Scheduling your Bets
Basically there are two type of Scheduling you can do:
- Bets on Named Runners.
- Bets on UnNamed Favorites.
To submit a Back or Lay Bet on a Named Runner, simply click on the Back or Lay button beside its name:
Here we've clicked on Bebinn's Back Button.
A row of Settings drop-down opens
so that we can either just accept the Default Settings for our Back Bet on Bebinn,
or we can adjust them, so that they apply only to this Bet on this Runner.
example the Range of prices looks a bit generous at 2.0 - 100, so we may wish
to adjust the Maximum Back Price, down to, say 3.5:
You can adjust any of the Runners' settings at any time up to BetTime (the number
of seconds pre-Scheduled Offtime that you have selected).
Or, if you change your mind entirely, you can cancel any scheduled Bets on any
Runners by clicking the Cancel button.
When BetTime is reached your Initial Bet(s) will be submitted, provided that the Runner's price is within the limits you have set:
In the above example we wish to GreenUp or, if the market goes against us, to RedUp. Our GreenUp default is not set to 'Virtual', so, as soon as the Initial Bet has been Matched, the GreenUp Bet will be submitted, and the RedUp Bet will be readied for submission if necessary.
Here out Back Bet on Bebinn was Matched @ 2.48, and during the Race Bebinn's price dropped to 2.08 (unsurprisingly since he eventually won the Race! ), so our Green Bet was Matched for a Stake of £23.85 to lock in an equal profit whether he won or lost the Race.
You can also schedule Bets on UnNamed Favorites by clicking the Back or Lay
Button beside the appropriate Favorite.
Here we want to implement a strategy of Laying all three Favorites 10 seconds
before OffTime, aiming to GreenUp at + 10 Ticks sometime during InPlay.
We're reasonably confident that we'll be able to GreenUp, so we're not setting
any RedUp bet (the RedUp Ticks are 'Off'):
Obviously, if we are scheduling Bets several minutes , or even hours before OffTime, BBSchedule doesn't know which Runners will be Favourites, so the Settings Rows are shown beside the Favourites labels.
When BetTime is reached, BBSchedule determines which Runners are Favourites and moves the Settings Rows down to the appropriate Runners. It also enters the Price as it was at BetTime in the 'TP' (Trigger Price) column, so the interface will
look similar to this:
During InRunning the Market has gone in our favour for all three Runners, so
that all of their GreenUp Bets were Matched:
As soon as the Race has been settled the Results are shown;
A summary of all Results in the current Session is also shown on the Bet Results
Virtual GreenUp can be quite a useful tool when you are aiming to GreenUp at a relatively low number of Ticks to the price of your Initial Bet.
You enable Virtual GreenUp by ticking the appropriate box on the Defauls Tab (don't forget to Save changes that you make to the Defaults!
When Virtual GreenUp
is enabled, instead of submitting your GreenUp Bet as soon as your Initial Bet
has been Matched, BBSchedule will prepare the GreenUp Bet, but not submit it until
the GreenUp Price has been reached (in that sense it's like a RedUp Bet, which
for fairly obvious reasons isn't submitted until the RedUp Price has been reached..
In the example below, we have Virtual GreenUp enabled, and our Strategy is to Lay the first three Favourites, with the aim of GreeningUp by Backing them when their Prices reach 10 Ticks above the Matched Price of the Initial Bet:
For all three Runners, the GreenUp price has been reached so the GreenUp Back Bets have been submitted, and all were Matched, but, as you can see from the picture, the Back Bets were Matched, but, because of 'Best Execution', in two cases they were Matchedat much higher prices than the prices they were submitted at, so, if, for example Aviador went on to win the Race, we would make a higher profit than expected.
However, as with all Exchange Betting there is a risk/reward trade-off, in the sense that Virtual GreenUp Bets are less likely to be Matched than normal GreenUp Bets. In most cases though, it's a risk that can be worth taking.
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