At some point in your matched betting journey, you are likely going to experience unmatched bets when you come to place your lay bets in the exchange. This can cause concern and worry when it happens for the first time, however, it is something that can usually be resolved easily with no real problems. Read on further to find out a bit more about what to do with unmatched and partially matched bets.
What Is An Unmatched Bet?
If we look at this example from the Betfair exchange and focus in on the pink lay boxes which we use when we bet against an event happening. Below the odds are monetary values. These values indicate how much money is available for the particular market at that time for those odds. This amount can vary widely depending on how high profile an event is and also how soon the event will be taking place. An unmatched bet occurs when your lay stake, identified by the oddsmatching calculator, is greater than the amount available in the market.
For example, say that I have backed Newcastle with a £10 stake at the bookmaker at odds of 1.45 and am looking to lay at odds of 1.5. I have entered the details into the calculator and this shows that my lay stake to place against Newcastle is £10.
I would then copy my lay stake and go to place the lay bet in the exchange. Ordinarily, I would stop as there (see above image) is only £2 available in the market at this time, meaning that there is not enough liquidity to fully match the bet. So what happens if I enter £10 into the lay box to bet against Newcastle winning and place it?
As there is only £2 available in the market this pops up as an unmatched bet in the receipt showing that the remaining £7.42 stake is unmatched. So what happens with this £7.42 stake? The remainder of the lay stake which in this case is unmatched, goes into a queue at the odds staked, waiting for money to come into the market in order for it to become matched. This may or may not happen, there is no guarantee that money will come in at this price.
How To Avoid This Occurring?
Whilst we can’t avoid this occurring every single time, as odds drift and market values change which are both out of our control. There are some steps we can take to ensure that we reduce the frequency of times this happens.
We can utilise the filters on the oddsmatcher software.
As well as being able to limit the number of markets on display you can also enable the minimum availability option to only show results above a certain figure. I personally input £25 for this, but it is up to you what you go for. This will then only display markets with that value or greater available. This isn’t foolproof as your lay stake is dependent on the value of your back bet so you should also manually check the market prior to placing your stake.
Check Liquidity Prior To Placing Your Bets
If you are required to place a £10 lay stake and there is only £2 available in the market don’t place the lay stake! Look at the next odds in the queue and head back to the calculator to reconfigure and calculate your lay stake. If you are not happy with the new match then look for another. In that sense, it is always best to check liquidity prior to placing your back bet.
Finally, allow enough time prior to an event starting to ensure you are not rushed, you will think a lot clearer if you do not have the added pressure of lack of time working against you.
These tips will help you avoid a regular occurrence of unmatched bets but at some point you will encounter this.
How Do We Fix An Unmatched Bet?
Well, the good news is that these are fairly easy to fix and you shouldn’t be overly concerned by them.
There are a number of things we can do:
1. If the bet is 100% unmatched we can just cancel it by selecting the cancel unmatched bet option on the exchange. Then move back to the calculator and recalculate at the new odds
2. If there’s still a few hours left until the event takes place you can also wait in the queue and see if the stake is matched. You can look on the open bets tab and click on the refresh button to update your open bets. It may resolve itself, just don’t leave this until the last minute in the hope that it will be matched.
3. You can also use Profit Accumulators Fixabet calculator. The Fixabet calculator can be used to help you work out partially matched bets and their lay stakes.
Fixabet Calculator Overview
The Fixabet Calculator is available to all Platinum Profit Accumulator Members. It can be used for cashing out erroneous lay bets or fixing partially matched lay bets. There are two modes that can be utilised on the Fixabet Calculator.
Cash Out Mode
The Cash Out Mode will be useful in situations such as; laying the wrong bet/market or having laid too much.
When operating in Cash Out Mode your calculator should look like this:
Target Lay Stake
In this cell, you would need to enter the lay stake that you are aiming to lay over all. So, if you wanted to fully cash out your lay stake that you perhaps laid by mistake, then your target lay stake would be £0. If you have laid too much then you would simply enter the stake that you were first trying to lay. So, for example, if you have already laid £25 but in fact you were trying to lay £20, then you would enter £20 into the Target Lay Stake cell.
Current Lay Stake
In this cell, you would need to enter the lay stake that you have already placed. Whether it be an erroneous lay stake or one you intended to lay, the lay stake of the bet you are trying to cash out will need to be entered into the Current Lay Stake cell.
In this cell, you would need to enter the current Back Odds from the exchange of the market you have already laid. Whether it's an erroneous lay bet or you've laid too much, the figure for this cell will always be the same, the exchange back odds.
In this cell, you would need to enter the lay odds of the lay bet that you have already placed. Whether it's an erroneous lay bet or you've laid too much, the figure for this cell will always be the same, your lay odds that your bet was placed at.
You would need to enter your exchange commission in this cell. It is set as a default 2% because we feel Smarkets will be the most likely exchange to be used for this mode.
Once the above cells are populated, the Results section will open up and tell you what you will need to back, at what price and for how much. You will also see what your overall position will be for cashing out your lay bet.
Part Lay Mode
The Part Lay Mode will be useful in situations such as; your lay bet has only partially matched, you are placing a back bet with one exchange and laying with another or you wish to lock-in best odds guaranteed (BOG).
With this drop-down menu, you can choose between "Normal" and "Free Bet SNR" modes. The normal mode would be for a standard qualifying bet. Free Bet SNR mode would be for a free bet where the stake is not returned.
In this cell, you would need to enter the stake of your back bet.
In this cell, you would need to enter the odds that you placed your back bet at. If you are hoping to lock-in best odds guaranteed then you will need to enter the starting price/back odds of your selection.
If you have used an exchange to place your back bet then you would need to enter the relevant commission charge. This has a default value of 0% but can be edited at any time.
In this cell, you would need to enter the current lay odds of the lay market for your selection. Any partially matched bet lay odds will need to be entered in "Part Lay One" and "Part Lay Two". If you are hoping to lock-in best odds guaranteed then you will need to use "Part Lay One" for your already matched lay bet.
In this cell, you would need to enter the commission charge of the exchange you are using to place your lay bet(s). This has a default value of 2% but can be edited at any time.
Part Lay One - Lay Odds
If you have a partially matched bet then you will need to enter the lay odds of the lay bet that has already matched in this cell. If you are hoping to lock-in best odds guaranteed then you will need to enter the lay odds of your already matched lay bet.
Part Lay One - Lay Stake
If you have a partially matched bet then you will need to enter the lay stake of the lay bet that has already matched in this cell. If you are hoping to lock-in best odds guaranteed then you will need to enter the lay stake of your already matched lay bet.
Part Lay Two - Lay Odds
If you have a partially matched bet that has matched at two different prices then you will need to enter the lay odds of the second lay bet that has already matched in this cell.
Part Lay Two - Lay Stake
If you have a partially matched bet that has matched at two different prices then you will need to enter the lay stake of the second lay bet that has already matched in this cell.
Once the above cells are populated, the Results section will open up and tell you what you will need to lay, at what price and for how much. Your liability will be stated but this will not include any partially matched bets. You will also see what your overall position will be after placing your lay bet.
There are four different lay options here:
Standard - This will give you equal profit/loss between the back bet and lay bet winning outcomes.
Underlay - This will give you the risk-free or most profitable option IF the back bet wins but your position if the lay bet wins will be worse than that of the standard option.
Overlay - This will give you the risk-free or most profitable option IF the lay bet wins but your position if the back bet wins will be worse than that of the standard option.
Custom - You can choose your own lay stake with the slider at the bottom but you must be aware of the profit/loss differences when doing so.
Platinum members can find an additional video guide with examples of the calculator in action here.
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