Don't understand my winnings

[iwanttoberich]

I signed up for the William Hill offer - £10 for £30 (3 x £10) bets. I just used one free £10 bet on a horse race and made the lay bet on Smarkets. My profit was supposed to be £7 and a bit. My horse won (I know it is not important) and my balance on WHill is now £30 (was £0 before), and I received the £10 bonus on Smarkets for my losing bet.

I am not complaining about the profit, just trying to understand how I ended up with £30 profit on WHill when it was supposed to be just over £7. I understand about the £10 on Smarkets. I just can't believe that I spent £7.18 on the lay bet and have ended up with £40 between the bookie and the exchange. Have I totally missed some calculation? I thought you only got whatever profit the PA calculator said.

 

[jkg-jkg]

My horse won (I know it is not important)

Actually it is. If you won £40 at the bookies you should have lost around £33 at the exchange. The difference is your 'profit'. If it had lost you would have lost £0 at the bookie (it was a free bet) and won £7 in the exchange and the same 'profit'.

 

[iwanttoberich]

Okay. So I won £30 at the bookie, lost my liability of around £22, making the difference between the two of them my profit. Then I got the £10 bonus from Smarkets for losing because that was their offer when I signed up to them. So I have made around £17. Think I got it now - well I hope so anyway.

 

[jkg-jkg]

Correct