Betfair chart / Betfair graph of the day

[PeterLe]

Well done Liam - Awesome!
(I lost on that race!)

Edit : Sorry Just re read your post, I though at first you were saying you had just won but just under £2K..whereas now, you hit it at the top and could have greened out if you had greened manually..
If you haven't - dont worry, its just a matter of time!

[steven1976]

Light the city, what a drift pre-race and won!

[Euler]

Bit mental

Secret Millionaire_3826852 - a.png

[Euler]

Probably the most appropriately named horse of the day - 'Layline' 15:40 - Lingfield

05-02-2014 - Layline_4159769 - Drifter.png

[PeterLe]

Not as aptly named as the last one - Devine (Rhapsody) 1000/1 In Play

[Iron]

Another 999/1 winner!

[mugsgame]

There was another in the same race matched at 1000 then traded at odds on

[hgodden]

Don't see them do this too often

[musojohn]

Basic question (to mugs, peterle etc) but what do you make when you get matched at massive prices. ?
In the above example 191 got matched at 1000 but if it went on to win you wouldn't make 191000.
Thanks
John

[LinusP]

£191 got matched which means if that was a single backer he would have 191/2 at 999-1 so £95.50. This means you would win £95,404.5 before commission and £90,634.28 after commission if paying 5%. This is ignoring the premium charge.

[musojohn]

Cheers linus. You lost me on the 191/2 bit. My GCSE c grade maths hampers me in this game sometimes
So a further question.
Where does that money come from?

If you got £10 matched at 400 but the person who laid at 400 managed to trade out by backing say at 100 then their loss is reduced so where would the £ for your profit/bet come from.

[woodhousejj]

HI...

191/2 is £191 matched which in BF terms means £95.5 (191/2)- there has to be a lay and back bet of £95.50 each. So when you see in a game £2million matched in the game - it means £1ml of back bets has been matched with £1ml of lay bets has been match. So you always divide the total matched by 2 to arrive at the actual amounts of back and lay bets made.
Regards
John

[musojohn]

Got you
Ta

[woodhousejj]

HI - second part...
"If you had £10 matched at 400 but the person who laid at 400 managed to trade out by backing say at 100 then their loss is reduced so where would the £ for your profit/bet come from" (You need to state the various stakes -so i have made some assumptions)

Your bet and profit (assume you win) 4000-10 = P £3990

Guy 1 laid @400 then backed @100 £10 stake)
(Liability lay -£3990 + Back Profit £990 )=L -£3000

This is the bit you are missing:
There must be a Guy 2 who Lays the back bet of Guy 1
(Liability Lay 100 @ £10 - £1000-£10) = L -£990

This is a simplified view - if Guy 1 wanted to reduce his loss to 0 - he would need to stake £40.30 at 100 and get that matched with a lay bet. This assumes that the horse won.

For every back bet to be matched there has to be an equal and opposite Lay bet (vice-versa).
Hedging the profit/loss across all occurrences is just an extension of the maths above - BA does this for you on the ladder.
Regards
John

[andyfuller]

From memory this changed when XM was introduced. It still is correct to divide the total matched on a market by 2 to get the true amount but the amounts matched on a selection shouldn't be divided by 2 as your back can be matched against a lay on another selection.

HTH.