This must be harder than I tought to do but it sounds so simple
Back in play on the horse that reaches between 1.30 and 1.40 and lay on the same horse if the price drifts up to between 5.00 and 6.00.
This is the scenario, if the horse keeps going down to win I win the back bet if the horse keeps going up to lose I win the lay bet, unless the horse comes back down again then I will cope with that later.
Sounds simple but may not be when it comes to producing a trigger for it.
there must be a pro here that can direct me in the right direction.
Much appriciated
Hi DarkHorse,
I answered this in your triggered betting post...but my answer won't do what you more accurately describe in this post.
If, after backing with say 12 units, the price grows up to the 5.00 where you want to lay then
Price = lay_price ... the current lay_price at the time your bet request reaches the exchange
or
Price = best ... this gives you whatever the lay_price is at the time your bet request reaches the exchange which may be 6.00, 13.5, 20 etc depending on how fast the price is rising
or
Price = 6.00 ... note: this may remain unmatched if the price has risen beyond the 6.00 by the time your bet request reaches the exchange
Amount...Presumably you will want to recover your back amount and may be make a profit so the minimum amount is your back amount. So if you back with 12 units and lay with 12 units, if the selection goes on to lose you make nothing.
If you back with 12 units and lay with 15 units, if the selection goes on to lose you make 3 units (lay amount - back amount).
unless the horse comes back down again then I will cope with that later.
I'm interested to know how you intend to cope with this scenario!
Hope this helps.
OT