How does an unmatched Exchange lay bet convert to SP at the off?
When you place a normal lay bet on the Exchange (not an SP bet) you risk a liability, which is the backer’s stake times the price minus one. If you choose the “Take SP” option at in-play then if the bet is still unmatched at the start of the event we convert it to an SP lay bet with the same liability. The amount of backers’ stakes you stand to win if the selection loses could be less than or greater than the original stake you specified, depending on the SP price calculated. E.g. – You request a lay bet for £10 @ 11.0. Your liability on this bet (how much you lose if the selection wins) would be £100. You then choose the “Take SP” option and the SP is calculated to be 6.0. If the selection wins you still lose the £100 you risked, but now you can win £20 (as it is a 5/1 shot) rather than the £10 you originally could have won. If on the other hand the SP is 21.0 you still risk £100 but your potential win is now £5.
