Newbie and a question...
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HI, I joined BTC yesterday and I am so pleased to have found the community. Especially coming from a matched betting background. It's good to know that there are people willing to help with the next steps after matched betting.
I wondered if anyone could help explain this to me so I have a better understanding of the process?
I took advantage of the tips that came through yesterday to take the Lay To Draw on the two matches recommended and laid the draw on the Spanish match and the Watford v West Ham match. Luckily both matches had winners and no draws. So, after placing two Lay bets on both matches and, (I think) following the guidelines on the steps to take, I am puzzled on why on the West Ham V Watford match, which I excited around the 70 minutes mark, that I suffered a loss?
Maybe I'm looking at this as a gambler (which I'm not) and not as a trader but I'd like to know the reasoning so I'm better equipped next time.
With the Spanish match I was able to get out and take £4.00 less 0.20 BF commission, yet with West Ham v Watford, which always showed a red amount in Bet Trader there were the following changes/credits on my BG statement totalling -£1.66 in the end.
21:54 205683405965 2020-07-17
21:27 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Lay 17.50 0.34 Won 0.34 78.7721:54 205632985427 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Back 3.00 2.00 Lost (2.00) 78.4321:54 205632985424 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Back 3.00 2.00 Lost (2.00) 80.4321:54 205632985126 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Lay 3.00 2.00 Won 2.00 82.43
The entry on my BF statement for the Spanish match was:
21:55 205629002379 2020-07-17
15:18 Fixtures 17 Jul / Huesca v Numancia/ Match Odds
Commission of 5% on Net Winnings of GBP4 - - - (0.20) 82.5721:55 205629002379 2020-07-17
15:18 Fixtures 17 Jul / Huesca v Numancia/ Match Odds / The Draw
Lay 4.10 4.00 Won 4.00 82.77
I just need to get me head around the difference and the explanation before I do it again.
I hope this all makes sense?
Colin
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Martin, I've been using Bet Angel but on Bet Trader which would be "Lay The Draw"?
Would it be "Draw no bet"?
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Thanks very much Martin. I'll try again today.
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@colin-maddocks looks like you backed the draw at 3.0 here. easy mistake to make, as your lay was at 17.50 that confirms it.
so by reading the above you placed £2 twice (so £4 total) on the draw (odds 3.0) at 16.01pm. you layed £2 once at 16.01pm. So you effectively had a £2 back of the draw at 3.0. Then at 21.27pm you layed the draw for 0.34p at odds of 17.50. Hence the loss when it should have been a win.
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@colin-maddocks said in Newbie and a question...:
HI, I joined BTC yesterday and I am so pleased to have found the community. Especially coming from a matched betting background. It's good to know that there are people willing to help with the next steps after matched betting.
I wondered if anyone could help explain this to me so I have a better understanding of the process?
I took advantage of the tips that came through yesterday to take the Lay To Draw on the two matches recommended and laid the draw on the Spanish match and the Watford v West Ham match. Luckily both matches had winners and no draws. So, after placing two Lay bets on both matches and, (I think) following the guidelines on the steps to take, I am puzzled on why on the West Ham V Watford match, which I excited around the 70 minutes mark, that I suffered a loss?
Maybe I'm looking at this as a gambler (which I'm not) and not as a trader but I'd like to know the reasoning so I'm better equipped next time.
With the Spanish match I was able to get out and take £4.00 less 0.20 BF commission, yet with West Ham v Watford, which always showed a red amount in Bet Trader there were the following changes/credits on my BG statement totalling -£1.66 in the end.
21:54 205683405965 2020-07-17
21:27 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Lay 17.50 0.34 Won 0.34 78.7721:54 205632985427 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Back 3.00 2.00 Lost (2.00) 78.4321:54 205632985424 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Back 3.00 2.00 Lost (2.00) 80.4321:54 205632985126 2020-07-17
16:01 Fixtures 17 Jul / West Ham v Watford/ Match Odds / The Draw
Lay 3.00 2.00 Won 2.00 82.43
The entry on my BF statement for the Spanish match was:
21:55 205629002379 2020-07-17
15:18 Fixtures 17 Jul / Huesca v Numancia/ Match Odds
Commission of 5% on Net Winnings of GBP4 - - - (0.20) 82.5721:55 205629002379 2020-07-17
15:18 Fixtures 17 Jul / Huesca v Numancia/ Match Odds / The Draw
Lay 4.10 4.00 Won 4.00 82.77
I just need to get me head around the difference and the explanation before I do it again.
I hope this all makes sense?
Colin
First off knock your commission down to 2% on winnings choose the basic plan here: https://myaccount.betfair.com/rewards/my-rewards
