Hi Jon, Thanks so much for checking in x thats really sweet.
I invested £35 over the 2 bookies tutorials, I lost everything on the bookies side, but my betfair account stands at £61 so made £25 on the coral and Betfred tutorials :) I understand what I am doing, didn't mess up, made a profit...
If I dont have the money to put more into my betfair account for liability, can I use my free bets in smaller multiples (3 x £10) to achieve the same / similar profit as betting 1 x £30. So Bet the £10 and wait til its finished, then bet the next £10?
I done my coral qualifier, and then used my free bets. I am up about £10 so great yes it works. But I am more confused now than when I started.
According to my Account Summary on betfair when my lay bet wins, my account is creditted with my stake less the fee. So where has the extra £10 come...
o_O okay! Thats as clear as mud. I must be a real wally brain. I still dont understand why my winnings came back into betfair less than what my stake was.
Why on betfair when I won did I get back less than what I bet though, if I win dont I win more than what I bet? Do you need some betting knowledge to understand this? Or am I being a complete thicko
Nope relooking at it I dont think thats right.
DEPOSITS
- £5 Into Coral - Used as a bet for free bets
- £15 Into betfair
BETTING
- £4.97 Bet on Betfair - WON + £4.97 less fee +£4.72
- £5 Bet on Coral...
Okay so onto my bet with £20 free bets. I dont want to have to put in any more to betfair (just topped up another £5 anyway) the odds on oddsmatcher for Poignant at 14.00 Ayr is 2.78 but on the actual betfair site its 2.76 in pink, and 2.78 in white. which one do I click?
Thank you Jon, you have been fab tonight x sorry for being so noobish lol first one done though and it seemed to easy to be true haha. is it the same process for horses? Just pick one to back and lay the same one on betfair by following the links on the oddsmatcher
Sorted x had to start again though - so im sure this is right.
Back Stake £5
Back Odds 1.53
Lay Odds 1.59
Lay Commission %
Results
At odds of 1.59, your lay stake is 4.97
Your liability will be 2.93
If the Bookmaker Bet wins, your overall position will be 0.28
If the Exchange Lay wins...
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