Joined: Oct 09 2004 Posts: 4129 Location: The land of gods
Just had a look on betfiar and I am a complete novice on the 'lay' betting.
Am I correct in thinking that I can stake 5 pound on Slovenia AGAINST the win at 30/1. It says my liability is £145 pound, if they do win. However, If Slovenia do not win, I would win 150 pound. So I would lose 150pound in total if Slovenia did win, but If they didn't I would gain £150 pound in total?
Not going to take this bet by the way, but I am just making sure I fully understand? If this is correct, no wonder so many people use Betfair, (to cover there bets in play etc)
Joined: May 09 2003 Posts: 5103 Location: Not Ford Field
Invincible wrote:Just had a look on betfiar and I am a complete novice on the 'lay' betting.
Am I correct in thinking that I can stake 5 pound on Slovenia AGAINST the win at 30/1. It says my liability is £145 pound, if they do win. However, If Slovenia do not win, I would win 150 pound. So I would lose 150pound in total if Slovenia did win, but If they didn't I would gain £150 pound in total?
Not going to take this bet by the way, but I am just making sure I fully understand? If this is correct, no wonder so many people use Betfair, (to cover there bets in play etc)
I may be wrong but I think all you would get is the £5 stake if Slovenia don't win. You play the bookie when you lay so you are effectively offering another Betfair customer the bet at 30/1. Should Slovenia win you would have to pay the other guy £150
El Pac Carnegie wrote:I may be wrong but I think all you would get is the £5 stake if Slovenia don't win. You play the bookie when you lay so you are effectively offering another Betfair customer the bet at 30/1. Should Slovenia win you would have to pay the other guy £150
I don't use betfair but that would be my understanding too. (A layer is the same as being a bookie in that circumstance).
Joined: Oct 09 2004 Posts: 4129 Location: The land of gods
Wanderer wrote:I don't use betfair but that would be my understanding too. (A layer is the same as being a bookie in that circumstance).
So If I were to stake 3 pound at 10/1 on Slovenia not to win. The liability is 27pound, would that mean they would take 27 pound plus the stake out of my account until the result is settled?
May have 3 quid on (well 30) to add abit of interest into the game, if it's as bad as the one on Friday.
Joined: May 09 2003 Posts: 5103 Location: Not Ford Field
Invincible wrote:So If I were to stake 3 pound at 10/1 on Slovenia not to win. The liability is 27pound, would that mean they would take 27 pound plus the stake out of my account until the result is settled?
May have 3 quid on (well 30) to add abit of interest into the game, if it's as bad as the one on Friday.
I've never laid a bet on Betfair to be honest. I'd expect that your liability stake will be locked away until the result. Then you will either gain the stake or pay out.
Invincible wrote:So If I were to stake 3 pound at 10/1 on Slovenia not to win. The liability is 27pound, would that mean they would take 27 pound plus the stake out of my account until the result is settled?
May have 3 quid on (well 30) to add abit of interest into the game, if it's as bad as the one on Friday.
Its 9.4 to lay Slovenia so to win £30 profit
Your stake would be £252 which as a normal bet goes out of your account.
If Slovenia then don't win you get £282 back you have to pay 5% comm though
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still been running well on good ground and can be thereabouts again today
