You need to refresh a market in order to stay updated as to the best current prices and volumes. The refresh rate is the frequency at which you update the market information.
If you use the exchange website, the prices are usually refreshed automatically at set periods. In MarketFeeder Pro, you can set the refresh rates before and after the beginning of the market.
The selection’s position in the list of favourites, from 1 (being the first favourite) to the number which is equal to the number of selections in the market.
A selection in the context of a racing event.
The selection’s reduction factor is a percentage by which the exchange will reduce the prices of any matched bets placed on other selections in this market in case the runner associated with the selection in question is withdrawn from the race. This is to prevent situations in which, after a horse is withdrawn from a race, your bets on other horses form an overround with guaranteed profit from Dutching bets.
BetFair appoints reductions factors to every selection that can potentially be withdrawn from an event before its beginning.