MB newbie made a huge mistake

[iwanttoberich]

After considering this for several months, and spending a long time placing my first bet, I totally forgot to use the calculator for my £20 free bet from Coral. It was only when I went to complete the Betfair ones that I realised I would be making a loss of £1.05. I know I cannot cancel the Coral bet so I guess I have to go through with the Betfair one. Do I have to deposit the liability amount and only lose £1.05? Or will I lose the liability amount? I feel so useless because I was doing well up until then. Now I am scared to continue.

What will happen if I simply don't do the lay bet? The horse race I bet on is at 3.30pm, so do I have until then to do something?

 

[iwanttoberich]

Okay. Panic slightly over. I had forgotten to change the bet type to Free Bet (SNR). However, I did not fully understand what I needed to deposit to my Betfair account and now have to wait because they say the time between deposits is too short. I guess all is not lost yet.

 

[Jon]

Let's go back to the start

Why can you not set the calculator to normal and put the stake + odds for the qualifying bet into the calculator and the. The current lay odds and it will tell you how much to lay

 

[iwanttoberich]

Thanks for the response Jon. I have it all sorted out now. I was thrown by the fact that the calculator showed me a loss when everything I have read about the free bets says you can't lose and everyone made a profit of around £14. Then I became confused about whether the deposit had to cover only the lay bet or the liability amount. In a fit of frustration I went to make a cup of coffee and then it hit me that I had missed a step. Once I changed the calculator to free bet snr as per the Profit Accumulator video it showed me the profit. I deposited (one of the live chat people sorted this for me) more money to my Betfair account to cover the liability and was able to place my bet. The calculator had shown a profit of around £15. I was too flustered to go for the second free bet so I will wait until this one clears through.

 

[Cas]

Thanks for the response Jon. I have it all sorted out now. I was thrown by the fact that the calculator showed me a loss when everything I have read about the free bets says you can't lose and everyone made a profit of around £14. Then I became confused about whether the deposit had to cover only the lay bet or the liability amount. In a fit of frustration I went to make a cup of coffee and then it hit me that I had missed a step. Once I changed the calculator to free bet snr as per the Profit Accumulator video it showed me the profit. I deposited (one of the live chat people sorted this for me) more money to my Betfair account to cover the liability and was able to place my bet. The calculator had shown a profit of around £15. I was too flustered to go for the second free bet so I will wait until this one clears through.

i had a similar panic to you . when doing that first offer the other day as well.

but i would suggest going on to the second offer , because you have to wait 48 hours till you get your free bet on bet fred.

 

[Jon]

Basic Matched Betting 101 (UNLESS THE OFFER INSTRUCTIONS SAY TO DO DIFFERENTLY)

Place your qualifying bet as normal

and make a loss of a few pence

You then get the FREE BET and that is where you make your money

Offer all done and I've made around £13 odd for a few minutes work...

 

[iwanttoberich]

My horse won his race! My Coral account now says cash balance £66.68. It is all so nerve wracking. I guess it gets easier with experience.

 

[Jon]

My horse won his race! My Coral account now says cash balance £66.68. It is all so nerve wracking. I guess it gets easier with experience.

Remember we don't care of the horse wins or loses we we make money no matter what the outcome! (hence it being Risk Free!)

 

[iwanttoberich]

I know the outcome doesn't matter. It is just nice to know that I picked a winner on my first bet.

One more question. Sorry if it is a silly one. After I start paying the monthly/yearly fee how do I know which bookie to make the lay bets with? Are the offers attached to specific exchanges or is there a list of exchanges somewhere?

 

[Jon]

I know the outcome doesn't matter. It is just nice to know that I picked a winner on my first bet.

One more question. Sorry if it is a silly one. After I start paying the monthly/yearly fee how do I know which bookie to make the lay bets with? Are the offers attached to specific exchanges or is there a list of exchanges somewhere?

You can basically place lay bets with betfair exchanges or smarkets as tbey are the most we known exchanges

PA will guide you each and every offer anyway, there's about £1000 in sign up offers alone let alone before you get to the daily reload offers where you use your excising bookie accounts to makeover more money

 

[RickyRaj]

PA is one of the better ones to start off with if you need a guiding hand.