Bit of betfair help for a newbie please folks - The Punters Lounge

jambo_makaveli · 25-01-2007, 14:22

Hi all, im a regular better, betting week in week out. and recently i got curious about betfair. i have just signed up, and am not sure about a few points.

firstly am i correct in saying that you can lose more than your stake. i.e if you place a bet at a price, and win, you'll get the given odds, bit if you lose you'll pay the person at the win odds. and this is called your liability?

BUT the main thing im having trouble understanding is:

Nottingham forrest, if i lay them (they dont win???) i get odds of 21, which means if i place 10 pounds on them not to win, then as long as chelsea win or the match is a draw, i get £210

sorry if people are reading this and thinking, god what a knob, but as i said, i have never ever used this type of betting.

its just that £10 on chelsea or a draw (i.e lay forrest) to win £210 seems very easy money, and thats why i think i have it wrong and need advice.

thanx in advance for any help anyone can give on the above!

And go easy please, im just a newbie.

MetallicIan · 25-01-2007, 14:31

Hi jambo and

Yes, you can lose more than your stake whenever you LAY a selection.

For odds of 21.00 as in your example above, your liability if Forest win is the (odds minus one) x your stake which is 20 x £10 = £200 liability.

The only time you Lose less than your stake when you lay is when the odds are les than 2.00.

When you win a lay bet, you win the same amount back as you staked (in your case £10) minus the Betfair commission which is around 5%.

jambo_makaveli · 25-01-2007, 14:40

thanx alot, that has really cleared up alot, good of you to reply so quickly.

the only one thing im not sure of is, you say if you win a LAY bet then you double what you put on, in this case £10, so i'd get back £20. is this always the case, whenever you lay a bet, if you win, you only double what you put on?

and also why is there a bit that says payout when your placing a lay bet, and its telling you payout will be 200 odd pounds?

thanx again for your help.

davidc · 25-01-2007, 22:15

The £200 is the amount that you stand to lose and the £10 is what you stand to win when you lay £10 @ 21.0.

Dices · 25-01-2007, 23:01

Jambo

Few things about laying :

Betfair Information Help

25-01-2007, 14:22	#1 (permalink)
jambo_makaveli Newbie Punter Join Date: 25 Jan 2007 Posts: 2	Bit of betfair help for a newbie please folks Hi all, im a regular better, betting week in week out. and recently i got curious about betfair. i have just signed up, and am not sure about a few points. firstly am i correct in saying that you can lose more than your stake. i.e if you place a bet at a price, and win, you'll get the given odds, bit if you lose you'll pay the person at the win odds. and this is called your liability? BUT the main thing im having trouble understanding is: Nottingham forrest, if i lay them (they dont win???) i get odds of 21, which means if i place 10 pounds on them not to win, then as long as chelsea win or the match is a draw, i get £210 sorry if people are reading this and thinking, god what a knob, but as i said, i have never ever used this type of betting. its just that £10 on chelsea or a draw (i.e lay forrest) to win £210 seems very easy money, and thats why i think i have it wrong and need advice. thanx in advance for any help anyone can give on the above! And go easy please, im just a newbie.

25-01-2007, 14:31	#2 (permalink)
MetallicIan Heavy Metal Punter Join Date: 03 Dec 2003 Posts: 1,509	Re: Bit of betfair help for a newbie please folks Hi jambo and Yes, you can lose more than your stake whenever you LAY a selection. For odds of 21.00 as in your example above, your liability if Forest win is the (odds minus one) x your stake which is 20 x £10 = £200 liability. The only time you Lose less than your stake when you lay is when the odds are les than 2.00. When you win a lay bet, you win the same amount back as you staked (in your case £10) minus the Betfair commission which is around 5%. __________________ "The closer you get to the meaning, the sooner you'll know that you're dreaming."

25-01-2007, 14:40	#3 (permalink)
jambo_makaveli Newbie Punter Join Date: 25 Jan 2007 Posts: 2	Re: Bit of betfair help for a newbie please folks thanx alot, that has really cleared up alot, good of you to reply so quickly. the only one thing im not sure of is, you say if you win a LAY bet then you double what you put on, in this case £10, so i'd get back £20. is this always the case, whenever you lay a bet, if you win, you only double what you put on? and also why is there a bit that says payout when your placing a lay bet, and its telling you payout will be 200 odd pounds? thanx again for your help.

25-01-2007, 22:15	#4 (permalink)
davidc Shrewdie Punter Join Date: 24 Jul 2005 Posts: 674	Re: Bit of betfair help for a newbie please folks The £200 is the amount that you stand to lose and the £10 is what you stand to win when you lay £10 @ 21.0.

25-01-2007, 23:01	#5 (permalink)
Dices Dedicated Punter Join Date: 18 Dec 2006 Location: Greece Age: 39 Posts: 251	Re: Bit of betfair help for a newbie please folks Jambo Few things about laying : Betfair Information Help Last edited by Dices; 25-01-2007 at 23:02.

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