Simple advice

  • If the calculator states your loss is 0.19 pence, for a qualifying bet then I understand that’s ok to get the free bets but I wondered if you count as a loss the £5 you initially paid at the bookmaker and the initial money you paid into the exchange?

    Also when you place your free bets, do you count what you need to put into the exchange as a loss?

    Apologies if these are silly questions!!

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    Burger Me 1

    When you win a bet your stake is returned – e.g. if your bet was at odds of 1.8, then the 1 is your original stake and the 0.8 is your profit. When you see odds in decimal form, they won’t go below 1.

    When you matched bet, your profit at the bookie/exchange covers what you lose at the exchange/bookie, less your qualifying loss – the purpose of matching the bet is to make it so you take the same loss whether the bet wins or loses.

    So, as an example, if you bet £10 on something at odds of 1.8 and lay it at odds of 1.85 (at smarkets), then the calculator will tell you to lay £9.84. If the back bet wins then you get your stake plus an extra £8 returned at the bookie, but you will lose your lay liability of £8.36 at the exchange. If the back bet loses then the bookie keeps your £10, but the exchange returns £9.84 less the commission charge, which is £9.64, along with the £8.36 you put up as your liability. In either case, you make a net loss of 36p.

    Free bets work in a similar way, except you don’t lose any money from the bookie if your back bet loses.

    Hope that makes it clear!

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