Cheltenham floats

Just wondering what people’s floats are looking like in prep for Cheltenham? I can see a huge amount of funds getting tied up in bookies and unable to get back to exchanges in time.

I have topped up my matched betting current account to £5k (from savings). Betfair and Smarkets have around £1k in each. Most of my big bookie accounts (B365/Sky/Hills) have several hundred in each.

I’m still thinking that I’m going to run out of funds laying all these long odds nags.

How are others’ plans going?

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Starlord
1

March 11, 2016 at 9:24 am

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RyanB 14 March 11, 2016 at 9:50 am

I’d be surprised if you ran out using 5k…not sure what odds you plan on betting on!!

I reckon as long as you have 2k+ in an exchange you should be sorted, lets be honest after each race you get it back the money back straight away etc, and you’d be very unlucky (or lucky) to keep winning on every horse you pick which reduces your exchange to nothing..

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Starlord 1 March 11, 2016 at 11:08 am

Yeah, that’s true. I’m planning on doing some morning rounds of the local bookies too, which will potentially mean money tied up for even longer.

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Traider 0 March 11, 2016 at 11:34 am

I think you’ll be fine with what you’ve got.
Some bets will win, some will lose.
I guess a lot depends on how much you’re staking every race.

If you are worried, and assuming you’ve got a decent credit rating, you could do a money transfer from your credit card.

e.g. MBNA offer me up to £5k money transfer for a 6.9% Apr over the life of the balance (with no transfer fee).

If I took that out, and paid the full amount back within five days, I would pay minimal interest that SHOULD be easily covered by my winnings.

You have way more savings than me though, so I wouldn’t worry!

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username 0 March 11, 2016 at 4:09 pm

I’m just hoping I can gather enough to do the sky and ladbrokes first race of the day offers, nevermind the exchange side (not got close to £1000 in there)

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simon2000 2 March 11, 2016 at 5:28 pm

If you chose different horses for then the exchange liability will be lower than multiple bookie backs being laid on the same horse

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username 0 March 11, 2016 at 7:49 pm

good thing to bear in mind, thanks simon.

going through my rarely used bookies now withdrawing whatever I can and hoping it goes through in time. I know it’s commonly thought to be a gub-instigator but I’ve been doing it for almost a year now and only gubbed by a few minor bookies (and paddy)

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