betfair (real question, not spam)

LegacyUser

i was about to post a few questions bout this site, but piggybacked on a spamish thread.

i'd appreciate some help here.

i started using it earlier, can someone explain why there's two different options for each race.

ie, 17.20 Hcap Hrd
and under it, 17.20 To Be Placed.

it's the same with the other races.

what's this all about?

also, it say's you can give yourself better odds, what's that all about, how can you just start giving yourself better odds.

LegacyUser

ok, this is my understanding of laying.

you bet on a horse to loose.

is this correct? and if so, can you not just pick some donkey to loose?

i'm a complete novice, go easy.

omahony99

stp wrote:

i was about to post a few questions bout this site, but piggybacked on a spamish thread.

i'd appreciate some help here.

i started using it earlier, can someone explain why there's two different options for each race.

ie, 17.20 Hcap Hrd
and under it, 17.20 To Be Placed.

it's the same with the other races.

what's this all about?

also, it say's you can give yourself better odds, what's that all about, how can you just start giving yourself better odds.

The first is the Win odds and the second is the place odds - there's no such thing as "Each Way" in Betfair.
That's why there can be a big difference in the win odds you get in Betfair and the bookies (well that and the bookies having higher profit margins).

Also you sometimes see a third option - "NTF" which is Name The Favourite.

finnpark

stp wrote:

ok, this is my understanding of laying.

you bet on a horse to loose.

is this correct? and if so, can you not just pick some donkey to loose?

i'm a complete novice, go easy.

Yes. But if a horse is 5/1 and you place a stake of £100 you will lose £500 if the horse wins. If the horse loses you only win £100.

eirebhoy

stp wrote:

ok, this is my understanding of laying.

you bet on a horse to loose.

is this correct? and if so, can you not just pick some donkey to loose?

i'm a complete novice, go easy.

You can pick a donkey but lets say he's 50/1. If you wanted to win €1 you'd have to risk paying out €50 if that donkey wins.

scargill

yes - you could pick some donkey to lose. For example Royal Hector in the next race. Currently trading at 90.0 on betfair. If you wanted to lay this to win a €10 you would have to risk €900 of your bank to do so. Every now and then one of these donkeys win ! So it could've taken you 90 such bets to build up your pot to €900 only to have it blown away in one swoop.

Essentially you are trying to back a 1/90 winner, which most would consider a certainty. But there are no certainties in racing!

okidoki987

Also what people shouldn't forget, if a horse is 2/1 in the bookies and you want to lay it on Betfair or Betdaq, then you wil be laying it at higher odds
at least 9/4!

scargill

stp wrote:

also, it say's you can give yourself better odds, what's that all about, how can you just start giving yourself better odds.

you can ask for whatever odds you like, but there is no guarantee someone will give you those odds.

fade2black

No idea why you felt the need to start two threads on this.

LegacyUser

fade2black wrote:

No idea why you felt the need to start two threads on this.

just thought it would be neater.

LegacyUser

omahony99 wrote:

The first is the Win odds and the second is the place odds - there's no such thing as "Each Way" in Betfair.
That's why there can be a big difference in the win odds you get in Betfair and the bookies (well that and the bookies having higher profit margins).

Also you sometimes see a third option - "NTF" which is Name The Favourite.

what does "the place odds" mean. does this mean if it comes in the top 3?

sorry, i realy have no idea.

the place odds seem to be alot lower.

Nalced_irl

stp wrote:

what does "the place odds" mean. does this mean if it comes in the top 3?

sorry, i realy have no idea.

the place odds seem to be alot lower.

Your betting on it to place, ie. top 3, top 4 depending on the race. If you click "My Bets" while looking at a Place market, it will tell you right under My Bets how many place in each race.

ziggy

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