it only works on Betfair because it's a betting exchange as opposed to a straight bookies.
it's basically laying the bet - i.e. backing the opposite outcome.
i've currently got £20 on QPR @ 13.5 - meaning a profit of £250.00
because the odds have come in so much now, i can back QPR to NOT win the league at odds of 2.96. through some number crunching, if i layed QPR to the tune of £90 @ 2.96 i could walk away now with £70, regardless of what happens to QPR...
it's basically laying the bet - i.e. backing the opposite outcome.
i've currently got £20 on QPR @ 13.5 - meaning a profit of £250.00
because the odds have come in so much now, i can back QPR to NOT win the league at odds of 2.96. through some number crunching, if i layed QPR to the tune of £90 @ 2.96 i could walk away now with £70, regardless of what happens to QPR...
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