We’ve probably all experienced betting with the traditional bookmakers. We are required to select a desired sport or event, choose the market, and bet the amount we want.
A simple process that everyone has dealt with. But what does it look like in the Betting Exchange?
How is it possible that my bet can be partially matched, and what happens to the rest of the stake? What to do if the bet is unmatched?
Can my bet be rejected?
These and other questions will be answered in the following article.
Chapter 1
Matched & Partially Matched & Unmatched
Explanation of the basics of:
• Matched,
• Partially matched,
• Unmatched bets.
Let’s get it started!
Matched
This word means that your bet has been approved and fully traded with other Betfair Exchange Members. In most cases, once your bet is matched, you will immediately see how much you can lose or win in the selected market.
Partially Matched
It means that only part of your bet has been approved and accepted.
On the right, you will see the exact amount that has been partially matched.
It happens because there are no longer funds available at that price.
Unmatched
A Betfair unmatched bet is something that every Exchange Member is familiar with. It happens when no one accepts your bet, but do not worry!
There are numerous reasons why this can occur.
However, the issue arises when there is a lack of liquidity on the market or the price you have chosen is too high.
You might be exciting: All Differences between Sportsbook and Betting Exchange
Chapter 2
How to fix an unmatched bet?
Check out the steps of how to deal with unmatched bets.
There are several ways to deal with that!
Using Betfair as an example.
Here we go!
It’s simple to fix fully unmatched bets – when none have been matched yet, and the whole stake is waiting to be matched.
First of all, do not worry! Betfair Exchange will let you cancel your bet.
You must click ‘Cancel unmatched above’ to do so. Then your money is simply returned to your account.
Secondly, you can use one of the available calculators to re-enter the lay odds there and check what they’re currently showing on the exchange.
Finally, just place your bet with the latest stake at a reasonable price.
Chapter 3
How can we avoid partially matched and unmatched bets?
Find out what exactly you need to avoid
• Unmatched bets
• Partially matched bets
How do you check the available amounts?
Let’s take a look!
Most importantly, make sure that there is enough money in the market before you place any bets.
Not doing so beforehand is the main reason for bets to be unmatched.
It often happens because some events are not as popular as the others, or perhaps you are trying to bet on an event that has not started.
Hence, people are not interested in this market yet.
How to check how much money is available for a trade?
Let’s take a look at the pictures below so that you can better understand the process.
- BLUE rectangle. Amount of money that was recently traded with the odds shown above.
- BLACK rectangle. Amount of available money currently waiting to be traded with the odds shown above.
- RED rectangle. Amount of available money currently waiting to be traded. It shows the next available price and amount of money assigned to those odds.
If you want to check the total amount of money and the other odds, simply click on the desired market as below:
As soon as you do this, a pop-up window will appear:
We divided this window into two parts.
For now, let’s focus on the part shown above, in which you can check how much money was:
- matched on this market (1 X 2),
- matched on this selection (Man City)
and what was the last matched price (odd)?
In the second part of this window, you can check how much money is available for a trade depending on the price.
For example, there is £2,702 available for a back bet with a price of 2.0.
What is more, we can see that £27,531 was traded at this price.
And it works both ways. We have £709 available for a lay bet with a price of 2.02, and precisely £18,806 was traded on this price.
You can scroll down & up on your own to check all prices.
Remember that the money in the white field means that it has been already traded, and only those in the pink & blue fields are available for trade.
With a more detailed and in-depth knowledge, we can go back to the question:
How can we avoid unmatched & partially matched bets?
At this point, we know that the market must have been loaded for our bet to be matched in the blink of an eye.
However, if it doesn’t work, you can wait a few minutes and see if it changes.
Sometimes the chosen market is not as popular, so acceptance can take a while.
Thirdly, check that the odds on the betting form and the odds on the betting slip are identical, as below:
With that in mind, if only your market is loaded, we can assure you that the bet will be matched instantly 😊
Chapter 4
What happens if a bet is partly matched and how to fix it?
A detailed step by step guide.
It will explain what to do if your bet is partially matched.
What are you waiting for?
Check it out!
You should always ensure that there is enough money on the market at your chosen price.
Doing so is the best way to avoid this problem.
Let’s use this image as an example.
If you want to bid £700 at 1.99, your bid will be partially matched.
Why?
Because only £580 is available for trade at that price. You’ll see a notification that the £580 was matched at the 1.99 odds, and the £120 is still not matched.
So, we hope that’s clear for you! Let’s find out how to deal with it!
- Cancel the part of the bet that isn’t matched by clicking ‘Cancel unmatched above.’
- Open Partially Matched Calculator.
- Enter the back stake and back prices. After that, you need to enter the currently available lay price on the Betfair Betting Exchange and their lay commission.
- Fill in the blanks with the lay bets that have already been matched.
- In the end, our calculator will show you the amount you need to lay bet to obtain a profit. That’s all there is to it!
Chapter 5
FAQ
Refresh your knowledge about unmatched bets!
And below you will find some questions that you often ask.
Here they are!
1. What happens if a bet is unmatched?
2. What is the difference between matched and unmatched bets?
3. How to cancel an unmatched bet?
