Help Whats Going On?

[thewebmaster]

Ok, i was trying to take advantage of the difference in the lay, and back prices by doing this

i've bet the same horse to win and lose however this is what i have......
Please can someone tell me if i've played this one right or not, the market is still open can i make it so i only lose a little, i paniced and placed a lot of bets

http://www.brooklynhouse.co.uk/help.JPG

Thank you everyone for looking

[bigcumba]

A quick look suggests you've got it the wrong way round Tom - you want to back at the higher odds and lay at the lower if possible to make money from this sort of thing - it's called arbitrage, or arbs for short. Looks like you've done the lay at 4.7 / 4.8 and backed at 4.2.

To make any decent profit from it you need serious megabucks and a seriously good understanding of the Betfair markets and how they change and move. ALso not worth trying to get bets on at this time of night if you can help it - lays might be better but from my experience win bets will be worse as prices will drift near the time of the race, especially on longer odds horses.

[silax]

yeah you got it the wrong way round
big c's right

[thewebmaster]

I did this is this making things better or worse?

http://www.brooklynhouse.co.uk/help1.JPG

I think i'll just let this ride out and "weather the storm" thanks a lot for the advice big c and i hope that i have learned. I was so sure that i'd got it all ok?

I'll read a bit more about it good news is my betfair account hasn't dropped, it was at about £30 and now it's at £28 everytime i refresh it says £28 when in fact i've placed £10 worth of bets could this be betfair in it's little mind presuming that the horse had won/loss and giving the balance ni that circumstance? Literally it moved when i put the extra £2 backed on? can anyone suggest any odds to get it bk?

[bigcumba]

The reason your account is only £2 down is because you have layed and backed at fairly close odds and small stakes, so your 'learning' on this race has cost you a couple of quid. Don't do it again till you know what you are doing - stick with the best of the systems on the website. Anyway I'm off to kip, some of us have to work tomorrow! Good luck Tom!

[TheOldhamWhisper]

Leave it as it is Tom - You currently have the equivalent of a £2 bet at 2.18/1 - Best case - you get 6.36 back (less commission), worst case - you spent £2 on some valuable education!

[Win2Win]

Unless your putting at the very least £100 on, don't arb, but £1000+ is better if you want to see the positive returns. Even I hardly bother with it, much easier ways of making money.