Trying to get to grips with lay betting
Can anyone enlighten me please.
Say a 10 runner race and I lay the fav at 7/4 for £10.00 what is my liability
it the horse wins and what is my return if looses.
GL
Your liability will be £17.50 in this case. If it loses then you get £10 minus the commission which is around 5%. Think of it like you are the bookie and other people are betting with you.
Best thing to do is go on betfair pick a race , click lay and put some figures in
click lay in pink then play around with stakes without any cash in your account
so you cant make a mistake
it will say backers odds backers stakes and then your liability
have a play around till you know what you are doing
dont play with money in your account tho as its easy to hit wrong thing