Sorry - Betfair Nuffy Question
 

I don't know much about betfair....so please be kind...

I assume you can place a bet at the price showing (on the back side) and hope you get matched for your wager or put in a price you want and hope you get matched. i.e. best price i could find was $1.53 for Kokopu at Bet365, so i could put in a bet for $20 at say $1.65 and hope it gets matched, otherwise i miss out

Prior to the race Kokopu was showing $1.33 ($226) does this mean there is a possibility of getting matched for $226 @ $1.33?

Is there anyway of seeing people wanting to lay at >$1.33? (i know you can on the ASX see who's put your in share price buy and sell bids at what price and at what volume...)

Hope this makes sense?

Told you i'm a Betfair nuffy...

Yes it means there was $226 available at $1.33. You cant see the individual bids on Betfair. You can get trading software which shows in a ladder style so you can see other total bids like at 1.32, 1.31 etc etc.

Stix,

Its not too hard. There are usually 2 prices showing that matter.

The back price and the lay price. It will be sikilar to this

1.33 Back price
1.40 Lay Price

You could put in to gt odds of 1.39 and you would be first in the queue to get matched until someone puts a price lower. Alternatively you could take the $1.33 and it would likely get matched instantly. It could disappear if you take too long to place the bet.

You can also put in to go to Betfair SP. This means you might put in $1.39 and if it doesn't get matched it will autmatically match at a "fair" price when the race starts. That price could be $1.33, $1.35 $1.39 or even $1.10. It depends on how the prices move.

Its not hard after you start to place a few bets.

Thanks newguy and UB, being able to see the bids would be very handy!

Cheers

Hi Stix,

On the betfair screen just click on the small chart picture to the left of the horses name. This will open up a chart and also show how much money is currently available at certain prices and how much has been traded.

Unfortunately this doesn't update in real time and so you will need some paid for software to do that.

Betfair:


Ladder trading software

Thanks a lot guys, much appreciated!