guide,matched,betting,part,two entertainment A guide to matched betting - part two
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You now know what a betting exchange is, when betting at abetting exchange you are faced with odds you may have not seen before.Traditionally bookmakers show odds in fractional format such as 2/1. Betting exchangesshow odds in decimal format, and the calculations relevant to matched betting arealso performed using decimal odds. Once you get used to using decimal odds, inmy opinion you will find calculating your winnings a lot easier. To figure outhow much you would get back if you win you simply multiply your stake with thedecimal number. Lets take an example of a £10 stake and odds of 3 decimal: £10X 3 = £30, we would get back £30. The profit we would make is £20 as £10belonged to us in the first place. So in order to calculate your profit youtake the stake, multiply it by the decimal odds and then minus the stake offthe total.As we discussed in the first part of the guide you need toplace two bets in order to matched bet. The first is to bet for an outcome andthe second is to bet against the same outcome. Betting for is called backingand betting against is called laying.BackingBacking is betting for an outcome to happen and when matched betting youplace back bets with the bookmaker offering the free bet.Your risk (back risk): The stake amountYour potential profit (back profit): Stake multiplied by the decimal odds minusthe stakeLayingLaying a bet is betting against an outcome to happen, you place lay bets ata betting exchange. When laying a bet you are acting as the bookmaker, so themoney you stake is the money you plan to win, and your risk is relative to thestake and the odds. So to clarify laying a bet is a completely differentprocess to backing a bet.Your potential profit (lay profit): Lay stake minus 5%betting exchange commissionYour risk (lay risk): Lay stake multiplied by the decimal odds minus the laystakeWhen matched betting your back risk is outweighed by yourlay profit and vice versa. So whatever the outcome you will make the same. Tocontinue the guide, please see part three found in my author bio.
guide,matched,betting,part,two