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the real Profit is different than the calculated profit by matchbetting tools

  • I had £5 offer from betfair (SNR). I backed £5 at odds of 1.16 and layed £5.04 @1.20. I lost £0.21 which is fine and according to calculations. (the back won)
    then again I backed £5 (SNR) free bet @3.60 and layed £3.21 @4.10.(the back won) according to calculations on several online calculators my profit should’ve been £3.05 but in reality my profit is £2.87 . I’m trying to figure out where the 18p has gone! . although its not a big chunk of money but I should know where it has gone as an stance for further calculations
    thanks

    +0
    KennyM
    0
    September 5, 2016 at 1:26 pm

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    Jay 2 September 5, 2016 at 4:37 pm

    Commision my friend. Betfair is 5%. Use Smarkets, please. Its 2%…It all adds up.

    +0
    KennyM 0 September 5, 2016 at 5:53 pm

    the commission was considered at the time of betting as not a issue here

    +0
    Tony 13 September 5, 2016 at 6:53 pm

    The real question is why you are using free bets on odds that low and that far apart?

    3.6/4.1 is pretty poor in terms of extraction (yields c. 60%), regardless of whether you calculator is bang on or not, which it clearly isn’t.

    +0
    KennyM 0 September 5, 2016 at 7:36 pm

    because of the banking that I considered for that particular free bet. I didn’t want to deposit £50 to get £5. was happy with £3 at that moment.
    and I’m still learning about choosing the right odds. so I appreciate any further comments and advice on how to choose the best set of odds

    +0
    Tony 13 September 5, 2016 at 7:51 pm

    It’s really just a matter of shopping around tbh. You can employ some paid for odds matching software if that’s easier, but the more you do it the better you will get at just sifting through, say, 10 horse races scanning for something closer.

    Understand you not wanting to deposit more just to be able to take on higher odds, but unless you are right at the start of your MB journey you really want to have at least £250 in you exchange so that you can lay a horse at 10.0 when using a £25 free bet. If you must stick to low odds around 3.0-5.0 then that’s all well and good, but seek out those closer matches for more extraction.

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    MonkeyTennis 3 September 6, 2016 at 9:13 am

    As to why your profit is different, look at your individual bets and see what the return was. Your back bet should have returned £13, and your lay should show a loss of £9.95 (your lay lost, so no commission paid). If these are correct, then you made £3.05 from your free bet, and £2.84 when you take your qualifying loss into account.

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