Glossary
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W
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Win market
A Win market is a market where only one selection can win, thus back bets placed on any other selection will invariably lose.
Most BetFair markets are win markets. In a Win market, a selection’s P/L is affected not only by the bets placed on that selection, but also by all other bets in that market.
For example, if you back £10 at 1.88 on Boulogne and lay £5 at 3.55 on The Draw in a football match, the P/L of Boulogne will have parts from both bets: 10*(1.88 – 1) + 5 = £13.8 - 5% commission = £13.11, and likewise for The Draw: -5*(3.55 - 1) - £10 = -£22.75.
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Withdrawn Runner
A runner (horse, dog, etc.) can be withdrawn from a race, in which case its name disappears from the list of selections, any bets you placed on that runner, as well as any unmatched bets on other selections, are voided and the corresponding reduction factor is applied to the matched bets placed on the rest of the selections.
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