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lay betting

sunsetman Avatar
6y, 5m agoPosted 6 years, 5 months ago
im thinking of sticking £20 on algeria to lose at 17/1 so im assuming should they lose or draw id win around £350 is that right.

any advice greatly appreciated
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sunsetman Avatar
6y, 5m agoPosted 6 years, 5 months ago
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banned#1
Wrong.
#2
The odds on Algeria losing won't be 17/1.
#3
ill take those odds!
#4
betfair is showing lay odds of 17.5 so where am i going wrong just saying wrong doesnt really help much
#5
Algeria to win are 12/1
#6
LOL @ this thread
banned#7
sunsetman
betfair is showing lay odds of 17.5 so where am i going wrong just saying wrong doesnt really help much


So you're betting against Algeria losing?
#8
sunsetman
betfair is showing lay odds of 17.5 so where am i going wrong just saying wrong doesnt really help much


that will be to win mate, not to lose.
#9
If you back them to lose you won't get a return if they draw
banned#10
stick a grand on
banned#11
sunsetman
betfair is showing lay odds of 17.5 so where am i going wrong just saying wrong doesnt really help much


I really think you should read up on laying before you have a bet - if you lay £20 at 17.0 if they don't win you will win £20, if they do win you will lose £340. Plus your op doesn't make sense, you say you are backing them to lose then talk about if they draw you'll win. If you want to back them to lose just back england to win at around 2/7

vengod
Algeria to win are 12/1


17.0 on betfair
#12
when i click on the lay bet it says you are betting against algeria to win
#13
Algeria are probably 17/1/ to win.

If you lay them at £20 it means you are basically backing an England win or a draw.

If you lay £20 on Algeria, if it is a draw or England win you will get £20. If Algeria win then you would have to pay out £340 as somebody will be taking the bet you offered/layed of £20 @17/1.
#14
colinsunderland
I really think you should read up on laying before you have a bet - if you lay £20 at 17.0 if they don't win you will win £20, if they do win you will lose £340. Plus your op doesn't make sense, you say you are backing them to lose then talk about if they draw you'll win. If you want to back them to lose just back england to win at around 2/7



17.0 on betfair


+1

The £350 is your liability not winnings.
#15
classic post, thanks for the laugh,even if a windup still very funny :)
#16
As Colin says, you need to do some more research. Your liability on lay bets is far more than your initial bet.
#17
im so confused i think my backing switzerland to win has made my mind goto mush
#18
on the site it shows liabilty and payout
banned#19
seriously, if you don't understand what you are doing - don't bet.
Laying isn't for the faint hearted at the best of times.
I think in the match tonight I'll be doing a back of England before the game, aiming to lay it off when we score the first goal
#20
Lay betting on Betfair is always 'evens'. So when laying a result you only double your money.

Bear in mind your liability of £340 must be paid upfront also so your bet would cost you £360 for a potential return of £20 plus your stake back.

It is confusing and I can see how you easily thought that, I remember when I first started thinking the same.
#21
sunsetman
im so confused i think my backing switzerland to win has made my mind goto mush


Just think of yourself as the bookie. Someone gives you £20 on an event thats not likely to happen, so you have to give big odds. But if it does happen you will have to take the burden and pay out lots.

In lay betting your taking the traditional role that is the bookie (very simplified example, but should help you get the idea)
banned#22
DJNG22
Lay betting on Betfair is always 'evens'. So when laying a result you only double your money.

Bear in mind your liability of £340 must be paid upfront also so your bet would cost you £360 for a potential return of £20 plus your stake back.

It is confusing and I can see how you easily thought that, I remember when I first started thinking the same.


obviously as laying isn't always evens :w00t:
#23
think ill forget it and just be pleased with my switzerland bet and thanks for all the help it is most appreciated
#24
Some classic replies in this post, no wonder the bookies make as much as they do. Levis24 you have some contenders.
#25
colinsunderland;8864972
obviously as laying isn't always evens :w00t:


Please read my post again............
Lay betting on betfair is always paid out at evens. :thumbsup:

From Betfair's website............
If you win your £4.70 will be returned along with your winnings of £2.00, yes all lay's are paid out as evens bets, whatever you bet, if you win you get back that amount(minus commission).

