Hi
I have put a £20 bet on for my FIL on Betfair Exchange
The odds when I bet were 14/1 when I went back the odds had gone up to 17/1 and a cashout button came up that I could cash out £16.44
Because I had never done this before, I thought that I would get back £16.44 and the bet cancelled and then I could put the £16.44 back on at 17/1 and be better off if I won
What happened instead was that Betfair gave me a lay bet (in actual fact I cashed out 3 times to the sum of £16.44)
I have no idea now what I have done and have attached some screenshots of what is showing
Basically, I still have a bet, and if I win I get £260
But
If I lose I have a laybet (Liability) of £263.48
but then there is another button that says Payout (where the black line is) that shows a total amount of £279.92
Not only that I had £30 in the account to start spent £20 - but my balance is now showing £26.44.
Can anyone help and explain as if I was 5
Because the laybet is more - If I lose who I backed, does this mean I then owe betfair the difference (£3.48)
Why is the payout more than the liability - or have I actally won either way
And why is my stake still there
Really confused Help