Noob Help Please

[Admin]

Your bookie and betfair accounts are completely separate so naturally any winnings will be withdrawn back to your bank (or whatever deposit method you chose-debit card is probably best).

You'll see from this it's better to try and win at betfair and lose at the bookie as it saves you the hassle of withdrawing, your money is in betfair where you want it, the bookie doesn't lose and will see you as "profitable" and are thus more likely to offer you repeat free bets in the future. How do you lose at the bookie. Go for the higher odds option is the obvious suggestion but there are no guarantees....

Deposit bonuses are just that. You make a deposit and you automatically get the bonus-no need for a qualifying bet. The downside to a deposit bonus are the terms / wagering requirements.
You'll understand by now that for most bets you lose a little bit of profit each time you bet. So if for example you've got a £50 bonus for depositing £50 eg you've now got £100 in your account BUT the WR is 5x the bonus amount eg £250 before you can withdraw, you can see that there is potentially a lot of betting to do before you complete the WR.

Ideally then you want to bust out at your first attempt eg bet the full £100 in your account and lay it off at betfair in the usual way but with the hope that you lose the bookie bet so all your money and the bonus is transferred into betfair.

If you happen to win the bookie bet then you can't withdraw your cash otherwise you'll forfeit the bonus so, what to do?

Your next bet should either be for the full amount in your account again, or if this amount is now more than the wagering requirements (you might now have in excess of £200 in your bookie account) then just bet up to whatever amount will meet your remaining WR.

Either way you're working your way to meet the WR (remember the min odds terms of the offer as any bets placed under these odds won't count towards the WR) or you'll bust out as intended. Usually every bet you subsequently make shaves a little off your potential profit so there is a technique known as underlaying where you sacrifice a bit of your anticipated profit (should you bust out in one) in favour of gaining a bit from the bet should it win at the bookie (instead of losing a bit as described above). By doing this if you win the bookie bet then you made a little bit extra to compensate for having to complete the WR - if you managed to bust out then you've sacrificed a bit of profit.

Underlaying when the odds are above 6 is the best way but if you dont see why this should be the case then it's probably too early to consider doing yet. Whilst underlaying isn't particularly complicated I wouldn't recommend it for the beginner. Get a feel for the system by completing the free bets before you go on to the deposit bonuses would be my suggestion.

[kc89]

Ok thanks for that probably going to start in a week or two another Q is, do you recommend just 1 betting exchange + 1 bookie to start or shall i just have 1 betting exchange and go through 3 or 4 bookies to get 3 or 4 free bets ?

How much float money do u recommend putting in betfair ?

for example BET 1 (SR)
WH 25 BACK 1.5
BF 25.86 LAY 1.5
L RISK 12.93, win 25 free bet.
0.43 LOSS = (25 FREE BET)

BET 2 (SNR)
WH 25(FREE BET MONEY) BACK 7
BF 21.58 LAY 7
L RISK 129.50
20.50 PROFIT

From BET1 the best scenario is :-
lose 25@WH, win 25 free bet
Win 24.57 @ BF correct ???

Other scenario is :-
Win 37.50WH win 25free bet WH
Lose lay risk 12.93 .... this means larger profit, i must lose the 25 i bet @ WH aswell right to mean -0.43 for the 25free bet ??

[Admin]

To start with just go with betfair. Use them for all your lay bets and consider float/balance here as another bank account.
Next pick a bookie. Go for the lower free bet offers first. Coral ladbrokes William hill betfred etc will do.
Important- do them one at a time. There are no prizes for rushing through them when you're starting out. Do the qualifier, then do the free bet.
Once your all done. Move on to the next bookie. Rinse and repeat.

[kc89]

Ok, my next Q is do you recommend the 10pound free bet bookies 1st because if i was to do a 25 free bet on WH for example
the Q bet i'd win a 25 free bet but lost 43p on 1.5 odds + have either

37.50SR + 25free bet in WH + 12.93 loss @ BF
or 25free bet @ WH + 24.57 win @ betfair + 12.93 pound to cover lay risk so id only have a float of under 50 pound to use for the actual free bet but you have you bet the free bet in full and use higher odds but the lay risk is much higher than the float money i have from the Q bet so what do i do about this ?? Just add 'x' amount float in betfair untill i win it back so then i can put the original 'x' amount back in my bank or ???

SR-25 WH BACK 1.5 = 37.50 + 25 FREE BET
25.86 BF LAY 1.5 = 24.57
L.Risk = 12.93
25placed in WH, 12.93 placed in BF, overall LOSS = 43P but gain 25FREE BET

SNR-25 WH BACK 7 = 150
21.58 BF LAY 7 = 20.50
L.Risk = 129.50 -----(My winnings from the Q bet wont cover the lay risk)...... Thats my problem lol

SR-10 CORAL BACK 1.5 = 15 + 10 FREE BET
10.34 LAY BF 1.5 = 9.83
L.Risk = 5.17
10 placed in CORAL, 5.17 placed in BF, OVERALL LOSS = 17p but gain 10 FREE BET.

SNR-10 CORAL BACK 7 = 60
8.63 BF LAY 7 = 8.20
L.Risk = 51.80 -----(Winnings from the Q bet cont cover the lay risk) same problem again what do you recommend ??

[Admin]

The order you do the bookies is entirely your choice. Some people have next to no money to begin with so the smaller free bets are essential for them. If you have more money to start you off then take your pick. There's no right or wrong order. Enjoy.

[kc89]

Ok, well would you say a floating balance of around 100 in betfair so i have enough to cover my free bet lay risk ?

Also when placing your free bet, is it a good idea to try find a bet that you think is more likely to win @ BF instead of the bookie, such as correct score in a football match instead of correct result ?

[Admin]

As long as your betfair balance covers your liability you're ok. Deposit more if it doesn't.
It's better to win at betfair so correct score would be better but generally the odds are higher so you then need a bigger float...

[kc89]

Yeh ok, was just unsure about how much to have in my BF from the start considering i have to cover the small l.risk for the Q bet and then the larger lay risk of just over 50pound if its only a 10free bet on odds of 7 meaning realistically a min of 60-75pound in your starting BF account b4 any betting

[Admin]

Yeah you've got the idea. I think I put about 150 in betfair when starting out. Just think betfair as another bank account

[kc89]

Ok, well ill save 150 to put in betfair and an additional 25 to place my 1st Q bet, are all of the summary's info of the bookie's accurate on the home page in terms of T+C etc or should i check the bookie aswell b4 placing my back bet just incase.

So i should do 1 Q bet + 1 FREE bet on WH 4 example then move on2 CORAL, repeat, move on repeat etc untill im happy with 'x'amount of bookies ?

Dont think ill want to many or ill lose track lol

Also i was playing around with the calculator and was jw do you more exp guys with larges amounts of money bet in larges amounts (100's) as i see with some bets you can make over 1k profit in a bet, was reading 1 of SS posts somewhere saying he had 20k spread about in a few bookies, just wondering thats.