Glossary
-
S
-
Status, state (Market)
-
Selection
A selection is an event outcome on which you back or against which you lay. A selection can be the name of a runner, a team or a player, in which case it means you are backing or laying on their winning the event; or it can be the name of some other outcome, such as the number of goals scored or some proceeding that may or may not take place in the course of the event (such as cards shown, corners hit, extra time appointed, etc.).
The list of selections is formed by BetFair, usually well in advance of the start of the event.
-
SP
A selection’s SP (starting price) is the price derived by the exchange just after the off from all previously placed matched bets on this selection. BetFair offers SP in some sports, such as horse racing and Greyhound racing. You can choose to automatically match all unmatched bets at SP once the market turns In-Play (see Persistence).
While the actual SP is only known after the off, Far SP and Near SP are projected prices that give you an approximate idea of what the SP might be based on the volume of matched and unmatched bets up to the moment.
Where SP betting is available, you can place an SP bet, which is a special kind of bet instruction. Similarly to an unmatched bet, it is an open offer which locks money in your account but does not generate liability until the bet is matched at SP. The SP bet sits in the market until it turns In-Play.
-
Statement (account)
An account statement is a list of your bets with a breakdown of their price, amount, profit or loss and the resulting balance.
MarketFeeder Pro uses your account statement in a number of internal calculations, such as the settled P/L of a market or your total profit/loss for the day.
-
Settled P/L
-
Suspended (market)
The period during which the market is not available for betting but is not closed yet. Markets can be suspended on multiple occasions: for a short time just after the event has started; if a horse or dog has been withdrawn from a race; if a goal has been scored or red card flashed in a football match; at the end of the event before it is closed; when some sort of a dispute has been raised in the course of the event, etc. Your unmatched bets may be cancelled during the suspension, unless you have set their persistence to “Keep”.
-
Settled (market)
A market is in a settled state if all its bets have been settled, i.e. the profit or loss from these bets calculated and your balance offset against them accordingly. Also, the winning selection(s) is (are) normally established in a settled market. Settled markets can no longer be refreshed for prices and bets are not accepted as the outcome is already known.
A trigger can be executed in a settled market, but only once.
-
Settled (bet)
A bet is considered settled if the profit or loss from this bet has been added/deducted from your balance. A bet can be settled before the market is settled, e.g. in Goal Lines markets in football.
-
Steamer
-
Stop-Loss
Stop-Loss is an umbrella term for a multitude of betting techniques aimed at cutting your losses. It could mean distributing the loss across all selections, matching an unmatched bet at the best possible price, cancelling an unwanted bet, eliminating the loss on a particular selection by increasing your liabilities on others, etc. You need to derive the specific meaning from the context.
-
Silks
-
Staking Plan
A staking plan is a betting system that defines rules for calculating the size of your bets depending on the market circumstances. A staking plan can be a loss recovery plan, whereby you increase your bet after your previous bet has failed, looking to compensate the loss. A staking plan can be a system based on a selection’s price, such as the Maria plan.
We have a library of staking plan examples to choose from.
-
Stake
See Bet.
-