Laying is not always evens, but on Betfair it is.............. :thumbsup:
#26
think you will find its 1/17 odds, so for every £17 you place you will get £1 back
banned#27
DJNG22
Please read my post again............
Lay betting on betfair is always paid out at evens. :thumbsup:

From Betfair's website............
If you win your £4.70 will be returned along with your winnings of £2.00, yes all lay's are paid out as evens bets, whatever you bet, if you win you get back that amount(minus commission).

Laying is not always evens, but on Betfair it is.............. :thumbsup:


i dont know where it says that on betfair, but prices are different for each event. Please can you tell me how to lay algeria at evens? I'll do a couple of grand at that price then back back at 17.0 to return a nice profit :thumbsup:
#28
^^^ I think what he is saying is that on betfair.

If you back you put the amount you want to back and it returns what you will win.

If you lay you put in what you want to win and it returns what you have to bet.

I sort of see where he is coming from. Whatever you bet you get back if you win.

But you are right this thread is full of misinformation and a right old laugh.
#29
colinsunderland
i dont know where it says that on betfair, but prices are different for each event. Please can you tell me how to lay algeria at evens? I'll do a couple of grand at that price then back back at 17.0 to return a nice profit :thumbsup:


This is a shady explanantion but here goes.........

If you lay Algeria for £2000 on betfair your liability is (current odds 16.5) £31000 that is payable upfront, so your initial bet is £33000.
You will need to cover that bet incase Algeria win so at 16.0 you will need to back with a bet of £2070 to guarantee a return of £33070 (with your stake back that will cover your liability)

So far you have bet £35070

If Algeria lose/draw (most likely) you will be down because even though you get the £2000 lay winnings you had to bet £2070 on the chance they might win (minus commisson you would be considerably down)

If Algeria win then you would get £33120 with stake back (less after commission), so once you have paid your liability of £33000 for Algeria failing to lose/draw you would be left with nothing

So for an initial £35070 outlay you will break even at best but you will most likely lose money.

There are probably better bets out there.
#30
could lay a cheeky tenner on england losing duno what sort of return you would get back on that but you would only be liable for the tenner but could end up with a good profit as they are the favs

I have got that right havent I?

what I mean is if I made the liability £10...then that would be all that I would have to pay
#31
Oh man, not sure if i sure laugh or cry at this thread.

Try this.
Whatever you back (in blue on betfair) or lay (pink on betfair) try the following simple formula.

Split the number into two parts, example, backing at 3.6
Take 1 whole integer, i.e. 1 off the 3.6 leaving, yes, 2.6

If you back, £10, you would win, £26, less your betfair commission.

Now, if you lay, it's similar.
You lay at 3.6 and lay down £10.
You would payout would £26

Remember, with decimal betting always take 1 off the number to the left of the decimal point.

If you see odds of 1.4, you are looking at 40p in the pound profit or loss and looking at odds of 17.4 you are looking at £16.40 per pound profit or potentail loss.
banned#32
DJNG22
This is a shady explanantion but here goes.........

If you lay Algeria for £2000 on betfair your liability is (FAS) £34000 that is payable upfront, so your initial bet is £36000.
You will need to cover that bet incase Algeria win so at 16.0 you will need to back with a bet of £2267 to guarantee a return of £34000 (with your stake back that will cover your liability)

So far you have bet £38267

If Algeria lose/draw (most likely) you will be nearly £300 down because even though you get the £2000 lay winnings you had to bet £2267 on the chance they might win (minus commisson you would be considerably down)

If Algeria win then you would get £36267 with stake back (less after commission), so once you have paid your liability of £36000 for Algeria failing to lose/draw you would be left with nothing.

So for an initial £38200 outlay the best you can hope for is to break even but you will more than likely lose money.

Does that make sense?


Yes of course, but you aren't just laying there you are backing and laying.
I regulary lay at 1.01 on bf
#33
yer a lay bet you say what you want to WIN, so you mention £20 that is what you would win if algeria lose or draw, if algeria win however you will be £350 out of pocket as that is your liability
#34
colinsunderland
Yes of course, but you aren't just laying there you are backing and laying.
I regulary lay at 1.01 on bf


Yes, you said you could lay a couple of grand on Algeria and then back at 17.0 for a tidy profit.

I am saying you can't.
banned#35
DJNG22
Yes, you said you could lay a couple of grand on Algeria and then back at 17.0 for a tidy profit.

I am saying you can't.


yes I said I would lay a couple of grand at EVENS, then back back at 17.0 for a guaranteed profit, after you said all lay bets on betfair were evens.

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