How to back or lay for less than the minimum stake allowed on Betfair
Backing/Laying for less than the minimum stakeThis info is especially useful if you are experimenting with betting exchanges, testing new strategies, greening up, getting used to strategies, transferring money from one outcome to another at high odds or just getting used to the exchange environment then you may want to back or lay below the £2 minimum bet size. Here is how to do it. In the following examples which include graphics I will place a bet on both the back and lay side for only 1p.In the example, we’re looking to back and lay on a Football Match between Blackburn and Everton – this is just an example, and the concept works on all markets available. The example is based on Betfair markets – I haven’t tried this on other Exchanges, as I usually find I can match odds easier on Betfair – but this will work on other exchanges that operate in the same way. I would advise trying this, without committing yourself to a bet, before confirming that it works on exchanges other than Betfair.Contents: -•Backing at less than the minimum stake•Laying at less then the minimum stake•Why does this work? Backing at less than the minimum stakeSTEP ONE - Place a bet by backing the minimum amount at "stupid" odds. Make sure the market can accept these odds without filling your order – I’d recommend using “1000” as “Your Odds”, but you’ll need to make sure these odds won’t be matched – if they are, you’ve placed a bet for £2 @ 1000! I haven’t seen this happen yet, but I can imagine that it’s possible! STEP TWO - Go into the "My bets" section of the screen and modify you order for £2 £ amount you want. In this example we want to place a bet for 1p so I have modified the order value to £2.01. You’ll notice that the amount in “Your Stake” changes to red. When you have done this click submit.STEP THREE - The new order will enter the market - not as one bet, but two. One bet for the original stake of £2 then another bet for 1p. STEP FOUR - Now cancel your original bet of £2 at "stupid" odds. You do this by clicking on the yellow cross next to your £2 bet. Once it is greyed out, (see screenshot below) click submit again. STEP FIVE - Modify your new order for 1p to the odds that you want it to be matched at or the current odds. Submit the bet again. You have now successfully placed a bet for 1p in the market to back at odds of 4.9 to one.I would recommend that you cancel your £2 bet at stage four, as this will reduce the risk of your bet being matched. Of course, you can leave this bet, (you can even adjust the amount again if you wanted to create another bet lower than the minimum – see stage two) but the longer this bet is “live” the higher the chance of someone matching it.Why does this work?Betfair operates on a queuing system - all bets placed on the system are queued, and matched on a “first come, first served” basis. In order words if you placed a bet for £10 at 14:01 then modified the bet to £20 five minutes later the amount will be separated into another bet and the Betfair system will place the balance at the current time 14:06. The system will show not one bet at £20, but two - one for £10 placed at 14:01 and another for £10 at 14:06. This is so you can not jump the queue in order to get matched first. If bets were not put into a queuing system you would have chaos in each market as everybody tried to trump each other and get to the front of the queue. It is this system that allows us to bypass the minimum bet level. Laying at less than the minimum stakeHere is the opposing situation to backing a small amount. You can see I have used the same principle but had to modify the way I place the bet because I am on the opposing side of the market. Laying at very short odds instead of backing at very high odds.STEP ONE - Lay £2 at "stupid" odds (1.01) – again, checking that the market won’t “match” these odds before confirming. STEP TWO - Modify the bet amount in “Backer’s Stake” to minimum plus the stake you want to lay. In this case £2 1p or £2.01STEP THREE - Submitting the new price has created two bets (neither of them filled by the market because of the silly price offered by you). STEP FOUR – Now cancel the original bet, and alter the new 1p bets’ odds to fill at the current price (or the price you are looking for). We just laid 1p @ 4.7.Good luck!Amazing Lay ProfitsLearn how to make a lot of money using Betfair/Betting Exchanges! http://www.amazing-lay-profits.co.uk
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