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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