I guess i did not understand what liability is.
If i want to lay 100 on team A and the decimal says 3,15 it says the liability is 215.
Now what is that figure?
Do i bet 100 or 215?
The liability is the money you are bound to lose when you make a certain bet.
When you go to a normal casino, and you bet $100 on the Roulette, what is your liability?
Answer: $100
You can only lose $100, if you lose your bet you lose the $100 you betted!
Now let's see it from the casinos perspective.
When you make a bet on Roulette, what you're actually doing is making a "counter bet" against the casino.
So you are betting on number 30 on the roulette, your odds should be about 36.
Which means that if you win, you win $100 x 36 = $3600 (discount the initial $100) and your profit is $3500!!!
So, you as the player, you have a possibile liability of $100 or a possible profit of $3500.
One of these outcomes will happen, either you lose your $100, or you have a profit of $3500
From the casino side, they are also betting against you, which means the casinos liability in this event is $3500!
The casino will either earn $100 or lose $3500!
Do you understand what liability is now?
Exchange sites such as betfair, do not bet against you like a normal casino, instead they have other users betting against each other, making each user both a gambler and the casino!
When you have a odd of 3.15, and you want to know your liability for a lay bet of $100.
Here's what you do.
$100 x 3.15 = 315 - $100 = 215!
you have a liability of $215!
Which means if you win, you win the $100 (that other player has betted agianst you, by making a normal bet)
And if you lose, you lose $215.
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Code:
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