£10.00
Backing out of my original LAY BET by placing a BACK BET at higher required odds and appropriate Stake puts me into a “No Lose” situation.
If Sunset Mirage WINS I will have to payout £180.00 to the person who has placed a bet with me, but on the otherhand I will make a profit of £180.00 from my BACK BET—a net result of NIL Profit.
If Sunset Mirage LOSES, as I hoped he would, then I keep the £20.00 Stake Money which someone has bet with me. This £20.00, less the £10.00 I staked on Sunset Mirage to WIN, gives me a net profit of £10.00
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