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Author Betfair and "laying" bets
BarnshaW
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9th Jul 10 at 17:40   View User's Profile U2U Member Reply With Quote
i know there are a few betting gurus on here, can someone explain to me in a bit more detail about "laying" bets, i understand this means that you are betting on an event NOT to happen? I understand its high risk as you can lose alot.

So just to understand for example, it says on betfair for the netherlands and spain game that bankers odds are 8.4 for a 0-0 score, so if you bet 2 quid and the result is anything but 0-0 will you win £16.80?
BarnshaW
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9th Jul 10 at 17:41   View User's Profile U2U Member Reply With Quote
but also potentially lose 14.80 if the score is 0-0?
JonnyJ
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9th Jul 10 at 17:57   View User's Profile U2U Member Reply With Quote
When laying you win the amount you stake. So if you lay £2 on 0-0 and it finishes anything but 0-0 you win £2. You would lose £16.80 if it finishes 0-0

Its basically like been the bookie. Imagine someone came in and staked £2 on 0-0, you take their £2 and if the result isn't 0-0 you keep their £2, if it is you must pay them their stake back and the money they won on the odds you gave them.

[Edited on 09-07-2010 by JonnyJ]
Steve
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9th Jul 10 at 17:58   View Garage View User's Profile U2U Member Reply With Quote
what is the point in that bet
BarnshaW
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9th Jul 10 at 17:59   View User's Profile U2U Member Reply With Quote
are you sure jonnyJ? that cant be right?
AndyKent
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9th Jul 10 at 17:59   View User's Profile U2U Member Reply With Quote
What Jonny says. If it's anything but 0-0 you make a massive loss compared to what you might win if a goal is scored.
AndyKent
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9th Jul 10 at 18:00   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Steve
what is the point in that bet


If you think there's going to be a goal, but not sure what side or the final score, it's maybe not a bad bet.
Steve
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9th Jul 10 at 18:01   View Garage View User's Profile U2U Member Reply With Quote
yes but from what i gather you only win your stake back so whats the point
BarnshaW
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9th Jul 10 at 18:02   View User's Profile U2U Member Reply With Quote
well how come when you go to place a bet on Lay, and i am using this example it says this:

0-0 win on sunday is 8.4 bankers odds, so when you put stake in as £2 it has 2 options to check, it says liability is (£14.80) and payout is £16.80?
JonnyJ
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9th Jul 10 at 18:02   View User's Profile U2U Member Reply With Quote
Its a little risky because the odds are high, so you are risking losing a lot, however 0-0s are rare in football and if you think that you are getting value in that match then you go for it. If you think the odds are too high for a 0-0, then id be backing it, not laying.
Steve
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9th Jul 10 at 18:03   View Garage View User's Profile U2U Member Reply With Quote
fuck this
JonnyJ
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9th Jul 10 at 18:04   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by BarnshaW
well how come when you go to place a bet on Lay, and i am using this example it says this:

0-0 win on sunday is 8.4 bankers odds, so when you put stake in as £2 it has 2 options to check, it says liability is (£14.80) and payout is £16.80?


because it will automatically take £14,80 out of your account, as that is your liability, you need enough money to cover your liability. If you win you get your liability back plus your £2. Get it now?
BarnshaW
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9th Jul 10 at 18:04   View User's Profile U2U Member Reply With Quote
ah i understand now, cheers
JonnyJ
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9th Jul 10 at 18:06   View User's Profile U2U Member Reply With Quote
It can be confusing at first, i agree
Steve
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9th Jul 10 at 18:11   View Garage View User's Profile U2U Member Reply With Quote
can someone please explain to me what the point of the bet is if you dont actually win anything
oceansoul
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9th Jul 10 at 18:14   View User's Profile U2U Member Reply With Quote
Its the final. There will deffo be a goal at somepoint......
BarnshaW
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9th Jul 10 at 18:16   View User's Profile U2U Member Reply With Quote
you bet on the event not to happen steve, so if you bet 2 quid you will lose 16.80 if the score is 0-0, if it is anything but 0-0 you win £2. so basically your stake you select is how much you want to win however the more you want to put to win the higher the liability.
BarnshaW
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9th Jul 10 at 18:16   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by oceansoul
Its the final. There will deffo be a goal at somepoint......


its upto 90 mins, does not include extra time or penalties
Steve
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9th Jul 10 at 18:20   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by BarnshaW
you bet on the event not to happen steve, so if you bet 2 quid you will lose 16.80 if the score is 0-0, if it is anything but 0-0 you win £2. so basically your stake you select is how much you want to win however the more you want to put to win the higher the liability.


but if your betting 2 quid and winning 2 quid whats the point what am i missing
BarnshaW
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9th Jul 10 at 18:25   View User's Profile U2U Member Reply With Quote
you win your stake back plus the 2 quid.....
Steve
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9th Jul 10 at 18:27   View Garage View User's Profile U2U Member Reply With Quote
got it
strick206
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9th Jul 10 at 18:29   View User's Profile U2U Member Reply With Quote


JonnyJ has got it all spot on

Steve if you lay something say 0-0 at 8 on betfair

You'd be risking 14quid if you staked 2 quid on the lay, if it wasn't 0-0 you would get 16 back (your 14quid risked plus 2quid won from whoever took your bet)

So you risk 14quid to win 16

EDIT - TOO SLOW

[Edited on 09-07-2010 by strick206]
BarnshaW
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9th Jul 10 at 18:31   View User's Profile U2U Member Reply With Quote
dont sound very good then unless you have a good certainty in the game? I am pretty new to it all and finding best results from smaller multiple bets on like two or three games. good fun though it is.
JonnyJ
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9th Jul 10 at 18:31   View User's Profile U2U Member Reply With Quote
You fucking retard Steve. Sort your fucking lips out
strick206
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9th Jul 10 at 18:50   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by BarnshaW
dont sound very good then unless you have a good certainty in the game? I am pretty new to it all and finding best results from smaller multiple bets on like two or three games. good fun though it is.


Be very careful with laying, i do it every day nearly with my job and deal with it for my job as well

The thing is, it's just being the bookie thats all

Whenever we lay a bet at 7/1, we are effectively backing 1/7 that it doesn't happen if you get me

So you have 2 quid at 7/1, and win 14 plus your stake back, we have 14 at 1/7, win win your 2 quid and our 14 back

Laying at bigger prices like that can be dangerous, but you could lay man united to beat blackburn at about odds of 1.2, so you could have 10 on that, risking 2 quid so you get 12 back if united didn't win, and lose 2 if they did

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