PonyBoy. You can touch me if you like.
Registered: Mar 2006 Posts: 34240 - Threads: 1405 Location:
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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.......
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