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SomeBloke

Cross Matching

Question

Hello all

When trading greyhound and tennis markets I noticed something curious - where there are big gaps, money was being matched on both sides of the book at the same time, in the middle of the gap - in this case at odds of 2.10 in a tennis match:

1590257726_2019-06-0314_34_51-Greenshot_cr.jpg.89c1fd8d58b1d105cf8e3971b898bfaf.jpg

My first thought was that someone's bot was self-matching (maybe to generate commission towards PC), but now I think this activity is Betfair's cross-matching bot. The activity always seems to be at opposing odds - 1.90 and 2.10, or 1.50 and 3.0 for example.

What do you guys (and girls) think, and can we take advantage of this x-matching bot somehow? I've managed to close a position at better-than-available odds by placing my closing bet where I could see x-matching activity, but that's not really a strategy to take advantage of it...

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On 6/3/2019 at 11:02 PM, SomeBloke said:

What do you guys (and girls) think, and can we take advantage of this x-matching bot somehow?

Sometimes you can really be matched on a better price but in general, cross matching does make the market more efficient so trading is harder. On a picture you posted, a typical strategy would be to make the market on the second favourite - to place a Lay bet @2.02 and Back Bet @2.20 and wait for them to be matched by someone. However, this could never happen because the cross matching algo would match the person on a better price than is your offer.

The little left overs in calculation are a profit for Betfair. So, the real winner in Cross Matching is Betfair I think. For traders like us, it made trading slightly harder.


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I have never thought about it this way. I thought it is just someone matching his own bet for some unknown reason or just to create point where there is atleast something matched in low liquid market like on greyhounds. Saw many of these, even over 150 matched when there is no more than 10 sitting all around. I thought someone wanted us traders to see where money are "being matched" and drag our stakes closer to it. I personally just look at the next action/move and do nothing until I see something familiar to me.

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Unfortunately I don't think cross-matching is something we can take advantage of. It is however important to build an awareness for how it works so that if you need to close your position etc. you can do so by giving away the least value. Generally just go with the larger spread. Geeks toy also has a special option for tennis hedging where it will take best price from the two runners but I'm unsure if that is still relevant or not. Those guys don't seem to update their software anymore.

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I agree with you guys. Cross matching benefits Betfair, but not so much the traders.

Just out of curiosity, I threw some numbers at the ArbCruncher website, as I can see a very small advantage... Based on the photo I posted, the favourite has a best back price of 1.89, and the is only £13 available. If I lay at 1.89 and get matched (should be easy with only £13 in front of 1me), then lay the other player at 2.10 (where there is cross matching activity), I would make a small dutching/bookmaking profit of 0.53%. Hmm, I think there are easier ways to make pennies!

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