BET AND LEY PROBLEM
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scottyboy319
- Posts: 7
- Joined: Fri Mar 31, 2017 7:12 am
I have just discovered and started using bet angel pro but I'm experiencing problems when it comes to betting and leying on horses. For example I have done a number of bets now for example I have bet a £60 back bet on a horse on odds of 4.60 and then leyed £60 on the same horse on odds of 3.85. The ley bet won but I only won £120...on my befair activity web bet history for that bet it just says profit £60. So even tho the ley bet was shorter odds I didn't make a profit and this keeps on happening. I am using the ladder interface on bet angel pro and I'm getting a matched ley bet in the green profit margain but still never getting a profit I'm always breaking even no matter what the outcome is. Does anyone know why this might be, maybe I'm doing something wrong on bet angel or have wrong settings on or something? any help would be much appreciated!
It sounds to me that you are not hedging or greening your positions.
What you must do is lay with a bigger amount then you back ( £60@ 4.6)=£216 return if that horse went on to win a lay at 3.85 of the same amount of £60 would return you a profit of £42 but only if that horse went on to win but you would have no loss if the horse lost.
to achieve a profit on all horses you would have to lay @3.85 with an amount of £72 approx to achieve a £11 profit on all horses.
if you set your global settings to offset with greening you will find betangel does the calculation and places the bet for you.
there are some videos within betangel that will explain this to you much clearer.
Ihope that helps.
What you must do is lay with a bigger amount then you back ( £60@ 4.6)=£216 return if that horse went on to win a lay at 3.85 of the same amount of £60 would return you a profit of £42 but only if that horse went on to win but you would have no loss if the horse lost.
to achieve a profit on all horses you would have to lay @3.85 with an amount of £72 approx to achieve a £11 profit on all horses.
if you set your global settings to offset with greening you will find betangel does the calculation and places the bet for you.
there are some videos within betangel that will explain this to you much clearer.
Ihope that helps.
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scottyboy319
- Posts: 7
- Joined: Fri Mar 31, 2017 7:12 am
Thanks for you're replay! I have had settings set to offset with greening but I hadn't been leying more then I back tho! so I guess that's where I have been going wrong maybe. But if you ley more then you back then every time you're back bet wins your going to make a loss? I just done a bet where I leyed more then the back bet and the back bet won but even tho the greening box was ticked I still lost all my liability from the ley bet...
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scottyboy319
- Posts: 7
- Joined: Fri Mar 31, 2017 7:12 am
Also forgot to say I'm using this back and ley method with scalping and all the videos I see on youtube the guys are backing and leying with the same amount each time...but when I do the same thing there doing I never make a profit!
I believe you are looking at profit that are not hedged yet. Like if you look at Peter's videos you can see his green number much higher on ladder than it actually is when you hedge or green. Correct number for your profits you can find not on ladder in this case but it is still above ladders global settings sign and you should also use that greening by clicking on that sum.
Using same amount for example 50$ for backing and laying on ladder is perfectly ok and you do not need to adjust it because when you place 10$ on higher odds then your liability is adjusted to that bet accordingly automatically. Same applies for betfair website.
Using same amount for example 50$ for backing and laying on ladder is perfectly ok and you do not need to adjust it because when you place 10$ on higher odds then your liability is adjusted to that bet accordingly automatically. Same applies for betfair website.
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scottyboy319
- Posts: 7
- Joined: Fri Mar 31, 2017 7:12 am
I just watched this video...
https://www.youtube.com/watch?v=wZXE7xPyG3M
I did everything exactly the same as peter did but still just broke even! After the bets got matched I ticked the green "hedge" icon and it said I would have a profit of 11p whatever the outcome...this profit margin was going up and down throughout the race tho and the lay bet ended up winning and I broke even!
https://www.youtube.com/watch?v=wZXE7xPyG3M
I did everything exactly the same as peter did but still just broke even! After the bets got matched I ticked the green "hedge" icon and it said I would have a profit of 11p whatever the outcome...this profit margin was going up and down throughout the race tho and the lay bet ended up winning and I broke even!
See the other thread were i have just posted the solution - even though you ticked 'Green' that just enables it. You still have to click the figure to place the actual bet - you will see this figure change throughout the race as the odds move until you actually green upscottyboy319 wrote: ↑Fri Mar 31, 2017 7:44 pmI just watched this video...
https://www.youtube.com/watch?v=wZXE7xPyG3M
I did everything exactly the same as peter did but still just broke even! After the bets got matched I ticked the green "hedge" icon and it said I would have a profit of 11p whatever the outcome...this profit margin was going up and down throughout the race tho and the lay bet ended up winning and I broke even!