4th July 2016, 06:26 PM
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Member
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Join Date: Sep 2011
Posts: 1,524
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Quote:
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Originally Posted by thorns
Okay, so I understand that if you were backing to liability it changes dramatically. In the above example, if you are just letting someone back each selection for 1 unit regardless of liability and exposure to bank, would the figures then be approx. correct?
My thinking was that they have backed 20 winners, which including there 1 unit stake has returned 85 units total to them, this would mean I have paid them 65 units of my own bank. Therefore I am down 65 units on paying out the liability to those bets, but then have taken there 1 unit on the other 80 bets, therefore 80 units up before commission.
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You can't lay the way you want to on betfair SP. You can only lay to a liability. That means if you want to make it $1 then for a $100 shot you are risking $99 and for a $500 you need to risk $499. The problem is the more money you put into SP the further the odds move out.
Anyway as per your example assuming you changed your stake and were miraculous in getting your $1 lay exact then you would have the following outcome:
You won on 80 of these. Your assuming 5% commission but it will probably be higher in some aus markets. I'll use 5% as that is what you used.
80*0.95 = $76 in
You paid out $85 for the winnings and got in $20 for those so your outlay was $65. 76 in minus 65 out and you get a profit of $11
Your only problem is going to be depending on the odds you are laying you are going to push out the SP odds slightly which will eat into at least half of that profit.
Generally laying is done by liability (minimum $30 at SP) which is very similar to backing for a fixed stake.
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