RE: Betting with Bookie: Stake and Liability
A non-betting individual here. I am missing information here: In the above example, why would anyone want to place a Lay bet of 11 mBTC and only get back 10mBTC if it "goes their way"? I am assuming it has to do with odds, but how the above example shows. If you place the Lay and the Lakers win, you lose 11 mBTC, if the Lakers lose, you get only 10 mBTC? Please advise.