Betfair extend cross matching
Betfair today announced that they had extended their cross matching algorithm to include a trail on in-running horse racing markets. Full announcement is detailed below: –
Improved bet matching algorithm trial on today’s in-running markets at Carlisle and Sedgefield
For the win markets on today’s cards at Carlisle and Sedgefield we will be improving our bet-matching algorithm to include cross-selection matching (‘cross-matching’). Cross-matching will only be activated after the markets are turned in-play. Please note that this is just a trial for these two meetings today.
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 it would have been 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. Importantly, cross-matching incorporates ‘best execution’ meaning that whenever the algorithm can match you at a better price than you requested then it will do so, resulting in you getting the best possible price.
The potential for non-runners which may require the application of Reduction Factors has prevented us from introducing cross-matching on horseracing to date. For pre-play markets Reduction Factors remain a hurdle. However, Reduction Factors are not applied to bets matched in-play.
We don’t expect customers to notice any material difference in the way the markets operate today. We will assess the results of today’s trial and should a further trial be undertaken or if we seek to apply cross-matching to in-play horseracing markets on a more permanent basis, we will announce that in advance.
Category: Betfair
