Betfair minimum stake

[Larry]

Hallo,

Could someone explain to me the meaning of that?
It is said that minimum stake is 2,00e.
I heard that customers have been warned for stakings <2,00e and sometimes accounts closed if continously doing that.
But what is the meaning of the word stake?

Example:

Selection A,odds 100,I lay 0,20e so I risk losing 20e.

What is my stake?0,20 or 20?

Should I be warned by BF?

[custard]

When you lay a horse you must give somebody else the opportunity of backing that horse at the minimum stake of £2.

In the example you quote you should use a stake of £2. This means your liability would be £ 200.

Any use of amounts less than £ 2 is frowned upon by Betfair and you risk being warned/banned.

You could prove this to yourself by going to any greyhound race on the main Betfair site and trying to lay a dog for an amount less than £2. The bet will not be allowed and a warning will be shown on screen.

[Larry]

When you lay a horse you must give somebody else the opportunity of backing that horse at the minimum stake of £2.

Don't I?

If I risk losing 20e by laying,someone can back these 20e...

[custard]

Don't I?

If I risk losing 20e by laying,someone can back these 20e...

No, you do not afford the other Betfair member the chance of using a £2 stake. In order to match your bet he could only place to place a bet which was well below the £2 limit, i.e. £0.20. He is not allowed to do this and this is why you cannot/should not place your bet at the amount you say.

[Temujin]

2 pound stake at 1.01 is still a 2 pound stake regardless of what the liability is. If you enter this stake, it goes straight in. That is the clue right there. You won't have to trick the system by using other stakes, it just happens. You don't need to do anything for anybody else.

[custard]

This is getting confusing as it is unclear whether we are talking about back or lay bets. It is not possible to use a £ 1 LAY stake, or any under £2, on the main Betfair site. The Toy and some other types of softwares allow staking below the £2 limit by placing a series of bets. The main site reflects the Betfair rules, The Toy and others give a method of getting around those rules.

It's not a question of doing something for anybody else but I expressed myself in those terms so as to emphasise the "matching" of bets as a fundamental of exchange betting.

[Larry]

I really don t get it...

What is the difference between:

A.Lay at 100-----0,20*100=20
B.Back at 1,01----20*1,01=0,20

???

[custard]

Do as I suggested and go to the Betfair main site. Try placing your low stakes and you will see that they will be rejected in accordance with Betfair rules. If you use The Toy, and some others, you will be able to bet with low stakes but this will be against Betfair rules.

I have contacted Betfair and they have confirmed that I am correct. They will get back to me later with details of where this is explained in their rules and conditions so that others can read what they say rather than what I say.

[custard]

They have just phoned back and confirmed that I am correct. They refer people to point 9 of their terms and conditions under the heading "Betting". This says :

9.Minimum and maximum bet stakes
Depending on the product or type of market you are betting on and depending on the currency that you are betting in, there are minimum bet sizes that apply. These minimum bet sizes are subject to change and may differ depending on whether you are on our site or using the Telephone Betting Service. You are not permitted to place bets or try to place bets that are below the minimum bet size threshold and doing so may result in your account being permanently closed.

Your betting limit is represented by the lesser of: (i) your 'Available to Bet' balance shown in your account and (ii) your ‘Exposure Limit’ (which is available in the “Account Summary” tab in “My Account”). However in the event that we process an offer for a bet or the acceptance of a bet in an amount outside the applicable thresholds, such bet will nevertheless stand.

If you place a lay bet, the stake of that lay bet must be a minimum of £ 2. The liability is of no consequence. So, you cannot place a lay bet of 20p. By using clever software, like The Toy, you can end up with such a bet and it will stand ( Betfair will accept the bet, see last sentence above ). Carry on doing it and they will warn you, then ban you if you persist.

[Portman]

i think betfair accepts bets below the minimum only for edging a previous regular bet (>2). Otherwise i would be banned because i place a lot of these edging bets

[Cran]

minimum stake is YOUR stake regardless of whether you are backing or laying or the odds.

you can lay 2€ at 1.01
you can lay 2€ at 1000
you can back 2€ at 1.01
you can back 2€ at 1000

It has nothing to do with liability, it's the stake.

The clue is in the wording... minimum stake

[custard]

The problem has arisen because of the blurring of the terms "stake" and "liability" somehow thinking they are the same thing.

We are spoiled these days by software which does hedging calculations for us. I recommend that anybody who is confused by what has been said above downloads a calculator ( my chosen one is "Back and Lay" available at

http://eskei.com/betting/ )

and play with it until it all makes sense to them.

[doubleback]

The problem has arisen because of the blurring of the terms "stake" and "liability" somehow thinking they are the same thing.

We are spoiled these days by software which does hedging calculations for us. I recommend that anybody who is confused by what has been said above downloads a calculator ( my chosen one is "Back and Lay" available at

http://eskei.com/betting/ )

and play with it until it all makes sense to them.

For the best education, I would suggest using nothing but the betfair website and a hand held calculator, work out the formulas for yourself...........do it old skool style......

[shadowninja]

I think we're over-complicating things. The fact is, if you go on to Betfair's site and place a bet, lay or back, then you have to bet £2 irrespective of the odds. That is the rule. If you are uncertain, call Betfair as they probably get this question a lot.

[doubleback]

I think we're over-complicating things. The fact is, if you go on to Betfair's site and place a bet, lay or back, then you have to bet £2 irrespective of the odds. That is the rule. If you are uncertain, call Betfair as they probably get this question a lot.

Not entirely true, you can bet below the minimum stake on betfair:

Place a £2 bet @ odds that wont get matched >

Change the stake to £2 plus the stake that you really want to bet >

eg £2.50 >

This will then place a second bet for the additional stake over £2, eg £0.50 >

Cancel the original £2 bet >

Change the second bet odds to the odds that you require >

Once submitted, you have a bet under the minimum stakes......

Maybe you wont be able to do it like this forever but you can certainly get away with it.
It is stuff like this that you only learn from using just the betfair website,
the example above is also used by various software, so is advantageous to know
as you wouldn't want to get unwittingly matched at odds that you didn't intend to!