Cat And Mouse With Bet365

Saturday afternoons are set aside for some free-bet matching on the Bet365 Ch4 horse racing offers. As you can see from yesterday's results, it can be quite lucrative. Consequently, I was looking forward to more of the same today with races from Sandown and Wolverhampton making up the six on offer.

It turned out to be a somewhat disappointing day as I was continually beaten to the draw as Bet365 reduced odds just as I submitted my bet.

The tone was set in the morning when, upon first opening the Bet365 and Betfair websites, I noticed that 'Keki Buku' in the 2:05 at Sandown, was on offer at 9.00 on Bet365 and 8.4 to lay on Betfair. In the 30 secs it took me to log onto my Bet365 account, they slashed their price to 5.00!

As I've explained before, it is important to get as small a spread in odds as possible. This way, the liability in the event of a win is minimised. I aim for a liability of around 75% of my stake, but if I can reduce this by getting lower lay odds, so much the better as this gives some money to play with for additional in-running lays for example.

Unfortunately, I struggled to find any lay odds less than the back odds I eventually took. It wasn't helped by playing cat and mouse with Bet365 as they cut their odds on virtually every horse I went for. None more so than the second last race, the 3:30 at Wolverhampton, where I went for 5 different horses only to be told each time I submitted my betslip that the odds had been cut. I was literally seconds away from a good deal each time.

In the event, it didn't matter as I failed to find any winners today as the screen shot below shows.

When I'm doing these matched bets, I always ask myself, 'how much profit would be acceptable per race if I was scalping the market?' To me, 5% return on stake would be fine so I configure my lays to give just that knowing that if I happened to find a winner, I'd be temporarily in the red, but with a free bet in hand.

With no winners today, I got a return of £15 total over the 6 races. A reasonable return for the relatively small effort I put in, but I cannot help be disappointed having missed so many negative odds spreads.

I also did a spot of greyhound trading in the morning, picking up £21 for my efforts adding to the success of the day. And it's not often I've said that about a Saturday's trading.


crotig said...

How have you found the odds spread between Bet365 and Betdaq?. Are the odds as bad as the liquidity?.

Alistair said...

Hi Crotig,

It's been a while since I used Betdaq as I used what fund I had in there to fund my Bet365 account for this latest batch of matched betting.

From memory though, the spread is much the same with the odds being the same or within 1 tick of Betfair. The liquidity issue is likely to be the biggest problem.

The odds spreads today weren't bad at all, as you can see from the screen shot. It's just that they weren't as good as they could have been thanks to Bet365 being mean, and pretty dam quick to drop their prices.


PhilipH said...

Hi Alistair,
I am still following your trading exploits, even though I said I had admitted defeat with "trading". I have a keen interest in all things to do with this topic and perhaps will give it another go in time. I had a good day yesterday, simply backing a couple of winners on the telly yesterday. I think the lure of having a straightforward "fun" bet was hindering my "trading" style. It is hard to see so many successful trades going in for a small reward whereas letting the selection run would have shown a ten-fold profit.

I guess one has to stick to the first two in betting to be a good trader as the smaller tick sizes gives the chance to extricate from a "wrong" market move type of thing. Keep up this most interesting of betting blogs.
Cheers, Phil

Alistair said...

Nice to see your still following my exploits Phil. Anything for a laugh eh?

As I've said many times before, scalping the pre-race horse markets isn't for everyone. A variation on a theme of course if the free-bet matching that I've been doing on the Bet365 offers.

If you, or anyone else reading this for that matter, are not already doing these, then you're missing out on some very easy money.

It can of course been done along side any other trading/betting you happen to be doing.

If you need advice on doing them, nip into the chat room when I'm doing them on a Saturday afternoon. I'll help as best I can.