Smarkets question

Lizziew24

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So I placed a back bet with betfair Sportsbook so lay it off with smarkets. I deposited £100 into smarkets as it was empty. My liability was £88. My bet lost (wasn't a free bet, was one of the betfair £20 free if your horse wins in certain races) but now there's £116 in the exchange. How can this be??
 

Wibble

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If the bet lost at Smarkets your winnings there will be the lay stake / 1.02 in commission.

So I guess you lost £20 at Betfair, and 'won' £16 at Smarkets for a £4 qualifying loss on the horse.

Seems very high, what odds did you back and lay at?
 

Lizziew24

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If the bet lost at Smarkets your winnings there will be the lay stake / 1.02 in commission.

So I guess you lost £20 at Betfair, and 'won' £16 at Smarkets for a £4 qualifying loss on the horse.

Seems very high, what odds did you back and lay at?
my figures were slightly wrong. I bet £20 on a horse at odds of 5. Lay it at 5.1 for ql of 71pence. Liability £80.71. Bet lost and now have £116 in smarkets. I've clearly cocked something up..??!
 

Wibble

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6.1 lay gives £16.12 profit @ 2%

check smarket / account it tells you what stake you layed and what odds.

We've all cocked up but we're still going :)
 

Lizziew24

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6.1 lay gives £16.12 profit @ 2%

check smarket / account it tells you what stake you layed and what odds.

We've all cocked up but we're still going :)
Mmmm god knows what I've bloody done this time!! Thanks for reply though. I'll keep going and I'll get it right one day!!
 

Wibble

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worst i've done is back the full time score and layed the half time score.
that took ages to work out i can tell you!!
 

Jon

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worst i've done is back the full time score and layed the half time score.
that took ages to work out i can tell you!!
Worst I've done is back one game and lay another!!!
 

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