Can anyone help this n00b?

[ladymissell]

Hi everyone, I'm hoping you can lend me some of your matched betting wisdom!

I've signed up for Profit Accumulator and done the first three signup offers (Coral, Betfred, Ladbrokes) and have been using Betfair as the exchange. I'm using the PA profit tracker and it's showing that I'm at a loss currently, which I don't understand because I followed the PA instructions to the letter! Could someone have a little look and tell me if I'm just being really thick here or something?

spent on qualifying bets = £20
spent on liability = £185
Winnings: coral £97.50, ladbrokes £7.69, betfred £0, betfair £95.40

SO

money spent: £205
money made: £200.59

It's a loss of £-4.41! And I don't understand how. I feel like I've chucked a load of money at this and lost it all and now I'm really short until I get paid in the middle of the month. This is so frustrating! Can anyone help me please??

 

[jkg-jkg]

Have you taken into account that you will be receiving free bets from those bookies, which you will then get a profit from? -£4.41 seems an ok QL for a newbie if the free bets are yet to come.

 

[ladymissell]

Have you taken into account that you will be receiving free bets from those bookies, which you will then get a profit from? -£4.41 seems an ok QL for a newbie if the free bets are yet to come.

but this is the situation AFTER all the free bets have come in!

 

[Jon]

but this is the situation AFTER all the free bets have come in!

I thought betfred take 48hrs to get your free bet from and I thought you only started doing this a day or two ago - maybe that’s changed with them now.

With every qualifying bet you make a few pence loss and with the free bet you make your money.


Have you had the calculator set to SNR when you do the offers how much has it said at the bottom of the offer you are going to be making with each offer?

It’s mathematically IMPOSSIBLE to not make money from the free bets so you are either tracking it wrong or doing them wrong

 

[ladymissell]

I thought betfred take 48hrs to get your free bet from and I thought you only started doing this a day or two ago - maybe that’s changed with them now.

With every qualifying bet you make a few pence loss and with the free bet you make your money.


Have you had the calculator set to SNR when you do the offers how much has it said at the bottom of the offer you are going to be making with each offer?

It’s mathematically IMPOSSIBLE to not make money from the free bets so you are either tracking it wrong or doing them wrong

I did the qualifying offer on Betfred on the 29th Sept and then used the free bets yesterday once they came through for a match on the same day. Yes I've been making sure the calculator is set to SNR. I really don't understand i suppose I must have made a mistake somewhere!

 

[Jon]

I did the qualifying offer on Betfred on the 29th Sept and then used the free bets yesterday once they came through for a match on the same day. Yes I've been making sure the calculator is set to SNR. I really don't understand i suppose I must have made a mistake somewhere!

If you go onto the pa calculator now and out in the numbers you used for the betfred free bet how much does it say at the bottom of the calculator you have made from that offer?

 

[ladymissell]

If you go onto the pa calculator now and out in the numbers you used for the betfred free bet how much does it say at the bottom of the calculator you have made from that offer?

The calculator says I should have made £18.34 (stake of £30, back odds of 2.86, lay odds of 2.94, commission at 5%)

 

[ladymissell]

I"m just trawling through my transaction history on Betfair right now - it's saying for that match I won £19.38. But I'm still overall in a loss....


I think I"ve just found why! I used my Ladbrokes free bet on Sheff Weds vs West Brom and I've lost that at both the bookies AND at the exchange. That must be why I've lost money - how can that happen though? I've double checked and it was definitely the same match at both the bookies and the exchange. On the calculator it says I should have made just over £13 for that match!

 

[Jon]

The calculator says I should have made £18.34 (stake of £30, back odds of 2.86, lay odds of 2.94, commission at 5%)

Right then that's the money you've made..

What about if you tot up how much you've made from the other freebets...

Remember you haven't 'spent' £200 - you've just used it..It's still there

 

[Jon]

I"m just trawling through my transaction history on Betfair right now - it's saying for that match I won £19.38. But I'm still overall in a loss....


