Am i doing this right?

I am new to matched betting and want to make sure I am doing it right. If I have made a mistake or mistakes please tell me.

I have placed my first bet to get my free bet. It was a football bet. It was a £5 back bet with Coral to get my free £20 bet. The lay bet was with betfair exchange. My bet with Coral won and I got £8.75 back (£5 stake and £3.75 winnings) . Obviously my lay bet with betfair lost and I lost £4.

So that means

I started with £5 with Coral and I now have £8.75 + my £20 free bet. I now have £28.75 in my account.

I started with £10 with betfair and I now have £6

That means I now have to do my free bet with Coral. I have some questions to ask before I do that

1) When I am doing the free bet odds calculator for my free bet with Coral do I choose stake not returned or stake returned?

2) What is the difference between stake returned and not returned when doing the odds calculator? Am I right in saying with my first bet with coral because I got my £5 back from my bet and my £3.75 winnings that would be classed as a bet with stake returned?

3) When doing the odds calculator does whether you choose stake not returned or stake returned depend on which bookmaker you are placing the free bet with?

4) When I place my free bet with coral do I only bet my free £20 bet I got with Coral or do I place a bet of £28.75 which is my £20 free bet with coral, my initial £5 deposit and £3.85 winnings from the first bet with Coral?

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ennogs
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February 14, 2016 at 11:26 pm

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ennogs 0 February 14, 2016 at 11:29 pm

I have another question

When using the odds calculator the default is 0% for the back commission and 5% for the lay commission. How do I know what % the back and lay comission will be? Will it always be 0% for for the back bet and always be 5% for the lay bet?

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FoG_BLoG 60 February 14, 2016 at 11:31 pm

Just bet the 20 free bet. Most free bets are stake not returned – the coral welcome bonus definitely is – so put stake not returned in the calculator.

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FoG_BLoG 60 February 14, 2016 at 11:33 pm

Back is always 0%. Lay is 5% if you use betfair and 2% if you use smarkets exchange.

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ennogs 0 February 14, 2016 at 11:39 pm

Another question

When you place your free bet is the free bet always a back bet?

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FoG_BLoG 60 February 14, 2016 at 11:41 pm

Yes. Free bet is always given by the bookie so you will be backing something.

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ennogs 0 February 14, 2016 at 11:59 pm

Ok I am now looking to do my free bet

I have found a football bet with

2.1 for back odds and 2.18 for the lay odds

The odds calculator gives me this information

At odds of 2.18 you could lay £19.72 Liability will be £23.27

If the Bookmaker Bet wins, your overall position will be £-1.27

If the Exchange Lay wins, your overall position will be £-1.27

I know I will be placing my free £20 Coral bet on the back bet with odds of 2.1. How much do place on my on my lay bet? Is it £19.72 or £23.27?

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FoG_BLoG 60 February 15, 2016 at 12:14 am

19.72.

You should read the guides they are very step by step and you would get your answers quicker than waiting for a reply on the forum.

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FoG_BLoG 60 February 15, 2016 at 12:17 am

Wait a minute. Did you click the free bet button. Your position shouldn’t be minus off a free bet,,

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FoG_BLoG 60 February 15, 2016 at 12:21 am

Also that isn’t even close to 80% extraction. You will need to search for better odds and try to understand better what you are doing!

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ennogs 0 February 15, 2016 at 12:22 am

Wow thanks for noticing. I did pick the wrong one.

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Blank 0 February 15, 2016 at 2:25 am

@ennogs you need to read up a bit more before you get stuck into this, as suggested the guides on this site are really straight forward.
Matched betting done properly is risk free but if you don’t know what you’re doing you can lose, and possibly quite a lot.

For starters, when doing a free bet look for a close match at odds of around 6.0-10.0, this will give the best return. With the intro offers you are free to place these wherever you want, so definitely look for at least 80% return

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Tony S 8 February 15, 2016 at 7:08 am

Another question.

Why haven’t you read the guides?

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patrick
Blocked
13 February 15, 2016 at 9:09 am

Ennogs sounds like a mug punter.
Shouldn’t get involved if you dont understand the very basics of matchedbetting.

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roly24 11 February 15, 2016 at 9:11 am

Definitely – get some serious reading done. There’s no rush to get the free bet placed but you’ll need to for for a mid range price or higher price to look at extracting 80%. Can’t stress enough to read thoroughly again.

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Pickle 62 February 15, 2016 at 9:18 am

No offence to ennogs but if anyone doesnt know that your bet is the back stake really does need to read up a lot on matched betting before jumping in with both feet. Theres people posted on here theyve lost over £500 in one go by not getting a particular bet on after they laid first. Id hate to see anyone lose that much. Feel free to ask questions but you really need to understand the basics before you start throwing bigger ammounts of money around.

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