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Another bet exchange question please

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    Another bet exchange question please

    I spoke with someone who told me laying a bet at a certain odd and then backing it at a higher odd means no risk and only profit, but now I can't figure out why it is that way, and I can't find this person.

    Forinstance Columbia, was at 2.04 yesterday, and 2.20 now.

    I lay Columbia at 2.04 for 50. Now I back Columbia at 2.20 for 50.

    If Columbia wins = I lose 102 and win 60 (win 110 but i staked 50, so the profit is 60) = 42 loss (and i'm not including commision)

    If Columbia doesn't win = I win 50 and lose 50 = no profit no loss.

    Is the guy who spoke to me correct, or not? Didn't seem logical...

    Thanks for any help....

    #2
    Case 1 if colombia win then you lose only 52 as you lay at 2.04 and you win 60 the profit is 10
    Case 2 if colombia lose you win 50 and you lose 50

    Comment


      #3
      OK wait...

      If I lay a bet at an odd of 2.0, for a stake of 50, and someone backs the bet, and wins. Do I then lose 50*2.0 = 100, but get my stake back (100-50 = 50 overall loss), or do I lose 100 on the bet (the stake does not return).

      Thanks for your help.

      Comment


        #4
        you lose only 50 because the backer puts 50 and gets 100 his profit and your loss is the same which is 50

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