Manly paying 25/1

[Matabele]

[quote author=Matabele link=topic=182812.msg257073#msg257073 date=1269570310]
Can someone explain to me what it means to lay off a bet?  So if you take the 25/1 odds, we go on a winning run, you can lay off the bet at say $15 and you've covered your original investment with a chance to cash in if we do indeed go on and win?

That is the ideal scenario Matas. The hard part in the past of achieving this was to be able to easily find someone who would take your offering @ 15s. These days though Betfair is around which means you can be both a punter and a bookie. You can probably find someone offering better that 25-1 (maybe 30-1) and place a bet on Manly to win, and when the odds drift back in you play the position of bookie on Betfair offering 15s for the amount of your original bet. You then have the difference between the odds you first got and the odds you got as a bookie going for you for no cost at all, but the payout only occurs if Manly actually wins. Hope that is clear as mud. 🙂
[/quote]  Yep, that makes sense.  It would rely on taking Manly now and then hoping they get on a roll.  Their next few weeks are far from daunting.