Overnight exchange price movements
-
Sunderland play Boro today and I notice that Boro’s price on Betfair contracted sharply overnight from around 3.2 to under 2.9. At the same time Sunderland have drifted from 2.6 to over 2.9.
The Betfair graphs indicate this was probably a result of a large £3.5k lay bet on Sunderland. Although the Boro price fell in line with the Sunderland price rise (market forces and all that), there were 2 hefty single lay bets on Boro thereafter (both in excess of £4K) that seemed to be trying to push the Boro price back out.
What causes this? Is it just bookies dumping their liabilities onto the exchange early? Paddy for example might well have taken a fair number of bets on this game given the promo they are running on it.
There can’t be any external forces at play overnight can there? It’s not like when the team news is released an hour before the game and market prices react to the star striker being unexpectedly left out…
