New to Laying (Betfair etc...)

[LLAAYYSS]

your liabiltiy is 60p your potential profit is £5

[princecap]

That is slightly wrong I am afraid dober.

If you Lay for £5 @ 1.12, and the horse wins, you lose:

£5 * (1.12-1) = 60p
*You are acting as a bookie here. Imagine me coming to you to place a bet for £5 @ 1.12. Now if this horse was to win, you will give me my stake back + 60p. But if the horse loses, you will bag the £5. Its just like this.*

If you Lay for £5 and the horse loses, you win £5.

Hope this makes sense!
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Numbers and me, Its a love-hate relationship. I love them, they hate me!

[dobermangolfer]

quite right princecap. The only time i ever Lay an event off is when ive taken an overinflated early price on BetDaq and it comes in to such an extent where i can greenline the event. And to be honest the set up on Betfair and BetDaq allow you to see what your liabilities/profit are before confirming anyway.
The moral of the story is dont listen to my poor explanation

[princecap]

Tbf dober, I also had the concept wrong, initially. But learnt the correct way from a few people here.
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Numbers and me, Its a love-hate relationship. I love them, they hate me!