Reply to: Allez France

[keninparis]

Got you now, cheers, seems simple when it's explained, always easy to find someone to take your bet then on BF?

The market changes every second. My mate described it as the crack cocaine of gambling so best avoided really, I do it now and again when my mate gives me a tip.

However, have a look at betfair.com and you'll see what I mean

[Incognito]

I accepted at bet (layed) at 1/8 therefore the other punter put on 8K to win 1K. If it loses (Man C don't win) I get 8K, if they win I lose 1K but already had 1K on City at 5/2 hence a 1.5K profit.

Got you now, cheers, seems simple when it's explained, always easy to find someone to take your bet then on BF?

[keninparis]

What do you mean you've layed City for 8k? Sorry, I'm really confused (about the Betfair bit) do you lose your money if City win? How much did you put down, 8k?

I accepted at bet (layed) at 1/8 therefore the other punter put on 8K to win 1K. If it loses (Man C don't win) I get 8K, if they win I lose 1K but already had 1K on City at 5/2 hence a 1.5K profit.

[Bunk]

Does he not receive any money from Betfair for laying the bet? I'm assuming he's hedging it somehow, so what's the point if he's only getting a return of his stake?

No, when you lay the bet you're acting as the bookie so you keep the other people's stake if they lose. So in the 7/1 example above, he takes £2000 of bets, if they win he pays out £14000 and returns the stake, if they lose he keeps the £2000.

[Incognito]

Here's a good example had 1K on City at 5/2 that will yield 2.5K, on Befair now City are 1/8, therefore I've layed City for 8K at 1/8. If City win still win 1.5, else 8K. Just buying and selling.

What do you mean you've layed City for 8k? Sorry, I'm really confused (about the Betfair bit) do you lose your money if City win? How much did you put down, 8k?

[keninparis]

From what I can tell he bet £1,000 on France @ 20/1 a couple of weeks ago when the odds were good. Once they were in the final the odds dropped to 7/1 so he laid £2,000. So if France won he gets £20,000 from his first bet and pays out £14,000 for the second, hence £6,000 profit. However, as France lost, he would have lost the £1,000 from the first bet, and kept the £2,000 from the second so a £1,000 profit. Hope he hasn't blown the £6k already without checking his account

Correct - just checking. Glad someone's on the ball.

[Incognito]

From what I can tell he bet £1,000 on France @ 20/1 a couple of weeks ago when the odds were good. Once they were in the final the odds dropped to 7/1 so he laid £2,000. So if France won he gets £20,000 from his first bet and pays out £14,000 for the second, hence £6,000 profit. However, as France lost, he would have lost the £1,000 from the first bet, and kept the £2,000 from the second so a £1,000 profit. Hope he hasn't blown the £6k already without checking his account

Does he not receive any money from Betfair for laying the bet? I'm assuming he's hedging it somehow, so what's the point if he's only getting a return of his stake?

[keninparis]

Man U 0 - Man C 2

I'm not a big gambler but have a mate who makes a living from it so get some tips.

With out going into detail a few weeks ago France were 20/1 and my mate reckoned France would beat England. Therefore I had 1K on France at 20/1 (I don't ask how much my mate had on - he's got the tax man on his back), giving a potential return of 20K. The difference with betfair is you can also lay bets (accept bets from other punters at the going rate) and they were 7/1 yesterday, hence accepting a bet of 2K at 7/1 gives a lieabilty of 14K but still a 6K profit.

Check out betfair if your interested - they will explain it better. If England had beaten France would have been 1K down the drain but we thought England were very poor against the scots and thought France would bounce back.

Here's a good example had 1K on City at 5/2 that will yield 2.5K, on Befair now City are 1/8, therefore I've layed City for 8K at 1/8. If City win still win 1.5, else 8K. Just buying and selling.

[Bunk]

I'm not a big gambler, but does this mean you found odds for France at 20/1 and NZ at 7/1?

At the same day and same time??

What do you mean by you can lay off stake money?

From what I can tell he bet £1,000 on France @ 20/1 a couple of weeks ago when the odds were good. Once they were in the final the odds dropped to 7/1 so he laid £2,000. So if France won he gets £20,000 from his first bet and pays out £14,000 for the second, hence £6,000 profit. However, as France lost, he would have lost the £1,000 from the first bet, and kept the £2,000 from the second so a £1,000 profit. Hope he hasn't blown the £6k already without checking his account

[keninparis]

I'm not a big gambler, but does this mean you found odds for France at 20/1 and NZ at 7/1?

At the same day and same time??

What do you mean by you can lay off stake money?

I'm not a big gambler but have a mate who makes a living from it so get some tips.

With out going into detail a few weeks ago France were 20/1 and my mate reckoned France would beat England. Therefore I had 1K on France at 20/1 (I don't ask how much my mate had on - he's got the tax man on his back), giving a potential return of 20K. The difference with betfair is you can also lay bets (accept bets from other punters at the going rate) and they were 7/1 yesterday, hence accepting a bet of 2K at 7/1 gives a lieabilty of 14K but still a 6K profit.

Check out betfair if your interested - they will explain it better. If England had beaten France would have been 1K down the drain but we thought England were very poor against the scots and thought France would bounce back.

[Incognito]

Dodgy ref, otherwise you could be collecting.

Had £1000 @ 20/1 and laid off £2000 @ 7/1 so still a £6000 profit on betfair (just like the stock market). Will find a bar to watch the manc derby...

I'm not a big gambler, but does this mean you found odds for France at 20/1 and NZ at 7/1?

At the same day and same time??

What do you mean by you can lay off stake money?

[keninparis]

Well done.

I knew sneaky froggy was just doing enough to get through each time.

True the ref was one-eyed which was frustrating, the better team lost on the day, but all-in-all a good, hard game that was always close on the scoreboard and you can't ask for much more.

Yep the ref was a bit of knob but that's life and I really enjoyed the game - check out betfair for the best odds in the village plus you can lay off stake money.

[Doggy Styles]

Dodgy ref, otherwise you could be collecting.

Had £1000 @ 20/1 and laid off £2000 @ 7/1 so still a £6000 profit on betfair (just like the stock market). Will find a bar to watch the manc derby...

Well done.

I knew sneaky froggy was just doing enough to get through each time.

True the ref was one-eyed which was frustrating, the better team lost on the day, but all-in-all a good, hard game that was always close on the scoreboard and you can't ask for much more.

[keninparis]

I got 6/1 for the final. Good odds in a two-horse race and they're giving me a bit of a run for my money.

Dodgy ref, otherwise you could be collecting.

Had £1000 @ 20/1 and laid off £2000 @ 7/1 so still a £6000 profit on betfair (just like the stock market). Will find a bar to watch the manc derby...

[Doggy Styles]

I got 6/1 for the final. Good odds in a two-horse race and they're giving me a bit of a run for my money.