IA's 'Does my bum look big in this Debt?' Diary

sammy115

You have got it right. and i think to get the decimal it the first divided by the second and times by one, although I think you can change the way the odds are shown from fractions to decimals.

Check that you have put in that the £20 is not returned to you in the spreadsheet (SNR).

In paddypower you have bet that middlesborough would win.
In betfair you lay against middlesborough winning. So you are not really looking at which team will win you are betting against the result.

If they draw middlesborough haven't won they have drawn therefore you haven't lost in betfair because you bet against them wining and they drew.

sammy115

Hope that made sense!

immoral_angeluk

so is it worth having a go with that then?

beanielou

Im lost again ~as usual!!
Good luck Sar.

immoral_angeluk

well the matched betting people said I was way off!! Oh I don't get it. ..LOL

sammy115

I can't log into betfair to look for odds, I have forgotten my log in!!!!

Gemmzie

You back at the bookie and they lay the same result at Betfair

sammy115

Everton are backed at paddypower at 1.8 and at betfair the LAY odds are 1.87 which is not a million miles away. Bet your £10 first with paddypower and you will end up losing .55p in total but you will gain your £25.50 in quidco and your free bet of £20.

Then we will look for something to spend your free bet on.

monkeymonkey_3

Hi,

the reason they would have said you were way off, is probably because you said

"so if I backed midleborough on betfair with £10 at odds of 5.3 I'd get £43 back if they won...
if I backed everton on paddypower with £30 (it said it was £20 free bet + £10 of my own) at odds of 4-5 (not sure how to make this decimal?) apparently if they won we'd get £55 back plus £25.50 from quidco...

so we'd either end up with a profit of £23 or £33 depending on who won...
is that how it works????"

you are looking here at backing one team with paddy, and backing the other team with betfair. Therefore, as you said, if it is a draw both of your bets would lose. You need to have the same team in both your bets, so you back middlesborough on paddy p, then on betfair you LAY middlesborough. This means that basically on betfair you are being the bookie and accepting someone elses bet on middlesborough. If you lay it means you are saying that you want middlesborough NOT to win (ie, to lose or draw).

So whatever happens, win lose or draw, one of your bets will be a winner.

I hope none of that sounds patronising, I didn't mean it to be. Just I know that when I first tried match betting it took me ages to get my head round it!


Monkey

immoral_angeluk

monkeymonkey wrote: »

Hi,

the reason they would have said you were way off, is probably because you said

"so if I backed midleborough on betfair with £10 at odds of 5.3 I'd get £43 back if they won...
if I backed everton on paddypower with £30 (it said it was £20 free bet + £10 of my own) at odds of 4-5 (not sure how to make this decimal?) apparently if they won we'd get £55 back plus £25.50 from quidco...

so we'd either end up with a profit of £23 or £33 depending on who won...
is that how it works????"

you are looking here at backing one team with paddy, and backing the other team with betfair. Therefore, as you said, if it is a draw both of your bets would lose. You need to have the same team in both your bets, so you back middlesborough on paddy p, then on betfair you LAY middlesborough. This means that basically on betfair you are being the bookie and accepting someone elses bet on middlesborough. If you lay it means you are saying that you want middlesborough NOT to win (ie, to lose or draw).

So whatever happens, win lose or draw, one of your bets will be a winner.

I hope none of that sounds patronising, I didn't mean it to be. Just I know that when I first tried match betting it took me ages to get my head round it!


Monkey

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