing bets below the minimum or otherwise!

2. We have fixed a problem in MF Pro that made it drop a proxy connection under certain circumstances, due to which the program would freeze and stop refreshing markets if it was previously doing this via the proxy.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • All members
  • Posts: 42
  • Karma: +2/-0
Hi Oxa,

Thank you for this release.

There's an issue with it however. If you turn the "Place compensation bets" off and save settings, it turns itself back on again. Even if you disable "Allow small bets".

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
I will look into this, thanks for reporting!
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
Quote
If you turn the "Place compensation bets" off and save settings, it turns itself back on again. Even if you disable "Allow small bets".

I've fixed this, please redownload the setup file.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
Has anybody tried the new feature yet? I would appreciate some feedback, i.e. whether you managed to place small lay bets and how often it got matched together with the compensation back bet.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • All members
  • Posts: 42
  • Karma: +2/-0
Thanks for fixing that Oxa. I'll give it a try and let you know how I get on.

  • All members
  • Posts: 4
  • Karma: +0/-0
I have tried the new feature for small lay bets and it is has caused issues.  The lay part gets matched and the compensation bet does not leaving a large exposure.  OR they match and I am left with a loss?  Have tried different lay amounts to see if it made any difference but unfortunately not.

  • All members
  • Posts: 312
  • Karma: +3/-0
I turned it on for autodutching place markets and it went crazy leaving me with a 400 loss, just kept placing bet after bet for some reason, luckily i turned it off quickly else would have done my whole balance

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
First, thank you for the feedback. I now need to find out in what way you were using these small bets so that they caused the issues.

Second, it is now safer to stop placing bets below £0.4 altogether (you can place £0.4+ bets in the old way at prices of 1.04 and higher).

Lastly, if somebody could test the new feature in TEST MODE (it is behaving in exactly the same way) and help me reproduce all the issues reported, that would be great help, as I would fix them faster.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
I turned it on for autodutching place markets and it went crazy leaving me with a 400 loss, just kept placing bet after bet for some reason

 Sorry to hear about your bad experience!
Auto-Dutching turns off automatically after it has placed one round of bets. If you could email me your Program Logs to [email protected], I could find out what was really placing those bets.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • Administrator
  • Posts: 8952
  • Karma: +337/-3
  • Gender: Female
*
Re: Version 8.7.9.2 - compensation bets for laying small bets
« Reply #10 on: 23 Jun 2020, 09:40 »
The lay part gets matched and the compensation bet does not leaving a large exposure.
That's true, such possibility is very real, because if the back price changes at the moment your compensation bet is sent, it may be left unmatched, just like any other bet.

Quote
OR they match and I am left with a loss?

Just like said in the demonstration video, you will be left with a loss of at least 1 tick, because the compensation bet is placed at a back price, which is at least 1 tick lower than the lay price. Thus, if you're planning for a green-up, you have to factor this and aim for more ticks/% of profit to cover this loss.
Always try your triggers in Test Mode before switching to real money!

Follow us on Twitter.

Usuários brasileiros, bem vindos ao nosso WhatsApp chat!

Присоединяйтесь к нашей официальной группе ВКонтакте!

  • All members
  • Posts: 137
  • Karma: +1/-0
Re: Version 8.7.9.2 - compensation bets for laying small bets
« Reply #11 on: 23 Jun 2020, 09:52 »
I've set the compensation lay value to 10p so it doesn't even bother with the back bet and it works perfectly in real and test mode. Yesterday I made about 60 real 20p-30p lay bets successfully - odds ranging from 3 to 5 ish.
Yeah! :p

  • All members
  • Posts: 312
  • Karma: +3/-0
Re: Version 8.7.9.2 - compensation bets for laying small bets
« Reply #12 on: 23 Jun 2020, 10:22 »
I Still find that some of my bets are not accepted, i dutch lay so stakes are never the same, it must be something to do with the rounding up, the only way round this i find is to do the following:
lay 2 at 1.1
change the stake eg 10p
and then change the price eg 10
everytime i do this it seems to work

  • All members
  • Posts: 312
  • Karma: +3/-0
Re: Version 8.7.9.2 - compensation bets for laying small bets
« Reply #13 on: 23 Jun 2020, 10:33 »
I Think the 1.1 works for every stake above 10p because it is always going to be the correct payout, in other words betfair never have to round it up, and that is what they are trying to stop

  • All members
  • Posts: 312
  • Karma: +3/-0
Re: Version 8.7.9.2 - compensation bets for laying small bets
« Reply #14 on: 23 Jun 2020, 11:55 »
ive done a bit more testing, i dont think there is any way round it for dutching, doesnt matter what you use first whether it 1.04 or 1.1 if you are seeking a bigger than 25 percent advantage on the round up then the bet is rejected:(