Help needed – back bet odds reduced, rule 4?
I have placed a large back bet on the betfair exchange (horses) and layed it on smarkets. At the time the back bet was 2.2/2.3 and the lay was 1.7/1.6 so I jumped at the chance of making a bit of money without thinking why the odds were like that. About an hour later I checked my bets and saw that my back bets had reduced to 1.34 with no chance in my lay, resulting in my either losing a lot if my back wins or winning less if it loses.
I believe at the time I placed the bets, smarkets had reduced the odds based on a horse pulling out, but betfair hadn’t listed the horse as a non-runner at the time, so now I’m pretty screwed if the back wins as I will lose £75. If it doesn’t I will win about £30. Given the back odds the horse is a clear favourite to win so I am trying to see if I can cut my losses and reduce the possible losses. If any one has any advice I would be grateful.