Betdaq exchange : Lay bet liability

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Posts: 2
Joined: Tue May 08, 2018 10:54 am

Wed Jun 13, 2018 10:08 pm

Hi all,

I'm pretty new to trading so hope this isn't a silly question. I checked Betdaqs FAQs but couldn't find anything specific.

If you don't have the funds to cover the liability of a lay bet will it be accepted because you already have it covered with a back bet?

I hope that question makes sense. This is why I ask and will hopefully explain it better:

I backed Argentina at 11.5 to win the World Cup - £100 to win £1050 I was hoping to lay them at a later stage once they've progressed in the tournament but now I'm not so confident that they will do as well as I thought. Tonight I decided to place a lay bet @ 11.0 (to hopefully make a little profit) but realised I didn't have enough funds to cover the liability (£1045.50). I entered the bet anyway expecting an error message but to my surprise the bet got placed, although it is unmatched at this time.

Posts: 1940
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Wed Jun 13, 2018 10:44 pm

Hi thomsch, welcome to the forum.

I've never used Betdaq but I presume it's the same as Betfair.

If you back a team/horse you don't need extra funds to lay that selection because a lay bet is actually reducing your liability. Another back bet or a lay on a different selection would increase your liability so you would need funds for that. You only need enough funds to cover your maximum liability for each market that you have open bets on.

You also need additional funds to back and lay the same horse in different markets, such as day of race and antepost markets.

Good luck with getting your lay matched and making some profit. :)

Posts: 2
Joined: Tue May 08, 2018 10:54 am

Thu Jun 14, 2018 9:44 am

That's great Derek27, thanks. I've always worried that I'll not have enough money to cover a liability, that helps me a lot!

Woke up this morning and have been matched on the Argentina bet so made a little profit :D I could be wrong but I just see Argentina struggling in this tournament as they had problems in qualifying, their defence isn't that great and their main goalkeeper is injured. Should have done a lot more research to begin with!

You should give Betdaq a go, the commission is 2% at the moment. Liquidity and getting matched can be a problem, although I'm hoping that for the big games in the World Cup it won't be too much of an issue.

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