Betfair Advice

[kompressaur]

Ive finally managed to fund a betfair account. Its taken me 5yrs but i got there. Right i'll have a million questions to ask but first im away for a rummage

[kompressaur]

heh heh im over on Betfair forum posting with folks i know. Im gonna post up that story about me shitting the sofa. Nah i'll get my bets done first.

[kompressaur]

thats great having a betting exchange and a forum to go with it. do any batting exchanges want to 'adopt' TDP as their forum? you'll at least have a fan base

[kompressaur]

Does that mean i can only back Brechin at a poor 1.51 and only have £2 on it? Also does it mean that someone is wanting to back Stirling for a top 2 finish at 1.33 and he's offered up £35 of his money?

[ONEDUNME]

That's exactly what it means Komp.

By the way, the betfair forum is full of fuckin muppets. You've more chance of getting some sense out of a coma ward than talking to those cocks.

[kompressaur]

thaks ODM. I'll try to win them over with my charm. Nah i cant be arsed. I suppose im just there to spam TDP. I'll make no bones about this.

So also from looking at that picture someone wants to back Stranraer for a top 2 finish at 989/1 and is offering up £2 of his cash. would i need £1800 in my account to take that bet?

[ONEDUNME]

Yes. Although in reality, you would offer up a price a little better than the 1.33 on offer and hope that someone took it.

[kompressaur]

So your saying lay the £35 @ 1.33 ODM and then try to get folks to back it at 1.25?

I fancy Stirling to fall apart and Brechin to catch them

[ONEDUNME]

No I'm not saying that Komp. I'm saying if you fancy Brechin and not Stranraer then you have the options of either trying to lay Stranraer by offering a backer a bit better than the 1.33 on offer or you can put in a back of brechin at whatever price you thing might be taken and see if anyone wants to lay it.

[Beanie]

Yeah Komp - most important thing with Betfair is not to just take a price on an outcome you want to bet on just because its there - like the market above many markets will have low liquidity so you have to determine the price you want, click the blue box beside the team you want to back, and type in the odds you want and the stake you want to back it at. Then other punters will be able to see that request and can decide whether or not to meet that request.

[kompressaur]

Cheers chaps i still don't understand due to my limited intellect. Anyhow out of interest and don't laugh at the stakes etc as it was all that was available to me.





so at the moment ive laid out £4 to win £3.31? firstly has that £4 came off my account and secondly can i lay it off in any way to sho guaranteed profit? also whats that 260/1 thing in laying the under 2.5?

yours confussingly

komp

[ONEDUNME]

Firstly, yes it has come off your account. You should see a box at the top of the screen that says "total available". If you check the box it will tell you how much you have left to bet with. If you place a bet and then click the "refresh" icon it will update the amount.


Also if you click on My Account at the top left side it will give you a list of options. Click on "Summary" to see the total amount you have and how much of that has already been placed and click on "Statement" to see how your recent bets have done (and also deposits and/or withdrawals.

Back shortly,

[ONEDUNME]

Secondly, as Beanie says, you probably shouldn't have just taken the 1.8 and 1.84 available (unless you've checked other bookies and it seems a fair price). What you should have done was to put the stake you wanted and hope it got match. For example, if you'd put a price of 2 in then the 2 would appear on the right hand side in pink, waiting for someone to lay it.

That's what's happened with the 260 figure but before you laugh and say that nobody is going to lay for 259/1, it's there to con people who don't know what they're doing yet. That means people like you.

Be warned.

[Bigkegman]

That's why I haven't got a BetFair account Komp.

I find it soooooo strange...............

[ONEDUNME]

Thirdly, regarding the laying off, if you had put your own price up (for example, a price of 2), then "locking in" a profit is done by laying the same bet at a lower price. For example, you could back at 2 and put up a lay price of 1.8 to guarantee you a profit.

At these stakes that's not going to get you rich but if you were talking a grand a time then you can see how you could make (or lose) some real money.

This usually happens on markets that fluctuate though. For example, live football games when a team goes a goal up, obviously the prices change instantly and if that's in your favour you can lay your bet off.

The problem with your example is that it's not a live game so betting will be suspended at kick off and your bet will stand at whatever it is untill it's settled after 90 minutes.