£5.71
Backing out of my original LAY Bet by placing a BACK BET at odds of 14.00 and a Stake of £14.29 puts me into a “Guaranteed Profit ” situation. I don’t care what the re sult of the race turns out to be.
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 £185.77 from my BACK bet—a net result of £5.77 Profit.
If Sunset Mirage LOSES then I keep the £20.00 Stake Money which someone has bet with me. This £20.00 less the £14.29 I staked on Sunset Mirage to WIN, gives me a net profit of £5.71