Author Topic: Lay at SP liability before the off  (Read 439 times)

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Lay at SP liability before the off
« on: 26 Nov 2022, 08:23 »
Hi,

I have begun testing a new strategy - it is a crazy one, so please don't judge.

I have put a set of factors together, and after testing it, it does seem to work.

I was slightly confused whilst testing this, here is why...

If I place a Lay at SP bet with a £10 liability, this is simply a risk of £10. Easy.

Now, if I place 3 Lay at SP bets on 3 selections, for £10 liability each, I would expect that the TOTAL liability should be £10, and mathematically speaking, it could only be £10 max, and when the race goes off, the total liability, taking into consideration the selection who causes the highest liability, will be less than £10.

I was intending to use a 10% liability on this, and I decided to assign a £500 test bank with £50 liability, and, from a maths perspective, even if 15 of the 25 runners had Lay at SP bets placed, this should be fine, because the max risk is £50?

That is why I am here to ask the question. I was doing my tests, and a race came along that had 13 selections, and it only bet on 6 of them, even though all 13 qualified (using conditionals) - I looked at the logs to see if there were problems, and the log informed me that it was placing 13 bets, but only 6 came out.

I continued running it and a similar thing happened again, and again and again. At that point, I looked at the test bank and available funds, and I could see that the lay at SP bets, that were currently unmatched because the race hadn't taken off yet, was reduced by approximately the liability * number of bets.

So, given that, I decided to just set the test bank to £10,000 - and everything worked after that point, all bets placed every single time.

This is laying, so, if using multiple selections in a race, the total liability is always the one selections whose liability is highest.

Hence the confusion...

I eventually figured out that in order to be able to get this working, I needed to set the liability to 5%, meaning I could have 20 bets - thankfully, it has never bet more than 14, so I have a buffer. This strategy merits 10% liability, but because of the above, I can't do it that way.

If you look at the image, there are 4 bets using £11.04 as the liability, and there is a TOTAL liability showing as £44.19, which isn't a mathematically sound value, but that is not important.

What I really want to know is, if I go live with this, will betfair still enforce this as it has been revealed in test mode?

I expect my confusion may be down to my lack of understanding of the betfair liability model. I know if you place 4 BACK at SP bets, at £10, then this will have a £40 liability overall, but laying should only be the highest liability selection, and even in the highly unlikely event that there is a dual win, I think the liabilities are halved anyway?

If betfair don't offer this model, then they should - surely?

Thanks for reading...

Mark.

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Re: Lay at SP liability before the off
« Reply #1 on: 29 Nov 2022, 14:16 »
Hi
This is a limitation of Test Mode. Every test mode lay liability must be covered by available test funds. Real mode lay liability is as you suggest, the highest, not the sum of.

Further info: https://community.welldonesoft.com/marketfeeder-troubleshooting/trading-lay-liability-in-test-v-live-mode/msg20465/#msg20465
Please read the following disclaimer with regards to the information you may request and obtain on our forum. This specifically concerns trigger files and various instructions as to how to implement a strategy.

 

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