Thursday, 9 February 2012

Chapter 24 - Bet 770

Bet 770 did a good offer where you deposit and bet £70 and if your bet loses, they give you a refund of £70.

For my £70 bet, I bet that Real Madrid would beat Barcelona at odds of 5.1. I then tried underlaying and placed a lay of £59.78 against Real Madrid at odds of 5.6. I used trickybet to work out that if Real Madrid won then I would lose £13.21 but receive a free bet of £70, but if they were to win then I would receive £12.01. Thankfully the match ended in a 2-2 draw so I lost my £70 at Bet 770 but received a payout of £56.79 at Betfair. This left me with an overall loss of £13.21. Not ideal, but at least I was prepared in case I did lose the bet.

My account was next credited with £70 as a refund. My aim was to bet this £70 in a way that I made the smallest loss possible, but at the same time bet it on odds I would most likely lose (or otherwise I would have to roll over the money). I was also limited by my funds in the betting exchange. In the end I decided to bet this £70 on the match between Blackburn and Newcastle resulting in a draw at odds of 3.4. I placed a lay of £68.99 against the draw at odds of 3.5. Thankfully I lost this bet so received a payout of £65.54 at Betfair.

Profit from this chapter: £65.54 - £13.21 = £52.33

Overall profit: £249.83 + £52.33 = £302.16

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