[antjennings]

#4916

Managing Your Bookmaker and Betfair Balances

My question is in regard to your ‘Matched Betting Guide'(in ‘Start Here’ – ‘Introduction Section’). For the bonus bet I’m not sure where the money is going. If the bet wins at the bookmaker then you must be losing at Betfair (as far as I can see). So does that mean that you have lost $487.13 in your Betfair account? How much have you gained in your bookmakers account to gain a balance of $112.87 ($600?)? Am I missing something?

[Richard (MBA)]

#4920

Hi!

For that specific example, it was a bonus bet of $150 at odds of 5 if Im correct.

So you have won into your bookmaker a total of $150 x 5 = $750 return. Then deduct your stake as its not returned so we have $750-$150 = $600 won into your bookie account. And $487 lost at Betfair.

So your profits the difference of the two.

That make sense?

[antjennings]

#4924

Hi Richard, I know it sounds like kindergarten stuff, but thanks for the reply. Now I know the basic fundamentals of how it works. A big loss (in my mind), but a better (but guaranteed) better win. The balance is a profit. Thanks for the help.
Cheers
Ant

[Richard (MBA)]

#4925

No worries!

Just always double and triple check stuff, especially in the early stages!

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