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Laying two different outcomes for the same match at Smarkets. Fine or blunder?

Have I messed up by laying two different outcomes for the same match at Smarkets? Doing so certainly seems to have dramatically reduced the total liability, I’m not sure if it’s had any impact on the potential winnings. I would usually use different exchanges in that situation, but the offers were a couple of days apart and it slipped my mind.

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Steve1912
1

May 9, 2023 at 3:39 pm

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tradeax 5 May 9, 2023 at 7:42 pm

Assuming you placed your lay bets correctly as advised by the calculators, you haven’t messed up.

As you bet on different outcomes of the same event, the liability can be reduced.

Take an example of a two outcome market, both teams to score with hypothetical odds of 2 for both outcomes
If I lay £10 on YES at 2, liability is £10
If I lay £10 on NO at 2, liability is £10

If I place both lay bets, liability becomes £0, as the win from the winning bet will cancel out the liability of the losing bet.

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Steve1912 1 May 9, 2023 at 11:16 pm

Duplicate

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Steve1912 1 May 9, 2023 at 11:18 pm

All’s well that ends well. The winning bet did indeed reduce the liability of the losing bet, as they were in effect combined. It even made the winning bet commission free, as there was a net liability over the two bets. I was a tad worried beforehand, as I thought putting the second bet on had skewed the matching of the first bet. The more I looked at it, the less it seemed that it would work out. Thanks for the reassurance.

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