Highest Betfair profit/loss
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Just having a look at my Betfair exchange p&l.
Over the four days of the festival I lost £5,787.61.
Can anyone top that?+1March 21, 2017 at 5:29 pm
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Bet you wish you didn’t lay!!!
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Matchedem lost 40 grand!!… all in unmarked bearer bonds
+0Tony matchedem wont like you ridiculing the self aclaimed big dog.
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self acclaimed / obvious to everyone
you are in my yard…play nice!
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The big dog definitely doesn’t pay betfairs rip offs…if you think I probably gambled 8k over each day (hence needing that in smarkets) thats 32k, 3% on that is £960 that people threw away using Betfair LOLLI. The facts here show why people see my profits as impossible…they must be using betfair?!
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In fact scrap that I got my somes wrong didn’t i it’s commission not liability…still totals a bloody lot tho! It’s cos I got put on the spot
+0It can be big commission
I intended to use betfair more in the festival because of reliability, and lots bets on same race. In the end there was so much liquidity and I backed early enough I only used betfair for some parts of Eway arbs+0
This won’t suit everyone, but I feel I should come clean. And I won’t bring it up often because it is a matched betting forum.
I used to lose 100 – 200 or so per month to smarkets consistently. So I stopped laying. I haven’t layed a bet in 2017. I’m probably €500 better off.
It’s up and down. This month I was at about break even before Cheltenham, then 300 up after. And now 691 up for the month. This is my worst month since stopping to lay which is a bit disappointing esp having chelt in the middle, but I have to put up with the lows I guess.
I understand that laying bets can reduce variance therefore allowing you to increase your stakes and ultimately give a higher return. But for me I don’t think laying a 25£ acca will give me freedom to bet bigger. 25£ is small risk to me. If it was a case where I was doing an acca across 10 shops or the same acca across 10 bookie websites then it would make sense to lay. Or if I’m going in big ew on a 50/1 shot for an ew arb. That kind of high variance bet needs to be layed or underlayed or partly layed some how.
I also understand that ppl think I’m unnecessarily reckless. But I’m quite safe to be honest. Only risking money I’ve won and if I hit a threshold then the plan is always to build back up with the risk free approach… the mortgage and kids college funds are perfectly safe.
It’s also time versus money. With acca’s particularly you save a lot of time and hassle by choosing not to lay.
It suits me, I do mostly accas and boosts. I like to have real excitement in the game. I’ve built up a big enough bank roll over last year to sustain small term losses. I’m mostly just recreational, I’m not at a level where I am betting large stakes.
It won’t suit everyone.
I know ppl like da big dog won’t be impressed with my profit figures but in the last three months I have really eased down compared to this time last year. Just a little smarter now. I’m doing about 25% of the work compared to last year for about 75% of the profit. Some of the extra profit from paying zero commission and not losing value on the spread between the back price and the lay price.
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Betfair very kindly gave me £100 back because I lost so much money on the exchange over the festival. I think (rough workings) I paid around £210 in commission over the four days (before taking into account the £100 back). I can live with that.
I have an Smarkets account but I don’t like the interface and, the occasional horror story puts me off too. Clearly I’m lacking the killer instinct of the big dog though!
Interesting Fog – my B365 account is heavily restricted so I started betting and not laying with that (after reading your post some time ago talking about doing the same), I’ve mainly bet on bad e/w races which (had I wanted to) I could immediately lay for a small profit, I haven’t placed enough bets for it to be of interest but my account is in profit since I started doing it.
When I start with ACCA’s I’ll probably go for a no-lay/minimal lay approach.
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5.5k down over the festival. Damn.
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Fog I guess the numbers are good for you and no one really has competed with the big dog on a regular basis…maybe 1 or 2 people for a couple of months but nothing long term
I actually like your method for accas and may even consider adopting it soon. I know this has been asked lots but now I have most new accounts are their any decent sites to do accas on over william hill, paddy and betway (for the free bet each week)
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Since I started MB 13 months ago I think I have only had 1 month that I was in profit at Smarkets. The past few months I’ve been consistently down £1-2k per month.
So I’ve been thinking about not laying for a while. However, I don’t think I could handle the variance both psychologically and financially.
So instead I’m going to start underlaying each bet by a small amount – 10% to begin with, and see how that goes. If I had done that over the past month I calculate that my profit would be about £200 higher.
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