Betfair query

fifth

I'm new to betfair and was looking at odds on the rugby for sunday. Not really bothered with the match betting but I was wondering what this means./

Ireland V Italy

LAY bet :

You are betting AGAINST Italy to win 8/1

If I put 100 on this, and Italy lose...then €800 payout?( 99% sure this is not the case, but wondering in case its some sort of error?)

OR

Am I betting against someone elses back on italy to lose?

Sorry if this seems like a stupid question, betfair looks really interesting and I just want to get my head around it..

Thanks
ff

stephenoleary

You are accepting a bet at 8/1.

Effectively, you are willing to accept a bet that Italy will win.

If they do, you win 8 times your stake.

If they lose or draw, you lose your stake.

Paddy Irishman

Lay Italy 8/1 for €100 means you are the bookie offering 8/1 against Italy winning. If Italy lose or draw you get €100 less Betfairs commission, if they win you lose €800. Check out the horse racing forum where there is an extensive sticky thread about the ins and outs of Betfair.

stephenoleary

Paddy's explanation is ten times better than mine....

Paddy Irishman

:cool:

kingshankly

when your putting on your bet it will give you your total liability before you confirm your bet

fifth

Ahh thanks - i couldn't figure it out for the life of me!