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General Betting
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Im new to this whole laying idea and like the idea of it. Tell me if im wrong but here is how I believe it goes. I lay japan to beat england by offering odds of say 10/1 with a stake of £20. Someone takes up this bet and places £20 on this. England win, so I win my bet and win £20.
If japan win, I would then have to pay out £200.
Is it as simple as that??
If japan win, I would then have to pay out £200.
Is it as simple as that??
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Replies: 8
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Yes, and give them their 20 quid back so a 220 payout.
Check the "what if" box under more options (just above the pink bar at the top of the market) to see outcomes in red and green. You can tinker about with the odds and the amounts without entering the bet to see how it would turn out. Careful though, don't accidentally tap the return key, like I have.... quite a few times  |
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not quite that simple for a start japan are 14 to back at the moment so maybe 14.5 you could lay but that would cost you £270
england can win or draw for you to win your £20 but you pay commission of 5% so betfair takes £1 off your winnings leaving you with £19 |
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So if i use the lay option and I owe someone £220, how does that come out of my account. Does that come out of my account before the game and sit in a betfair account until the final whistle?
Basically does betfair check if you have the means of paying out before you can lay a bet |
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Yes. Your available funds are reduced by your liability.
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is it possible to make money on this by being clever or is it just another gamble???
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if you can lay at 10-1 when the price is 13-1 over the long term you'll win [;)]
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Ok martinjol, hook firmly in my lip...
If England score first, Japan's odds will go out to something like 25.0, then you can back 8 pounds at 25.0 which will give you 11.40 (after comm) whatever the result. |
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martinjol84 27 May 10 17:22
is it possible to make money on this by being clever or is it just another gamble??? Everything's a gamble but I do hear some bookies make a profit and they're as thick as sh!t, so it can't be that hard  |