Please Explain Betfair Laying?..

[Aussie Assault]

Can someone please explain how the laying part of Betfair works in the most simplistic way possible? I am not sure I am understanding it 100%..

For example say I was to put $20 on a horse to lose and I got $3 odds right. This means if it loses I collect $60, but if it does win do I have pay Betfair that $60?

Is it that simple? Or is there further complications? Is it easier to win on losers?

Thanks in advance to anyone who explains.

 

[CAS79]

Can someone please explain how the laying part of Betfair works in the most simplistic way possible? I am not sure I am understanding it 100%..

For example say I was to put $20 on a horse to lose and I got $3 odds right. This means if it loses I collect $60, but if it does win do I have pay Betfair that $60?

Is it that simple? Or is there further complications? Is it easier to win on losers?

Thanks in advance to anyone who explains.

Your not getting it at all, you dont get odds that it will lose as such, when you lay your giving the odds like a bookie would do on track.

So the 3-1 is the odds your giving the horse to win for the person matching the bet with you, assuming they back it for 20

So if the horse does not win you get the 20 (Minus commision) but if it wins you have to pay out 60 (40 loss) betfair only take the commison by the way as they are an exchange, not a bookie agency, they just provided the medium for the bet.

why dont you click on the lay side but not submit and do some hypotheticals.

 

[sethlad]

Theres a "Betfair" thread on here from a while ago,worth a read.

seth

 

[Almost Famous]

Id suggest having a look at the tutorial on the betfair site. Should help if things are stil unclear.

 

[Betfair Pro Punter]

just to keep it simple treat it as like this

do the inverse of the odds

Backing a team at 1.01= Laying a team at 100.00
" " at 1.02= " " a team at 50.00
" " at 1.10 =" " a team at 11.00
" " at 1.50 = " " a team at 3.00
" " at 1.60 = " " a team at 2.66
" " at 2.00 = " " a team at 2.00


its a thing called margins when you add it up

1/1.50 + 1/3.00 = 100% margin (which means in this case equivalent odds)

often you will see the TAB set an odds for a match say WCE 1.12 V 5.25 Carlton, that kind of margin would be 1/1.12 + 1/5.25 = 108.33%. Which means bookmaker takes 8.33% of profit presuming they get both sides matched with a fair amount of money.

 

[johnnyhoward]

Your liability (as is obvious) refers to how much you stand to lose when you lay. The stake is what you win (on the other end, it's how much the backer has bet).

So if I wanted to back a team at 4.00, and I put $20 on them, I would stand to win $80. [20 * 4 = 80]. Minus the stake [80-20], you would get $60 profit.

Now, on the other end in the same situation, the Layer has a liability of $60.

So put simply, backing is the opposite to laying. Liability is to a Layer what Profit is to a Backer; Profit to a Layer is the Stake of a Backer.

 

[CAS79]

Now does anyone want to train him how to lay the field in a horse race

 

[Betfair Pro Punter]

always you have to admit laying off at 1.0X for sports betting especially is an advisable idea.

You would be suprised how many events where 1.01's get smashed. especially for tennis, basketball, cricket innings by innings runs

 

[Aussie Assault]

Thanks for the help guys. I've been having a play around with over the past couple of days. Most of the horses i've layed I have got a collect on, but it only takes 1 donkey to get up and you're back to square one. Good concept though. Makes thing interesting.