Australian Betting Exchange
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YOUR BETFAIR PUNTERS' GUIDE
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4. LAYING A SELECTION
When laying a bet you are staking money that
an outcome will not happen i.e. Collingwood
will not beat Geelong. You are simply taking the
other side of a back bet. The amount of money
you enter is the backer's stake you are prepared
to accept at those odds, not the amount of
money you're prepared to risk.
BETTING EXAMPLE
In the betting example below, a punter(s) wants
to back The Draw for the win at odds of $3.65
for $4380. You think the odds on The Draw are
too short so you decide to lay the The Draw for
$100 at odds of $3.65. You have sufficient funds
in your account ($265) to lay this bet. If you're
right, and the match don't end in a draw (e.g.
Australia wins), you collect the $100 stake from
the punter who placed a bet at the odds you
offered. If the match is a draw, then you must
pay out $265.
Find your market
All betting markets are listed in the
menu on the left-hand side of the
Betfair homepage. Simply click on
the market you want to bet on, then
follow the links to the relevant event.
Find your selection
Once you have found your market, all the selections are listed on the
page, with the option to back or lay a bet.
To lay a bet, look at the pink box to the right of the selection that you
think won't win. There are two numbers ­ the top number in bold (eg.
$1.45) represents the best odds available to lay the selection at; the
bottom number (eg. $4038) is the maximum amount of money
you can lay at those odds.
STEP-BY-STEP GUIDE
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BETTING
AS IT SHOULD BE.
P8
Pick your selection
If you want to lay a selection, click the pink box. Your bet ­ the
selection you are betting against ­ appears on the right-hand side of
the page in the Place Bets section, alongside the backer's odds.
Choose the backer's stake
Now it's time to decide the stake you will accept on your selection
from another punter. Click the Backer's Stake box in the Place Bets
section. Enter the stake you want to accept in this box. The liability
on this bet ­ the amount of money you will have to pay out if the
selection wins ­ appears on the far right-hand side of the screen.
Submit your bet
Once you are happy with your selection, click Submit
at the bottom of the right-hand side of the page.
Confirm your bet
A confirmation screen will appear on the right-hand side of the page,
detailing your bet, and explaining how much you will win or lose.
To verify your bet, click Yes at the bottom of the page. Check the
confirmation to make sure your bet has been placed.
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MAXIMUM LOSS
You will never be able to lose more money than you have in your account, but be aware the amount you lay isn't the maximum
amount you can lose. In reality, it's much more. To take precautions against this, it is possible to set a maximum amount of money to risk in a
designated time period.