It's been a long time coming, but, here at www.backandlay.com, we're starting to get quite excited because we're close to releasing an Application Programming Interface (API) which, along with customer support, will be FREE to any of our customers who wishes to use it.
What is an API?
An application programming interface (API) is the interface that a computer system or application provides in order to allow requests for service to be made of it by other computer programs, and/or to allow data to be exchanged between them
" One of the primary purposes of an API is to provide access to a set of commonly-used functions."
One of the primary purposes of an API is to provide access to a set of commonly-used functions.
APIs, like most interfaces, are abstract. Software that provides access to itself via a given API, implements that API.
Our API will enable customers to bet using their own software, rather than by having to go through the interface at our website.
And, like our website, it will benefit from lvie streaming.
It enables the software to ask pertinent questions - 'what markets are there?' 'what outcomes are in those markets?' 'when do those markets close?' 'what open bets are available on each outcome in each market?' 'has that information changed since I last asked these questions,' 'tell me when one of my bets has been matched.'
And, of course, it enables users to place open bets, match existing open bets and generally bet on the exchange.
It is our hope that it will encourage more price-setters to use the exchange.
As we all no doubt know, price-setting on an exchange can be a risky business if done manually.
The customer who doesn't monitor all his/her open bets constantly risks getting ''picked off'' when the market moves.
"It could even facilitate offering bets then hedging them at better odds elsewhere "
The API opens up the possibility of trading on backandlay, using software which obtains its prices from elsewhere and constantly updates them in line with market moves elsewhere, thus much reducing the exposure of the trader.
It could even facilitate the offering of bets then hedge them at better odds elsewhere.
And, of course, many others may have their own unique strategies reflected in the programming of their software.
We're not expecting the advent of the API to bring instant liquidty but, in the 12-18 months following its release, we hope for a steady build up in liquidity.
Something that can only be good for our user base.
BBC
