- This topic has 8 replies, 5 voices, and was last updated 12:29 pm , 20/11 by
PR Support.
-
Posts
-
Drizzle68
I am a complete newbie and know NOTHING about betting….but have read over courses and tutorials over and over again and completed all my sign ups elsewhere before I came her. I’ve found Caan much easier to understand and now wanted to give it a go to do back and lay betting risk free daily for small profits (that will hopefully build up). I want to only use Betfair, so am using that for back AND lay bets…but when I used the matching tool and risk free option on the bet calculator, I followed the horses that had been chosen in each race and backed and layed in accordance with the risk free calc. I had worked out that I should have had a profit of anywhere between 0.80-1.66 for each race..( had the risk free option selected and then 80% retention selected. £3.00 back bet stake, and 5% commission selected for Betfair, and through calc was advised to lay bets around an average of £2.50.) Those 12 bets that I placed showed that I should have been getting profits of around £1.00 each race….but when it came to it, I only made a few quid in TOTAL and then my balance stayed the same despite placing 12 bets. Therefore i’m definitely either not understanding/or doing something wrong re the calc. Most of the odds had drifted slightly but I used the calc for the updated odds. Can anyone who is more experienced please guide me in this? I’d be so grateful, i’m looking to try and make a profit each week of 10.00 + weekly Many thanks Lynn
pnr8uk
Hi Lynn Welcome to the great world of Match Betting.
First word of caution, if I have read your post correctly, don’t use Betfairs’ Sportsbook to Back and Betfairs’ exchange to lay which I think you may have been saying.
It’s fine to back and lay on the exchange but that is trading and a whole other topic.
Again sorry if I have read it wrongly but a risk free bet is a special bookmaker bet they send out on special events, so you shouldn’t be using that part of the calculator for straight match betting. For straight forward match betting you need to use NORMAL mode, now NORMAL mode will 98% of the time give you a small qualifying loss if you follow the instructions on the calculator, unless you get an ‘arb’ which is a price on the exchange less than at the bookmakers.
Now if you have FREE bets you need to use SNR (98% of the time) on the calculator and hopefully when you punch in the prices and the commission you will see you will make a profit after taking away your qualifying loss.
I would also check your commission as Betfair normally give you £500 of bets at 0% commission, this is used up much sooner than you think. And unless you have some real reason to be using Betfair I would recommend Smarkets as they have 2% commission.
I won’t answer anymore now in case I have read your post wrongly, but feel free to let me know and I am happy to help you further.
£10 a week in your first month is absolutely achievable even with the smallest of banks.
Hope this has helped
Thank you so much for your help. That is really informative and helps me a lot.No, its just the exchange and not the sportsbook that i’ve Been using.I’m trying lay betting on Betfair at the moment and seem to have been more successful!I also have signed up with Smarkets, so will keep your advice in mind.Thanks again for all your help, its very much appreciatedKind RegardsLynnOk that’s good Lynn.
Be careful just laying on the Exchange as one of those dead certs to lose at 25/1 will come in and wipe out your bank. It took me a long time to figure out liability, in my early days I remember just whacking £2 lays on anything really, I got up to £170 and I was thinking ‘man this is easy – I’m going to be very rich’
The the 30/1 I laid went and won and wiped out my entire bank.
Good luck with everything
Very best wishes
Paul
Hi Paul,
you are absolutely right!
I was going along quite nicely until the inevitable sure to lose horse won…but i’m Trying to keep going for the odds as low as possible to at least try and minimise the loss. Great fun huh?
I want to thank you once again for all your help, its very much appreciated
Kind regards
Lynn
Rick19
Hi Drizzle68
I agree with whats been said, sometimes noticing our mistakes are one thing, preventing ourselves doing it again can be another 🙂
All the best Rushers.
R
Rox
I wish it was so easy Rick! I usually make a mistake when trying to get s bigger profit or rushing ya
Well we all make them, don’t let it bring you down, just take a break (if necessary) and keep going 🙂
PR Support
You are correct, Rick!
The difference between those who regularly succeed and those who don’t is that the winners are often quicker to “get back on the horse”. They don’t become disalusioned or de-motivated by the bumps on the journey.
- You must be logged in to reply to this topic.
