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Hi,
Why is there a gap between the best back and the best lay price?
Surely if I lay at 4 then someone should be taking the other side of the bet at 4 and not 3.95. Where's the .05 going?
Why is there a gap between the best back and the best lay price?
Surely if I lay at 4 then someone should be taking the other side of the bet at 4 and not 3.95. Where's the .05 going?
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I think, if this question is serious, then you really need to learn a basic understanding of how the exchange works.
Back prices being offered are really layers money. Lay prices are really backers. The figures on the screen are the unmatched bets waiting for someone to take them. When you click on the lay side, you are taking a backers money, and when you click on the back side, you are taking a layers money.
As to why you can't instantly have a back and lay bet at the same price, well Betfair made it that way. Same as they made miminum price of 1.01, maximum price of 1000, and minimum stake of 2 pounds
Back prices being offered are really layers money. Lay prices are really backers. The figures on the screen are the unmatched bets waiting for someone to take them. When you click on the lay side, you are taking a backers money, and when you click on the back side, you are taking a layers money.
As to why you can't instantly have a back and lay bet at the same price, well Betfair made it that way. Same as they made miminum price of 1.01, maximum price of 1000, and minimum stake of 2 pounds
Thanks Hoo Roo.
I'm clearly quiet dense but I'm still unsure if I get it.
Again looking at the same market, the best back is 3.95, the best lay is 4.
I submit a back at 4 that goes unmatched. But why is it going unmatched? Someone is willing to lay the bet at 4 so why doesn't betfair match the bet?
I'm clearly quiet dense but I'm still unsure if I get it.
Again looking at the same market, the best back is 3.95, the best lay is 4.
I submit a back at 4 that goes unmatched. But why is it going unmatched? Someone is willing to lay the bet at 4 so why doesn't betfair match the bet?
It's because it's the other way around like HooRoo said.
'The best lay' is actually people like you trying to back at 4. This is then displayed on the lay side, as you will be laying at 4 if you select this.
If you try to back at 4 your money is added to the queue.
You'll see the £ amount underneath the odds of four increase by the amount of your bet.
'The best lay' is actually people like you trying to back at 4. This is then displayed on the lay side, as you will be laying at 4 if you select this.
If you try to back at 4 your money is added to the queue.
You'll see the £ amount underneath the odds of four increase by the amount of your bet.
So actually, there is no-one willing to lay at 4. There are people willing to lay at 3.95.
Think its finally clicked. Thanks Investor and HooRoo!
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