Any Betfair gamblers out there help please..

Can anyone help me with the Correct Score of 0-0.

If i back a 0-0 correct score at 12-1 with £5 to win £55 and then lay against the 0-0 when the odds drop to 6-1 during the game this give me a green profit of £30. Can anyone tell me why i don't win that profit at the end as i've backed the 0-0 score and then backed against the 0-0.

I'm rather confused !&*!

 

i'm on Betfair quite alot but not expert at betting / laying off

Basically, you've got factor in their 5% commission in any gamble, betting / laying or a combination of both.

so in effect, I guess if you can lay at 5%+ "better" odds than you bet, (assuming same stakes) then you will reap a profit, however small.

Betting & then Laying or vice versa will only be worthwhile if

a) You anticipate a big shift in odds, one way or the other, or

b) you have big money to bet on small shifts in the odds

As I said I'm no expert, I nomally just bet, but this is what I understand.

 

Your figures are wrong for a start. £5 at 12/1 (i.e. decimal odds of 13) would return £65, not £55.

To keep the numbers simple, let's ignore commissions for now. The figures are easier in decimal odds.

So, assuming you've backed 0-0 for £5 @ 12 (giving a return of £60). The odds now move to 6 (i.e. 5/1) and you want to lay off to guarantee a profit either way.

To hedge off your bet you need to lay a bet of £10 at 6.

If the match finishes 0-0 you have the following:
Your oriiginal bet returns £60. £5x12=£60, giving you a £55 profit less your £5 stake.
The lay bet loses £50. £10x6=£60, less the £10 stake you received, giving you a £50 loss.
Net profit is £5.

If the match finishes with any other score:
You lose your £5 on the original bet.
You win the bet you laid, so you receive the £10 staked against you.
Net profit is £5.

So either way, you win £5.


Not sure where you're getting a £30 green profit figure from as, even with the odds you've stated I can't see a way in which you can make a guaranteed £30 profit at those stakes.

 

If you back at 12-1 at a fiver you stand to win 60 if you then lay of at 6-1 at a fiver you will show a profit of £30 only if the game ends 0-0 if the game ends any other score you win nothing but you lose nothing because you have taken a bet of £5 to cover your origanal outlay of £5.

 

as the terrier sez, kez;

its only worthwhile if you either bet big (which is risky) or the odds shift a lot (which is rare, certainly as far as correct scores are concerned).

I tried it a few times with big brother odds - but lost out.

You also have to remember that if the odds shift a lot - they usually change for good reason (ie. like the odds on Arsenal winning league or Vila finishing fourth - they've got longer now - because it's probably not going to happen and will rarely win you anything in the long run).

the only sure thing with laying off betting - is that the bookies profit / commission increases.

 

Cheers Sheriff and Raggylad makes much more sense now nt