Author Topic: what is best price?  (Read 709 times)

Tags:
  • All members
  • Posts: 87
what is best price?
« on: 17 Aug 2020, 22:29 »
i noticed that on many of the triggers, you use best instead of lay_price or back_price.
what is the best price and how is it different from back_price/lay_price?

  • Moderator
  • Posts: 3605
*
Re: what is best price?
« Reply #1 on: 18 Aug 2020, 11:41 »
Hi
lets say current back price is 2.40 and there is £50 available at that price.
you send a back bet of £100 at back_price
your back bet at 2.40 will be matched £50 leaving £50 unmatched

now lets say the three best back prices are 2.40 with £50 waiting, then 2.38 with £30 waiting, and 2.36 with £100
if you use "best" your £100 will be fully matched as follows:
£50 at 2.40, £30 at 2.38, £20 at 2.36

it is similar to backing at 1.01 and laying at 1000, Betfair will match your bet at the best available price  
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.

  • All members
  • Posts: 87
Re: what is best price?
« Reply #2 on: 18 Aug 2020, 11:51 »
what if i have a condition where it places £100 back_price bet 5 mins before start? let's say £50 is matched at 2.40
however, wouldn't the rest of the bet be matched at the next available prices seeing as the condition was to place bets after x mins? it wasn't a condition to just place bet at 1st available price after x mins.

  • Moderator
  • Posts: 3605
*
Re: what is best price?
« Reply #3 on: 18 Aug 2020, 12:33 »
here is the sequence of events:
5 minutes before the off you send a £100 back bet at back_price, the back price is 2.40 with £50 waiting
back bet of £100 at 2.40 was received by Betfair, £50 matched at 2.40
£50 is unmatched and is now waiting to be matched at 2.40 on the lay side, back price is now 2.38

if you use best instead of back_price in your trigger, £100 bet would bet fully matched at best price, e.g. £50 at 2.40 and £50 at 2.38, this is how the helpfile describes it for laying:

The term "best price" here refers to the lowest possible price available for your whole bet to be matched. Let's say you lay £1000 at 4.5, but only £500 is available at that price. Another £400 are offered at 4.4 and £300 are offered at 4.3. If the program is to match your whole bet, it will have to lay £500 at 4.5, £400 at 4.4 and £100 at 4.3. Luckily this is done automatically by the exchange if you lay at a price that is higher than the current available odds. I.e. if the program offers £1000 at 5.0, the exchange will automatically lower down that offer to the best available prices and match all three portions.
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.

 

Please note, BetFair is seems to be currently OFFLINE