I know this is a bit of a school boy question but I want to back and lay a horse each way at Betfair.
Stake: £12.50 e/w 12.0 (1/4 the odds). This pays £196.88
£150 - 12.50 - win
£46.88 - 12.50 - place
I lay £12.50 on the win market and £12.50 on the place market.
My question is to work out the lay odds for the each way part do I simply do this:
£46.88/£12.50 = 3.75 and match this against the place market in Betfair.