Easter Saturday daily chat thread - hello?

LouiseJ

Right, off to Brothers now but will be back at 5pm:D..............to make Buffy and I rich:beer::j

Burlesque_Babe

nope.............my brain has just turned off



"In Ladbrokes find the English Barclays Premier League Football from the left menu and locate the Chelsea v Bolton match. Stake the £10 you deposited on Chelsea at odds of 1.3 - right, am fine with this - I know how to bet



Now in Betfair on the left menu go to Soccer > English Soccer > Barclays Premier League > Fixtures 11 April > Chelsea v Bolton > Match Odds. Click the PINK box stating odds of 1.29 and LAY £10.48 AGAINST Chelsea. Your liability will be £3.04. - so I deposit £10.48 into my BF account?



Thats it, all outcomes are covered. You will make an acceptable loss of £0.04 from this bet in order to obtain the £10 free bet. ok -I think

If Chelsea win you will make £3 profit in Ladbrokes to cover the £3.04 liability lost in betfair. how? How does the £3 profit get transferred to BF to cover the liability?? Is that included in the £10.48 lay bet?

• If Chelsea do not win you will make £9.96 profit in betfair (your lay stake minus 5% commission) to cover the £10 deposit lost in Ladbrokes.

Maybe I'm over analysing it, or missing a really 'in your face' step, but I just don't get this aspect.

Buffythedebtslayer

BB I don't get it either, I just thought you equalled all your bets (either outcome - well you lay one thing and back the opposite to happen)and that was equal and so you get the free bet money.

I have no idea how anyone has the patience to make thousands

sammy115

BB - it doesn't get transferred to betfair you have to withdraw the money from Ladbrokes into your bank.

the best way to do matched betting is to have a seperate bank account and have a pool of money to start with. This is because initially you will have a small outlay at betfair - in this instance of 10.48 AND £10 in ladbrokes...... if Chelsea win you lose the money in betfair of £3.04 but win your £10 in ladbrokes and £3 Your money is now in ladbrokes...

sammy115

You do make money but you have to move money around.....

Burlesque_Babe

I thought so!!! So I do transfer it back to my bank and then on to BF if I have a loss??

Well, I decided to give it a go - registered with Ladbrokes and now it won't let me click on the bloody bet and brings up a javascript error box.......I give up , I really do......

spud30

LouiseJ wrote: »

Right, off to Brothers now but will be back at 5pm:D..............to make Buffy and I rich:beer::j

erm...dont forget meeeeee

LouiseJ

Burlesque_Babe wrote: »

nope.............my brain has just turned off



"In Ladbrokes find the English Barclays Premier League Football from the left menu and locate the Chelsea v Bolton match. Stake the £10 you deposited on Chelsea at odds of 1.3 - right, am fine with this - I know how to bet



Now in Betfair on the left menu go to Soccer > English Soccer > Barclays Premier League > Fixtures 11 April > Chelsea v Bolton > Match Odds. Click the PINK box stating odds of 1.29 and LAY £10.48 AGAINST Chelsea. Your liability will be £3.04. - so I deposit £10.48 into my BF account?

This is the bit you need to get your head around I think - you deposit £4 to cover the liability only so if you loose the bet you lose £3.04 as the odds are so low on this bet. If you win you will only win £9.96 plus your £3.04 laybet which covers the £10 lost in Ladbrooks.



Thats it, all outcomes are covered. You will make an acceptable loss of £0.04 from this bet in order to obtain the £10 free bet. ok -I think

If Chelsea win you will make £3 profit in Ladbrokes to cover the £3.04 liability lost in betfair. how? How does the £3 profit get transferred to BF to cover the liability?? Is that included in the £10.48 lay bet?

• If Chelsea do not win you will make £9.96 profit in betfair (your lay stake minus 5% commission) to cover the £10 deposit lost in Ladbrokes.

Maybe I'm over analysing it, or missing a really 'in your face' step, but I just don't get this aspect.

Hope this is helping BB or am I confusing you even more:o

Right I really am going now.........and I havent forgotten you Spud.......maybe Buffy and I can set up our very own "clueless" Matched Betting debt free thread???

sammy115

Burlesque_Babe wrote: »

I thought so!!! So I do transfer it back to my bank and then on to BF if I have a loss??

Well, I decided to give it a go - registered with Ladbrokes and now it won't let me click on the bloody bet and brings up a javascript error box.......I give up , I really do......

You don't have to transfer it back to betfair - you have to deposit the money initially in betfair to cover the eventuallity of a loss....

okay £10 in ladbrokes
£10.48 into betfair you are £20.48 out of pocket

chelsea win - you lose £3.04 in betfair and have £7.44 in betfair. and £13.00 in ladbrokes. £20.44 in total loss of 4p. You can then withdraw the ladbrokes £13 if you wish.

Ladbrokes then give you a free bet of £10 (I am guessing that to get the free bet you had to stake the initial £10 - yes?) you then find another bet to match the free bet with - you then match the bet at betfair.....you may have to deposit more funds at betfair to again cover the bet. If you win at ladbrokes then your money ends up in ladbrokes if you win at betfair you end up with your money at betfair.....Your money just moves around. Eventually you should end up with about £9.00 profit.

See its small but you do win bits, it just takes patience and perserverance to get the good match on odds......when you have built up a fund you can then move on to bigger bets...

I found it easier to deal with by using a natwest online bank account purely for betting money - was easier to track and I didn't look like I had a gambling problem to my normal bank

Burlesque_Babe

so the £10.48 includes the possible loss? or not? I think I need to go on some kind of accountancy course :rotfl:

Still can't get Ladbrokes to add a bet to the slip so it's probably all a no-goer anyway..

edit - forget my first line...........I see that the £10.48 does include it...........but Ladbrokes is still not playing.....