Laying: Please explain this to me...

[Phil]

Ok, just trying to get my head around placing lay bets and this didn't seem right to me.

Just watching Sunderland vs Tottenham and looking on the correct score bets...

There is a currently a Lay available for a final result of Sunderland 3-0 Tottenham... odds of 400.

If I lay this at £2, my liabilty is £798, Payout would be £800.

So if I put £2 on this and it's not 3-0, I get £800? Is that right? But if it did actualy happen I'd lose £798?

[Mar]

£800 is your liability (because you are offering odds of 400) - you would only win £2.


Another example would be say a team at 1.5, if you lay at 1.5 your liability is HALF of what you stand to win.
Another example.. if you lay at 1.2, your liability is a fifth of what you stand to win.

I perhaps haven't explained that too well, but in essence "laying" is the same as saying "for this not to happen" (e.g for sunderland not to win 3-0)

[MrMoves]

Ok, just trying to get my head around placing lay bets and this didn't seem right to me.

Just watching Sunderland vs Tottenham and looking on the correct score bets...

There is a currently a Lay available for a final result of Sunderland 3-0 Tottenham... odds of 400.

If I lay this at £2, my liabilty is £798, Payout would be £800.

So if I put £2 on this and it's not 3-0, I get £800? Is that right? But if it did actualy happen I'd lose £798?

By laying the 3-0 at 400, you are offering odds of 399/1 and you're saying you will only take £2 on that price.  So if the score was 3-0 you'd pay out £798.  Any other score and you win £2 (minus Betfair fees)

To win £800 (£798) you'd need to BACK the 3-0 with £2.

[Phil]

So when laying, you enter the amount of money you want to win, and choose what odds you'll offer to win it, basically?

[Mar]

Correct. Or you can take someones "back" odds. i.e the ones that are already on offer.