Gambling odds, need some advice

[cHodAX]

Corals have both United and Chelsea at 8/5 to win the match tomorrow. If I was to put £1000 on each to win is there any way for me to end up down?

My working out is as follows...

Chelsea to win at £1000 & 8/5 returns £2600


United to win at £1000 & 8/5 returns £2600

All for a £2000 outlay meaning £600 profit regardless. Is this right or am I way off?

 

[Litmus]

i think that is right, you will inw £1600 from the bet (£2600 in total when you get your £1000 for placeing it). But tbh, that sounds too good to be true, must be some catch in it. otherwise every person in the country would do it and the bookies would go backrupt.

 

[Haw]

What you are trying to do is safebetting - it shouldnt be possible with such a big margin though unless you found just the right match! Have you considered a tie?

 

[cHodAX]

i think that is right, you will inw £1600 from the bet (£2600 in total when you get your £1000 for placeing it). But tbh, that sounds too good to be true, must be some catch in it. otherwise every person in the country would do it and the bookies would go backrupt.

Aye that is what is worrying me, the site makes no mention of what happens to my bet/s if the game goes to extra time or penalties.

 

[Lamp]

A £10 Each Way Single on a 10/1 selection paying at 1/4 of the odds for a place would cost £20.

If the selection came first the returns would be: £10 x ((10/1)+1) = £110
Place odds at 1/4 would be: £10 x ((10/4)+1) = £35
Therefore total returns would be £110 + £35 = £145

 

[rayzor]

normally "win the match" means over 90 mins, so a draw (and the resulting ET and possible penaties) would lose you your stakes. Check the small print.
Bookies are rich for reason.

/cry about last years penalties


edit: winning money from bookies offering different odds on the same outcome is called arbiterage. Google it, cos I cba.

 

[georgie]

It's called Arbitrage too.

 

[Potato Junkie]

normally "win the match" means over 90 mins, so a draw (and the resulting ET and possible penaties) would lose you your stakes. Check the small print.

inc normal stoppage time - doesn't count with some (I had a weird feeling we were gonna win 3-2 once, so placed a bet for great odds, we were actually at a draw after stoppage, but I still won, mwahaahaa)

but yeah, nice idea in theory