Need an experienced opinion
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So I’m having trouble wrapping my head around something and I would appreciate someone more savvy than myself to help me understand.
The scenario is, the Tottenham vs Middlesbrough game yesterday. I put a £25 bet on for Tottenham to win at 1.3. This was at Betfair with their 50% bonus on profits if you cash out. I cashed out after they scored for £30.03. £5.03 profit and a £2.50 free bet.
That’s great, but that’s the part I understand.
I put a lay bet on Tottenham on the exchange as insurance. I’m treating my betting experience very much as an experiment, so I wanted to do two things: 1) insurance in case Middlesbrough scored a hail Mary or stalled it out to a draw and 2) test out the “cash out” on the exchange.
I cashed out before Tottenham scored. It added 4 different lay bets. At the end of the game, I made +£7.50, +£2.04, +£0.07 and -£7.99 on the exchange. They were lays for The Draw, Middlesbrough, Middlesbrough and Tottenham respectively. My original lay was only for Tottenham.
That’s a profit of £1.62 on the exchange, along with my winnings and free bet. I do realize the risks involved in cashing out my lay bet like this and it is more akin to gambling than match betting, but I was just wondering if someone can help me understand these duplicate lay bets and pitch in any other information you think I might find useful?
Thank you in advance!
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