Managing Liability - World Cup Offers
There are lots of profitable World Cup Offers on the 'outright' (winner of the World Cup) and 'top goalscorer' markets.
You may think you'll need a big exchange balance to do all these offers given the high lay odds - the favourite is Brazil with lay odds of 5.5 whilst the top goalscorer favourite is Neymar with lay odds of 12.0!!
To help with this, you can place choose a different team (or player) for each offer to significantly reduce your liability required. Let's see how this works:
Let's say you place a £10 lay bet on:
- Brazil - 5.5 lay 0dds for a £45 liability
- Germany - 6.2 lay odds for a £52 liability
- Spain - 7.6 lay odds for a £66 liability
Adding up these 3 liabilities give you £163 total liability.
However, only 1 country can win the World Cup and Betfair and Smarkets know this!
So the exchange only needs your highest liability, being £66 on Spain rather than the full £163 liability.
Even better, should Spain win then you would win your £10 lay bets on Brazil and Germany, and again the exchanges know this!
So placing these 3 lay bets would only need £46 liability, being £66 liability (Spain) - £10 lay stake (Brazil) - £10 lay stake (Germany). Pretty awesome!
Tip - Place Your Lowest Liability First
It's best to place your lowest liability first!
This is because by the time you go to place your highest liability lay bet, it will then instantly net off against the lay stakes of your other lay bets.
To help show how this works in practice on the exchange, using the example above:
1) When you place your £10 lay bet on Brazil
The exchange will deduct £45 liability from your account.
2) When you place your £10 lay bet on Germany
The exchange will actually add by £3 to your account.
This is because your highest liability has increased by £7 (going from £45 Brazil to £52 Germany). However this £52 liability on Germany is now netted off against your £10 lay stake on Brazil for a £42 combined liability.
3) When you place your £10 lay bet on Spain
The exchange will deduct £4 liability.
This is because your highest liability has increased by £14 (going from £52 Germany to £66 Spain). However you have now placed an additional £10 lay stake on another different team so your combined liability only increased by £4 (£14 - £10).
Overall, the exchange has only needed £46 liability (£45 - £3 + £4) for placing these 3 lay bets!
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