How to Square a Lay Position

If you lay to "payout" rather than "liability" then you'd lay both for the same amount

Thanks for the reply.

Yes, I thought I wasn't specific in my earlier post. So if I lay 10 GBP on Under 2.5 goals @ 1.8 odds, then my liability is 8GBP and payout is 18GBP. Correct?

So, if I get you right, I have to lay Over 2.5 goals for 18GBP to break even. Is that right?

Iam new to Betfair, betting and especially lay betting and that is why I am asking.

It would be for both outcomes to be the same, not necessarily to break even

The payout thing works a bit like if you were the bookie.

You've taken a 10 GBP bet and another bet, and whatever happens you're paying out 18 GBP.

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If you want to know the break even point then you need to find the inverse of 1.8 in betting terms.

To do this, subtract the 1 to give 0.8 and hit the 1/x button on your calculator to give 1.25 Add the 1 back on and you get 2.25

You can see that's correct, as 1.8 is 4/5 and 2.25 is 5/4

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Not sure which of those two you meant so I answered both.

Your breakeven lay therefore would be to lay 2.25 to payout 18 GBP
18/2.25 = 8 GBP

You can see you've laid a bet for 10 GBP and another for 8 GBP so you're paying out 18 GBP.... the same as the money you've taken.

If you could lay 2.00 instead of 2.25, you'd lay 9 GBP, so you'd have taken bets worth 10+9 = 19 GBP and still only paying out 18 GBP, so you'd win a pound whatever happened.

Other than the phrase "Break even" the rest of your 2nd post is spot on.

Thanks again for the explanation. I guess I should have used the phrase "squaring the position" rather than "break even".

But  it did bring out some facts I did not know.

I still do not understand how I can win a pound whatever happens if I lay 9GBP on Over 2.5 @ 2.00 to square my previous position.

Here's how it is:
Earlier: 10GBP laid on Under 2.5 @ 1.80
Later: 9 GBP laid on Over 2.5 @ 2.00 to square my position
(in my case, at the time of trying to square my position, the rate for Over 2.5 was 4.0 and I should have then laid 6GBP, but I was trying to square only the 10GBP stake and the red coloured P/L indicators simply wouldn't go away)
Now if 3 goals are scored I lose the Over 2.5 lay I made later. How do I win a pound here?

If it's over 2.5 you lose the 9 GBP lay at evens, so you lose 9gbp
You collect 10 gbp from the lay of under 2.5

If it's under 2.5 you lose the 8 GBP from the 10 laid at 1.8
but you win the 9 GBP from the 2.0 bet.


When you've laid 1.8 on one side, and it's come in to about 1.33 (Making the other side 4.0, you'd have to lay 18/4.0 = 4.5 to square your position

In that instance, because your initial lay has gone badly you're going to lose. You've taken 14.50 GBP in bets and have to pay out 18 GBP, so you're going to lose 3.50
(If it goes under, you Pay 8 GBP to the 1.8 backer, but you recover 4.50 from the overs backer at 4.0
If it goes over, you pay 13.50 GBP to the overs backer at 4.0 but you recover 10 GBP from the initial bet)

this link can calculate the stake for it for u , but better to learn the basics which lori has explained beautifully

http://www.premierleague.com/page/FormGuide

(note the above link does not take commission into consideration)

oops wrong link.. try this

http://www.betcalc.com/backlaycalc.php