Bet 2
If the strategy is Back-Then-Lay or Lay-Then-Back then it will include Bet2. The values and settings for Bet2 are specified in the Bet2 section of the plan. There are 4 types of bet that can be specified for Bet2:
•Fixed Stake And Price – Enter specific values for the stake and price.
•Set For Profit % - You can specify a required profit percentage value you want to achieve when both bets 1 and 2 are matched. For this feature there is an internal BTX function that will automatically calculate the values for Bet 2 on-the-fly in order to achieve a specific profit whichever selection wins. When you have specified a profit percentage value for Bet 2, and Bet 1 has been fully matched, the BTX with calculate the stake and price for Bet 2 in order to achieve the required profit.
The profit will be based on the stake amount placed on Bet1, except for cases where Bet1 is a Lay and the stake has been specified as a Liability value, in this case the profit is based on the liability amount.
Note that in many cases the precise price required to achieve the profit target will not be an exact Betfair price, so in these cases the BTX will select the nearest Betfair price that gets closest to the required profit. In addition the bet will only be placed if it satisfies the minimum stake requirement. For example if the Bet 1 stake is £10 and you want to achieve a profit of £4 then he would specify a profit of 40%.
•Ticks From Bet1 With Same Stake - Available with BTX Ultimate. This option enables you to specify that the Bet2 price is a specific number of Betfair market ticks away from the Bet1 matched price. In the case of Bet1 being a Back bet, the Bet2 Lay bet price will be the specified number of ticks lower than the matched Bet1 price. In the case of Bet1 being a Lay bet, the Bet2 Back bet price will be the specified number of ticks higher than the matched Bet1 price. The stake will be the same amount as that matched on Bet1 which (if matched) will result in a profit on the selection and break-even on all other selections. For example, with a Back then Lay strategy, let’s say Bet2 has been specified at 10 ticks. If Bet1 is matched with £3 at 1.50 then Bet2 will be placed with £3 at 1.40
•Ticks From Bet1 With Equalising Stake - Available with BTX Ultimate. This option allows you to specify that the Bet2 price is a specific number of Betfair market ticks away from the Bet1 matched price. In the case of Bet1 being a Back bet, the Bet2 Lay bet price will be the specified number of ticks lower than the matched Bet1 price. In the case of Bet1 being a Lay bet, the Bet2 Back bet price will be the specified number of ticks higher than the matched Bet1 price. The stake will be automatically calculated so that if the bet is matched it will result in an equal profit no matter which selection wins. For example, with a Back then Lay strategy, let’s say Bet2 has been specified at 8 ticks. If Bet1 is matched with £4 at 8.00 then Bet2 will be placed with £5 at 6.40 resulting in a profit of £1 on each selection.
You can always check the profit loss estimates at the bottom of the betplan or use the trade calculator
