£10.00
Backing out of my original LAY BET by placing a BACK BET at higher required odds and appropriate Stake puts me into a “Guaranteed Profit Target” situation. I don’t care what the result 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 £190.00 from my BACK bet—a net result of £10.00 Profit.
If Sunset Mirage LOSES then I keep the £20.00 Stake Money which someone has bet with me. This £20.00, less the £10.00 I staked on Sunset Mirage to WIN, gives me a net profit of £10.00