Hi everyone. I have been trying to wrap my head around the following concept for a couple of weeks now, however I'm not sure if I have the right answer. Let's say that I have a friend who looses most of his bets and I decide that I want to fade his picks all year long. And let's say that we are working with $100 units. If he goes to a bookie and places a bet on team A at -130 and he lays $130 to win $100 (thus insuring that he wins 1 unit), what bet would I have to place in order to make THE EXACT OPPOSITE BET as him?
Option 1-(I believe that this is called base betting) Let's say that team B is priced at +120. Would that mean that I would place $100 to win $120?
option 2-(also try to win 1 unit) Or am I suppose to try to win a unit also and risk $83 in to win $100?
option 3-(match the price with the dollar amount) or do I lay down $120 in order to win $144?
I believe that it's option 1 but of course I'm not sure.
Thanks for your time, any explanation would be helpful and appreciated.