This release contains the following updates:
Betting Enhancements
Market version parameter added to placeOrders and replaceOrders
We have added an additional optional parameter ‘marketVersion’ to the ‘placeOrders’ and ‘replaceOrders’ operations. The MarketBook data item, which contains the dynamic data on a market, including its prices, has always been returned an integer market ‘version’. This ‘version’ is incremented when significant events – runner removal, turn in-play etc. – occur. Now, by passing that version as ‘marketVersion’ with your orders, you can specify that if the market version has been incremented beyond that value, your orders should lapse and not be submitted for matching.
This functionality should be of use to those who want to bet right up to the actual ‘off’ of a horserace or sporting event but be confident that you’re not inadvertently bet into the first seconds of in-play after the off. Similarly, in managed football markets, you can avoid your bets reaching the Exchange after the market has reformed following a goal being scored etc.
Bet to Payout or Profit/Liability – betTargetType & betTargetSize added to placeOrders for LimitOrder
Currently, best execution, which guarantees that you’ll receive the best possible price, means that you receive a greater potential payout to the same stakes (or risk a smaller potential payout to the same backer’s stakes, for layers).
If alternatively you should wish to benefit by receiving the same potential payout as you originally requested, but to smaller stakes, you can now specify on a LimitOrder (placeOrders) an optional ‘betTargetType’ of ‘PAYOUT’ or ‘BACKERS_PROFIT’ (the latter being identical to layers’ liability) and a ‘betTargetSize’ representing the value of that payout or profit, together with the usual ‘price’ parameter to represent their limit price. Your bet will then be matched to achieve that payout or profit at the specified price or better.
Should all or any of the order be unmatched after first reaching the Exchange, the unmatched portion will be expressed in standard price and backers’ stake terms (by dividing the remaining unmatched payout by the price, or unmatched profit by the price – 1, and placed on the unmatched queue), after this point the bet like any other.
Ability to place lower minimum stakes at larger prices
In order to allow customers to bet to smaller stakes on longer-priced selections, an extra property has been added to our Currency Parameters – “Min Bet Payout”.
As currently bets where the backer’s stake is at and above the ‘Min Bet Size’ for the currency concerned (£2 for GBP) are valid. In addition, bets below this value are valid if the payout of the bet would be equal to or greater than the value of ‘Min Bet Payout’ - £10 for GBP. For example, a bet of £1 @ 10, or 10p @ 100 or 1p @ 1000 are all valid as they all target a payout of £10 or more.