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:\u00a0 –<\/p>\n
Improved bet matching algorithm trial on today\u2019s in-running markets at Carlisle and Sedgefield<\/p>\n
For the win markets on today\u2019s cards at Carlisle and Sedgefield we will be improving our bet-matching algorithm to include cross-selection matching (\u2018cross-matching\u2019). 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.<\/p>\n
Cross-matching was introduced on most sports during 2008 and has had a significant, positive impact on liquidity. It has meant that a customer\u2019s 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 \u2018best execution\u2019 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.<\/p>\n
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.<\/p>\n
We don\u2019t expect customers to notice any material difference in the way the markets operate today. We will assess the results of today\u2019s 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.<\/p>\n