The Midas Touch?

Not quite, but it was still the best day I have had to date. Virtually everything I touched went well and I finished the day with my highest ever daily total of £101.64. Marvellous!

As usual, I kicked off proceedings with the greyhounds. I spent the first two hours or so concentrating solely on the mutts, then dipped in and out as I did other things throughout the afternoon and evening.

This more relaxed regime seemed to work well as I made a total of £41.22 spread over 47 races. I only lost £3.30 in total over 7 of those markets, so a very successful day with our canine friends.

Come lunchtime, I started to look at the Bet365 feature races with a view to a spot of matched betting. The first, the 3:55 at Sandown, didn't have particularly good spreads, though there were a couple of horses that looked promising so I decided to wait.

The second race, the 8:20 at Wolverhampton was interesting as there was a very good opportunity in that, even in the early afternoon. 'Internationaldebut' was available at 6.50 on Bet365 and only 6.40 to lay on Betfair, so I snapped that up.

Those of you who are familiar with the Bet365 horse and dog racing free bet offers may think this strange. Bet365 give a free bet if the pick in the preceding race wins. So how can I take a position on the second race without knowing the outcome of the first?

When placing one's initial bet, the lay stake is known - and easy to work out using the Rolling Free-Bet Matching spreadsheet - and is dependent on the back stake. Consequently, it is the same for every non-free bet. If the runner wins, the lay bet on the subsequent free bet varies depending on the lay odds achieved on the free bet.

In my case, my lay on the 8:20 was £55.26 with a liability of £298.42. However, after later getting involved in the 3:55 and my pick, 'Don't Tell The Wife', going on to win, my spreadsheet told me, based on the odds I had achieved earlier in the day, that my lay should now be £50.93 with a liability of £275. In effect I now had an unwanted overlay which is easily erased by backing the runner on Betfair so that the overall liability returns to what it should be, i.e. -£275 in this case.

As you can see, there's no need to do your match betting in the same order as the races occur. By looking early at the prices on offer, you can quite often get very small spreads, or, even better, lay odds less than the back odds.

The first race was completely different to the second in that I had to wait until a few minutes before the off before a suitable odds spread presented itself. I managed to get on 'Don't Tell The Wife' at odds of 5.50/5.50.

As you can see from the screen shot above, my back odds are not 5.50, but 6.0. This is because after taking the 5.50 available at Bet365, the prices drifted and, with the horse going on to win, Bet365 paid out at SP which was higher than the odds I'd taken. That's why the spreadsheet reflects the higher odds. This is great when it happens as it automatically reduces the Net Win Liability.

With my running total sitting at a loss of less than £3 I was happy putting in an additional lay of £10 @ 1.75 hoping it would be matched in-running. If 'Internationaldebut' won, my running liability would still be less than £10, but I'd have another free bet in hand. As it turned out, it was matched in-running, but the horse then faded badly and wasn't even in the frame. So that cheeky little in-running lay gave another little boost to what was already a good return.

So two races done using matched betting and a profit of over £55. Not bad for what amounted to less than 30 mins work.

Finally, I also carried on with my horse trading using my Back To Basics strategy.

I entered 7 races today, mainly in the evening meeting at Wolverhampton. I scratched 3 of them and made a total of £4.91 from the others. Again, that doesn't seem much, but that represents an increase to my stake of 18.6% taking my stake up to £31.30 on the start of the 3rd day of this process.

So, although everything I touched didn't quite turn to gold it turned out to be a very successful day none the less.

Tomorrow being Saturday, I will be concentrating on matched betting the Bet365 Channel 4 races. Hopefully, I'll pick up a few more pounds to add to the pot. One thing for sure though, it's a lot less stressful than trading.


geno said...

impressive job , just checking your blog :)

Alistair said...

Cheers geno