So if somebody wants to back The Meadows Race 6 #6, and they are looking for $3.50, and my BANK is $1000, do I then allow the Punter to have $30 on it, which will mean a potential loss of $75 to me?
Is that how it works?

And if the Price they wanted was actually $7, do I still allow them to have $30 on it, or do I try waiting to see if Punters will actually take a lower Price?

I've tried waiting a few times doing this, but ended up the Race was over and I never managed to get my lay bet matched.