The BTC Horse Racing Thread

Dan MacKinnon

@stuart-wallace that’s correct. Whenever you’re backing your committing whatever value you stake, whereas when you’re laying you’re committing the liability. If you don’t have enough money to cover the total liability Betfair won’t let you make that trade.

Stuart Wallace

@dan-mackinnon Thanks Dan, that explains everything well, except for one thing i am confused about, although you may well have explained it and i havnt understood.
I did a Test on Betfair and put just under half my Bank in as a Back way above current price (therefore wasnt matched) , and also tried to put a lay of the other half of my Bank way below the price, only for Betfair to tell me i didnt have enough in my Bank to cover the liability.
Now, i wonder if the fact that the Back had been matched if i would have been allowed to put a lay exit in for half the bank? or would i still need extra money in the Bank to cover any liability?

Dan MacKinnon

@stuart-wallace liability is only when you lay. Using your example, you back at 60 with £10 then your tenner is in the market. When you lay at 40 you're basically cashing out and the difference becomes a risk free bet. Be aware that in this example you're only in 1 market so if the horse doesn't win then you win nothing. You'll have to green up over all the horses for it to work and I don't know how to explain that unfortunately.

With the Test match, once you green up your liability is returned because you're not risking anything. To use the casino example again, you've removed your chips from the table and they're back in your pocket.

Stuart Wallace

Can i ask you good fellows a newbie question.....

I have got a lot of my Bank tied up in liability on the Test Match (but looking to Green up at EOP today) .

I have parked Horse Racing for a little while whilst i concentrate on sports that i have more of an edge on
however...... there is a horse running today that i remember watching before and it steamed out of the gates and got about 20 lengths ahead of all the others, only to be caught in last few furlongs and eventually came second.
Well, its running today again, and is currently about 60 on the exchange, and i want to do a BTL at say, 60 to lay at 40 in play.

Now, the question i have (actually, maybe 2!)....i have most of my (small) Bank tied up in liability for the Test, what happens with liability if you back and then lay at , say, 60 then lay at 40.? For example, if i were to lay 10 pounds at 60 then my liability would be circa 600, however, if i back first 10 pounds then what would my liability be when i lay 10 pounds at 40?
Second question..... Test match is over 5 days, we are now at end of day 3. If i green up now, does it reset my liability and balance with Betfair?, or do i have to wait til end of Test match ?

John Folan

Just the one today. 3,5-9 odds range as usual. Might just back the win on it if it is too low for that.

Sorry about the last couple of weeks. Dealing with a dog who it looks like has a tumour in his throat, if it is(waiting on tests), then I'm in for a crappy week this week. I'll be around more January onwards. Not really in the mood for much trading at the moment as all you dog lovers out there will understand.

John Folan

@andrew-camp ramp it up slowly by doubling your stake every couple of days until you are making what you feel is a reasonable amount. I use 10% of my bank per trade but I only ever risk a couple of percent of that (if that makes sense) on each trade.

? Offline

Wondered if anyone could advise on this.

I love scalp-trading horses in the five minutes leading up to a race. With a bank of £600, what would traders here advise is the best 'tick size auto stake' to use? At the moment, I only have it set to £1 which of course makes for very small amounts when greening up. I use Betfair Angel as my software and am trying to optimise settings.

Thank you.

John Folan

Light on the ground again. Nothing hit yesterday and no selections today

John Folan

Two potentials. 3.5-9 odds only

John Folan

@john-folan said in The BTC Horse Racing Thread:

Too short to Trob, but could get a dob on. Will back to win as well

Smashed home. Dob and Win. Not an official one as below the usual 3.5 but nice none the less

John Folan

Too short to Trob, but could get a dob on. Will back to win as well

John Folan

Nothing today. This is a weird year for selections

John Folan

@john-folan said in The BTC Horse Racing Thread:

Four potentials. 3.5-9 as usual

Two points lost. Poor

John Folan

Four potentials. 3.5-9 as usual

John Folan

It ran into 1.03 yesterday so did well. Annoying Betfair cancelled my lay but I wouldn’t have complained if it had won.

Nothing today

Martin

@john-folan another placed

John Folan

@anthony-ariss said in The BTC Horse Racing Thread:

@john-folan

I couldn't watch live so stuck 1pt on at 5.4 and hedged it at 2.20 so made around 1.4pts - thanks John!

I think Betfair cancelled my lay for some reason. It may have even trobbed. Don’t know yet. Grrr

? Offline

@john-folan

I couldn't watch live so stuck 1pt on at 5.4 and hedged it at 2.20 so made around 1.4pts - thanks John!

John Folan

@john-folan said in The BTC Horse Racing Thread:

The one Trob. Currently in range and no reason why that should change.

Placed second but didn’t run in enough

John Folan

The one Trob. Currently in range and no reason why that should change.