Understanding laying in betfair

jsmoke

jsmoke

jsmoke

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So there was a match 1-1 at 86mins and there was still an option to lay 2-2 at 100.

So say i put down a £2 stake(lay) on this, it says your liability is £198 and payout £200.

So i am right in saying that if the game ends not 2-2 then i make £200 by only staking £2 on the lay?

I was under the impression that i would only win what i staked on the lay i.e £2 and if i lost the lay in the case £198. Which is it.

Seems too good to be. I know i could also lose £198 by only betting £2 but not sure if i missed something here.
 
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Nope, the complete opposite.

What you lay is how much you'll get if correct. So if you lay £2 then you'll "win" £2 if you're correct (ie the other person's bet). Your liability is what will be taken out of your account if you lose (ie the other persons's winnings).
 
Russinating said:
Nope, the complete opposite.

What you lay is how much you'll get if correct. So if you lay £2 then you'll "win" £2 if you're correct (ie the other person's bet). Your liability is what will be taken out of your account if you lose (ie the other persons's winnings).
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That's what i thought, as you can see i've never bet on a lay but to the right hand side why does it say payout, £200 or so.
 
May as well keep this next question here.

So hedging(think that's the right term) on say the horses. If you look at this pic i have greened out about the first half of the field. Is this hedging and it is this a good strategy. Even though this is just test values i couldn't really practically lose here??

idszg4.jpg
 
When you lay on Betfair you are basically playing the role of the bookies, so if you lay 2-2 at 100 you are offering someone 99/1 that the game will finish 2-2, if they take your 99/1 and stick £2 on 2-2 you have to pay them out their winnings if they win (£198), if they lose you keep their stake.

jsmoke said:
May as well keep this next question here.

So hedging(think that's the right term) on say the horses. If you look at this pic i have greened out about the first half of the field. Is this hedging and it is this a good strategy. Even though this is just test values i couldn't really practically lose here??

http://i49.tinypic.com/idszg4.jpg
Click to expand...

Not sure about what hedging is but eventually an outsider will win and you'll be wiped out.
 
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mmj_uk said:
When you lay on Betfair you are basically playing the role of the bookies, so if you lay 2-2 at 100 you are offering someone 99/1 that the game will finish 2-2, if they take your 99/1 and stick £2 on 2-2 you have to pay them out their winnings if they win (£198), if they lose you keep their stake.



Not sure about what hedging is but eventually an outsider will win and you'll be wiped out.
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Got you, thanks. How about the above picture of the horses?
 
jsmoke said:
May as well keep this next question here.

So hedging(think that's the right term) on say the horses. If you look at this pic i have greened out about the first half of the field. Is this hedging and it is this a good strategy. Even though this is just test values i couldn't really practically lose here??

http://i49.tinypic.com/idszg4.jpg
Click to expand...

Yup, if an outsider wins, which isn't rare, then you'll be wiped out. Bookies aren't stupid :p
 
jsmoke said:
May as well keep this next question here.

So hedging(think that's the right term) on say the horses. If you look at this pic i have greened out about the first half of the field. Is this hedging and it is this a good strategy. Even though this is just test values i couldn't really practically lose here??

idszg4.jpg
Click to expand...

Out of interest, what calc did you use to work out your hedge amounts?
 
When dutching I use Betdaq rather than Betfair as I have a very handy tool for it. It's a dutching machine and you can get it for free from http://www.dutchingsoftware.com/software-for-dutching/

The company also does a free trial of it's Bet Angel professional software which is very good. Offers soccer and tennis traders which predict possible odds very accurately to help you plan. Once a trial is up you can take a license for £150 a year, which imo, is worth it if you are earning.

As you can see from my screen, the dutching machine lets you pick your selections, how much you want to stake or how much you want to win each race and it will do all the hard work for you. One click and your bets are placed. Horse Racing is OK, I do earn a bit from it, but soccer scores are best for dutching. Have earned a lot from that.

betdaqdutch.png


Also, just saw your example above. That's really not efficient dutching. You need the favourite to win to get any decent profit. The idea of dutching is to get an even profit no matter which of your selections wins. In my example, I will get a fiver whichever horse comes in.
 
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Dutching, that another term for the same thing? I found earlier when looking for an arbitrage calculator.

Have an example of a past soccer score you dutched?
 
Russinating said:
Dutching, that another term for the same thing? I found earlier when looking for an arbitrage calculator.

Have an example of a past soccer score you dutched?
Click to expand...


I think dutching is when you "green out" some possibilities(such as in my above example) whereas hedging is when you "green out" all and hence are guaranteed a win. So hedging is trading, back and lay in-play when the odds go the right way whereas dutching is trying to green out as many possibilities as possible probably pre outcome.
 
Hedging is called Greening up. You will find that a lot of third party software like Bet Angel has green up buttons that will do the math and automatically secure a profit if the odds go in your favour. Most can be set to automatically take a profit as well without you needing to do anything.

Big gamblers can back or lay a horse and green up before it's even ran if the market moves accordingly. This is how bookies work. They will take your bet at say, evens, the data will go through to central office and the bookies will back the horse elsewhere at 11/10, guaranteeing a small profit.

Dutching is as you say, betting on multiple outcomes that you think most possible. The example below is a dutch on a Finnish football match. I wouldn't actually do this dutch as I have no idea about the teams involved, it's just an example. But when it comes to teams you know about, pick 7 most likely results and there is a very good chance that one will be correct. Odds of 1/2 are not bad either for that many possibilities.

For example, say Man City were at home to Wigan. Home win all day long. But what odds are you going to get for the home win. You'll be lucky to get 1/5. However, if you back all winning scorelines and any other scoreline, basically covering all winning scorelines, you could be closer to 1/2-4/6. A nice difference.

betdaq2.png
 
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Gotcha, thanks for the info :).

You on Google Chat or Live Messenger at all? Not going to bombard you with questions as I've bet matched a lot in the past so understand it, just might be useful :)
 
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