Betting

sorn21

sorn21

sorn21

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This is something that I've never really done before, but my flatmate just had a massive windfall this week and I'm tempted to try it out.

Looking at one website they give odds as follows;

Roma v Lecce H 1.36 D 4.50 A 9.00

So what's the issue with placing two bets here;

[email protected] = £9
[email protected] = £9

So if Roma win, I'd have £9 profit, minus £1 = £8
If Lecce win, profit would be £9 - £6.60 = £2.40

Obviously this doesn't take into consideration a draw, in which I'd lose everything, but even if I factored that in, the worst I could do would be up £0.40??

????
Profit :p
 
I don't understand what you mean by the worst being £0.40 up. If it's a draw you would be £7.60 down.

edit: oh I see what you've done. Decimal odds are calculated as returns, not profit. So the draw being 4.5 isn't 4.5/1 it's actually 7/2.

If you put 6.60 @ 1.36 you get £9 back (including your stake) not £9 profit.
 
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You can never back all 3 results of a football game and be up ;)

If roma win you get £8, if leece win you get £2.40, but to put both bets on you are spending £7.60....
 
You're trying to arb, but failing.

Trying to arb with those odds would give this result: (the amounts don't matter, thery can be halved/doubled whatever, just started with 100)

£100.00 @ 1.36
£30.22 @ 4.50
£15.11 @ 9

Odds would match together like so, and you would get 136 back out, whatever the result.

However you're spending 145.33 to put all three bets on, so make a loss of 6.42%.

If you want to bet like you said, go on betfair and lay results.
 
I read something on here about Matched Betting, but that required signing up to sites offering a free bet, maybe I'll stick to that :p

There's a way... I just need to find it! haha
 
thepeganator said:
You're trying to arb, but failing.

Trying to arb with those odds would give this result: (the amounts don't matter, thery can be halved/doubled whatever, just started with 100)

£100.00 @ 1.36
£30.22 @ 4.50
£15.11 @ 9

Odds would match together like so, and you would get 136 back out, whatever the result.

However you're spending 145.33 to put all three bets on, so make a loss of 6.42%.

If you want to bet like you said, go on betfair and lay results.
Click to expand...

Ah this is interesting, so if I used a secondary betting site, I could possibly arb?

Yep, I just noticed I'd lose 62p if I bet on all to match the £9 :(
 
thepeganator said:
Matched betting works, I used to do it, not sure why I'm not anymore tbh, make £300 ish over the summer for very little work.

Sites I used:
http://www.freebets4all.com/matcher.aspx
http://bet72.com/oddsmatcher/
http://www.betfair.com
Click to expand...


Ah thanks for that, I'll have a look at them. :)
I've laid down 7 bucks so will see how it goes, they will probably draw! haha

£300 is not bad! how much time do you reckon it took you? Can't you only use the site once you've got your £5 bet, or do you then place bets using the "free money" to create a larger bonus?
 
G18241 said:
You can never back all 3 results of a football game and be up ;)

If roma win you get £8, if leece win you get £2.40, but to put both bets on you are spending £7.60....
Click to expand...

Pretty much this - unless the bookie has made an error (which will likely void the bet) or is retarded.

Might get an opportunity using more than one bookie/exchange though football is generally a fairly liquid market so any opportunities will likely only give you a small edge. You'll tend to need reasonable funds to arb regularly and make a decent income from it. Also some of the more attractive potential arbs might involve foreign (small and dubious) bookies - counterparty risk is also a factor. You need to put down a decent amount to make it worth doing in the first place (you're only looking to get a very small %) and then one dodgy bookie voiding a winning bet can eat up the profits of the past 100 or so arbs you placed.
 
dowie said:
Pretty much this - unless the bookie has made an error (which will likely void the bet) or is retarded.

Might get an opportunity using more than one bookie/exchange though football is generally a fairly liquid market so any opportunities will likely only give you a small edge. You'll tend to need reasonable funds to arb regularly and make a decent income from it. Also some of the more attractive potential arbs might involve foreign (small and dubious) bookies - counterparty risk is also a factor. You need to put down a decent amount to make it worth doing in the first place (you're only looking to get a very small %) and then one dodgy bookie voiding a winning bet can eat up the profits of the past 100 or so arbs you placed.
Click to expand...

Managed a bookies for 3 years so have seen every attempt of beating the system...you cant :p

Although one of my cashiers once wrote the incorrect bets up on a specials board, one guy realised and but the bet on, unfortunatly we had to lay the bet at the price shown, which was when Man Utd played some conference team a few years ago in the cup...and they drew...i dont think i have ever been so happy at work when that result came in :p
 
n1blo said:
Ah this is interesting, so if I used a secondary betting site, I could possibly arb?

