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Very confused by Betfair

  • 30-03-2010 5:18pm
    #1
    joseywhales
    Registered Users, Registered Users 2 Posts: 4,133 ✭✭✭


    Never gambled in my life but I took a look at betfair there for a while.

    It's strikes me as very interesting that if you look at the premiership page there is the possibility of betting on whether there will be a new top 4 or not:

    New top four:

    Yes 1.34

    or

    No 3.75

    These two events couldn't be more mutually exclusive!!!!
    Has my brain fallen out of my head??? I'm thinking fundamentally I don't get whats going on here.

    Furthermore, they have odds for "laying off the bets" so I can buy a lay-off for YES at 1.36 for example, yet I could just buy a bet for NO at 3.75.

    Whats going on??????????

    Is this a joke? Are they taking the piss? What am I not getting?

    Can I not buy Yes and NO bets and make gauranteed profit?????


Comments

  • #2
    x PyRo
    Moderators Posts: 8,755 ✭✭✭x PyRo


    joseywhales wrote: »
    Is this a joke? Are they taking the piss?

    Yes, Betfair are real comedians, hilarious isn't it ?.


  • #3
    joseywhales
    Registered Users, Registered Users 2 Posts: 4,133 ✭✭✭joseywhales


    really though, whats happening, I don't get it like. Any ideas? Have you looked at this too?


  • #4
    IH77
    Closed Accounts Posts: 301 ✭✭IH77


    joseywhales wrote: »
    Never gambled in my life

    Suggest you dont start just yet!


  • #5
    IH77
    Closed Accounts Posts: 301 ✭✭IH77


    Give an example of the bets you would make to guarantee profit. I think you will answer your own question.


  • #6
    joseywhales
    Registered Users, Registered Users 2 Posts: 4,133 ✭✭✭joseywhales


    Wait this is just retarded, Forget about it


    I think it was the fact that the odds you could lay YES at were 1.36
    and the odds you could bet NO at were 3.75.

    Which is the same gamble no?


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  • #7
    joseywhales
    Registered Users, Registered Users 2 Posts: 4,133 ✭✭✭joseywhales


    Screenshot.png


    Screenshot-2.png


    So,

    13.60 - 7.35 = 5.85 : outcome : NO

    9.84 - 3.60 = 6.24 : outcome :YES

    Am I crazy?


  • #8
    Verance
    Registered Users, Registered Users 2 Posts: 951 ✭✭✭Verance


    So,

    13.60 - 7.35 = 5.85 : outcome : NO 10 - 7.35 = +2.65

    9.84 - 3.60 = 6.24 : outcome :YES 2.49 - 3.60 = -1.11


    You were including your stake.


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