im in way over my head with betting! help!

redsquirrel80

Yes, everyone should be careful with betting but I don't think DJ is saying they've got a gambling problem, just that they've tried this out for the cashback and got a bit confused. A few of us have suggested ways that they can sort this out and still get their cashback OK without risking too much money.

Rage_in_Eden

Go to the loophole thread and then promise us that you will never go near that site again

hypno06

redsquirrel80 wrote: »

No, Quidco probably won't give you the £30 if you don't bet the whole £10. Personally I would deposit another £10 (as far as I can remember that's the minimum deposit at a time on Betfair) then bet £2 on something (pretty sure minimum bet is £2), so your total bet would then be £11.50. You could then withdraw the remaining £8.50 to your card - just because you've deposited another £10 doesn't mean you have to bet it all. And then if you win your bets you can withdraw any winnings. And if you don't win you'll still be £18.50 up with the cashback (though do remember that cashback is never guaranteed!!)

Hope that makes sense!

This is the advice that I personally would follow - add £10 but don't bet the full amount - just bet what you need in order to qualify for the cash back - then withdraw the rest as cash.

Should be absolutely fine. This is not about a gambling problem - it is about quidco cash.

southernscouser

Woah stop right there! :eek:

OK we need to know exactly what you have done.

Now when you were betting, did you click on the blue box or the pink box. Do not whatever you do place any more bets. By clicking the pink box you are 'laying' bets. This means you are acting as the bookie. By doing this on short odds as suggested you are very likely to be left with the liability of paying someone else winnings if the bet wins.

Log in to Betfair, then click on my account (near the top left). A new window will open with different menus down the left. Click on current bets. Copy here what it says under the different menus, ie matched etc. Some won't say anything.

Personally I think you are better wiping off that tenner! :undecided

tomstickland

Get onto the gambling loopholes forum and it can probably be sorted out.

If you're backing you can only match the available funds or offer funds.
If you're laying you need enough funds to cover your liabilities.

You can lock a profit into this regardless of whether you win or lose.

tomstickland

stapeley wrote: »

I would just forget the whole thing and cancel the account now ! That is before you start losing more and more money like 99% of punters do .

A disciplined bonus bagger can make a reasonable profit from offers like this. The key is to never "mug punt" ie: gamble.