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HarderFaster Forums >> General Mayhem >> Who can explain Betfair Author Pages (5):  [1]  2  3  4  5      Mat Lock www.mat-lock.net Registered: Mar 2004 Posts: 37655 - Threads: 1409 Location: Shitty UK I am lost. What is Back and Lay ? How do I place a simple £10 bet on a horse in the National for Saturday via Betfair. Zoology 2nd May 2008 Frantic vs Twist 5th May 2008 (special 30th Birthday dj set) All my mixes are here Report this post to a moderator | IP: Logged 04-04-2008 16:07 PM gravitational pull Registered: Apr 2003 Posts: 34064 - Threads: 839 Location: le chatelier's principle I worked there for 3 years and designed their current interface and half of their applications. But I'm probably the worst person you could ask. ------------------------------------------------------------------ I get on the train and I just stand about now that I don't think of you... Report this post to a moderator | IP: Logged 04-04-2008 16:08 PM gravitational pull Registered: Apr 2003 Posts: 34064 - Threads: 839 Location: le chatelier's principle Ok to answer your question: Backing is saying something will win. Laying is saying something will not happen. To match a bet someone has to back and another person has to lay. ------------------------------------------------------------------ I get on the train and I just stand about now that I don't think of you... Report this post to a moderator | IP: Logged 04-04-2008 16:09 PM gravitational pull Registered: Apr 2003 Posts: 34064 - Threads: 839 Location: le chatelier's principle So choose your race and then if you want to make a traditional bet then click on Back to select it. Put how much you want to bet on it and then see if your bet gets matched. Only when bets are matched will the bet be valid. You can leave odds up there and see if someone will match them.. ------------------------------------------------------------------ I get on the train and I just stand about now that I don't think of you... Report this post to a moderator | IP: Logged 04-04-2008 16:12 PM PonyBoy. You can touch me if you like. Registered: Mar 2006 Posts: 34240 - Threads: 1405 Location: Back is a normal bet, lay is to bet against the outcome, in effect making the odds and people betting against you, backing the event. There's a tutorial, you know. Loss on backing a bet is limited to your stake, loss on laying a bet is limited to how many people back it, I think, so quite large. Bets in Betfair are 'matched' so backing an outcome with £10, there has to be people laying the bet to the cash equiv. of your winnings, otherwise you only match part of the bet. ie, I bet Pompey to beat Man Ure 0-1 at 15/1, initially only £22 of that was matched, rather than the £150 I stood to win, then all my stake was matched and I stood to win the full £150, which I did. Something like that anyways....... Download my latest mix, as featured on Adam White's "Euphoria" radio show on Ministry of Sound Radio HERE. Tracklisting available in my profile. Report this post to a moderator | IP: Logged 04-04-2008 16:12 PM gravitational pull Registered: Apr 2003 Posts: 34064 - Threads: 839 Location: le chatelier's principle Quote: PonyBoy. wrote on 04-04-2008 04:12 PM There's a tutorial, you know. [industry pride] I made it. [/industry pride] ------------------------------------------------------------------ I get on the train and I just stand about now that I don't think of you... Report this post to a moderator | IP: Logged 04-04-2008 16:13 PM Stakker Nunk Development is my bidness. Registered: Sep 2002 Posts: 52963 - Threads: 2190 Location: A North Sea Oil Rig Eating Chicken. 2016 Joint Winner Intellectual Quote: gravitational pull wrote on 04-04-2008 04:09 PM Ok to answer your question: Backing is saying something will win. Laying is saying something will not happen. To match a bet someone has to back and another person has to lay. Laying is something that will not happen? That's bound to put a dampener on anyone's weekend. System ~ MySpace/Facebook Report this post to a moderator | IP: Logged 04-04-2008 16:14 PM gravitational pull Registered: Apr 2003 Posts: 34064 - Threads: 839 Location: le chatelier's principle [Edited by gravitational pull on 04-04-2008 16:17 PM] Quote: Stakker wrote on 04-04-2008 04:14 PM Laying is something that will not happen? That's bound to put a dampener on anyone's weekend. Ja.. but if it does not happen then you win! If you are clever you can back and lay a number of bets and thus lock, reducing your exposure and locking in profit! ------------------------------------------------------------------ I get on the train and I just stand about now that I don't think of you... Report this post to a moderator | IP: Logged 04-04-2008 16:17 PM All times are GMT. 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