LimitOrder, LimitOnCloseOrder, MarketOnCloseOrder

[99ticks]

Can someone please explain to me the difference between these 3?

I'm using a system that involves placing 3 bets simultaneously in 2 markets, I had been using LimitOrder, quoting the most recent price I gleaned from the API, however sometimes the price slips.

So if I quote a lower price on a back bet in a limitOrder will that try to match any price >= that price?

Am I right in saying a LimitOnCloseOrder waits until the market turns in-play and then checks that the opening price is beyond a certain threshold before placing the bet?

as for MarketOnCloseOrder, from the API docs it says Bets remain unmatched until the market is reconciled.

What does this mean? Appreciate if anyone could explain these to me, I'm fairly new to this.

[betdynamics]

A limitOrder is a standard bet. Assuming funds are available, then the bet will be matched at the requested odds or better. For a back bet, this means at the requested odds or higher; for a lay bet, this means at the requested odds or lower. Matching occurs at the best odds available.

A marketOnCloseOrder is just a BSP bet (with no odds limit) - i.e. you will be matched at the BSP odds.

A limitOnCloseOrder is a BSP bet with an odds limit - i.e. you will only be matched at the BSP odds if they are:
i) for a back bet, greater than or equal to your odds limit
ii) for a lay bet, less than or equal to your odds limit