This site is for adults 18+ due to gambling/betting content. If you have a problem with gambling issues, or need information, please visit:
Gambling Help Online Gamblers Anonymous Gambling Therapy Gamble Aware Jugadores Anonimos JugarBIEN BeGambleAware GamCare

Announcement

Collapse
No announcement yet.

Backing/Laying

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Backing/Laying

    Hello I have a question if anybody could help me out. Say a bookie is offering a free bet after an initial stake.

    Then I find a bet at 2.20 and see that I can qlso lay it at 2.20 at Betfair.

    How do I work out how much I should back/lay to ensure I dont lose or if I do lose make it very small? So I dont lose on the actual bet at all- and I will then be eligible for the free bet.

    Sorry if this is really simple- but I cant work this out at the moment!

    Thanks

    #2
    I'm not completely convinced if I understand you correctly. You have to take care of the way the exchange bookie charges costs. Betfair charges 5% over the net winnings, so it depends on where you win the bet. If you lose it at the other bookie, you'll win 95% of the stake at Betfair.

    Normally it is:<table border=1><tr><td colspan="2">Other (stake 10)</td><td colspan="2">Betfair (stake X)</td></tr><tr><td>win</td><td>+12</td><td>-1.2*X</td><td>loss</td></tr>
    <tr><td>loss</td><td>-10</td><td>+0.95*X</td><td>win</td></tr></table>
    You have a free bet:<table border=1><tr><td colspan="2">Other (stake 10)</td><td colspan="2">Betfair (stake X)</td></tr><tr><td>win</td><td>+12</td><td>-1.2*X</td><td>loss</td></tr>
    <tr><td>loss</td><td>0</td><td>+0.95*X</td><td>win</td></tr></table>

    So if you stake 12/(1.2+0.95) = 5.58 at Betfair too, you receive 5.30 profit no matter what happens.

    Is this correct?
    KOFFIEBOER, YOU ARE MONSTER

    Comment


      #3
      I believe it is- thanks a lot for that. I was just struggling to get my head around the numbers

      Comment

      Latest predictions

      Collapse

      Last posts

      Collapse

      Top Tipster Month

      Collapse

      Top Tipster Overall

      Collapse

      Favourite bookmakers

      Collapse

      BET365
      All-time favourite bookie of Bettingadvice.com due to their great betting offers in many sports, very good live betting and in-game cashouts, and general ease-of-use. Take me to Bet365!

      PINNACLE SPORTS
      Great bookie, offer superb odds (low margins), very high limits, does not slash winning customers. Probably the most reliable sportsbook on the net. Well known among sports punters for their ability and will to offer a fair product. Pinnacle will not hide. If you are good, you win. OK,  I'll give Pinnacle Sports a try!

      Working...
      X