Can I place a lay bet that automatically greens up when matched ?

[encytewins]

Hi all,

Can anyone tell me if its possible to manually place a ( conditional ? lay bet that greens on being matched. ??

Thanks

Kevin

[custard]

You asked this question yesterday on another thread. The reason you haven't had an answer is almost certainly because nobody has a clue what you are talking about. What on earth is a "conditional lay bet" ? If you want an answer try to be more specific e.g. by giving details of what you are trying to do. We have to understand your strategy in order to make sense of your question.

[encytewins]

Custard, this seems so simple to me..... maybe in my ignorance !!

Take tick offset betting for example. If doing a B2L it places a back bet followed by a lay bet and then if you have told it to, it hedges automatically for you....... you could say the lay bet has a " condition " attached to it.
So, back to my question, is there an " option " I can enable before entering a lay bet whereby when that lay bet is matched, it also hedges the market at the same time ?
I know it would seem easier to you to understand my strategy so maybe you could tell me an alternative method, but I really don't want to disclose how I want to use this function if available.

[DarkHorse]

Custard, this seems so simple to me..... maybe in my ignorance !!

Take tick offset betting for example. If doing a B2L it places a back bet followed by a lay bet and then if you have told it to, it hedges automatically for you....... you could say the lay bet has a " condition " attached to it.
So, back to my question, is there an " option " I can enable before entering a lay bet whereby when that lay bet is matched, it also hedges the market at the same time ?
I know it would seem easier to you to understand my strategy so maybe you could tell me an alternative method, but I really don't want to disclose how I want to use this function if available.

My understanding is that tick offset betting (with hedging) places an offset bet with hedging already accounted for. There is no "condition" attached to it.

Is this not correct?

Conditional betting sounds like something for a bot? (Which the Toy is not.)

[encytewins]

That just seemed like a good example to give, I don't use offset betting myself - you're probably right thinking about it but the idea of what I want to do is there kind of.

Its very hard to explain more what I'm looking for without divulging my strategy that I've worked painstakingly on. I'm sure if what I wanted was available someone would have said so by now with more than 20 viewers already.

You may well be right that I need a bot although up till now I've assumed a bot wouldn't be suitable - you've made me think again about that - thanks.

It may even be easier to write up in excel and get ***** to manage it. More software to learn.... Groan !

[custard]

I am glad that you have found "The Holy Grail". I hope that you soon find a suitable method of putting it into practice. I use a bot and can have more conditions than you can shake a stick at.

[encytewins]

Thanks custard. Not saying I've found the holy grail, probably reinventing the wheel again but I might strike lucky one day. Someone once said the harder he works the luckier he gets !!
I guess you would have mentioned it if your bot could do what I was looking for.

[custard]

I still do not have the least idea of what you are trying to do and suspect that nobody else does either.

[lcredd]

So, back to my question, is there an " option " I can enable before entering a lay bet whereby when that lay bet is matched, it also hedges the market at the same time ?

If you back first, and want a lay bet put into the market automatically - which hedges as well, then this sounds exactly like tick-offset with hedging. Although there is no guarantee it will get matched.
Are you hoping for more than one lay bet, say back for £10 with £5 lay at X ticks and £4 lay at X tick guaranteeing £1 profit?

[DarkHorse]

If you back first, and want a lay bet put into the market automatically - which hedges as well, then this sounds exactly like tick-offset with hedging. Although there is no guarantee it will get matched.
Are you hoping for more than one lay bet, say back for £10 with £5 lay at X ticks and £4 lay at X tick guaranteeing £1 profit?

Looking at his other thread, I believe he wants to offer two part bets simultaneously to close his trade at different prices, but with with the second part bet hedged taking into account the first part bet.

[Thomson]

Hi Encytewins...As I read it simple answer is yes.

If it's a back 2 lay situation the toy may not be the best tool because the ''what if'' is tough to read at first. However when mastered it can be set up easily.

Go to the exchange main page and make sure 'what if ' is enabled. Select your runner and make the back bet. Then select your lay odds and play around with the stake value. The 'what if' will show how different stakes provide different hedge results. Once your happy confirm the lay bet which will be unmatched so select keep in-play and update.

This is simple stuff, if you did this on a bot you would reduce your liability to one race at a time. Loading an afternoons card has a higher liability but is safer than using cheap, often dodgy conditional betting bots.

Once mastered the hard part will be deciding which new car to buy and where to move to....GL

[custard]

This is simple stuff, if you did this on a bot you would reduce your liability to one race at a time. Loading an afternoons card has a higher liability but is safer than using cheap, often dodgy conditional betting bots.

You could, alternatively. use a top quality bot like I use, or pay a software engineer to make one to order but it would cost a lot of money.

[encytewins]

Thanks for your contributions guys. Look at it this way, imagine a box like the tick offset box. If i could enter my back stake and price, then a lay stake and price, followed by as many more lay bets as i wanted within reason, each with a stake and price box..... then finally a button labelled select if you want to green up when the final lay bet is matched - that would do the job.
There is a lot more to it than that ie i dont just want to just set the lay bet a set number of ticks or a per centage lower, i have a spreadsheet with different prices bases on the back price. I can do it all manually except greening up after the last lay bet is matched. Actually for sprint races i simply wouldnt have time to do it all so a bot seems the way forward. Custard ; whats the " top quality " bot that you use ? Any one else have any suggestions please ? I went and had another quick look at betbotpro which i havent used for best part of a year but the betfair version is still down while they adapt it to the new platform - still !

[Thomson]

So this is where we are;

Back selection.......Red on runner

Lay selection.......Red on runner

Lay selection.......Red on runner

Lay selection.......green on runner

Lay selection.......green on runner

Lay selection.......green up on all runners :Kerching

On excel work out your stakes and red to green figures then calculate the final hedge possibly favouring the selection seeing as it's still being laid.
This can all be done on 'keep in-play' no need to bot this one.

Point is though a straight forward B2L will be more profitable over time. That is if B2L is ever profitable over time. All your strategy does is reduce liability early, which reduces profit in the final hedge....Looks a loser to me...just B2L with smaller initial stake, KIS.

[encytewins]

Thanks for the help Thomson.

I simply can't divulge any more than I have, suffice to say you haven't guessed my strategy and so far it has been profitable. what we've talked about on here is only a part of it anyway.

Does anyone know of any good reference material for designing trading strategies - doen't matter if its heavy on the maths side - that the bit I love