Yep, I just noticed I'd lose 62p if I bet on all to match the £9 :(
Click to expand...

You will never be able to arb on the same site, using different sites is possible, but unlikely nowadays, odds change so fast that it just doesn't happen any more.
6 or 7 years ago people were making a killing!

n1blo said:
Ah thanks for that, I'll have a look at them. :)
I've laid down 7 bucks so will see how it goes, they will probably draw! haha

£300 is not bad! how much time do you reckon it took you? Can't you only use the site once you've got your £5 bet, or do you then place bets using the "free money" to create a larger bonus?
Click to expand...

I did half hour a day like 4 days a week for a month and a half.

Didn't have much money to put in tbh, started with £50 and used that to build up. Would have starved over the summer without matched betting, it literally saved me.

The aim is to use the free bets to make money.
Say site A is saying "bet £25 get £25 free bet", you make the smallest loss possible on the first (qualifying) bet, say £2, by matching the bet on an exchange (like betfair). You need to find similar odds, hence where the comparison sites I linked come in use.
You then do the same on the free bet. You may lose £4 or so, but are also up £25, so make a profit.

You then move onto site B and repeat.

Sometimes you get "stake non returned" free bets, which you make less money on as you don't get the free bet back. So if you bet £10 at odds of 5 you only get the winnings back (£40 instead of £50 on a normal bet).
Still well worth it, just use higher odds to minimise the loss.
 
G18241 said:
Managed a bookies for 3 years so have seen every attempt of beating the system...you cant :p

Although one of my cashiers once wrote the incorrect bets up on a specials board, one guy realised and but the bet on, unfortunatly we had to lay the bet at the price shown, which was when Man Utd played some conference team a few years ago in the cup...and they drew...i dont think i have ever been so happy at work when that result came in :p
Click to expand...

Why didn't you just over-rule the price? If a price is wrong, it's wrong. The customer can have what the price really is or not at all - their call. You don't have to take the bet. You're only strictly supposed to honour the price once it's been struck and money has changed hands. It's exactly why I don't like people writing down the odds themselves.

Incidently, what was the actual price and what was written up?
 
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Nix said:
Why didn't you just over-rule the price? If a price is wrong, it's wrong. The customer can have what the price really is or not at all - their call. You don't have to take the bet. You're only strictly supposed to honour the price once it's been struck and money has changed hands. It's exactly why I don't like people writing down the odds themselves.

Incidently, what was the actual price and what was written up?
Click to expand...

Nope shop rules were that any price written on a board or advertised anywhere were to be laid, it was an independant bookies so we used to "create" bets and round prices up to get custom over the big 4

The bet was for Man utd to win the match, i cant remember who it was but it was definatly a conference team...man utd were 1/100 to win...my cashier had written 100/1...luckily the guy only had like 50p on it and it was very quickly changed, either way they drew :p
 
What would you have done if your cashier accepted a few k @100's? Gone bankrupt if they won?

1/100 is also a terrible price for any football match.
 
gambitt said:
What would you have done if your cashier accepted a few k @100's? Gone bankrupt if they won?

1/100 is also a terrible price for any football match.
Click to expand...

Cried palp and not paid out, it's the bookies get out of jail free card ;)

Indeed, I've seen such odds beaten in football a few times - Man United at home to Exeter in the FA Cup (1/33), Switzerland at home to Luxembourg (lost 2-0, 1/50 :eek:), Man United away at Burton Albion in the FA Cup (1/16).. doesn't happen often but you're going to get burnt big time backing those odds.
 
gambitt said:
What would you have done if your cashier accepted a few k @100's? Gone bankrupt if they won?

1/100 is also a terrible price for any football match.
Click to expand...

All bookies have a limit where you have to get the bet Ok'd by security, dependant on the returns or stake, so wouldnt have happened luckily :p

You cant just take any bets, and it may depend on the customer as well
 
el_dazza said:
Indeed, I've seen such odds beaten in football a few times - Man United at home to Exeter in the FA Cup (1/33), Switzerland at home to Luxembourg (lost 2-0, 1/50 :eek:), Man United away at Burton Albion in the FA Cup (1/16).. doesn't happen often but you're going to get burnt big time backing those odds.
Click to expand...

I've seen those odds, never seen 1/100 though...
 
gambitt said:
I've seen those odds, never seen 1/100 though...
Click to expand...

Spain vs Andorra was 1/100, as was England vs Andorra, Germany vs San Marino (when it was 13-0 :D), don't get them often, only when it's a supremely good team such as those against the tiny countries with 56 year old strikers :p
 
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