New to Betfair is this common

[*Yes*]

[omen666]

[darrensprengers]

would of been nice to have a bet on denmark in 92 for example
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The next best thing to gambling and winning is gambling and losing.

-- Nick "The Greek" Dandalos

[Seb]

I tend to see 'physical impossibility' as a point on a continuum, but I can see how other people might not see it as a probability with a value like any other. Still wouldn't protect them from themselves though.

[Alex B]

And if there is any chance that any 2 people could disagree on whether something was impossible, they should be able to bet on it.

I still can't see how there is a problem. Next someone will say its unfair if bookies do research.
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http://www.alexbowler.com

[evelyn]

[omen666]

Does anyone on here actually know how betfair works? Someone could have selected those odds and they are unmatched but left it to be matched when it hits the 1000
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[AndyH1964]

I've used Betfair for the past 9 years and made quite a lot of money on the site backing and laying.
1000 (999/1 to be precise) is the maximum price to back or lay.
Doesn't mean this is impossible, for instance Southampton are 1000 to win the Premiership (just checked and £442 has been matched at this price)
However, you can back Southampton at 7500/1 with Blue Square (only 1500/1 at William Hills)
If you had enough cash in your account you could have laid Southampton at 1000 for £40 on Betfair (meaning you will lose £39,960 if Southampton win the title) and put £10 on Southampton at 7500/1 with Blue Square.
You cant lose.....If Southampton dont win the title you win £38 on Betfair (you pay appx 5% commission on your win) and lose £10 to Blue Square overall profit £28
If Southampton win the title you lose £39,960 on Betfair, but win £75,000 from Blue Square overall profit £35,040

Sounds too goo to be true? Not Quite....on football bets you have to wait until the end of the season or until something is impossible before you get paid out.
You'd earn £400 on your £40,000 in interest at just 1%

But on horse racing or other sports you can do a similar thing. It's called arbing. I'm banned from virtually all bookmakers (well, bets are limited, for example I tried to put £20ew on Ernie Else to win the Open Golf at 45/1 with Boylesports and they would only let me put 12p ew yes twelve pence each way)

Bookies only want mug punters.

[MrGrieves]

The other thing I would mention is people sometimes use the 1000 odds to remove their liability on something they've layed at low prices, thus freeing the money instantly for other markets. Of course some hilarious 'just desserts' mishaps have happened too, like when the wrong horse was called as fallen and some guy lost 100 grand or something trying to trick people into losing 100 quid