Buffy, LouJ and gang's road to ritches (or just for a bit extra dosh)

jobbingmusician

OK, here's another MBer weighing in to confuse things (some of us are helpful)

I posted this on the newbie thread of the MB board, but it was really written specially for you lot. (Actually because I got 2 usernames confused )

A very very simple introduction to MB with no maths at all.

People have always been able to bet on things happening - it seems to be human nature. And sometimes it is useful to bet AGAINST things happening - for example, if you bet against the day of your big outdoor event being a sunny one, one of two things will happen

1. You will get a nice sunny day for your wedding/fete/picnic
2. You will get another sort of day, but will win your 'against' bet, so will have some money to cheer you up.

This could be regarded as a neutral outcome. The problem with betting against a sunny day is that it's usually terribly expensive to do! And we all know, don't we, that in betting generally the only real winner is the bookie.....

However, with the advent of the internet someone had a great idea. Supposing they set up a site where ordinary members of the public could become 'bookies' for other people? This is what a lay exchange is. When you place a lay bet, you are offering a bet at those odds to someone else. MR LAYPUNTER takes up your offer and the lay bet is matched. If you win at the exchange, all you win is MR LAYPUNTER's money. It doesn't affect what you WIN at the exchange whatever the odds are, you still just pocket MR LAYPUNTER's money.

If you LOSE at the exchange, however, you pay out MR LAYPUNTER's money times the old-fashioned, fractional odds. Old-fashioned, fractional odds are decimal odds minus one.

The clever matcher spreadsheet works all this out for you. All you have to do is

Find nice close odds at the bookie and exchange
Put the figures into the matcher spreadsheet (when you get to your free bets, remember to include whether the free bet is returned with your winnings - that is, whether it is SR or SNR)
Make sure your lay bet is for the amount the spreadsheet tells you to bet. (This will be the amount you win at the lay exchange if your bet wins there, except that Betfair will take 5% off as commission - the spreadsheet works this out for you as well )

The purpose of the spreadsheet is to make sure that whether you win at the bookie or exchange, you will come away with the same amount of money. The amount of money you come away with should be 95% upwards of your paid for stake (so qualifying bets are losing you a bit of money, normally) or 80% upwards of your free bet - the bit you are interested in, obviously.

Now I know all this has been said before, many times, but I also know that the way I learn is to have things hammered home MANY TIMES in different ways - just looking at the story from a slightly different point of view is sometimes the breakthrough!

LouiseJ

Well I have my free £25 from Jaxx but I am struggling to find a good match around 7 odds, cant see any over 5.5 on the freebets help sites which seem to only show football anyway.

5.5 would only release about £18...........not good enough.

I will continue my search today:D

Buffythedebtslayer

I have nearly placed a bet.

scary stuff.

Buffythedebtslayer

Haven't done it yet. People on the gambling forum have been really helpful.

I am very grateful. thank God for kindness xxxxx

Buffythedebtslayer

Some one help me !

What does it mean by three way bet? (on Jaxx)

LouiseJ

Buffythedebtslayer wrote: »

Some one help me !

What does it mean by three way bet? (on Jaxx)

It means just a win/lose/draw match Buffy

Like Liverpool will either A. Win B. Lose so the other team wins or C. Draw.......cause there are loads of different bets you can put on the footie.

So you pick one of the 3 outcomes, I did a bet on Jaxx that it would be a draw as that was the closest odds in Betfair.

Buffythedebtslayer

Cleverly jaxx has decided not to cooperate and seems to be stuck at the payment page.

I figured it meant win lose or draw, just not entirely sure which one I picked.
I clicked on Aston Villa - which I assumed meant I wanted them to win and am going to lay them not to win at betfair.

God I haven't felt this stupid since high school

Buffythedebtslayer

Ok, I am guessing that since under 3 way - it says Aston Villa I am doing the right thing.

I have done anything final yet.

LouiseJ

Buffythedebtslayer wrote: »

Ok, I am guessing that since under 3 way - it says Aston Villa I am doing the right thing.

I have done anything final yet.

Is it the Aston Villa/West Ham Buffy?

I am looking at Jaxx now and it has Aston Villa then the Odds 1.65........then a X with the odds (for a draw).........then West Ham.

To bet on Aston Vill you click on the team name and it should show up on your betting slip on the top right of the screen.

It is a bit scary though the first time:o

Buffythedebtslayer

Thanks Lou, it better get less stressful!

so in theory

you click on the team to win
or the X to draw.

good cos I clicked on the team (Aston Villa)

right i will go do that NOW.

xxx