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Reply To: betting exchange theory

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Phew lots of questions there DJ.

The most prolific B.Ex. (Betfair) will allow you to telephone in a bet (or lay) but will dictate a minimum spend i.e. £50.

The ‘first show’ is as soon as a potential backer or layer has offered or requested a price on a particular horse or horses – the night before is normal for most racing.

If you wanted a bet of any size your first decision is "what price do I want?" If the price you have decided upon (or better) is available and in the amount you wanted to back (£500 in your example) then you could accept that and place your bet. if however you wanted say 3/1 and the best on offer was 11/4 then you could enter a request for a layer (or layers) to match your £500 @ 3/1. You could enter that request and go back to the computer later to see if it has been accepted in part or wholly.

Finally, yes it is possible occasionally to see underround books – but there are some very shrewd operators on the exchanges and they would normally soon be snapped up.

Hope this helps