LifeBegins' MFW matched betting diary

Tim_L

Just as a point of information, if you've laid already at Betfair, you can usually cancel the bet by betting (rebacking) at Betfair for a similar price.

So if you laid (for example) £5 at 3.2, by backing a smidge over £5 at 3.1 (blue side), you effectively cancel out the lay. The actual amount you back is the lay stake * lay odds / back odds, so it would be about £5.16 in this case. You'd lose a smidge, but better than losing a lot.

In running betting can result in carnage as it is fast moving. To be honest, I'd just have bet on a nearly finished match at short odds, say 1.03 for the challenge and laid at Betdaq. And £3 is a small price to pay for the experience, it will come in handy one day. If you do !!!! up, always get something positive out of it.

lifebegins

Excellent point Tim, I'll remember that!
Coral seemed to suspend the market a good couple of minutes before Betfair, so I would have had time to do that.

I'm assuming that backing and laying the same bet at the same time at BF doesn't flag anything up on their system, as bonus baggers for example?

Does that mean there is no problem me doing that to fulfil the last criterion of the BF challenge i.e. backing a bet (and I could lay at BF at the same time?).

Daft_Pegasus

Backing and laying the same bet on Betfair will not flag up as unusual - a lot of Betfair professionals do it. If you can back something at say 10 and then lay it at 8 you are guarenteed a profit whatever the outcome, so lots of people will back and lay the same result.

Tim_L

I wouldn't back and lay at betfair for the challenge personally, I'd use Betdaq to lay. It's possible the t&c say that you can't back and lay on the same market for the challenge.

Incidentally are you sure your in-running bet was in-running? Why did Corals suspend?