Tweet
Hi, I have been learning for a few months now, and it seems every time I think I have my head round it, I don't at all!! I keep thinking I am getting on ok, but think I have misunderstood one of the columns on the ladder interface. I naively thought that when I hedged, the amount shown in the column on the right that goes green, and is the same for the entire ladder, was the amount I have won, but it isn't. Can someone explain this to me, I am wondering if I have it on the wrong setting, I have been reading the manual about hedging your profits and whether it is set at selection or not, but I am struggling to get my stupid head around it, could that be the problem (the setting, not my stupid head!)? I would really appreciate any help. Many thanks
-
-
It is difficult to give a good answer without seeing an example where things didn't turn out as you expected.
However, it sounds as though you have "Selection Profit" ticked and you may want "Hedged Profit" ticked instead.
To check / change this right click the ladder header, then choose "Visual Options" followed by "Profit / Loss"
Then you can choose "Selection Profit" or "Hedged Profit"
To explain the difference let's assume you have had a £10 back bet matched at odds of 6 and the currently available lay price is 5.
If you have "Selection Profit" ticked and you hedge at 5 then GT will place a NET stake to close the trade.
That means the lay stake will be equal to the back stake (minus any other lay stakes already matched) so, in this case, GT will place a lay bet of £10 at odds of 5.
And the hedged value will show as £10 all the way up & down the ladder BUT it is important to realise that you will only win this £10 if the selection wins.
If the selection loses you wil break even - your £10 back stake is lost but you win the layer's £10 stake.
If we consider the same situation but now with "Hedged Profit" ticked then, this time, when we hedge at odds of 5, GT will place a £12 lay bet.
Now the hedged value will show as £2 all the way up & down the ladder and this is what you will win regardless of whether the selection wins or not. -
Hi Tanden,
Thank you so much. I was really hopeful, but have done as you said and it was 'hedged' that was already selected, so must be something else I am doing wrong, very frustrating. I am not sure how I can show you, but shall try and describe. I places several back bets at various prices, totalling £14, and various lay bets, by clicking on the right hand column, as I thought that worked out what you should place and did it for you. The total lay bets are always exactly the same stake as the back bet doing it this way though. Basically, after several bets, it said '£24' all the way down the right hand column. However, on checking 'my bets' on Betfair, because my balance just keeps going down, only £10 was 'won' on this particular selection. I hope this makes sense. I do appreciate you taking the time to explain this.Comment
-
If the lay bets were the same as the back bets it would seem that the option at that particular time would have been "Selection Profit" instead of "Hedged Profit" but it's always tricky trying to work out what happened after the event.
If you have been experimenting with this, is it possible you have changed it since?
It might be worth you trying the different options in practise mode to become familiar with how they differ.
If you are able to post up the actual bets it might be possible to tell what happened as long as it shows the individual bets. You'd have to go into the day's P&L in Betfair, select the market and then make sure the option that says "Average odds" is set to Off.
Then you could use the "Download to Spreadsheet" option or do a screenshot. If you do a screenshot, then please make sure you remove any personal details before posting.
Can't think of anything else to suggest for now.Comment
Comment