Single and in Debt Part II

Dan29

makeup wrote: »

Here are my MB questions:
1) It seems like it is a bit complicated to sign up for betting sites, do you have to send off copies of documents and things to them for this? How long does it take to get signed up? If I work it all out today - when can I realistically start for real?

You have to have documents ready just in case, but with most major UK betting sites you just sign up, deposit and place your bet, straight away. In fact it's best to do this if you're hoping for Quidco cashback.

So you could place your first bet tonight if you wanted.

makeup wrote: »

2) With betfair you just have to have the risk part in your account - ie the bit the other person would win rather than the bit they would win plus the value of their stake?

Yes. The higher the lay odds are, and the bigger your bet at the bookie, the more you need in Betfair. Also, if you are doing several offers at once, you will need more in Betfair.

A crucial point that I've forgotten to mention is that until you've made at least £1,000 or so - which will probably take 2 or 3 months - it's much better if you can leave all your profits in Betfair, in order to be able to place bets at higher odds. If, every time you make £50, you buy a pair of shoes with it then it limits your ability to do the bigger offers, or to lay bets at higher odds which is necessary for SNR free bets.

makeup wrote: »

3) My understanding is that you are looking for back and lay odds as close as possible so really that doesn't matter if you are looking at a match several hours before kick off or just a few minutes before. And probably it is best dto do a few hours before in case I make a mistake and need to rectify it??

Precisely. Never bet within the last few minutes before a match starts. Always place the back bet at the bookie first, and the lay at Betfair 2nd, as it's easier to correct mistakes that way round.

Equally, no point betting on a match that's 5 days away as your money will be tied up for all that time.

Close odds good. Equal odds better. Lower odds at Betfair than the bookie is the best, but if the odds seem too good to be true (e.g. 5 at the bookie, 1.5 at Betfair) then either the bookie has made a mistake, or you have.

SunderlandBlackCat

Evening all

What's everyones plans for the evening?

I'll be watching the footie (surprise surprise) & to round off the evening I've ordered:

Pickles & Poppadoms, Onion Bahji, Chicken Vindaloo, Vegetable Pilau & Keema Naan (yes I'm a pig)

& as I've managed to get my on call covered, Kingfisher to wash it all down. :beer:

Shoe_Gal

mmmmmmmmm........... sounds lush

I have a korma in the microwave - only Co-op not takeaway unfortunatley - and then double Corrie for me :j

SunderlandBlackCat

Dan29 wrote: »

ok my spreadsheet says this. Is something different in yours? I know it's only 1p different but I can't work out why :think: :

Free Stake ………. £10.00 ………. Stake forfeit ………. £0.00

Back Odds ………. 1.728 ………. Back Commission ……….0 ………. Back Return ……….£17.28

Lay Odds …….....….1.83 ………. Lay Commission % ……….5 ……….Lay Risk ……….£8.06
…................................................................................................……. betfair balance must exceed this


Back Profit ……….£9.22 ………. Lay Profit ……….£9.22

Lay Stake ………. £9.71
…................…….type this into betfair - there must be at least this amount being bet by people for the bet to be matched

PROFIT ……….-£0.78 ………. PROFIT ……….-£0.78

It's just a rounding up thing. Nothing to worry about

gwen80

Shoe_Gal wrote: »

mmmmmmmmm........... sounds lush

I have a korma in the microwave - only Co-op not takeaway unfortunatley - and then double Corrie for me :j

Now I really want a curry...

Shoe_Gal

gwen80 wrote: »

Now I really want a curry...

:rotfl::rotfl::rotfl::rotfl:fancy seeing you here

gwen80

I know, the talk of curry lured me in . I shouldn't really get a takeaway, but it's very tempting now. Nope, I'm gonna have to make do with pasta. Bl00dy money ruining everything :rolleyes:.

Shoe_Gal

gwen80 wrote: »

I know, the talk of curry lured me in . I shouldn't really get a takeaway, but it's very tempting now. Nope, I'm gonna have to make do with pasta. Bl00dy money ruining everything :rolleyes:.

Were we happier when we lived as if we had unlimited funds

gwen80

Well possibly not, but I'd quite like a curry. Hey ho. I'll imagine boring pasta is curry.

SunderlandBlackCat

In my defence its my 1st treat in over a week.