Limit Orders - Do they/Will they Exist?

Pretending · Sep 17, 2003

Let's say I'm willing to lay 3 points for XYZ but the line is -3.5. Will I ever be able to place a -3 limit and get the order filled if and when the line drops?

Does this exist already for large or established players? Thx.

Pretending · Sep 17, 2003

Just a bump here. Anybody know if there's a possibility for limit orders; now or in the future? thx!

oilman · Sep 17, 2003

Interesting idea. I don't know of any book that offers that, but you can set up that feature on DB to alarm you when/if your line hits.

Chadster · Sep 17, 2003

I would say its a screen watching thing.

knish · Sep 17, 2003

used to be able to put orders in at cris...very useful...dont know if they still take them though

Pretending · Sep 17, 2003

That's good to know oilman, thx. I assume that's part of their pay-for service??

qs185 · Sep 17, 2003

I think you will see this at some point in the future.

On person-to-person betting sites, you could set up the wager and see if anyone takes the other side of it. They probably wouldn't while the line is at -3.5, but if the line drops, you should be first in line with having the line of -3 available.

Bart

oilman · Sep 17, 2003

Pretending,

Yes.

scott · Sep 17, 2003

I'm putting in two orders: -2.5 and + 3.5
Two more: -6.5 and +7.5
Mabey also 1 to pk or 1.5, might as well since I only get the best of it.
I'm also going to set my screen to notify me of these moves and my MW screen to notify me of middles. Good plan huh?.....
ScottyS

drunkguy · Sep 17, 2003

"Trading" sites (tradesports, etc) already have this implemented.

Will never happen at a traditional book. Will give the book too much information on who the players are looking to hit and at what number. Let's say team A is favored by 3.5 and a book had tons and tons of limits at -3. Will they have the balls to move to that number knowing it will immediately be pounded into the ground??

Personally, I don't want to give my book any information until my bet is in...

Pretending · Sep 18, 2003

drunkguy, It may be wise not to place a big order away from the spread, but your example is one reason why I suspect the books might like this. If they see all those big orders at -3, then they know something about what will occur if they move it. Fact is, they could fill some at -3 without ever moving the published spread; though this will no doubt offend some players. But I don't see how more information is a negative for the books. There may be other negatives on their side that I have not thought of, aside from costs to implement, but so far I suspect it is a net-positive for the books.

Limit orders work fine in the stock mkt and big players who don't want to reveal anything simply wait for things to move first.

Being a little schmuck myself, I don't mind placing my little order and going back to the day job, living my life, etc. I hate checking lines all bloody day to see if my pick is playable or not.