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Hi Mark, your username is:
laybotpro |
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Hello Mark,
Why is it that at high street bookies you can bet something will happen, but not that it won’t? Well at Betfair you can. It’s a really exciting way to bet and you can
do it whenever you want. |
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“I bet you won’t get a bullseye”, “I bet you won’t finish all that”, “They’ll never win if he plays.” We all make statements to friends like this every day. What you’re actually doing is ’laying a bet’: betting something won’t happen.
Betting that something won’t happen is one of the great innovations of Betfair. Try doing this at a normal bookie and they’ll laugh in your face. Do it with us, and you can reap the rewards if it goes your way.
You may not know which horse will win but maybe you’re certain that horse who hasn’t run for 150 days won’t win. This is as good a time as any to place a lay bet. Like anything too good to be true, there is a catch. Should that horse win, you’ll pay the backer his winnings, which could be a lot more than the stake. Just be careful what you decide to lay! |
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You lay a horse for £10 at odds of 8. Your liability of £70 is taken out of your account. If the horse loses, you win the backer’s £10 stake and your £70 liability is returned to you. But, and it’s a big ’but’, if that horse goes on to win the race, you lose your £70. The guy on the other side will get £80 back – your £70 plus his original £10 stake.
Another handy example:
You lay Newcastle at 3.5 for £10. You lose £25 if Newcastle win, and win £10 if they lose or draw.
You don’t have to lay only outsiders though – if you lay a selection at ’odds-on’ (less than 2.0), it means you are risking less than your potential reward. E.g. lay ’Under 2.5 goals’ at 1.65 for £10. You lose £6.50 if the match is low-scoring, or win £10 if three goals or more go into the net. |
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Back betting is exciting and lay betting is too. But it’s always a very, very good idea to check what you could be liable for paying out should the no-hoper you have chosen to lay (perish the thought) win.
Also, be very watchful of where you put the decimal point. If you want to lay a bet at 4.2 make sure it is just that, and not 42… otherwise it will be an expensive mistake should your selection win. One thing’s certain though, Betfair will only let you risk as much as is in your account.
Another advantage of laying with Betfair is that if you lay two selections on a single winner market, such as two horses in a race, or two golfers in a tournament, your liabilities don’t add up, your bets offset each other because there is only one winner. |
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