AAAARGH! Betfair newbie needs quick help

[happybhoy]

Can someone clear up some things for me regarding betfair. I think had a tip that Scolari will be next Newcastle manager and I want to lump £100 on it. I've opened up a betfair account and I'm a bit lost - I've covered about £30 in bets ranging from 40 - 60. How do I go about sticking the over £60 on - I originally offered it at 60 but it just occurred to me that I have no idea how this works and I don't fancy paying out £3600 if someone takes it up (is this how it works?). Can anyone offer some quick tips?

Cheers

[tikay]

BE CAREFUL!

I have no view on the bet itself, I long since gave up betting. But you are operating in dangerous waters here - very dangerous - if you are not wholly au fait with how this works. Please be careful.

[happybhoy]

I think I might have fecked up here
 

I'm a total newbie at this - can I ask - if I take offered bets is it only the amount bet I lose if it all goes tits up


feck feck feck

[Tonji]

try the betfair forum. sorry i cant help further, but thats not any area i know about

[Tractor]

If your placing a bet then its only your stake money you can lose, if your laying a bet then obviously you have to have the money in your account to pay the bet out if you lose...But i would imagine you can only lay if you have funds inyour account to cover the total loss, my mate does this quite  abit but ive never done it.
Although im sure theres a few on here who can help you out.
Maybe try posting it in the betting forum?

[mjrevie]

tractor is right. you can only lose what you have in your account, so the most you can lose is £60.

[smithy69]

i spend about 10 hours a day on betfair. How can I help. If you want to back scolari - go to the BACK column for your pick. Then put in the odds you would like to have (or the take the odds that are already offered) - its upto you. You can only lose your stake money if you press back, but what ever you dont press lay for £100. That would cost ya

pm me if ya want some help. also go to options and tick the box that says''show possible outcomes'' - that then gives you a green figure (profit) and red figure (loss) these are max so should help.

[happybhoy]

Yeah that makes sense, thanks.
Thank god no-one picked up that £60 at 60.
Thinking about it is making me feel sick I'm away for a lie down

[happybhoy]

Phew all sorted ( cheers smithy69 ) what is it they say about fools and angels?

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