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Tools Of The Trade
To make things as easy as possible for you we have built a tool that will tell you exactly what you need to
do. You simply input some basic details and it will tell you the rest.
Before you try out the tool, check out this demonstration. We looked for a horse race due to start
in a few minutes. This is when you'll see odds move the most. We used 2 web browser windows,
one for Betfair and the other for William Hill and we browsed to the 17:15 at Kempton.
Slide 1 - Betfair
Look at Riverside Theatre, the favourite. We can currently lay at 2.46.
Slide 2 - William Hill
Again, find Riverside Theatre, the favourite. We can currently back at 2.37. We want to back
at a higher price than we lay, so for now we wait and keep an eye on the prices.
Slide 3 - Betfair
Riverside Theatre's price is shortening, we can now lay at 2.32. Remember we could back at William
Hill at 2.37. We can now back at a higher price than we can lay - this is what we are looking for.
Slide 4 - William Hill
The back price is holding up, we can still back Riverside Theatre at 2.37.
Slide 5 - Betfair
Riverside Theatre continues to get backed in and we can now lay at 2.2. This is ideal, so we
head over to William Hill and place our back bet at 2.37. We do this first as we expect them to
adjust their price quickly.
Slide 6 - William Hill
We were right, William Hill start to bring their price in, you can back at 2.25, but we got our bet
on before the price changed. Now all we need to do is go back to Betfair and place our lay bet
before the race starts.
How large should the lay bet be?
Well lets say William Hill had given you a £20 free bet. You back Riverside Theatre at 2.37
for £20. Now, you know you can lay at 2.2 on Betfair, so you open up our tool and work out
how much to lay.
Try it, click here to launch the tool and then input the following values:
Back odds: 2.37
Back stake: £20
Lay odds: 2.2
Exchange commission: 5%
(Betfair deduct a commission on your profits.)
Your worst possible outcome is when you stake £20 AND the selection loses. This is due to the
commission that Betfair deduct. BUT, even in this case, remember that we are using free bets. So,
despite losing £1 due to commission, you make £20 by gaining your free bet. Taking the
free bet into account and using the technique we illustrate above YOU CAN NOT LOSE!
On this occassion the selection won, here's what happened to our money:
| Website |
Action |
Return |
Account Balance |
| William Hill |
Fund account with £20 |
- |
£20 + £20 Free Bet |
| Betfair |
Fund account with £30 |
- |
£30 |
| William Hill |
Back Riverside Theatre £20 @ 2.37 |
£27.4 |
£47.4 + £20 Free Bet |
| Betfair |
Lay Riverside Theatre £20 @ 2.2 |
-£24 |
£6 |
Summary
We deposited a total of £50
William Hill now has £67.4 counting the free bet we have earned.
Betfair has £6 left.
In total we have now got £73.4 in our accounts.
We earnt a 50% return on our money for our effort.
Launch Tool
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Contents
If you have any feedback about this guide, or if you would like to let us know how you are getting on, or if you would like to ask a question please contact us.
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