Can I control how much I will win at SP if my prediction is correct?
Yes. One major disadvantage of standard SP betting is that the price may be much less favourable than the bettor was expecting. You might be willing to take SP, but only if it is returned at a specified price or bigger. Traditional bookmakers don’t offer this type of bet, but Betfair have created an SP mechanism that accommodates this.
To specify your SP limits you need to add an SP bet into your betslip, once there tick the ‘SP odds limit’ option at the top. For a back bet you will need to specify the minimum acceptable odds and for a lay bet the maximum acceptable odds.
If the Betfair SP falls outside the limits specified then the stakes are returned and the bet is not matched. This enables Betfair to calculate the minimum profit you will make on the selection if the result goes in your favour, although the liability will always be fixed if the result goes against you.
- SP Backers Min Profit Calculation:
(Min Odds – 1) x Stake = Min profit
- SP Layers Min Profit Calculation:
Liability / (Max odds – 1) = Min Profit
Can I amend my SP odds limits?
You can reduce the minimum odds you are prepared to take if you have specified them as an SP backer or increase the maximum odds you are prepared to lay if you have specified them as an SP layer.
Why can’t I edit the limits on my SP in both directions?
Editing the limit on a back bet upwards or on a lay bet downwards to a level where it is unlikely to be matched would be equivalent to cancelling the bet and SP bets cannot be cancelled.
Do SP bets where an odds limit has been specified form part of the Betfair Starting Price?
SP bets with price limits are included in the calculation as long as doing so allows an SP to be calculated that has no imbalance between backers’ stakes and layers’ liabilities. For example if SP bets and Exchange bets could be matched at a price of 5.0 with no imbalance between backers’ stakes and layers’ liabilities then SP back bets with a price limit of 4.0 would be included, but SP back bets with a limit of 6.0 would lapse unmatched and would not form part of the calculation of the Starting Price.
What happens if the SP is exactly the same as the limit I set?
If you have set a limit that turns out to be exactly the same as the Starting Price, we may be unable to fully match your bet. In this case the SP may have been reached without including all bets at that price limit, as to fully include all bets with that limit may have resulted in an imbalance between backers and layers. Therefore, your bet may be unmatched or only partially matched. Where bets have identical price limits to the SP they are matched in the order in which they were placed, as is usual in Betfair’s markets.
|
Setting SP Limits
