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Hi Guys - I bet on here a lot but a friend of mine has asked me for some advice and it involves a lot of money so I would appreciate your input. He has an open bet on Leicester to win the PL. He placed £10 at 2,500/1. He is looking to potentially lay it off. Is the below correct?
If he lays them at 3.0 for £5k and Leicester win the league he will get £25,000 winnings but lose 15,000 on the lay bet. Profit of £10,000.
But if Leicester don't win the league he will lose his £10 original stake but will win £5,000 on his lay bet.
Any help would be appreciated.
If he lays them at 3.0 for £5k and Leicester win the league he will get £25,000 winnings but lose 15,000 on the lay bet. Profit of £10,000.
But if Leicester don't win the league he will lose his £10 original stake but will win £5,000 on his lay bet.
Any help would be appreciated.
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Thats wrong pal he would lose 10,000 on the lay part
stake 2 = 10 x 2501/(3-0.05)
= 10 x 2501/2.95
= 8,477.96
Lay £8,477.96 at odds of 3.00 (5% commission).
This gives you equal winnings on £8,044.06 (after commission and -£10 stake) whatever happens.
Me personally I would lay off less as I think Leicester will go on to win the league.
= 10 x 2501/2.95
= 8,477.96
Lay £8,477.96 at odds of 3.00 (5% commission).
This gives you equal winnings on £8,044.06 (after commission and -£10 stake) whatever happens.
Me personally I would lay off less as I think Leicester will go on to win the league.
Many thanks guys. Other than my appalling maths the concept is correct and he could guarantee himself a very tidy profit?
Yes a guaranteed profit unless the bookies close down
If you lay £5k at 3.00 it's only a liability of £10k. Try lay some off at smarkets or **** exchange it's 2% comm.
ffs :(
yes, it is not 15 loss on the lay it's 10!!
sorry :(
yes, it is not 15 loss on the lay it's 10!!
sorry :(
lay the lot, be great getting around 10000 for a losing bet. On the back of a couple of wins everyone is getting carried away, just remember Liverpool two seasons ago in almost identical position with regards winning title, cash in and sit back and watch the carnage unfold as it has done all season).
cool_hand_luke 07 Feb 16 11:19 Joined: 07 Oct 11 | Topic/replies: 166 | Blogger: cool_hand_luke's blog
lay the lot, be great getting around 10000 for a losing bet. On the back of a couple of wins everyone is getting carried away, just remember Liverpool two seasons ago in almost identical position with regards winning title, cash in and sit back and watch the carnage unfold as it has done all season).
Liverpool were 1.2 with 3 games to go. 2/1 with 14 games to game lol. LAY!!!!!!!!!!
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