
19th January 2013, 11:13 AM
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Member
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Join Date: Sep 2011
Posts: 1,561
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Originally Posted by Barny
You're not going to have a market to bet into and,
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All the prices I use are obtainable and available at the time of recording. For example if I am laying to a liability of $1000 and the odds are $300 I only need to lay $3.33. My program uses the odds at the highes amount I need to do the lay. Although usually this amount is easily possible on betfair. Even laying $10 for odds at $100 for a liability of $1000 is very easy to do. Look at any market on betfair and you will see this liquity available. An example of how my program works is this:
there are bet odds of $100 and lay odds of $120. It will lay at the $120. Lets say I need to lay to liability of $1000. It will check the amount available at $120 and if this is only $4 then we can only lay to $480. It then checks the next higher price for laying. this might be $200 and have $2 available. If this is the case it will record that I could have layed at odds of $200 for $6 for a total liability of $1200. This covers the amount needed and will recored the lay at odds of $200 for a liability of $1000. I assume I will get the worst odds that way in real life betting I can only be laying more and making a larger profit margin.
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If you're betting for the win and you have that horrible run of outs, then the size of your bet will ensure you get way under the odds.
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Its fixed price on betfair so this has no bearing on it at all. Maybe it will push my prices higher but its easy to lay up to $10,000 liability on betfair. Just take a look at most of the races and you will see the amounts might not be much but if there is $6 available at odds of $500 that is $3000 liability covered. This is frequently more then enough (rarely laying for an amount of more then $10 return).
Betfair fixed odds makes this possible. Mind you without betfair this would not work because of the reasons you have noted so in a way we are both right !!!
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