I literally have no idea if I have made a profit or a loss overall... help!

georginauk

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Hi all!

I am new to this Matched Betting adventure... honestly, I have no idea what I am doing! I have been following PA's videos (I have done the Coral odder (which I think I did wrong because I didn't make anything out of it... I believe), Betfred's and Sky Bet's... My problem is, I must be thick or something because even looking at the statements from all my profiles... I cannot get if I am losing money or making a profit!

I believe that with all the money I am depositing in these accounts I am losing money left right and centre. I believe I am doing everything exactly as the videos say but I really cannot understand those statements!

I am trying to draw a spreadsheet where I can track my bets, etc as I find that Ultimatcher one too complicated, but I am a bit stuck on that front too... That's it. I am thick! I don't get it! hahah

So, my question is, would someone be open to having a look at my statements from these accounts (Coral, Betfair, Betfred, Sky Bet and Smarkets) and help me compile a spreadsheet or just simply tell me what the hell is going on with my money? Pretty please??

Thank you!!

Georgina
 

Jon

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Hi all!

I am new to this Matched Betting adventure... honestly, I have no idea what I am doing! I have been following PA's videos (I have done the Coral odder (which I think I did wrong because I didn't make anything out of it... I believe), Betfred's and Sky Bet's... My problem is, I must be thick or something because even looking at the statements from all my profiles... I cannot get if I am losing money or making a profit!

I believe that with all the money I am depositing in these accounts I am losing money left right and centre. I believe I am doing everything exactly as the videos say but I really cannot understand those statements!

I am trying to draw a spreadsheet where I can track my bets, etc as I find that Ultimatcher one too complicated, but I am a bit stuck on that front too... That's it. I am thick! I don't get it! hahah

So, my question is, would someone be open to having a look at my statements from these accounts (Coral, Betfair, Betfred, Sky Bet and Smarkets) and help me compile a spreadsheet or just simply tell me what the hell is going on with my money? Pretty please??

Thank you!!

Georgina
Generally you will make a loss of a few pence on the qualifying bet and then make your profit on the free vet

At the bottom of the calculator it will ALWAYS tell you how much you are making from each bet you place so that is the number to concentrate on
 

georginauk

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Yes, I know, so that bit is always ok, I "lose" 20-40 pennies and then I make some, but now looking back to my statements it looks like I am losing overall, instead of making any profits.

Yes, I do win a few bets but they don't add up with the money I am having to deposit in my accounts in order to lay the bets? I am not sure if I make sense... Hopefully someone will be kind enough to help me compile the spreadsheet to start on and see if we can understand if I have overall won or lost $$.
 

Cas

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the free bet part are they winning at the bookies?

can you put some figures of your bet please or screenshots
 

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Try and keep it simple. Profit = Current Balance (plus any withdrawals) - Deposits.

Add up all the balances you have in both the bookies and exchange, add any withdawals. Then add up all the deposits. Take the second figure from the first. If you have no outstanding bets this should be a positive figure
 
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Jon

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Just remember

If your bet loses at the bookie then the money you placed at the bookie goes OVER to the exchange

If your bet WINS at the bookie then the lay money you placed at betfair exchange goes OVER to make up your bookie winnings

I assume you are having to top up your betfair account because you keep winning at the bookie that's all
 

georginauk

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Let me post a screenshot of my Betfair statement.. Yes, I have won a couple but overall I think I have deposited more money than what I have right now? I will wait on Smarket because I have a bet for tonight, then I will see if the balance makes sense or not?
 
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Cas

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on the calculator with freebets use SNR
 

georginauk

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Try and keep it simple. Profit = Current Balance (plus any withdrawals) - Deposits.

Add up all the balances you have in both the bookies and exchange, add any withdawals. Then add up all the deposits. Take the second figure from the first. If you have no outstanding bets this should be a positive figure
OK, following your simple equation (god, I cannot believe this is taking me so long to understand!) in Betfair I have made £17.37 profit right now, am I correct?
 

Cas

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your first bet it looks like you have backed and layed .

was this for the coral offer?

the bet on the horses
 

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your first bet it looks like you have backed and layed .

was this for the coral offer?

the bet on the horses

That was my first bet I believe (let's not count Coral because I think I did it wrong there too) so I am assuming I did it wrong by what you are saying? OMG how can I be such an idiot... I am sorry guys, I am quite embarrassed by all this!

Let me wait until tomorrow and see what my Smarket balance is so I can post a screenshot here... maybe I did it wrong too?
 

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That was my first bet I believe (let's not count Coral because I think I did it wrong there too) so I am assuming I did it wrong by what you are saying? OMG how can I be such an idiot... I am sorry guys, I am quite embarrassed by all this!

Let me wait until tomorrow and see what my Smarket balance is so I can post a screenshot here... maybe I did it wrong too?
You never BACK at betfair exchange. You just Lay

BACK BET at the Bookie
LAY BET at the Exchange..

Oh and ALWAYS set the calculator to SNR for the freebet UNLESS THE OFFER INSTRUCTIONS SAY OTHERWISE
 
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Cas

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no need to be embarrassed. your learning right now, I've made mistakes which cost me.


it looks like overall you have made a profit but you have made a mistake on your first bet
 
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georginauk

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You never BACK at betfair exchange. You just Lay

BACK BET at the Bookie
LAY BET at the Exchange..

Oh and ALWAYS set the calculator to SNR for the freebet UNLESS THE OFFER INSTRUCTIONS SAY OTHERWISE
I am going to print that and frame it so I always remember! hahaha
 
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Jon

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Yeah don't worry about the mistakes, we've ALL done it!
 

georginauk

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no need to be embarrassed. your learning right now, I've made mistakes which cost me.


it looks like overall you have made a profit but you have made a mistake on your first bet
Let's see if tonight's bet adds up too... Thank you for your help guys, I really hope I get the hang of this soon!
 

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I am going to print that and frame it so I always remember! hahaha
Just read the instructions for each offer carefully and do EXACTLY WHAT THEY SAY and you'll be fine ;)
 

georginauk

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Just read the instructions for each offer carefully and do EXACTLY WHAT THEY SAY and you'll be fine ;)

Thank you!!! When I have enough money to open my little boutique hotel in Spain you are all welcome for a free stay for helping me so much!
 

Cas

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if you are unsure of anything please message.

Im still learning as well
 
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Cas

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if you can delete your transaction numbers on your screenshot. don't want someone (Bookies) to identify your account in future
 

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