Hi all,
First of all, I would like to apologize for my bad english - I am from Poland.
I am pretty new to the betting world, and I have a question.
On Betfair, I deposited ca. £300 and backed Donald Trump's victory at odds 7.
I used the Cash Out option, which opened a lay position and gave me back a portion of the cash I put on the first back bet.
With this cash that was refunded on my account, I opened another back bet, and I repeated the manoeuver many times, including when the back odds dropped following the new Clinton's emails scandal.
Now, I can see in my open bets the following things :
Back (Bet For) Donald Trump
Odds 4.36
Stake £8,615.54
Profit £28,932.92
Lay (Bet Against) Donald Trump
Backer's odds 4.38
Backer's stake £8,573.92
Liability £28,974.52
Now my question might seem stupid, but again, I'm really new at betting.
If Donald Trump wins the election on November 8th, will I really have on my account, as money I can withdraw, the £8,615.54 + (28,932.92-28,974.52) = £8,573.94 ?
This seems absolutely insane, as I deposited only around 300£. Though I always thought that, when you win a bet, you get back your stakes + your profit - your liabilities.
Also, if Donald Trump loses the election, will I really have, as money I can withdraw, the lay staked, ie £8,573.92 ?
And if I don't, how can I calculate how much I'm really going to get back ?
Thank you !
First of all, I would like to apologize for my bad english - I am from Poland.
I am pretty new to the betting world, and I have a question.
On Betfair, I deposited ca. £300 and backed Donald Trump's victory at odds 7.
I used the Cash Out option, which opened a lay position and gave me back a portion of the cash I put on the first back bet.
With this cash that was refunded on my account, I opened another back bet, and I repeated the manoeuver many times, including when the back odds dropped following the new Clinton's emails scandal.
Now, I can see in my open bets the following things :
Back (Bet For) Donald Trump
Odds 4.36
Stake £8,615.54
Profit £28,932.92
Lay (Bet Against) Donald Trump
Backer's odds 4.38
Backer's stake £8,573.92
Liability £28,974.52
Now my question might seem stupid, but again, I'm really new at betting.
If Donald Trump wins the election on November 8th, will I really have on my account, as money I can withdraw, the £8,615.54 + (28,932.92-28,974.52) = £8,573.94 ?
This seems absolutely insane, as I deposited only around 300£. Though I always thought that, when you win a bet, you get back your stakes + your profit - your liabilities.
Also, if Donald Trump loses the election, will I really have, as money I can withdraw, the lay staked, ie £8,573.92 ?
And if I don't, how can I calculate how much I'm really going to get back ?
Thank you !
