Dragonfairy said:
I've just started matched betting and I'm confused by today's result, although it is good
For the first time I decided to do a horse race bet, it was the Ladbrokes £50 free bet offer (the free part) and I layed it off at betfair. I expected to profit about £36, but the horse won at Ladbrokes.
I've won £325 so my profit is £154.55, which is clearly brilliant. But what happened? I don't understand how I have won that much. Odds were 5 if that helps.
[member=2500]Dragonfairy[/member] What's most likely happened is that the odds have increased at Ladbrokes in the time between you placing your bet and the start of the race.
Some bookies do 'Best Odds Guaranteed' so basically if your horse starts the race at higher odds than what they were when you placed your bet, then you get those higher odds. Great when your horse wins!
If your winnings were £325 (including returned stake) and you bet the £50 then the odds must've increased to 6.5 (6.5 x £50 = £325) - if my maths is correct!
It's happened to me twice today - awesome unexpected boost to profits, isn't it! ;D ;D