Help on Lay Betting on Betfair

[BertCity]

Ive just got a account on betfair and was looking at the odds of group winners for the world cup, so they gave me these market odds;

Argentina group b winner lay @ 8/15
Greece " " @ 9/1
Nigeria @ 5/1
South Korea @ 14/1

I understand it that lay betting means you bet against the outcome happening, but it must not be right that greece are 9/1 not to win the group? i think ive misunderstood!

heres the link

Betfair.com: online spel, spela på sport, hästkapplöpning, fotboll | spela på Poker, Casino & Games

[yorkieacer]

Betfair.com: online spel, spela på sport, hästkapplöpning, fotboll | spela på Poker, Casino & Games

Thats the right link, yeah that looks about right, i can see them finishing bottom of the table actually, Argentina and Nigeria are much better teams than Greece

[BertCity]

Is it just to finish bottom then, because it says argentina are layed at 8/15 .Why are the odds so good on greece finishing bottom if its likely to happen?

[rcgills]

If you're laying a bet, Bert, you're not betting on something happening, you're offering someone else a bet on that thing happening.

If Greece are 9/1 to lay in this case, that means that if you were to lay them, you'd be offering whoever matches your bet 9/1 that they win the group. So if they staked a tenner, if Greece win the group, the bet would be a winner and they'd get 90 back (plus the tenner stake), and it would be you that would have to pay that 90. If Greece don't win the group, they lose their tenner, which goes to you. Basically you're playing the role of the bookie.

You'd be risking 90 to possibly win 10 (minus commission), so the odds you're getting on Greece not to win the group are actually 1.11111.

Hope I've explained that reasonably clearly

[BertCity]

right ok i understand now, cheers rc. so if is the £ below the odds the amount that people have backed/layed against it. So if i wanted to back Greece to win it then id have to bet against the £8 people have layed against it?

Do you get email comfirmation is someone has taken you bet aswell?

[rcgills]

The £ below is the amount available to back or to lay at that price. You don't have to take the whole of that amount, you can take whatever you want, as long as it meets the minimum bet, not sure what that is in pounds, in euros it's 2 euros.

And no, you don't get any kind of email confirmation of anything on Betfair. Once you've placed the bet, check the "My bets" tab on the right-hand part of the screen. If your bet has been matched, you'll see it in there with the time/date it was matched and a reference number. If it hasn't been matched, it'll still be open, with the option for you to change the odds and the stake, or cancel the bet, if you want to.

Word of advice, as you're new to Betfair - above the bit where the odds are, is a line saying "More options" - in there, make sure all the boxes under "Show Profit and Loss" are checked, especially "Display "what if" figure". That will then mean that when you're placing a bet, when you type in the stake, before you've even submitted the bet, under the name of each team/option in the betting market, you'll see what would happen to you in the event the bet is matched. In a match, for example, if you're backing team 1, then under team 1's name you'll see in green the amount you could win if they win. Under the draw and team 2's name, you'll see in red how much you would lose.

Don't want to sound patronising, but you'd be well advised to be very careful before getting started laying on Betfair. If you don't know exactly what you're doing, mistakes can prove very costly.

[BertCity]

Yeah i might just stick to backing at this momment in time. Its good that they do it live in play as well, get better market odds in game betting against some person than the bookie at bet365.cheers

[7HEGR1MR3AP3R]

Originally Posted by yorkieacer

Betfair.com: online spel, spela på sport, hästkapplöpning, fotboll | spela på Poker, Casino & Games

Thats the right link, yeah that looks about right, i can see them finishing bottom of the table actually, Argentina and Nigeria are much better teams than Greece

You are a fool Yorkie

[7HEGR1MR3AP3R]

For what its worth and this may sound daft but that group is wide open. Ive seen Argentina numerous times and theyre very average - Messi doesnt perform as they play him out of position, and theyre tactically very naive - awful at the back, and very bad temprement - numerous sendings off in qualifying ,highly strung,and not to be touched with a bargepole - they will NOT win the WC -id be amazed if they got to the semi`s in all honesty. And theyre 7/1

Greece are simply awful, very defensive and struggle to score ! Will be organised and very hard to break down and they`ll rely on nicking 1-0s here and there. Another team who cant adapt when they go behind. Could get through a bad group by theyre defensive solidity

Nigeria are another shocking team if the ACN was anything to go by - I backed them for that and thyre simply appalling, very laid back and cant get out of first gear, even when theyre behind.

South Korea will have a go , havent seen much of them but they wouldnt have to be very good to pull off a shock or two in this shockingly bad group - didnt they get to the semis a few WCs back ?? That 16 to win the group wouldnt be such a shock to me

[slick]

I'm in a world cup prediction comp at work and have Argentina and S Korea to go through from that group, In every world cup S Korea have been in they have impressed me with a workrate of second to none, if they were a few inches taller they'd be a force to be reckoned with.
I can't see Greece doing anything but we said that in the Euro's in Portugal and look what happened, can't see lightning striking twice though.

Don't know much about Nigeria to cast an honest opinion but I should imagine all African teams will be giving it 110% to make an impression, all though saying that Nigerians do have an air of arrogance about them which could see them come unstuck if their not prepared to knuckle down.

Tough call though to see who's going to qualify after Argentina who should sail through.