In-play cross-matching :(

[1/4 of a millionaire fund]

Following a previous trial earlier this year, we are now running another trial of in-play cross-selection matching (‘cross-matching’) on the win markets at Lingfield Park on Tuesday 23rd November. Cross-matching will only be activated after the markets are turned in-play.

If successful, cross-matching will be turned on for all in-play win markets on British and Irish horseracing from November 24th onwards.

Cross-matching was introduced on most sports during 2008 and has had a significant, positive impact on liquidity. It has meant that a customer’s bet is more likely to be matched than would have been the case without cross-matching. When a bet request cannot be matched by an opposing bet on the same selection, cross-matching will attempt to match the bet request with unmatched liquidity on the remaining selections in the market. Cross-matching incorporates ‘best execution’ meaning that whenever the bet matching algorithm can match a bet request at a better price than requested, it will do so, resulting in the customer making the bet request getting the best possible price.

We don’t expect customers to notice any material difference in the way the win markets operate at Lingfield Park.

Anyone notice much difference within the IP markets now Betfair have decided to skim some extra cash for the shareholders Xmas party?

[jimrobo]

didn;t affect me at all MF as I don;t really touch inplay. I did notice the parkets seemed pretty stable though IP but I don;t really have any experience of what to compare them too before the cross matching.

[Leonthefixer]

Did you notice any difference MF? If so what?

[eggman]

Didn't realise they turned it on, so can't say I noticed a difference.

[1/4 of a millionaire fund]

Did you notice any difference MF? If so what?

Bit busy today and didn't have time for much trading today Leon so was wondering if anyone had noticed any drastic changes. I guess we'll have to wait until they turn it on all races before any quirks or trends start showing up. Can't imagine that'll be too long as Betfair will have made a few quid today so be rubbing their hands tonight

[Alfred]

Does anyone know how they implement this in a multiselection market like the inplay horse races? Does cross-matching only occurs when two selections are traded under 2.0? Or are they continously looking at a way to see , for exemple, if a combination of back bets on all but one of the runners would give better odds than a lay on the other runner?

As for the original question, I havn't noticed a difference, but I wasn't looking for it. So I don't know.

[1/4 of a millionaire fund]

They use a combination of all prices

http://bdp.betfair.com/index.php?option=com_content&task=view&id=237&Itemid=62

[Alfred]

Thanks for the link MF. That sound dreadful for my style of trading.

[Leonthefixer]

As long as it went okay they are rolling it out totally tomorrow - I guess we will get an annoucement before start of racing tomorrow.


Going to be interesting to see how they deal with a late non runner or one where it isn't clear if it is a runner or not. They will obviously have this all worked out already but going to be interesting to see.

I think the IR bot guys take advantage of the book % will see their profits vanish from that style of trading.

The markets they tried it on today weren't great markets, mainly small fields with a clear odds on fav.

[wagonmastergeneral]

I traded all today's races IR and didn't notice anything at all. Normal service and all that.

I think the IR bot guys take advantage of the book % will see their profits vanish from that style of trading.

Like leon said there's plenty of software out there trying to do similar stuff. Those guys must be pretty p*ssed off.

[Cran]

It shouldn't make much difference to my current strategies unless they start doing it pre race as well.

My in play automated stuff is currently in two player markets which already has the cross matching.

It might effect my future in play horses strategy, it will (I think) make it harder for bots to falsely move the market and that is something I've recently been looking to identify and take advantage of.

They need to be careful they don't get too greedy, if people (bots) can't make a profit they won't put their money in the market and liquidity might go down...

[lewismbet]

Any ideas whether this is likely to be rolled out pre-race? Or are there still too many problems relating to Non-runners? I think any pre-race cross matching would be pretty disastrous for most traders.

[lewismbet]

Confirmed by Betfair this morning...

Following completion of the trial yesterday cross-matching will now be turned on for all in-play win markets on British, Irish and Meydan Thoroughbred horseracing from November 24th.

[Ted]

Don't know if it will make trading any different, might smooth it out a bit....

[Cran]

might smooth it out a bit....

Or not... I've put up a couple of price chart comparisons on my blog

http://cranthetrader.blogspot.com/2010/11/cross-matching.html