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Post by haj23scfc on Feb 9, 2004 23:25:27 GMT
Ok I am confused, maybe thick! Being trying to understand betfair for an hour now.... Is this right? for example you can lay latvia not winning euro 2004 at 330/1 but you would have to pay £330 out now but if someone took it and put £2 on latvia to win euro 2004 and latvia didnt win then you wud get their £2 back and your stake back??  Last night I took 80/1 that all 3 political parties would have the same leaders at the next election as they do now and put £2 on. does this mean some idiot has deposited £160 to betfair? |
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Post by domstoke on Feb 9, 2004 23:57:48 GMT
"for example you can lay latvia not winning euro 2004 at 330/1 but you would have to pay £330 out now but if someone took it and put £2 on latvia to win euro 2004 and latvia didnt win then you wud get their £2 back and your stake back??" Almost, you actually have to specify what odds you are offering AND how much you wish to accept as a stake. So, if you layed Latvia not to win at 330/1 and accepted a £2 bet from someone, if they did win you would be liable for £660, if they lost you would collect their stake (i.e. £2) and be liable for nothing. "Last night I took 80/1 that all 3 political parties would have the same leaders at the next election as they do now and put £2 on. does this mean some idiot has deposited £160 to betfair? " If you backed it at 80/1, and it was matched, yes. However, the odds on that at the moment are 2/1 ish so you must have slipped up somewhere. Sure you didn't bet on all three having different leaders? (Pricey, dont say a word!  ) |
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Post by Pricey on Feb 10, 2004 0:35:41 GMT
Boing.
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Post by romfordstokie on Feb 10, 2004 13:07:59 GMT
Have you trie dthe on line tutorial? Its very helpful. I would be wary of calling Betfair users idiots by the way, they are the most sophisticated punters in the market!!
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Post by haj23scfc on Feb 10, 2004 19:58:57 GMT
having just read the bet at the side "market opened on 1st october 2003" then yes i am an idiot cuz IDS was leader of the conservatives then! odds are 100/1 again now!
do you have to pay the £660 at the time of laying the bet?
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Post by romfordstokie on Feb 11, 2004 12:51:48 GMT
yes if lay a bet for 2 quid at 330/1 you will need to have £660 in your account which will be ring fenced until the bet is settled.
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Post by Widget123 on Feb 11, 2004 13:02:43 GMT
so basically dont use bet fair to bet on elvis showing up or something ;D
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