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Bet Fair Query

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  • 20-12-2010 12:24am
    #1
    shineon23
    Registered Users Posts: 2,829 ✭✭✭


    I've been toying with starting to lay a number of bets and to try build up a bank.

    this is what i was planning on doing, just wondering is it possible.

    take for example a horse race market where there can be only one winner.

    say i have 100 in my account

    i want to lay 3 horses all at 3/1
    horse a
    horse b
    horse c

    can i lay 100 on each horse, as worst case scenario i'd only have to pay out on one selection

    or would i only be able to lay 33.33 on each horse in accordance with the actual amount of real money in my account?

    hope this question makes sense?


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    #2
    okidoki987
    Registered Users Posts: 10,618 ✭✭✭✭okidoki987


    First bet would be a lay of 100, therefore there's nothing left in the bank after the bet has been laid so you would be unable to lay anymore.


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    #3
    Verance
    Registered Users Posts: 951 ✭✭✭Verance


    You can lay 100 on each, they calculate the liability on only one horse being able to win!

    Go experiment!


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    #4
    shineon23
    Registered Users Posts: 2,829 ✭✭✭shineon23


    Verance wrote: »
    You can lay 100 on each, they calculate the liability on only one horse being able to win!

    Go experiment!

    so it can be done as bookmakers do, by offsetting the risk of one bet by laying others in the field, thanks verance


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    #5
    okidoki987
    Registered Users Posts: 10,618 ✭✭✭✭okidoki987


    When I've tried to do it, it would only allow me to use the stake once?:confused:


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    #6
    Seanohea
    Registered Users Posts: 478 ✭✭Seanohea


    You would need to have enough money in your account to cover any losses associated with your lay, if you wish to lay the three horses for €100 at 3/1 you would need to have €900 in your account, each lay will have to have it's own liabilitys to back it up, even with 3 horses in the same race.
    With having €100 in your account it would be only possible to lay each horse for €11 if there odds are 3/1.


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    #7
    L'prof
    Registered Users Posts: 12,005 ✭✭✭✭L'prof


    Seanohea wrote: »
    You would need to have enough money in your account to cover any losses associated with your lay, if you wish to lay the three horses for €100 at 3/1 you would need to have €900 in your account, each lay will have to have it's own liabilitys to back it up, even with 3 horses in the same race.
    With having €100 in your account it would be only possible to lay each horse for €11 if there odds are 3/1.

    While what you're saying is probably correct, if there's only one winner in a race and he's laying 3 horses, surely he should only need enough to cover the biggest odds horse? I'm not saying that I think it actually works like this btw!

    Edit: Verance says above that it does indeed work like this. Must check it out so!


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    #8
    shineon23
    Registered Users Posts: 2,829 ✭✭✭shineon23


    L'prof wrote: »
    While what you're saying is probably correct, if there's only one winner in a race and he's laying 3 horses, surely he should only need enough to cover the biggest odds horse? I'm not saying that I think it actually works like this btw!

    Edit: Verance says above that it does indeed work like this. Must check it out so!
    '
    yeah that's what I was trying to ask, thanks l'prof i must try in the comings weeks when theres more bets available


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    #9
    L'prof
    Registered Users Posts: 12,005 ✭✭✭✭L'prof


    shineon23 wrote: »
    '
    yeah that's what I was trying to ask, thanks l'prof i must try it stephens day when there's a variety of games on.

    You can mess around with it without actually having money in your account.


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    #10
    shineon23
    Registered Users Posts: 2,829 ✭✭✭shineon23


    L'prof wrote: »
    You can mess around with it without actually having money in your account.

    tried there now without signing in, yes it does say that your total liability is only for the longest odds selection.


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    #11
    Oh_Noes
    Closed Accounts Posts: 2,512 ✭✭✭Oh_Noes


    There used to be a site called "play betfair" where you could make pretend bets etc without money just to get used to the system. I can't seem to find it now though. Maybe someone has a link.


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    #12
    Mellor
    Registered Users Posts: 39,043 ✭✭✭✭Mellor


    They closed it down


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    #13
    Paddy Irishman
    Registered Users Posts: 116 ✭✭Paddy Irishman


    Don't forget about the handy "what if" and "liability/payout" tools. If you select the "what if" tool in the options menu you'll see your position on each selection should all your back and lays be matched. Another way would be when you lay one or more selections, click on liability in the "place bets menu". This will spread the backers stakes across all your lays to your own chosen liability i.e your risk will be divided evenly across all selections. I also agree that you only need enough in your account to cover your biggest liability.


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    #14
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    you would only need €100 to cover your potential losses, but you'd probably need up to €900 in your account because the bets arent guaranteed to be struck at the exact same time


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