Sorry for the dumb question - I feel like this should be a very simple concept but it's wrecking my head. Tried asking BF but the person I spoke to didn't know and I couldn't find what I'm after on the internet.
Basically in my betting history with betfair, I noticed that the PnL for losing lay SP bets is different to what it says the liability was on the bet
The info for the losing lay bet from my betfair statement:
Odds 6.96
Stake 1.67
Liability 9.95
Profit/Loss -10
£10 is what I set my liability to, and then obviously I get matched with £1.67 in back bets, which gives my liability of £9.95 - but why does my PnL still say £10? Where does the 5p go?
Either I'm being dense and missing something, or BF owes me a Malteser.
Question on the difference between Liability and PnL on a losing Betfair SP lay bet
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Betfair will take the whole liability of £10 as that's what you staked. The rounding comes in because the BSP may well have been 6.9649999 but they only show two decimals on the statement.
Even though that would give you a stake of 1.6764 Betfair would not round up the stake to £1.68 as they could end up losing a penny themselves had you won.
Even though that would give you a stake of 1.6764 Betfair would not round up the stake to £1.68 as they could end up losing a penny themselves had you won.