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  #41  
Old 22-04-2010, 10:36 AM
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Some bloke in a Sunday paper claimed he made millions on betfair just by laying on horses, he took bets on the favourite ( says they
don't come in as often as u think) and a 14 or 16 to 1shot in each race, could any of us make money in this way? Is it as easy as it sounds?
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  #42  
Old 22-04-2010, 10:38 AM
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No am sure it's not that easy, you can certainly do it but laying favourites blind is not a way to make money, am sure you would need to have more than that.

Bet it was in a tabloid, they have it in for Betfair
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  #43  
Old 22-04-2010, 10:48 AM
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Bet it was in a tabloid, they have it in for Betfair
Why?
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  #44  
Old 22-04-2010, 10:55 AM
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They are convinced the ability to bet against something happening has corrupted all sports
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  #45  
Old 22-04-2010, 10:56 AM
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It was notw yes
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  #46  
Old 22-04-2010, 04:06 PM
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Am I missing a trickhere, they always say it's only the bookie that makes money, well on betfair I guess I could be the bookie, what's to stop me laying a tenner on each horse in a race? Surely I couldn't loose and would make money? Please advise am I missing something obvious?
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  #47  
Old 22-04-2010, 06:04 PM
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sorry guys i must be thicker than i thought

i layed a favorite the bleeder came in 4-1 shot and lost 100
but i also layed a 16-1 shot that didnt come in, it said my payout would be 160 but i only won a tenner which is what i staked
ive obviously got this totally wrong, so the payout it shows is not what you win but what the punter betting against you wins? this sucks
whats the point risking 160 to win tenner??
especially risky when laying the favorite!

please explain, sorry........
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  #48  
Old 22-04-2010, 06:24 PM
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oh man.........

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  #49  
Old 22-04-2010, 06:33 PM
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So say I

Lay 100 on Athletico Madrid vs Liverpool Draw @ 3.45

If a goal is scored...

Back 94.52 on Athletico Madrid vs Liverpool Draw @ 3.65 (theoretical)

Im going to either make 0 or 5.47 (assuming a goal is scored)

Have I got the gist of that right?
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  #50  
Old 22-04-2010, 06:49 PM
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or just lay liverpool at 3.2-3.3 best bet of the night

ps mascherano looked like he tweaked a hamstring in the warm up
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  #51  
Old 22-04-2010, 07:41 PM
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LLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy dietLLCOOLSTEVE came here looking for the peace and quiet; the healthy air and the healthy diet
Quote:
Originally Posted by disco mixx kidd
sorry guys i must be thicker than i thought

i layed a favorite the bleeder came in 4-1 shot and lost 100
but i also layed a 16-1 shot that didnt come in, it said my payout would be 160 but i only won a tenner which is what i staked
ive obviously got this totally wrong, so the payout it shows is not what you win but what the punter betting against you wins? this sucks
whats the point risking 160 to win tenner??
especially risky when laying the favorite!

please explain, sorry........

You layed the horse to lose 160 quid, someone bet a tenner with you that it would win, it didnt so you get their tenner, if it had won you would have paid them 160 quid
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  #52  
Old 22-04-2010, 07:47 PM
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Old 22-04-2010, 07:48 PM
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thnx steve, yeah im understanding it abit more now

very risky betting AGAINST the favorite......... /eek
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  #54  
Old 22-04-2010, 07:52 PM
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to be honest you shouldnt really start playing until you understand it, its easy to quickly lose a lot of money....there are plenty of helpful videos and websites out there to teach you though
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Old 22-04-2010, 09:22 PM
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yeah i understand that now cheers
what would have happened if that 16-1 shot not won but got a place?
would i have still have got my tenner winnings or would i have lost 40 (assuming quarter odds pay out?)
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Old 22-04-2010, 09:45 PM
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nothing

there is a place market for those place bets
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Old 22-04-2010, 09:46 PM
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thnx fella
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Old 22-04-2010, 10:13 PM
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Quote:
Originally Posted by Cake and Eat It
So say I

Lay 100 on Athletico Madrid vs Liverpool Draw @ 3.45

If a goal is scored...

Back 94.52 on Athletico Madrid vs Liverpool Draw @ 3.65 (theoretical)

Im going to either make 0 or 5.47 (assuming a goal is scored)

Have I got the gist of that right?
If you could manage to back the same bet at higher odds than you laid it, you would make money on the difference (Although I think the odds on a draw would have lengthened a lot more after Atletico Madrid scored - to make money you would have to back the draw when the rest of the market though it was less likely than when you laid it). And remember Betfair take a cut between the back and lay price.
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Old 22-04-2010, 10:23 PM
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Originally Posted by disco mixx kidd
Am I missing a trickhere, they always say it's only the bookie that makes money, well on betfair I guess I could be the bookie, what's to stop me laying a tenner on each horse in a race? Surely I couldn't loose and would make money? Please advise am I missing something obvious?
I think it's all a case of weighing up the odds. If you rate a horse's chance of winning at 10/1, and people are prepared to bet at odds of 3/1, it would be worth 'laying' or taking this bet. To take a football example, if you believe Newcastle have a 1 in 30 (29/1) chance of winning the Premier League next season, you might want to lay bets of 10/1, but you'd be foolish to take bets of 100/1
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Old 23-04-2010, 08:31 AM
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Originally Posted by disco mixx kidd
i also layed a 16-1 shot that didnt come in, it said my payout would be 160 but i only won a tenner which is what i staked

whats the point risking 160 to win tenner??

please explain, sorry........
I suppose the only point laying a 16-1 bet would be if you thought it was LESS likely than 16-1.

Example:

Stoke City to win the Premier League in season 2010-2011: 16/1

That would be a stupid bet to take, but a good one to lay, because the real chance of Stoke City winning the Premier League is less than 16/1, more like 1000/1. So you could risk 160 on this bet safe in the knowledge that you would get your 10 for minimal risk.
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