Join Date: Dec 2006
Posts: 14,014
So bet £200 on Labour to win most seats in UK general election at ~23:1 on the idea that the odds would shorten and I'd cashout at ~15-16:1
Gone my way, and is now offered at 17:1
Now the cashout shows £265.74 (~£65 profit)
However, if I cover by laying £200 at 17.5:1, I stand to lose £3,500 if labour get the most seats, yet my other bet I stand to gain £4,400.
What am I noobishly misunderstanding here? If I cover and wait for the result I win ~£800 right? Why is the cashout only +£50?
