Betfair Question

[Lensen]

If, just for arguments sake, I have $10 on Collingwood to win the 2008 grand final at $8 on Betfair and next year they come into $4, can I use that $80 to lay Collingwood to lose, so I'm guaranteed a return? Or would I need to deposit another $80 and use this to lay?

 

[sethlad]

You can use the credit you've already got in the bet.
In your example you could lay then for $20 @$4 and keep the $10 profit. ($9.75 after 2.5% commission).
Out10 In: $19.75 no matter what the result,its called an arb.

seth

 

[Lensen]

Brilliant, answered my question perfectly, thanks a lot!

 

[johnnyhoward]

I was simply gonna reply to your original post: "the former" which would have given you the gist, but seth explained it perfectly.

I should also point out the Pies won't get down to $4 next year