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Trading question.

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joskin
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« on: June 22, 2016, 02:02:37 PM »

At the start of the tournament I layed a 10.00 back bet on  England to win Euro 2016 at 10.5 with a stake of 8.61 and a liability of 81.79.Now the lay odds have risen to 13.00.
Then I backed Italy last night at 20.00 for 10.00, thinking that if the odds dropped I would lay and make a profit. That’s about as far as my understanding of trading takes me.
Now Betfair offers me Cashout of 93.63.
Can anyone help me to understand this ? By what magic has my 8.61 lay bet become worth so much ?
What would I be doing in the real world if I was trying to do what the Betfair software is doing ?
Thanks.

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fairpunter
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« Reply #1 on: June 22, 2016, 03:17:23 PM »

At the start of the tournament I layed a 10.00 back bet on  England to win Euro 2016 at 10.5 with a stake of 8.61 and a liability of 81.79.Now the lay odds have risen to 13.00.
Then I backed Italy last night at 20.00 for 10.00, thinking that if the odds dropped I would lay and make a profit. That’s about as far as my understanding of trading takes me.
Now Betfair offers me Cashout of 93.63.
Can anyone help me to understand this ? By what magic has my 8.61 lay bet become worth so much ?
What would I be doing in the real world if I was trying to do what the Betfair software is doing ?
Thanks.
maybe Betfair shows multiple of bet profits, (81.79 + 8.61) + 10 = 100.4
if Betfair offers cashout of 93.63, it means you lost 6.77
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joskin
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« Reply #2 on: June 22, 2016, 03:49:40 PM »

I get it. Thanks.
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