I think I"ve just found why! I used my Ladbrokes free bet on Sheff Weds vs West Brom and I've lost that at both the bookies AND at the exchange. That must be why I've lost money - how can that happen though? I've double checked and it was definitely the same match at both the bookies and the exchange. On the calculator it says I should have made just over £13 for that match!

Did you accidentally BACK the same team in both instances so instead of Backing at the bookie and LAYING (pink box) at the exchange

 

[ladymissell]

Did you accidentally BACK the same team in both instances so instead of Backing at the bookie and LAYING (pink box) at the exchange

I don't think so - I always choose the pink box with the odds that match what the calculator shows (which I think is the right way to do it??). But maybe I layed at the bookies then instead of backing? I can't see how to find that info on Ladbrokes. Christ this is frustrating - I think maybe it's all a bit much for my tiny brain!

 

[Jon]

I don't think so - I always choose the pink box with the odds that match what the calculator shows (which I think is the right way to do it??). But maybe I layed at the bookies then instead of backing? I can't see how to find that info on Ladbrokes. Christ this is frustrating - I think maybe it's all a bit much for my tiny brain!

Everyone makes mistakes so don't worry about that but like i said it is MATHEMATICALLY impossible to not make GUARANTEED money from the free bet as long as you follow the instructions.

Did you maybe use Ladborokes Exchange by accident instead of the main ladbrokes site?

What does your Betfair Exchange history show for that event in terms of what you laid on?

 

[ladymissell]

Ok so I had backed Sheff Weds at Ladbrokes and layed at Betfair but the match was a draw. So I still should have won at the exchange right?

 

[Jon]

Ok so I had backed Sheff Weds at Ladbrokes and layed at Betfair but the match was a draw. So I still should have won at the exchange right?

Correct if you clicked on the pink box at betfair exchange and put the amount in you would win at the exchange if Sheffield Wed Lost or Drew

 

[ladymissell]

Everyone makes mistakes so don't worry about that but like i said it is MATHEMATICALLY impossible to not make GUARANTEED money from the free bet as long as you follow the instructions.

Did you maybe use Ladborokes Exchange by accident instead of the main ladbrokes site?

What does your Betfair Exchange history show for that event in terms of what you laid on?

Oh maybe I did use the ladbrokes exchange by accident - I didn't even know that was an option on the page

 

[ladymissell]

Correct if you clicked on the pink box at betfair exchange and put the amount in you would win at the exchange if Sheffield Wed Lost or Drew

Exactly, so I don't understand why I lost at the exchange then. Here's what my transation history says:

placed: 03-Oct-18 12:32:27
settled: 03-Oct-18 21:43:02
Fixtures 03 October / Sheff Wed v West Brom / Match Odds Ref: 139698978117
odds: 3.85
stake: £13.68
status: Lost
in: £--
out: £38.99
balance: 43.70

 

[Jon]

Exactly, so I don't understand why I lost at the exchange then. Here's what my transation history says:

placed: 03-Oct-18 12:32:27
settled: 03-Oct-18 21:43:02
Fixtures 03 October / Sheff Wed v West Brom / Match Odds Ref: 139698978117
odds: 3.85
stake: £13.68
status: Lost
in: £--
out: £38.99
balance: 43.70

It says that you 'lost' that lay bet which makes me think did you accidentally click the blue box instead of the pink one

 

[ladymissell]

It says that you 'lost' that lay bet which makes me think did you accidentally click the blue box instead of the pink one

I thought I'd been really careful with picking the pink boxes so far but I suppose I must have done it wrong this time. Sigh Oh well, at least I've found where the mistake was! Thank you so much for your help, I'll wait til I get paid and then have another very careful try at it, lol!

 

[ladymissell]

No! argh! I've just found on Betfair that it was definitely a lay bet that I placed! Omg this is annoying. I'm now talking to customer service at Betfair as I think they might have made a mistake then - if it was a lay bet and the result was a draw then I should have definitely won.

 

[Jon]

No! argh! I've just found on Betfair that it was definitely a lay bet that I placed! Omg this is annoying. I'm now talking to customer service at Betfair as I think they might have made a mistake then - if it was a lay bet and the result was a draw then I should have definitely won.

let us know what they say