Bets matched at odds not specified

Hi there,

For testing purposes, I attempted to place a back bet on a selection that was way out of the current price to try & see the response of an unmatched/partially matched bet. However, this bet was matched & am confused as to why.

This is the market I was betting on:

This is my request:

{
    "contract_id": "32944415",
    "label": "test",
    "market_id": "9444048",
    "minimum_accepted_quantity": 500,
    "price": 9999,
    "quantity": 500,
    "side": "buy",
    "type": "immediate_or_cancel"
}

You can see that whilst the market price currently sits @ 76.92%, my request of 99.99% is no way near that so didn’t expect it to match. Considering that I have put immediate_or_cancel as well as the type, I did expect this bet to be cancelled. However, from the JSON response I got from my request, the bet was matched at the current market price of 76.92 instead of the price I requested:

{
    "available_balance": "50.23",
    "available_quantity": 0,
    "contract_id": "32944415",
    "executed_avg_price": 7692,
    "exposure": "-0.16",
    "market_id": "9444048",
    "order_id": "202748969784922122",
    "orig_price": 9999,
    "price": 7692,
    "quantity": 500,
    "side": "buy",
    "total_executed_quantity": 500
}

Is there something I am missing & should include something else in the request for my bets to be rejected if not immediately matched at the price I requested or is this a bug? I would ALWAYS like my bets to match at the prices I request & to not differ.

Thank you :slight_smile:

Hey Will. If you place an order at a certain price and there’s a more favourable one for you already in the book you’ll execute against the order at that more favourable price. You can’t disable this but we can guarantee you’ll never be executed at a less favourable price. If you’d tried to bet at 0.1% in this case for instance your order would’ve been immediately cancelled.

This system is called Best Price Execution and you can read exactly how this will effect your bet when matching at more favourable prices here: https://help.smarkets.com/hc/en-gb/articles/212729145-Best-price-execution

Hey Dave. Thanks for the explanation! I’ve actually heard of Best Price Execution before & knew how this operates. I just got confused with the conversion from probability to decimal odds for a moment but this is working as expected. Sorry for the confusion!