How do you offload liability on a football bet?
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Hi,
If I have a game where I believe a goal will happen and I put a straight bet on at admittedly poor odds of 1.15, how do I offload some liability around the 75-80min mark of a goal starts to look unlikely?
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Awesome. Thanks for the explanation. I’ll give it a try.
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@adam-marshall Cashing out will put an equal p/l on all outcomes (hedging) whereas just placing an opposing lay will allow you to take some liability out but leave different p/l on the different outcomes. So say you backed Over 1.5 goals and there was a goal 5 minutes later you would be offered a cashout, lets say £5 profit. You'd get that profit whatever else happened in the game, whether there was no more goals or 10 goals, youre done with that trade once you cash out. But if you wanted to take your liability out then youd lay your original stake at lower odds and it would effectively leave more profit on O1.5 (lets say 8.50) but scratch on U1.5. If the trade goes against you and the odds have risen then you are going to have a loss, so you either cashout and your trade is finished for an equal loss over all outcomes or you could just lay a bit of your stake and end up with minus £x if your bet loses and minus £y if it wins
What you're describing can be done on a market with 2 outcomes but its just the same really, so if you backed Over 1.5 initially then you could either back Under 1.5 or lay over 1.5, its the same outcome in effect. Or in Tennis you backed Player A then you could either lay player A OR back player B (be sure its a 2 outcome market though if backing 2 outcomes)
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Nice one, fair point. But is that not just the same as cashing out for a loss?
I guess I was hoping for an opposing bet in another market that would save my stake and some of the profit. You know, moon on a stick stuff
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You just place a lay bet if your first bet was a back bet. On the Betfair site itll show you the P/L in red/green under your selection