Results of first matched bet and first free bet. Need help understanding.

[Zenny]

Hi everyone,

Apologies in advance if I have posted this in the wrong section, I've looked at the match betting thread but I'm finding all the info a bit confusing and overwhelming.

I placed my first matched bet to qualify for a free £20 bet on Sun. It was for Japan v Bosnia It was purely to qualify for the £20 free bet from coral and I knew I would make a small loss.

So I then used the free bet on the Denmark v Bulgaria to draw because it was the only odds available at that time. I just checked and I can't work out if I've made a profit or if I've just kept the money I staked plus my liability. My coral account is showing as pending on Japan v Bosnia match.

My bet fair account is showing as £54.99 and my coral as £0.

I staked £12.64 on the Denmark game with liability of £42.98 with odds of 4.4 and it was a lay bet.

I can't make sense of it at all. Ive tried to upload pics but I'm on my phone so I keep getting an error message.

Any help deciphering, feeling really thick!

 

[Rs20033]

[member=3891]Zenny[/member] I'll just reply while we wait for someone who knows what they are on about to come along!

What I would do personally is wait for the Japan v Bosnia game to finish (about 1:30 I think), wait for the winnings to be credited , add up your balances in Coral and Betfair, deduct what you deposited to begin with, and there's your profit. From what you've put, it sounds right. I won't try to go into more detail or I'll confuse both of us!

It is confusing at first, and if I didn't use a spreadsheet to track profit, I would still be confused now (sometimes I still am!)

The best spreadsheets are:

Ultimatcher - http://blog.themoneyshed.co.uk/ultimatcher-beginners-guide/

Match & Go ( [member=143]auntygeek[/member] 's spreadsheet - this is what I use) http://matchandgo.co.uk/

If you want some peace of mind before the Japan game finishes, I would suggest downloading Match & Go, entering in all your data, then playing around with the results so you can see what your profit will be with either result. I would also download Ultimatcher so you can see which you prefer (I kept breaking Ultimatcher so I'm a bit biased!)

if you get stuck give me a shout

 

[Zenny]

Thank you so much for replying.

I've just checked both accounts. Coral is showing a balance of £0 and betfair is now showing a balance of £62.64.

I started with a bank of £60. Deposited

£5 in coral
£5 in betfair for lay bet(Japan v Bosnia)

Then used £20 free bets to place my bet on Denmark match.

Deposited

£41.17 in betfair for lay bet

Total own cash used so far: £51.17
Leaving me with £8.83 in my bank.

£8.83 in my bank + £62.64 in Betfair=£71.47.

£71.47 in total - £51.17 of money used= £11.47 profit.

Is that correct do you think? I've made £11.47?

I can't download the spreadsheets as I don't have excel, are there any that work on free open source suits such as libre or equivalent?

Many thanks again.

 

[Falanouc]

Easier to exclude what's in your bank.

Money out:
Coral = £5
Betfair = £5
Betfair = £41.17

Money in:
£62.64

Total profit = £62.64-£51.17 = £11.47 profit. Well done

 

[Zenny]

Yay! Just have to wait for the betfair money to reach my bank before I move onto the next free bet. I'm terrible with numbers and also have an overly cautious nature so I was driving myself nuts trying to work it out. Thanks for simplifying it for me.

 

[Uhhhhh]

It'll be worth buying Excel or some other piece of software so you can track your bets easily. Trust me, it'll be worth it in the longrun.

For example, at the moment I have 13 bets open for this afternoon and a further 5 open for the Euros (so far) so it's key to keep on track!

 

[Zenny]

[member=2431]Uhhhhh[/member] Ive been looking but just dont have the cash right now. I will keep a look out for any good deals, just going to keep a note of what I put in a what I make for now though.