How to cancel unmatched bets and post them at the best price before the start of the event
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- How to cancel all unmatched bets if at least one was matched
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- How to cancel unmatched bets and post them at the best price before the start of the event
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If you are performing some kind of repetitive greening up or auto-dutching, you may encounter the problem of unmatched bets. If you leave them till the moment when the event starts, they will be automatically voided by BetFair, and you may be exposed to big losses.
To minimize these losses you may want to cancel all unmatched bets right before the off (say, when it's left less than 30 sec) and post them at the best price available. There are two options of doing this.
1. Stop-Loss Options
Go to "Settings", "Stop-Loss" options, and configure this option:
Post unmatched bets at best available price on these conditions:
If the time left till the off is less than ... mins
This will make MF Pro automatically adjust the price of your unmatched bets, as to make them matched. This option will suit perfectly for closing unmatched bets generated from auto-dutching, and all other non-hedging strategies.
2. Trigger - Distribute Loss Between Selections
If you were greening up, and unmatched bets left, then just posting them at the current best price, with their bet size remaining the same, will be a bad option. The better one will be distributing the loss equally among all selections in the market. For that purpose you may set up the following triggers:
Trigger 1:
2a) Cancelling Back Bets
Name: cancelling bets
Action: cancel back
Markets: choose appropriate
Selections: All Matching Selections
Market Status: Not In-Play
Execute: once per market
Conditions are met:
Any Selection's Back Unmatched is greater than 0
and Minutes Before the Off is less than 0.5
2b) Cancelling Lay Bets
Name: cancelling bets
Action: cancel lay
Markets: choose appropriate
Selections: All Matching Selections
Market Status: Not In-Play
Execute: once per market
Conditions are met:
Any Selection's Lay Unmatched is greater than 0
and Minutes Before the Off is less than 0.5
2c) Cancelling All Bets
Name: cancelling bets
Action: cancel all
Markets: choose appropriate
Selections: All Matching Selections
Market Status: Not In-Play
Execute: once per market
Conditions are met:
Any Selection's Back Price is greater than 0
and Minutes Before the Off is less than 0.5
AND
Any Selection's Back Unmatched is greater than 0
or Any Selection's Lay Unmatched is greater than 0
Note: the first condition in trigger 2c does not have any function, except that it starts the conditions list, because the "Selections" field is set to "All Matching Selections". When "Selections" contain the word "Matching", the first condition must start with the words "Any Selection's".
Trigger 2:
Action: distribute loss between selections
Markets: choose appropriate
Selections: All Matching Selections
Market Status: Not In-Play
Execute: once per market
Conditions are met:
Any Selection's Affected by Trigger cancelling bets
The second trigger is common for all three variants: it finds the selections whose bets were cancelled by the first trigger, and distributes their loss equally.
