Percentual stakes - ADDED

Ideas for new features. All suggestions are very welcome, thank you.

Re: Percentual stakes

Postby Angelo » Sat Feb 10, 2018 5:03 pm

Excellent; Thanks Gavin. :D
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Re: Percentual stakes

Postby Angelo » Sun Feb 11, 2018 2:33 pm

Gavin wrote:......the ability to have something like a freebet column (similar to the Green To column on the ladder, but using net stakes instead of green stakes).....

As explained by Gavin at topic1290.html , a Green Bet would not require to have a minimum fund [other than the absolute minimum of $2] in the Betfair account since the Lay bet amount is taken from the profit itself.

Is this case the same in the proposed Freebet Column also?

Or would one need to have some minimum funds for the Freebet to be taken, depending on the bet size, as explained by Gavin in the same thread?

Thanks.
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Re: Percentual stakes

Postby Gavin » Mon Feb 12, 2018 1:01 am

Hi Angelo,

Yes, all the same explanations would apply to the free bet column, because it would always be reducing the exposure. So it is unlikely that any funds would be needed to close the position (unless the initial position was a bet of less than the minimum stake, in which case you might need enough funds to cover placing a minimum stake bet as part of the 3 step process for closing such a position).

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Gavin
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Re: Percentual stakes

Postby Angelo » Mon Feb 12, 2018 5:05 am

Thanks Gavin, for the kind explanation.
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Re: Percentual stakes

Postby Gavin » Sun Feb 18, 2018 9:38 am

Miggi wrote:Hello,
...I think it would be great to place bets according to percentage amount of money, instead of fixed numbers. I hope I am not the only one here, who have some money management and use just some % of money as bet (in my case it is 20%). Now we can use Stake and Liablitiy, after this, there would be %Stake and %Liability too...


I have been looking into this.

Unfortunately it doesn't make sense to have the stake changing constantly every time the bank funds change. Imagine you place a back bet on Horse 1, for 20% of bank, bank drops from £100 to £80. Now you want to place a lay bet on Horse 1 to close the position, but it sends a bet for 20% of £80, which is £16. So now you have an unbalanced position on Horse 1, it is not really closed.

It gets even worse if you place bets on multiple horses. For example:
You place a back bet on Horse 1, for 20% of £100. Stake £20. Bank drops to £80.
Then you place a back bet of Horse 2, for 20% of £80. £16 stake. Bank drops to £64.
Then you want to close your position on Horse 1. You send a lay bet for 20% of £64. Stake £12.80.

So on Horse 1, you backed £20, then layed £12.80. It doesn't make sense.

I think the only way it could make sense is if setting the bank % is a one time action. For example you click a button to choose a %. You choose 20%, it then amends the value in the stake box to £20 (20% of the £100 bank). Then the stake stays the same at £20 and doesn't keep changing it when the bank funds change. Then all your bets will be for £20, until you choose to change or refresh the bank % again manually.

Clicking the % button would calculate the new stake based using either Stake or Liability, according to which setting you had previously chosen as the Staking Type.

I'd like to hear your comments on the above suggestion, before I implement it.

Kind regards,

Gavin
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Re: Percentual stakes

Postby Angelo » Sun Feb 18, 2018 12:21 pm

Gavin wrote:..... until you choose to change or refresh the bank % again manually.....

I think the % change can be automatically effected only when switching to the next Market (race) - preferably when one Market's outcome has been officially settled by Betfair.
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Re: Percentual stakes

Postby Gavin » Sun Feb 18, 2018 3:16 pm

Angelo wrote:
Gavin wrote:..... until you choose to change or refresh the bank % again manually.....


I think the % change can be automatically effected only when switching to the next Market (race) - preferably when one Market's outcome has been officially settled by Betfair.


Thanks for your comment.

Waiting for the previous market to be settled would be a problem, because you might start trading the next race as soon as you choose it. So the bank funds have already been reduced again before the previous market settled. Also you don't want the stake dynamically changing during trading the next race if new bets already exist, for the reasons already mentioned.

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Re: Percentual stakes

Postby Angelo » Sun Feb 18, 2018 5:52 pm

I think my earlier comment makes sense in this context:

Suppose I have a bank roll of $100 and have setup a 50% bank to bet on a new Market.

If my first bet fails - a loss of $50 - and I move to the next market, the next bet suggested will automatically be 50% of the balance of $50, i.e. $25. In this case, I can decrease the new bet amount manually to say $10 depending on the outcome of the previous market.

If on the other hand my first bet wins - a gain of $100 - and I move to the next market, the next bet suggested will still automatically be 50% of the balance of $50, i.e. $25. In this case, I can increase the new bet amount manually to say $150 depending on the outcome of the previous market.

Both the scenarios above are when the Market's outcome has not been officially settled by Betfair. If the bets are settled in due course, only the values of the stake will change according to the new account balance anyway, and I can place new bets only if I want to, and not automatically.

Here is a screenshot from another software:

screenshot.jpg

Of course the above is only my point of view, and would like to look at the opinions of other members too, who have suggested this. Thanks.
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Re: Percentual stakes

Postby Gavin » Sun Feb 18, 2018 6:08 pm

Hi Angelo,

Yes, I can see what you are thinking. Thanks also for the picture.

Kind regards,

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Re: Percentual stakes

Postby Gavin » Mon Feb 19, 2018 1:36 pm

I am now in the process of adding various extra staking options. I am trying to include all of the following:

Stake, Liability, Lay Liability, Tick Profit, % Stake, % Liability, % Lay Liability

The % ones, all refer to a % of the account funds.

I might also add Book Profit.

Kind regards,

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