Lapsed Bets

[Jambo]

Hi,

I have an excel sheet now setup and kinda working how I want it.

However, I've noticed yesterday that it tried to 5 horses, 4 of which turned out to be winners but checking Betfair they're down as lapsed bets.

My sheet is setup to back a horse when it's odds reach a certain value.

What's went wrong here, is it just that the horse has blew through that value quicker than the bet could be placed?

Is there anything I could modify on my sheet to stop that happening and to get a bet in?

Thanks

[Jambo]

Missed two winners so far Today.

My trigger is set that when the odds hit my set odds in play then a back bet is placed.

Should I just change it so a back bet is placed as soon as it goes Inplay and BSP is known? That way it'll be sitting waiting to get matched, if it doesn't I assume it'll be cancelled?

Rather than my excel formula waiting for the odds to hit, then changing to a 1 and that triggering my back column?

[alrodopial]

Missed two winners so far Today.

My trigger is set that when the odds hit my set odds in play then a back bet is placed.

I assume you trigger your bet when odds drop down eg to 1.5 and then you place a back bet at odds eg 1.5 ?
If this is the case then you haven't missed the two winners (or any other winner), you rarely can win with this set up.
Your bet is placed in play with 1 sec delay by betfair and during this time odds have dropped more and don't meet the required min odds you asked (1.5) so you have a lapsed bet if horse continues to perform well and wins the race.
Your bet will be matched at eg 1.5 if odds starts to drift but this happen when horse started to perform not well and will probably loose (and your matched bet)

If you place your bet at SP you don't know at the start at the race if the horse will perform well

Try to place your bet at lower odds eg 1.4 but this also mean that if you get matched you need more winning bets to recover a lost bet because of these lower odds

[Jambo]

There were 3 lapsed bets yesterday and they were all winners.

My sheet tried to back them at 2.88, 5.4 and 3.05 but they lapsed.

I've edited my triggers today so that when the race goes in play it will try to place the bets at the odds I want, rather than waiting till they get hit and that starts the trigger process.

Not sure if this is the solution but will check today to see if there were any lapsed bets.

[alrodopial]

when the race goes in play it will try to place the bets at the odds I want

This means that if you ask for odds eg 2.88 and the available odds at yours bet placement time is higher you will instantly get matched at this higher odds, usually odds at the start of the race are close to SP prices

[Jambo]

So my original trigger was to bet a horse in play when it's odds feel by 0.5 from the BSP but recently noticed that I was then missing horses. The horses it missed were winners so we're blowing through the odds I was looking for I am assuming?

My thoughts today were as soon as the race goes in play place a bet at 0.5 of the BSP rather than waiting on the odds to drop to it, if they didn't then the bet would be cancelled?

So from what you're saying neither is going to work best?

The way I've set it up at today, where I only want it to bet at 3.0, will bet whatever the price is as soon as it goes in play if the horses odds are greater than 3.0?

So is there nothing I can do in this instance? What I'm trying to do isn't possible then?

[alrodopial]

So is there nothing I can do in this instance? What I'm trying to do isn't possible then?

It can not be done because BF matches your bet by default if there are higher available odds.

If you place a bet lower 0.5pt when race goes inplay you will probably get matched instantly as odds just after the off are similar to SP odds (higher 0.5pt from your requested odds). You will get paid more of the higher odds but you don't know if the horse will perform well, it similar to placing a blind bet at SP odds.
If horse performs well at the beginning the available odds are lower, your bet is not matched and if horse wins its odds will always be sorter, your bet will become lapled. These are the missed winners you noticed, you wouldn't be able to match them at the odds you requested.
Maybe at lower requested odds, but as I said you will need more winners to profit because of the new winners gain/losers loss ratio

[Jambo]

What if I change my trigger to place bets when in running is 0.5 of the SP odds but the odds I'll take are say 0.25?

So it would change to a 1 when 0.5 is hit which would enter a back bet but I'd have the odds set at 0.25 of SP so if it goes in at that price is should hopefully catch the price on the way down? And ideally get as close to the 0.5 as possible?

[alrodopial]

Sorry for my English but what " it would change to a 1" means?

The basic concept based on the "fact" that odds are close to their true chances is:
IF you get matched at high odds this means that horse doesn't perform well but IF it wins you will be paid well
or
if you get matched at low odds horse will probably win but you will get paid small