Tennis Trade outcome, not what I expected?

[kingzley15]

Hi,

Still figuring stuff out...traded a Tennis Match this morning..was the match between Waltert and Teichmann...

As far as I can tell I Lay Waltert at 1.21 for £3.00 as she won the first set, and Teichman was looking good in the 2nd and she did win the 2nd set. I thought to ride this trade out as felt Tichmann had the edge...and she did go onto win.

As the match went into into the 3rd, the odds were flying around, I decided to also lay Teichmann below 2.0 @1.46 for £3.00 (something Peter said in a video laying or backing both players either below or above 2.0 will win - as a safety net?

In the 3rd, it went to 5-6 and I thought to close the trades out as I thought Teichmen looked good and wanted to free bet on her and didnt want to the market to finish and be suspended? So I back Waltert at 5.40 and closed out that poistion from 1.21 what I thought would be a free bet - green showing £12.57 and then also backed my Lay 1.46 of Teichmann @ 1.22 for what I thought was a £0.72 pence loss.

But my account says otherwise...any clarity greatly appriected.

Best

Kingz (confused)

[Dallas]

According to your screen shots your loss was £0.72, shown in both Bet Angel and your your matched bets from Betfair

Are you saying Betfair actually deducted more than this from your account?

[kingzley15]

Hi Dallas, no that isnt what I'm saying...

I thought I made a profitable trade on one player and a small loss on the other...

Thought I was 12.57+ and 0.72-

I'm obviously getting confused about closing out trades for a P or L and/or letting them run...

I tried to detail what I did and what I expected, but I'm getting something mixed up..

Best

Kingz

[Dallas]

Hi Dallas, no that isnt what I'm saying...

I thought I made a profitable trade on one player and a small loss on the other...

Thought I was 12.57+ and 0.72-

I'm obviously getting confused about closing out trades for a P or L and/or letting them run...

I tried to detail what I did and what I expected, but I'm getting something mixed up..

Best

Kingz

You only win (or lose) the amount shown along side the player/selection that wins
Had the other player won you've of been paid £12.57

[kingzley15]

HI Dallas,

Thanks, so laying a player in Tennis is only good for trading in and out, not for holding to the end of match - unless you lay both under 2.0?

I thought a lay bet 'wins' when that player doesn't win, which was the case in this match?

Best

Kingz

[Euler]

HI Dallas,

Thanks, so laying a player in Tennis is only good for trading in and out, not for holding to the end of match - unless you lay both under 2.0?

I thought a lay bet 'wins' when that player doesn't win, which was the case in this match?

Best

Kingz

If you lay two below two you will profit whatever happens. But you layed and then backed, creating a profit (or loss) on that individual selection.

[kingzley15]

Thanks Peter.

I hear you, thought however I exited the position by placing a back bet for the same amount as the lay side, leaving '0' orders in the market? Isnt that closing a trade, putting the opposite of what has already been matched?

Best

Kingz

[weemac]

Why are you ignoring the prices you bet at? Do you think it's unimportant?

[Jim Royle]

Why are you ignoring the prices you bet at? Do you think it's unimportant?

I'm guessing by the question and replies the poster is pretty new to trading we have all been there and it takes a bit of understanding , the only way to learn is by asking questions which has been done , its a learning curve as you well know

[Simone]

Closing a lay trade isn’t just about leaving no unmatched orders—it’s about the difference between the prices you laid and backed at. When you lay someone at 1.46 for £3 your liability is £1.38 and you will win £3 if they lose. When you then back the same player for £3 at 1.22 you lock in whatever the price difference gives you. In this example if she ends up winning you win £0.66 on your back bet but still lose £1.38 on the lay, so your net result is a 72p loss; if she loses you win £3 on the lay and lose £3 on the back, so you break even.

The fact there are “0” unmatched orders just means there’s nothing waiting in the market – it doesn’t cancel the matched bets or guarantee a profit. To make a free bet you need to lay both players under 2.0 (or back then lay at higher odds) so the price move works in your favour. Otherwise you’re simply swapping one bet for another and the final outcome will depend on the odds you trade at.

When you trade, you need to open a trade, close it then hedge to guarantee a profit. Or if you only lay, you can lay both players below two. But you wouldn't put any back orders into the market.

[kingzley15]

Thanks all for explanations and patience, a few pennies have dropped...!

Best

Kingz