1. Forums
  2. Matched Betting

Money stuck in Racebets.com

  • I started a £50 matched bet with Racebets and Smarkets on extremely high odds on its lay: somehow the horse actually won and I didn’t realise that I needed to wager 5x times before I can withdraw (!!). What’s worse is now after just one bet Racebets have gubbed my account from making fixed-odds bets, so now I’m stuck with only SP bets – whatever that is, I don’t know if that affects how much I make or what??

    Worse thing is though, is now ALL of my money avalaible is locked onto Racebets, and I have only £2 on the exchange now. What can I do now?

    Avoid this website btw!

    +0
    tbrandleys
    0
    April 15, 2019 at 6:14 pm

  • New to matched betting?

    My Matched Betting Academy is the best place to get started. Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.

    Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.

    mike1221
    Blocked
    6 April 15, 2019 at 6:54 pm

    Do you have to turn £50 over 5 times or the amount your bet won?
    Its going to be hard for you too lay bets now if you can only take SP. SP is the horses starting price so you wont know what odds your getting till the race starts.
    Unless you got more money too use in the exchange and you want too just guess the SP you could turn it over 5 times or untill the lay bet wins. If you cant do that the only option you got is too complete the wagering requirement and hope your 5 bets win. You’ll make loads of money if you do that but too win 5 races in a row is hard and theres a good chance you’ll loose the money.

    +0
    tbrandleys 0 April 15, 2019 at 7:04 pm

    I’ll most likely borrow money from a mate to finish it off.. It’s resricting me to SP bets, they e-mailed me saying “yes, you can wager with SP bets” but yet they don’t tell you what the SP bets are until the race is finished.

    They say you need to wager 5x what your bonus was, so £250. I’ll need to borrow like £400 for a mate for a liability lmao, but I can just imagine this website telling me I need to do something else before I can withdraw or making it difficult for me.

    +0
    FoG_BLoG 60 April 15, 2019 at 7:13 pm

    You can lay on betfair at bfsp price too. Not guaranteed to be the same or close, but generally will be for odds on favs. If you’re backing/laying odds on favs, prob don’t need a huge exchange balance.

    Is there a min odds requirement for the rollover? There usually is so that would put an end to this idea.

    +1
    mike1221
    Blocked
    6 April 15, 2019 at 7:13 pm

    for your wagering requirement just use the lowest odds you can in there promotion t&c’s. Probably be like evens but have a check. Soon as youve done there wagering you can withdraw whats left then. For the starting price just use the board price. Its weird they restricted you too just using that. I havent heard of that before. Stay away from them then lol

    +0
    mike1221
    Blocked
    6 April 15, 2019 at 7:15 pm

    yeah thats good idea. just put a betfair sp bet into lay

    +0
    tbrandleys 0 April 15, 2019 at 7:41 pm

    Yeah I looked up their reviews after this and they’re all 1 star, all shocking. The lowest odds you can use is 1.5 for it, but they need to be SP bets and there’s no way of knowing what the SP bets are until the event is over (at least on that website).

    +0
    tbrandleys 0 April 15, 2019 at 7:44 pm

    I’ve never seen that before – still newish to this, how do I find Betfair SP’s? The SP rate doesn’t say what it is on Racebets, so is it different with betfair?

    +0
    tbrandleys 0 April 15, 2019 at 7:51 pm

    Found it now – but how do I know what liability to put on? Do I just match what its fixed-odds liability would be?

    +0
    mike1221
    Blocked
    6 April 16, 2019 at 9:32 am

    yeah you could just type in the liability it should have from the board price. Can you do the £250 worth of wagering in 1 bet? youve already done £50 worth so just another £200 bet too go. Read the t&c’s before you do it just in case

    +0
Viewing 9 replies - 1 through 9 (of 9 total)

You must be logged in to reply to this topic.

Share this page

New Customer Offers

0% Commission for 60 Days

T&C's Guide

Bet £10, Get £50 in Free Bets

T&C's Guide

£30 in Free Bets

T&C's Guide

£30 in Free Bets

T&C's Guide

£40 in Free Bets

T&C's Guide

£30 Money Back if Bet Loses

T&C's Guide

£30 in Free Bets

T&C's Guide

£30 in Free Bets

T&C's Guide
View all new customer offers