What are ticks on Betfair?
Ticks are the price increments between prices. So if a price varies between 1.01 ans 1.02 the price increment or tick is 0.01
Further the increment changes depending on which group of pries you are in. Here is a table of price groups and there increments.
|
Price
|
Increment
|
|
1.01 → 2
|
0.01
|
|
2→ 3
|
0.02
|
|
3 → 4
|
0.05
|
|
4 → 6
|
0.1
|
|
6 → 10
|
0.2
|
|
10 → 20
|
0.5
|
|
20 → 30
|
1
|
|
30 → 50
|
2
|
|
50 → 100
|
5
|
|
100 → 1000
|
10
|
Offset ticks or tick offsets, allow us to enter bet prices at an offset price. So if the current price is 1.5 we can ask for a better or worse price by using offset ticks.
Back bet example
An example would be entering a back bet at say the current price 1.5 - 10 ticks or a better price. As per the table 10 ticks is 0.10, so the price entered would be 1.6
In this case as the required price is greater than the current price, it would not get matched. It would only get matched if the current price moved to 1.6 or higher.
If we entered the bet at 1.5 - 10 ticks or a worse price. The bet would go in at 1.4. In this case the bet would get matched at 1.5 straight away. This is due to the way
Betfair match prices. They always match at best value. So if the current price was 6 say, then you put in a back bet at 1.1, it would get matched at 6.
Lay Bet Example
An example would be entering a lay bet at say the current price 2.5 - 10 ticks or a better price. As per the table 10 ticks is 0.2, so the price entered would be 2.3
In this case as the required price is less than the current price, it wouldn't get matched. It would only get matched if the current price moved down to 2.3 or lower.
If we entered the bet at 2.5 + 10 ticks or a worse price. The bet would go in at 2.7. In this case the bet would get matched at 2.5 straight away. This is also due to the way
Betfair match prices. They always match at best value. So if the current price was 2.5 say, then you put in a bet at 6, it would get matched at 2.5.
How can we use Offset Ticks?
We can use this in various ways. Firstly we can use it to almost guarantee getting a match on the exchange by using Betfair's best value matching system. If you are
willing to put up with a slightly worse price then entering the bet with an offset so you get matched can be good.
Back bet - ticks = worse price, but will get you the best current price available.
Lay bet + ticks = worse price, but will get you the best current price available.
Secondly, you can use it to get better value by waiting for a better price, you may not get matched of course but if the price does move to equal yours it will.
Back bet + ticks = better price but will likely not get matched straight away.
Lay bet - ticks = better price but will likely not get matched straight away.
