Backing The Favourite With Loss Recoupment

Description

Back the favourite at 20 sec after the off, to a profit of £10, but only if its price is above 2.0 and the second favourite's price is no less than 10 ticks above the favourite's price. If the bet won then stop all betting, otherwise bet to produce £10 + the previous bet size in the next market, on the same conditions.

Trigger

Click here to download the trigger file

Short Explanation

The first condition of the trigger makes sure that the favourite's price is greater than 2.0. The second condition checks if the second fav is at least 10 ticks from the first fav, through the function r_ticks(r_1_back_price, 10). The third condition is needed to stop all betting if the bet has won. Finally, the last condition executes the trigger between 19.8 and 30 sec after the off (to cover possible refresh delay).

The formula in the "Amount" field has an IF function:

IF(last_won=0, 10/(back_price-1), (10+hist_1_backa)/(back_price-1))

If the last won amount is equal to 0 (no bets were placed yet), it backs to the profit of £10. However, if last_won is less than 0, it backs (10+hist_1_backa)/(back_price-1), which means "to the profit of £10 plus the back bet in the last settled event".

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