Anybody else "not getting" matched betting?

krayzechick

oops_a_daisy wrote:

2. you place a bet on an outcome happening at the bookie and then 'lay' ( place another bet ) a bet at Betfair on that outcome NOT happening - this is different to the opposite happening. For example place a bet on a football match for team a to win then lay bet on the SAME team not to win ( this covers you for a lose or draw ) on your first bet you lose some money in commission ( which is why you look for close odds to minimise the loss )

Thats what I meant! hehhe I understand this bit.

oops_a_daisy wrote:

then you get your free bet to place using the same principle of betting the free bet and 'laying' to cover all outcomes - you end up with most of your free bet money back at either the bookie or betfair depending on the outcome. It is very difficult to explain but keep looking at it and asking questions and it will 'click'

Good luck - OOPS

This is the bit I dont understand at the moment :wall:

elantan

no you have it right the odds at both betfair and the bookies have to be pretty close

elantan

because the second time you place the bet you are using the free one at the bookies and your money at betfair so using the spreadsheets you know how much you need to place at betfair to cover the bet ...and then when the bet comes through you get most of the money back from the free bet ...just not all of it due to commission and odds

pickle18

Well my mum has promised to spend a couple of evenings teaching me once she has figured it out herself via her bookmaker friend ...there is hope for me yet!!

elantan

you will get it and it will be worth it when you do just please please keep asking questions on the forum and dont rush into it ....good luck

Sammz

pickle18 wrote:

Just spent all night reading through everything and I just don't get it I feel so stupid! Am I right in thinking that at both betfair and bookfair odds need to be pretty close to each other - if so mine are always way different for everything I have looked at! Sorry if that question is ridiculous!

Yeah, low odds should be around 0.04 apart at most. It can take days to find them with some bookies. Other times the first one you look at can be close. There is a tips thread that is very handy sometimes though.

Mrs_Sparkle

I don't think anyone gets it first time- it took me days of reading and re-reading to understand it. Once you've done the first one though it all suddenly makes sense and you wonder what on earth you found so difficult. Don't do it till you're sure you've got your sums right- post on the newbies' thread and someone will check it for you. Enjoy it- it's a brilliant way to make money and it's good fun after the first one which is nervewracking!

catewithers

i'm trying to get my head round it too - have found the gamblers board very helpful but there's something that still doesn't quite make sense to me yet!! Part of the problem is that I can't even work out which bit it is that doesn't make sense!!!

TTMCMschine

Have you all forgotten already the huge losses that some of your co matched betting compatriots suffered recently on betfair?

elantan

tt if you knew anything you would know that it had nothing to do with matched betting ..