Dangers of Doing the Wrong Bookie First

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I opened my Betfair account on 22nd April 2003. I was one of the first subscribers to Adam Todd's BetTrader and was a founding partner of JuiceStorm.com on 17th February 2007.

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A cautionary discussion from BetSeventyTwo forum illustrating the hazards of going for a bonus with a large wager requirement before you have built up a big enough bank. You can never be certain that a high odds bet will lose.

The bet that resulted in this problem was not at particularly large odds, and the winnings from it were relatively small compared with what can happen. It is very common to see people posting that they will “try to win at Betfair” by backing an outsider. The fact is that longer odds selections do sometimes win, and unless you can withdraw the winnings fairly quickly you can get left with no money to lay your bets with. If picking losers was easy we would all be making money by just laying those selections at Betfair, but although there are plenty of systems which claim to do just this, they have a tendency to crash and burn when they do hit the inevitable winner.

When you are looking for bookies to do first, always go for the ones with small bets which are coloured green on the bookie list. Avoid orange and red in particular as these offers are difficult and many require a large bank and experience of techniques like underlaying in order to make some money from them.

help

by sinc1000 » Fri Nov 06, 2009 3:58 pm

Hi Guys

I am struggling to get out of this bonus with profit

deposited £300 in to 10 bet

laid galatasary on last night for £300 , they won so now my 10 bet account has £765 that includes the £90 bonus

now I need tot ry and lose that in next bet as my bf account is already £367 down from lay bet

any suggestions as next bet is £765 , and if 10 bet wins , I have no more money to lay

and I need to bet £3300 before I can withdraw mu bonus

Looking forward to your ideas as I can only afford to lay as 2.4 max and I am constantly checking odds matcher

not many games have that much liquidy for me to do a £765 lay bet

Regards

Vince

by dark7ice » Fri Nov 06, 2009 10:17 pm

Only advice I can offer is to learn from this. The moral being that when starting up on the risk free road focus on the easy to clear offers which will increase your bankroll to a level where you can comfortably tackle the trickier offers

by corner123 » Sat Nov 07, 2009 7:47 am

Its a pity that you have started a bonus like this one before you have a big enough bank to cope. There is very little you can do with these deposit bonuses with large wager requirements except plough through the wager requirement if your first bet wins.

You do not have to bet all of your balance on the next bet, and I can see no time limit in the terms and conditions. As I see it you have 2 options. The first is to accept that the money is tied up unless you are lucky enough to win some of it back into Betfair, and to play small bets at a time at 10bet, hoping they lose, while using the rest of your money to build up your bank on other offers which don’t have difficult wager requirements. This does depend on which other offers you have already done. If possible concentrate on ones where you can deposit £25, get £25snr and withdraw once you’ve done the 2 bets.

The other option may be simply to stop now, chalk it up to experience, forfeit the bonus and withdraw. This depends a bit on how much you have lost already with your first bet, and how you feel about “losing” the bonus money. It may cost you more in the end if you end up with all your money stuck in 10bet and have to forfeit the bonus anyway.

You really need to think about this, because if you bet with the bonus money and win, and then have to withdraw before the full wager requirement is finished you may find that they withhold some of your winnings as well as the actual bonus

by Darren » Sat Nov 07, 2009 11:24 am

I fully agree with what has already been said. The law of sod has taken over here and could be a case of putting good money after bad just to get out and that could cost you even more in the long run. Personally I would withdraw the deposit, forfeit the bonus and move onto the next offers.

by sinc1000 » Sun Nov 08, 2009 7:38 am

Hi Guys

cheers for your advice

I think with me being a tight fisted scotsman , lol

I will continue grabbing the 100 % + small bets that oddsmatcher throws up

most of them are small stakes so I can continue with other offers from other bookies as well

I did a few yesterday and again the 10 bet bets won , grrrrrr

I am sure the tide will turn tho and begin to get my money back in to betfair

I still have £77.45 off the bonus , so worth working on I guess

oddsmatcher seems to throw up many 100% plus bets throughout the day so I am happy to carry on in the meantime

Regards

Vince