Betfair gurus, lend me your deep pocket mystical ways

[Nate]

So I put some on for the grand national and lost but I have some free bets from that as a refund to put on fixed odds markets or multiples.

So.

a) What are fixed odds markets?
b) What are multiples?
c) What of these are good bets on betfair?

Thank you gambling gurus

 

[old.Tohtori]

View: https://www.youtube.com/watch?v=FTDeOPFr9e4

 

[Chilly]

So I put some on for the grand national and lost but I have some free bets from that as a refund to put on fixed odds markets or multiples.

So.

a) What are fixed odds markets?
b) What are multiples?
c) What of these are good bets on betfair?

Thank you gambling gurus

a) Fixed odds markets are markets that any bookie would offer. Ie, you'd be placing the bet directly with betfair in their capacity as a sportsbook rather than with someone like me who trades on their actual exchange.
b)Multiples = accumulators
c) Multiples are less likely to come in but offer very long odds, fixed odds you're more likely to win (as you can bet on short favourites etc). Up to you, really.

As for "good bets" - neither are, really. But since you have free bets, I'd go for the fixed odds short priced favs and bank the (likely) profit rather than take some mental 500-1 multiple on 6 footie games.

 

[Nate]

a) Fixed odds markets are markets that any bookie would offer. Ie, you'd be placing the bet directly with betfair in their capacity as a sportsbook rather than with someone like me who trades on their actual exchange.
b)Multiples = accumulators
c) Multiples are less likely to come in but offer very long odds, fixed odds you're more likely to win (as you can bet on short favourites etc). Up to you, really.

As for "good bets" - neither are, really. But since you have free bets, I'd go for the fixed odds short priced favs and bank the (likely) profit rather than take some mental 500-1 multiple on 6 footie games.

Thanks Chilly,

Can you give me an example of a fixed odds short priced fav?

 

[Chilly]

Thanks Chilly,

Can you give me an example of a fixed odds short priced fav?

https://www.betfair.com/sport/football/event?eventId=27179184

1.2 on velez implies 1.0/1.2 = 83.3% chance of winning, however, BF's margin will be about 5-10% so the actual chance of it coming in is probably about 75%. 20% return for a 75% shot.

 

[Lakih]

You'll have to pay commission to @Chilly if you keep this going @Nate

 

[Gumbo]

Or open a matchbook account and lay off your betfair free bets for a guaranteed profit. (You should have done this with the initial bets too and not been a mug ) See the matched betting thread.

 

[georgie]

Or open a matchbook account and lay off your betfair free bets for a guaranteed profit. (You should have done this with the initial bets too and not been a mug ) See the matched betting thread.

How's that going for you, Gum?

 

[Nate]

Or open a matchbook account and lay off your betfair free bets for a guaranteed profit. (You should have done this with the initial bets too and not been a mug ) See the matched betting thread.

I don't know what all this lay and shigizzles means ;(

 

[Gumbo]

Good thanks, made around £200 so far, but haven't really done anything for about 3 weeks, too busy with work and getting my car back on the road in any spare moments.

Need to get back into it really to help pay for this...

 

[Chilly]

Or open a matchbook account and lay off your betfair free bets for a guaranteed profit. (You should have done this with the initial bets too and not been a mug ) See the matched betting thread.

Or just do it on betfair? They have significantly better markets. Matchbook approached me the other day to seed some of their markets, I told them to fuck off and get some customers and I might turn up.

 

[Gumbo]

He certainly could although I've heard it's a bit risky to lay your betfair free bets on betfair because of the terms mentioning about refusing people who indulge in guaranteed profit taking.

I bow to your greater wisdom though

 

[Chilly]

He certainly could although I've heard it's a bit risky to lay your betfair free bets on betfair because of the terms mentioning about refusing people who indulge in guaranteed profit taking.

I bow to your greater wisdom though

Ah, it's promo abuse.... you're probably right.

 

[TdC]

that was a very serious carfart(tm)

 

[georgie]

Need to get back into it really to help pay for this...

You also need finance those appliances which lay betwixt your missus' tits.

 

[Gumbo]

I don't know what all this lay and shigizzles means ;(

In the absence of more information, I'll give you an example making some assumptions.

Assume a £15 free bet.
Assume it is a Stake Not Returned bet (They usually are)
Assume you were doing this right now, this second, as I type this. As by the time you get everything in place, understand it. Do a practice run or two then actually do it, the information I'll use for this example won't be current any more.
Assume you could find a better match because I'm going with the first half decent one I find for this example as life is too short...

You place a bet that Man U will draw with Bayern tomorrow night with your £15 on betfair sportsbook at decimal odds of 6.5. At the same time you have lined up a lay on matchbook (a bet against the draw) at odds of 7.2. As I understand it there is no commission charged on football on matchbook at the moment which means that if Man U do draw with Bayern you would win £11.46 on betfair. If Man U win (hahahHAHAHHAHHA!) or Bayern win, ie it's not a draw, then you would win £11.46 on Matchbook.

Literally win/win.

Do more reading, understand the process, don't rush in etc etc.

 

[Gumbo]

that was a very serious carfart(tm)

Have a look at the diarrhea that followed...



Started with doing a service and cambelt, brakes etc. Ended up with Head Gasket Failure and a few other bits and bobs.

Still a few hundred quid and a few weeks later and she'll be good to go again.

 

[Nate]

https://www.betfair.com/sport/football/event?eventId=27179184

1.2 on velez implies 1.0/1.2 = 83.3% chance of winning, however, BF's margin will be about 5-10% so the actual chance of it coming in is probably about 75%. 20% return for a 75% shot.

Ok, I won! Yeah!! But I only got less then a quarter back of my free bet in my betfair wallet

 

[Gumbo]

That'll be because it's Stake Not Returned so to make a decent return you need to select odds over 7ish. That of course means you're unlikely to win at the bookie end (betfair in this instance) but you'd have still won at the Exchange end (matchbook in my example above).