Rollover – Newbie help needed!

Hi All,

First post here, I’ve searched but come up trumps about what I want to understand.

I’ve been doing pretty well in my first couple of weeks of Matched Betting, £350 +. I feel I’ve made a couple of muck ups though.

Example: I signed up to Betfair with their offer and bagged myself £60 in that account (“lost” on smarkets). Bet fair say I had to rollover my winnings once, i.e. bet another £60 to be able to release those funds. I did that, lost that bet and Won over at smarkets.

Over the course of these bets, I worked out I am about £40 worse off.

My question: how on earth do you do the rollovers to extract the profit and not lose money?

As a side note, I use the Ultimatcher spreadsheet which is great for the most part but I don’t know how to use it in relation to the above scenario either.

Thanks all

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lightningmcduff
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March 22, 2016 at 5:45 pm

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MarkCorrigan 9 March 22, 2016 at 6:02 pm

Provide a breakdown of your bets (betfair and smarkets) and we might be able to help you – otherwise there’s really no way of knowing what you did wrong. Rollovers should be simple… You back and lay at close odds.

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lightningmcduff 0 March 22, 2016 at 6:33 pm

Hi Mark, thanks for the response.

Offer: Deposit £10 at Betsafe and get £20 Free Bet. Rollover Winnings once to withdraw.
Qualifier:
Betsafe: £10 @ 3.4 Back Draw, Freiburg vs. Karlsruher SC
Smarkets: £9 @ 3.75 Lay Draw, Freiburg vs. Karlsruher SC

Result: Smarkets Win Bet @ £8.82 (total loss between bets £1.18).

Free Bet:
Betsafe: £20 @ 4.0 Back Ternana, Avellino vs. Ternana
Smarkets: £13.50 @ 4.5 Lay Ternana, Avellino vs. Ternana

Result: Betsafe Win Bet @ £60 (not 100% sure what the profit was here)

Spoke to support, I had to wager the £60 @ 1.5 minimum to be able to withdraw so I went whole hog and did it in one go:

Betsafe: £60 @ 2.2 Back Pakistan, New Zealand V Pakistan
Smarkets: £30 @ 2.48 Lay Pakistan, New Zealand V Pakistan

Result: Smarkets Win @ £29.40 (Well, £29.40 is what is in green, so I assume that is profit on the Smarkets wager).

Did I do it right? Did I lose money? I can’t work it out. Help appreciated!

Thanks

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MarkCorrigan 9 March 22, 2016 at 6:40 pm

If you only laid £30 on Smarkets for Pakistan then you will have lost money. NZ won the match, so you lost your full £60 balance on Betsafe, however you only gain £30 (less commission) on Smarkets.

Firstly, you should try to be a bit more patient when finding close odds to complete rollover requirements. 2.2 / 2.48 will give you quite a high effective loss. Using these odds, though, you should have laid more on the exchange – laying £53.66 would’ve given you a loss of £7.42 to complete the rollover.

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lightningmcduff 0 March 22, 2016 at 6:45 pm

I think what I did here was use Unmatcher a little blindly and set the bet up as a “SNR” which may have been what threw me.

How did you come to the conclusion I should have laid £53.66? (for future reference of course!) If I had done that, I’d have had a bigger win on Smarkets, so the Betsafe money was lost? Apologies for being dense!

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feltt1p 5 March 22, 2016 at 7:07 pm

The ‘rollover’ is nothing to do with extracting free bets, act as qualifying and find the closest odds for lowest loss (make sure minimum odds are complied with)

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Shaun46 1 March 22, 2016 at 7:32 pm

Mistakes I can see if your free bet extraction odds are quite low you made £13.13 based on the odds you used is you had gone to say 8 / 8.5 then your profit would have been £16.18 less your qualifying loss of £1.18 so £15 in total.

Now you then had to rollover the £60 so it is a straight forward bet and lay scenrio, for this stick as low to the odds they want you to use on the rollover as possible if it’s 1.5 look for 1.6 etc if you had even rolled over @ 1.6 / 1.7 then you would have lost £4 on the rollover which would have left you £11 in profit your lay stake would have had to have been £57.14 not £30 but I think you can already see now where you went wrong,.

.

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lightningmcduff 0 March 23, 2016 at 4:14 pm

Thank you all for your help, it has certainly cleared things up for me. Happy Betting everyone!

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RyanB 11 March 23, 2016 at 4:25 pm

Also at least you only did it on a bet £10 get £20 free….many people jump straight into the big rollovers which in your case would have been a nightmare. But I would still definitely read up more before carrying on…

Did you not realise what these outcomes would result in?
Betsafe: £60 @ 2.2 Back Pakistan, New Zealand V Pakistan
Smarkets: £30 @ 2.48 Lay Pakistan, New Zealand V Pakistan

You need to know what either outcome will result in, if you had stopped and thought it through you would have realised these bets do not balance at all

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