MBNA £50 charge plus extras?

grumbler

If the bet lost you would have lost 1000+50=1050.
It won and you have got 1181+9=1190.
I.e. you risked 1050 to win 1190.
As a result of the cash advance fee, the actual odds of this gambling operation was 1190/1050=1.1333 - much worse (shorter) than b365's odds.
The interest has to be deducted from the winnings that makes the true odds even worse.

jumperabv3

grumbler wrote: »

I.e. you risked 1050 to win 1190.

Yes, I didn't say what you say is wrong, but there is a way around it.

What a normal "gambler" would do will be using Moneybookers to make the deposit - this way if he loses the bet - he would simply deposit from his bank account another £1000 to Moneybookers, then WITHDRAW the funds back to the card (£2 fee if there is no VIP status) - and then the withdrawal would be considered as REFUND ... this way you have NO RISK whatsoever, so the £50 cash advance fee shouldn't be factored as a risk !!! You risk exactly £1,000 to win £1,190 (where the true odds are set to win £1,180!)

Alternatively, you can also deposit into Bet365 both with Moneybookers and the card and then (if you lose) deposit extra £1,000 using Moneybookers, bet on 1.001 event and withdraw the funds to your card and then the £50 will be waived again but you have the risk of losing the 1.001 bet and you are forced here to actually bet before you can withdraw (although I'm not sure about Bet365's policy of depositing and withdrawing without placing any bets, I know Moneybookers have no issues with it, and I've tested it myself and it worked).

Do you understand what I mean?
You realize now the £50 should not be added to the amount as you suggested?

You really have nothing to lose and more to gain if you work it out like this!

grumbler wrote: »

The interest has to be deducted from the winnings that makes the true odds even worse.

Yes, if you read post #11 that I posted above, you can see that in my case the calculation shows that the bonus I received on the winnings was not 5% but 3.8% instead.

If someone wins £600 then it would probably be 4.8% which is still very generous.

jumperabv3

bsqnellsxde wrote: »

The cash advance fee is standard on gambling.

You're repeating post #2. What's the point ....? :eek: