1st February 2005, 10:30 AM
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Member
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Join Date: Jan 1970
Posts: 578
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Quote:
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Originally Posted by Sportz
I'm sorry. I told you I didn't understand it. I'm only used to betting on horses to win, not lose.
What I'm trying to work out is this. Using the example Duritz made, if you bet $100 on the horse to win at $3.50, you get $350 if it wins. That's easy. But I still don't know how to work out the 'laying' part of it. How much money do you bet and wouldn't you have to pay $350 if the horse wins? That's what I meant by paying extra money.
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In the example, as a layer if the horse wins, the layer pays out the $350, on which the winning punter pays a commission to Betfair. However, if the horse loses, the layer wins $100 (the stake money) on which they pay Betfair a commission. In the case of a 5% commission rate (the maximum) then if the horse wins a commission of $12.50 (5% x $250) and if the horse loses a commission of $5 (5% x $100) to Betfair.
And if you're smart enough it is possible to pay both punter and layer on the same horse and profit if the horse loses or wins.
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