NEW TO BETFAIR AND TRADING
hello i wonder if anyone can help me i layed the underdog in a football game earlier and when the favourite scored the odds on the underdog doubled so i backed it thus greening up i then tried to put the green up total on the winning team but when i did it said i had no money in my account or i had gone over my exposure limit am i doing something wrong here? i have gambled most of my life but am new to Betfair and trying to understand the trading principles any help would be much appreciated
Hi Andy,
Was the amount you were greening up over your exposure limit (I think by default it's £5000 but you will need to check yours).
Betfair have a very stupid system on it as say I had backed a horse for say £10 @ 1000 then I'm up almost £10000 on that horse, if I then try to lay off £6 of it at 1000 then even though I would still be almost £4000 up on the horse Betfair doesn't allow it as I'm trying to lay off almost £6000 (even though it's not really exposure so to speak as I'm still green by nearly £4000 on that horse), so I would have to lay it off by doing it say £3 @1000 and then £3 @ 1000 afterwards, then it goes through fine.
Was the amount you were greening up over your exposure limit (I think by default it's £5000 but you will need to check yours).
Betfair have a very stupid system on it as say I had backed a horse for say £10 @ 1000 then I'm up almost £10000 on that horse, if I then try to lay off £6 of it at 1000 then even though I would still be almost £4000 up on the horse Betfair doesn't allow it as I'm trying to lay off almost £6000 (even though it's not really exposure so to speak as I'm still green by nearly £4000 on that horse), so I would have to lay it off by doing it say £3 @1000 and then £3 @ 1000 afterwards, then it goes through fine.
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wrexham casual
- Posts: 100
- Joined: Mon Apr 05, 2010 8:28 pm
For argument's sake, let's just say the game you was trading on was Holland v Spain.
You layed Holland and then Spain scored and the price of Holland doubled and you greened up. Let's pretend you had layed Holland with a liability of £100 and when you greened up it gave you £20 on all three selections.
You would only be able to use that £20 to trade on Holland, you would not be able to trade it on Spain or the Draw. You would however be able to use your original £100 to trade on any other market you wanted to.