@RufusPeabody @sporttrade_app question. if I have Morikawa at 60-1, can I make a market by offering it, or does the exchange need to make a market before I can offer it?
@losgatostrader @RufusPeabody @sporttrade_app You can just offer a lower odds on Morikawa through the betting exchange
@AbcpokerBI @RufusPeabody @sporttrade_app I understand that, but does the exchange need to make a market prior to me offering? Or will my offer make the market?
@losgatostrader @AbcpokerBI @RufusPeabody @sporttrade_app Hmm, not sure what you mean! Essentially prices will already be in the Morikawa to Win outcome by the time you see it. So, you can take whatever price is offered, or you can bid your own price, in which case you would have to wait for that bid to be matched to become a bet.
@a_kane47 @AbcpokerBI @RufusPeabody @sporttrade_app I already have Morikawa 60-1. How do I liquidate that bet to realize the current odds of +350 is my question.
Got it. It’s quite easy. Morikawa “No” price is -435. That’s roughly 81.3%. Take the total potential return of your “Yes” 60/1 bet, multiply it by 81.3%, and bet that amount. So for example if you had bet $100 at 60/1, your potential return is $6,100. Bet 81.3% x $6,100 = ~$4960 on “No” at -435
@a_kane47 @AbcpokerBI @RufusPeabody @sporttrade_app got it. So my return is the difference. Thanks!