Betfair Help needed.

Johnnytoxic · 18 Aug 2008 at 10:05

Hi guys,

I was searching on how to bet that Stoke Wouldn't be relegated this season. I think the only way you can do this is to Lay which doesn't really give good odds.

As I was looking I saw that if you Lay against Aston Villa been relegated (bet against), the odds are 490/1.

On a £2 stake

If you win you get £980
If you lose you have to pay £978

Does anyone think Aston Villa will be relegated?. This has to be a near certain oppourtunity to win £980. My question is does the liability money only come out of your account if you lose?

kempythe2nd · 18 Aug 2008 at 10:16

no you win £2 at a risk of losing £978 or whatever it was, i would not put much money in your account until you learn how Betfair works

Anewbe4u · 18 Aug 2008 at 10:18

Do not put that bet on!

Johnnytoxic · 18 Aug 2008 at 10:18

it said on payout £980, so where did that come from?

Tom0 · 18 Aug 2008 at 10:18

Johnnytoxic said:
Does anyone think Aston Villa will be relegated?

Not likely.

Go down your local bookies and talk to the guy behind the counter, you'll get far better odds and selection of special bets.

I only use websites for simple win/lose/draw bets.

Majago · 18 Aug 2008 at 10:24

Johnnytoxic said:
As I was looking I saw that if you Lay against Aston Villa been relegated (bet against), the odds are 490/1.

On a £2 stake

If you win you get £980
If you lose you have to pay £978

Does anyone think Aston Villa will be relegated?. This has to be a near certain oppourtunity to win £980. My question is does the liability money only come out of your account if you lose?

Unfortunately this is not true. It's a near certain opportunity to win £2 at the (albeit small) risk of losing £980.

When laying a bet you effectively act as a bookmaker. You are offering someone else odds of 490/1 that Villa won't get relegated. If they stay up you'll keep their £2 however if they were to get relegated you'll pay their bet of £2 at 490/1 - i.e. pay out £980.

Not worth it imho.

Johnnytoxic · 18 Aug 2008 at 10:32

Majago said:
Unfortunately this is not true. It's a near certain opportunity to win £2 at the (albeit small) risk of losing £980.

When laying a bet you effectively act as a bookmaker. You are offering someone else odds of 490/1 that Villa won't get relegated. If they stay up you'll keep their £2 however if they were to get relegated you'll pay their bet of £2 at 490/1 - i.e. pay out £980.

Not worth it imho.

thanks for clearing that up. I get it now.

lee32uk · 18 Aug 2008 at 12:54

The liability is taken from your account to cover the bet.If you havent got the funds in your account then it wont let you place the bet.
I lay horses on betfair every day.You need to be careful laying big odds, as you can get your fingers burnt.Eventually that 80/1 outsider will win.