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    Online betting for the General Election

    I have a tenner in an old Betfair account. I've never used that website before and don't quite understand it!

    I've pressed "lay" on a Labour majority, it says "your total liability on these bets: £640".

    What exactly does that mean? If I lose I gotta pay that?

    Probably a bad time to use Betfair for the first time, but I may as well use up my tenner!

    Rep for any help!

    13 Comments

    You're laying labour at approx 64/1:

    If Labour don't get a majority, you win £10 off whoever bet against you.
    If Labour do get a majority, you lose £640.

    yep if you lose you pay £640, if you win you win £10

    Original Poster

    Wow. I'll save my tenner. Thanks guys.

    If you want to do "normal" backing you just BACK it.

    Only lay if you want to be the bookie.

    nickw90;8539094

    Wow. I'll save my tenner. Thanks guys.



    Seems wise

    i betted £300 on a hung parlament, got 1.91 yesterday.

    Strange to have money in an online betting account that you've never used before.

    Daytrader;8540466

    i betted £300 on a hung parlament, got 1.91 yesterday.



    o/t i know but are you still in the markets atm?? Theyve taken a bashing over last few days

    treble99;8540542

    o/t i know but are you still in the markets atm?? Theyve taken a bashing … o/t i know but are you still in the markets atm?? Theyve taken a bashing over last few days



    yes i trade everyday live from 8am to 9pm, been shorting mainly, sold my rkh shares this afternoon for a 90% profit, they struck oil in the falklands, but keep it quiet hehe, its now up 124%, sold a bit early but still made over £4500 for a days work :thumbsup: was going to post details over on the rbs thread but forgot.

    Daytrader;8540593

    yes i trade everyday live from 8am to 9pm, been shorting mainly, sold my … yes i trade everyday live from 8am to 9pm, been shorting mainly, sold my rkh shares this afternoon for a 90% profit, they struck oil in the falklands, but keep it quiet hehe, its now up 124%, sold a bit early but still made over £4500 for a days work :thumbsup: was going to post details over on the rbs thread but forgot.



    lse.co.uk/Sha…per

    these ones above mate ......... ?

    smithyp1;8540787

    http://www.lse.co.uk/SharePrice.asp?shareprice=RKH&share=rockhopperthese … http://www.lse.co.uk/SharePrice.asp?shareprice=RKH&share=rockhopperthese ones above mate ......... ?



    Correct, DYOR

    Daytrader;8540823

    Correct, DYOR



    fantastic, great result, well done :thumbsup:

    Daytrader;8540593

    yes i trade everyday live from 8am to 9pm, been shorting mainly, sold my … yes i trade everyday live from 8am to 9pm, been shorting mainly, sold my rkh shares this afternoon for a 90% profit, they struck oil in the falklands, but keep it quiet hehe, its now up 124%, sold a bit early but still made over £4500 for a days work :thumbsup: was going to post details over on the rbs thread but forgot.



    Well done on RKH, wanted to get in when they announced the Sea Lion field but thought it was too late at 100p+, look at it now :(, oh well you win some and lose some

    Its a bit funny with RKH as even though theyve found oil, nothing to say whether its commercially viable yet, makes me laugh when you compare the rise in RKH comapred to GKP last year,

    Am long on Nat gas atm from 4.013, hoping for a bounce with crude, but apart from that am mostly out of the market atm or just taking small positions on fx,
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