So confused with betfair!!!

[imissworthing2]

Hello folks,

I opened up a betfair account today and am just having a play with it now. I have gone on the sevilla v tenerife game and if I bet £70 against tenerife winning i.e a win or draw for sevilla(who are at home) then it returns about 550quid. Am I reading this right as it seems a hell of a lot of a payout!!!

 

[The Ringleader Returns!]

Have you checked recent form etc?

 

[jordanseagull]

you are reading it very, very wrong.

Say you bet on a Sevilla win, you would return about £100. I'd say you're looking at about £90.

 

[jordanseagull]

Also, the game you are looking at is already in play.

 

[sam86]

I'm guessing you have done something wrong.

 

[imissworthing2]

I'm not sure I am mate, It clearly says I am backing against a tenerife win, 70quid returns 560 with a liability of 560( which I now assume means I have to have this much in my account to cover the bet)

 

[jordanseagull]

I'm not sure I am mate, It clearly says I am backing against a tenerife win, 70quid returns 560 with a liability of 560( which I now assume means I have to have this much in my account to cover the bet)

AGAINST a Tenerife win means either a draw or a Sevilla win. Your return will be about a £20 profit.

And the match is 20 minutes gone.

 

[Djmiles]

Your return and liability can't be the same.

So if you want to bet £70, with odds of 9 the liability will be £560. So in other words, if Tenerife win, you will owe Betfair £560. If they fail to win, you will win £70.

In short, the stake is what you WANT to win. The liability (which you have to pay for upfront), is the odds times your stake.

The payout is merely the liabilty plus the stake (The Liabilty can not be classed as profit as it was yours to start with)

 

[Djmiles]

So when you say you want to BET £70, you either have to decide if you that to be your maximum liability (If Tenerife win you lose that £70), or if you want to STAKE £70, in which case your liability is £70 x 9 minus the profit. So your liability in this case is £560, and your PROFIT will be £70 (Because this is the stake).

I think I got that right!

 

[imissworthing2]

Its got even more confusing, I basically said to hell with it and layed tenerife with and amount that I could cover ( so need a sevilla win or draw) and its now come up saying that the bet could not be fully matched!!!

 

[HAILSHAM SEAGULL]

How can you open an account with Betfair, and consider betting on a match when you havnt got a f***ing clue what you are doing and you dont understand their rules.

 

[jordanseagull]

Its got even more confusing, I basically said to hell with it and layed tenerife with and amount that I could cover ( so need a sevilla win or draw) and its now come up saying that the bet could not be fully matched!!!

Betting has been suspended, then.

With Sevilla at such low odds to start with, and them now being 1-0 up at home to a bottom side, you are almost guranteed to win.

 

[Djmiles]

Its got even more confusing, I basically said to hell with it and layed tenerife with and amount that I could cover ( so need a sevilla win or draw) and its now come up saying that the bet could not be fully matched!!!

It will do. Underneath each odds, there is a £ amount. There is only a certain amount of money you can stake.

So an example, if you want to lay £70 at 9.6, and there is only £56 available, it will say it can not be fully matched and will usually ask if you want to lay at different odds.

 

[imissworthing2]

How can you open an account with Betfair, and consider betting on a match when you havnt got a f***ing clue what you are doing and you dont understand their rules.

I know pal and agree completely, I only joined up to take advantage of the free 25quid bet and do a treble!!!