{"id":7854,"date":"2013-04-22T21:48:51","date_gmt":"2013-04-22T20:48:51","guid":{"rendered":"http:\/\/www.betangel.com\/blog_wp\/?p=7854"},"modified":"2013-05-06T16:37:24","modified_gmt":"2013-05-06T15:37:24","slug":"using-make-market-in-bet-angel-professional","status":"publish","type":"post","link":"https:\/\/www.betfairtradingblog.com\/blog_wp\/2013\/04\/22\/using-make-market-in-bet-angel-professional\/","title":{"rendered":"Bet Angel hints and tips – The ‘Make Market’ button"},"content":{"rendered":"

When trying to get a trade placed into the exchange then usually it is a good idea when placing a bet to ask for a better price than the one currently on offer. What do\u00a0we mean by that?<\/p>\n

GETTING A BETTER PRICE<\/strong><\/h2>\n

For example, if a football team has a current back price of 5.1 then it makes sense to try and get better value and submit a BACK bet at 5.2 and vice-versa. Taking the current value of 5.2 for a LAY bet will give me a higher liability than asking for a price of 5.1, so it makes sense to try and get a lower liability.<\/p>\n

\"match-odds\"<\/a>

Market in Betfair<\/p><\/div>\n

Look at the above market. If I accept the current back price on Rep of Ireland to win of 7.8 using a stake of \u00a3100 my potential profit is \u00a3680 if they win:<\/p>\n

\"Betting<\/a>

Back bet at the current price<\/p><\/div>\n

But if I back them at 8.0 my potential profit is \u00a3700:<\/p>\n

\"Back<\/a>

Back bet at a better price<\/p><\/div>\n

If I put in the opposing trade by placing a LAY bet now at 7.8 my liability is only \u00a3680:<\/p>\n

\"Lay<\/a>

Opposing LAY bet completing the trade<\/p><\/div>\n

Simply asking for a BACK bet at the current LAY price is a good tactic but, if you think about it in trading terms, if your do these bets at the same time and both these orders get matched you can make a profit. If we submit both these bets then the bet slip will look like this:<\/p>\n

\"Bet<\/a>

Combined bets<\/p><\/div>\n

The potential P&L in the market looks like this:<\/p>\n

\"P&L<\/a>

The P&L showing the potential profit<\/p><\/div>\n

If the Rep. of Ireland win then I win \u00a320. If they lose or the match is drawn I will lose nothing.<\/p>\n

How can Bet Angel help?<\/strong><\/h2>\n

<\/strong>In financial markets you will often find a person called a market maker. Their job is to create market liquidity by offering buy and sells orders on an ‘instrument’ perhaps a listed company. Market markers profit from the price difference or spread. Using Bet Angel you can do a similar thing in the sports markets by using the \u2018Make market\u2019 button on the one click screen.<\/p>\n

Here is the same game now in Bet Angel:<\/p>\n

\"Bet<\/a>

The same Betfair market now in Bet Angel<\/p><\/div>\n

You can see the \u2018Make Market\u2019 buttons over on the right hand side.<\/p>\n

If I click the button associated with the Rep. of Ireland then Bet Angel will submit two bets with a single click. Not only that, the bets are priced on either side of the book and will return a profit should both get matched. It’s a neat little button and an often overlooked trading tool.<\/p>\n

See the following video for more detail on how to use the make market button: –<\/p>\n