mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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I'm not sure I'm completely understanding this. I use Betfair and so far only ever back, never tried laying as I'm not confident enough to know what I'm doing.
e.g.
I've put Chelsea to win 6-0 tomorrow at 22/1. I've put £5 on so if I lose my £5 is gone and if I win I get £110.
Was looking at the other scores and odds and saw you can get 999/1 if you lay against the score being 7-2. So if you put £5 on that and it happens I would have to pay out £4,995? But if it wasn't 7-2 how much would I get? £5,000? And I've only put £5 on?
I think I'm being thick and missing something here 
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Pop
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Registered: 8th May 03
Location: Reading
User status: Offline
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Laying the above would win you £5 if the score wasn't 7-2
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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No, you'd get £5 but would need £4995 to cover the liability.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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lolz cheers. I'm sticking to backing.
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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You should look into it more as I use laying to protect profit.
For example, you back Team A to win. When Team A are in the lead you can lay them for the same amount you backed them to make sure you atleast win some money from the game.
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mwg
Member
Registered: 19th Feb 04
Location: South Lakes
User status: Offline
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So basically I'm taking the role of the bookie if I'm laying
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Pop
Member
Registered: 8th May 03
Location: Reading
User status: Offline
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Basically you are betting that something won't happen.
If you layed Team A you would win if Team B won or it was a draw.
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
User status: Offline
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quote:
Originally posted by mwg
So basically I'm taking the role of the bookie if I'm laying
Spot on
Any questions just ask me mate
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Chris
Premium Member
Registered: 21st Sep 99
User status: Offline
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There could be a number of scorces from 0-0 to 8-0 to each time so loads off possible final scores.
What i tend to do is mached bettin on the odd then as the match progresses the odds swap at this point place a bet to counter the loses of the 1st bet.
Either way in a months time the bookie will have all his money back, but its fun trying to win.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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quote:
Originally posted by Chris
Either way in a months time the bookie will have all his money back, but its fun trying to win.
Depends how you do it. I did it for a couple months a year or so ago and was £500 up. If you work on the places giving free bets you can turn a free bet into cash.
The problem is once you have worked through all the initial offer it becomes much harder work
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