How often are bets matched

[PieterKnops]

Hi!

I am playing around with placing bets via the sdk tools.
All bets have been matched successfully, and the outcomes match the payouts.
It is great to see the protocol working!

However, I just placed a bet on Lay bet on Home for the Full Time Result of Manchester United - Leeds United,
marketPk DTFdvNo7upJNxx9GUTQNcCXBQesJJNc1myL3ka4TFqyW
That bet was not matched. However, an opposite bet-order did exist with the same price.

The bet with stake $10.95 is mine, the bet with the same price (odd 1.5) and stake $50 is the one it should match with.

Is this normal behavior? How long would order matching normally take?

[PieterKnops]

Placing a bet with odd 1.51 (strictly greater than 1.5) still is not matched.
I also see that the away team outcome (not my orders) are not matched.

[obi-ewan]

Yes it could be that a newer/different bet was prioritised for matching when the crank came back online

In general back bets should match against the highest available price first, while lay bets should match against the lowest.

[PieterKnops]

Good to know!
Thanks for your speedy responses!

[varunsudhakar]

Pieter, to clarify matching is done based upon best price available and fifo (in order of priority). We are seeing that your order matched at 1.5, not 1.51. Could you confirm where you are seeing it matched at 1.51'

[PieterKnops]

Hi @varunsudhakar!

The expected price (even after matching) of the order is 1.51
Also, after payout (I won this bet) it seems like it has been 1.51
What is the definition of expected price? Is it recalculated after order matching? Or is it only an parameter upon order creation?

Settle transaction:
3j88BSDrqcUxfVcgGubxAejGhQU5af5EYUy5ePJ3rvVhEp8Z3yvZfCYFPYzVbdM1veNi3xmzAZ7Re9QH7mt4LKo5
OrderPK: i66NbdmziL771yFJY2pVHgCqNQjtjHmmnaCP9fFLt3Q

I cannot be sure that it has been matched with a price of 1.51.
That would have been obvious when I would have had lost this bet.

In any case, thanks for your reply!

[obi-ewan]

Hey @PieterKnops

expected_price does not get updated on matches, this is the price that the user chose to place the order at. It is "expected" as they will always be matched at this price, or a price which is more favourable for them - so it may vary but it is never updated. We should document this somewhere though.

When a match happens, a new trade account is created with the details of the actual match itself. Here is the trade account from one of your matches, you can see it was matched at a price of 1.5 https://explorer.solana.com/address/6hKRekkoThMD4pmuRt3oJHFmQakcJGHkYxCnQ3s8ckE7/anchor-account

For lay bets, if you are matched at a more favourable price you will generally be refunded a small amount of your liability - which you can see here during this matching transaction: https://explorer.solana.com/tx/3xe6Bsmh1DjAk1AuRog7kdkw8c6PkzSpbsvEJaCB5jgUMPmZCFnGsS5UVHLy85PkaUn9y3kjBCXvRnigRyeML6TX