Sunday, July 19, 2015

exchange - What is the priority of the waiting non-matched bets, when a match becomes available in Betfair?


Say the back price (odds) on a market is $2.5$.


Then the following time sequence happens:





  • Bettor $A$ places a back bet with price $2.6$, for $\$100$ (it will not match)




  • Then bettor $B$ places a back bet with price $2.6$ for $\$200$ (it will not match)




  • Then bettor $C$ places a lay with price $2.6$ for $\$100$.




What will be the matches? What is the match priority rule?





  • Bettor $A$ will have a full match for his $\$100$ back, because he was earlier?




  • Or will bettor $A$ have a $\$33.3$ and bettor $B$ will have a $\$66.7$ partial matches because the available offer will be divided proportionally on the current waiting non matched bets?




  • Neither of above, random, or this is not documented at all?





I've tried to find the answer, but did not even find similar questions on the web.




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