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Just made a huge error matched betting!

I have bet for a horse to win at 9.0 (£40 free bets)
I layed it on betfair at 4.0 (I thought this was odd but put £60 on)
Obviously the lower odds were placed odds.
If the horse comes second or third I lose £180. If it comes first or lower than third I am fine. I don't like being exposed to this. What do I do?

Reply 1

808

I fiddled it a bit:
1st place: +£365.62
2nd place: +£5.62
3rd place: +£5.62
Not placed: -£13.00

I'd really like to make a risk-free gain here, I don't want to gamble

Reply 2

Welsh.Dude

So you actually came out with a profit?

I went to a Casino with my friend last week.

He put £300 on black and lost it all.

Gambling is okay in my opinion, as long as you can walk away and not get carried away

(edited 12 years ago)

Reply 3

Bellissima

if you don't want to risk losing then don't gamble? it's your own fault.

Reply 4

Ayshizzle

Original post by Bellissima

if you don't want to risk losing then don't gamble? it's your own fault.

Matched betting technically isn't gambling. It only becomes gambling when you make a mistake.

OP I think you've put this in the wrong area. Post it on the matched betting thread.

Reply 5

Bellissima

Original post by Ayshizzle

Matched betting technically isn't gambling. It only becomes gambling when you make a mistake.

OP I think you've put this in the wrong area. Post it on the matched betting thread.

yeah but he did make a mistake which is a risk with matched betting so you are gambling..

Reply 6

chiliman14

You bet on the wrong market, I myself first did this when starting out and made quite a bit (then lost it all). You have bet on the 'to be placed' market, hence why the odds are significantly higher for the lay. Make sure you always bet on the to win market!

Reply 7

Bhumbauze

Assuming this hasn't already run: the obvious answer would be to lay another £5.62 for the lose, leaving you with £0 for the place and money for the win. Obvs can't tell you if you'll make any profit at all for the lose, as you've not posted the odds for that market, but at the very least it'll reduce your £13 loss to (hopefully?) near enough zero.

Means you get nothing at all or a slight loss unless the horse wins, but tbh after making the mistake you should really just be looking at writing off the race rather than still profiting. Consider £0 a near miss.