'Laying' a bet on Betfair - Advice appreciated

Looking at Laying a bet on betfair, but don;t know how it works. If I want to gamble say £20, how do I do it? When I try £20 and the backers odds are 8, it comes up with a liability of £140. I have never done the Lay bets before.

Confused!

Cheers

7 Comments

if your liability is 140 for a 20 quid bet then you are effectively the bookmaker for others betting-thats how betfair works-you have clicked the wrong button methinks-you are risking 140 to win 20.

Original Poster

barky;8487977

if your liability is 140 for a 20 quid bet then you are effectively the … if your liability is 140 for a 20 quid bet then you are effectively the bookmaker for others betting-thats how betfair works-you have clicked the wrong button methinks-you are risking 140 to win 20.



I understand the basic concept. In a completely unpatriotic move I am thinking of 'Laying' a bet against England winning the world cup (it's then win win for me, i'll be happy if we win, but will have consolation if we don't!).

Just wanted to know a bit more detail on how much I should be putting down!

yeah a lay bet means that you are accepting a bet (or bets of up to) of £20 at the odds that you offer, so if you offer 5 to 1 odds then your liability is £80.

So in your case, if you want to win £20 then your liability is £140, if you only want to risk £20, then you're placing a bet of ~£2.85

Foxy102;8487995

I understand the basic concept. In a completely unpatriotic move I am … I understand the basic concept. In a completely unpatriotic move I am thinking of 'Laying' a bet against England winning the world cup (it's then win win for me, i'll be happy if we win, but will have consolation if we don't!).Just wanted to know a bit more detail on how much I should be putting down!



what can you afford to lose? you give odds of 10/1 people will bite your hand off,but to win 100 quid you will have to risk 1000!

Original Poster

barky;8488074

what can you afford to lose? you give odds of 10/1 people will bite your … what can you afford to lose? you give odds of 10/1 people will bite your hand off,but to win 100 quid you will have to risk 1000!



I ain't gonna risk it!

Foxy102;8488115

I ain't gonna risk it!



very wise,people get in trouble laying unless there experts,plenty of people layed Steve Davis against John Higgins in the snooker at massive odds and got there fingers burnt big time

Banned

I find golf is the best sport for laying bets by choosing about 10 golfers that are over 40/1

once they start doing well ,then offset your bet by betting on them. Conversely, if they do really badly then start betting on them at far greater odds than when you laid them. Won around £200 on the open with this method for a maximum initial risk of £40-£50 because only 1 of the 10 golfers could possibly have been a potential loss
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