13th December 2012, 05:48 PM
|
|
Member
|
|
Join Date: Aug 2010
Posts: 1,031
|
|
Quote:
|
Originally Posted by evajb001
Speaking of laying, can I get some helping on something.
I've got a strategy i'm going to follow for a while with my ratings and using overlays and underlays for backing/laying.
I understand that the minimum laying on BF is $30 but is this for any priced horse or does it progressively increase the higher the odds of the horse your laying? Also can I lay on BF's website at SP and set a price limit of say $30?
I've got a bot I can use but it has been chewing through my bandwidth (which I can look into) but just wanted to get my head around what I can or cannot do simply using the BF website. I watched one of the tutorial video's last night which answered a few questions but not all. Any help would be appreciated.
My stats yesterday was an increase in bankroll of $13 with an average bet size of about $3 and only hitting 3 winners from 23 bets ($200 bankroll). I checked the stats on the lays i would've had and and there were no winners on roughly 12 lays for an increase of approx $25 if laying to $30 liability.
I'll post stats in another thread on an ongoing basis if people are interested but just wanna see what my options are for laying.
|
Hi evajb001. Although I back and lay for trading purposes I use different software than the betfair site so I will attempt to answer your queries.
The minimum bet amounts for laying are: $5 straight out or a minimum liability of $30 but that is on the SP facility on betfair I think.
The $5 straight out is as it says. You lay a horse priced at $100 and you'll owe $495 ($100 minus 1 x $5) should the horse win. A $50 shot will set you back $49 x 5 = $245, etc (the reverse of backing should your $5 back bet win thereby winning $245 on a $50 horse).
Laying to liability you will only have to pay out the minimum $30 (or whatever you set it at) no matter what price the horse is.
The other thing to keep in mind is that you will need to have enough money in your account to place the bet. On the above you will need $495 for example.
I hope that helps.
Your bot (and mine) can bet below the minimum odds if you like however betfair may (WILL) pull you up eventually. Something to be aware of.
__________________
Never give up on a dream just because of the time it will take to accomplish it. The time will pass anyway.”
― Earl Nightingale
|