You cant get an exact 4/9 to show on Betfair Ron the exact profit would be 193. Can only put in 1.44 and 4/9 is 1.4444
I didn't take the 4/9 on Betfair Joe. It was freely on offer with regular bookies at 1/2 and I just missed it and took the 4/9. For the purpose of this exercise I don't actually use the exchanges for bets. And, apart from your assistance today, I don't touch them when I lay off - I just look at the odds offered by regular bookies and lay off at better odds (eg today BC was being offered at best priced 2/9 so I assumed I could easily lay off at 1/4). I've explained that in the original post for anyone who is interested.
I know, thats why Im saying the exact profit would be 193 198 is the profit if you had 900 at 1.45, you had 900 at 1.4444
Black Caviar - Net profit after laying off = £193 Lightning Cloud - Lost £200 Move To Strike - Lost £800 Sea Moon - Won £700 Net loss £107 Balance: Plan A. Betting Bank £16,148: Piggy Bank £0 Plan B. Betting Bank £7,280: Piggy Bank £8,868
LOST Balance: Plan A. Betting Bank £15,748: Piggy Bank £0 Plan B. Betting Bank £6,880: Piggy Bank £8,868
Saturday Newmarket 2.00 Michelangelo Evs (var) £200 win Newcastle 2.15 Our Jonathan 3/1 (var) £200 win
Michelangelo W - Profit £200 Our Jonathan L - Loss £200 Net profit = 0 Balance: Plan A. Betting Bank £15,748: Piggy Bank £0 Plan B. Betting Bank £6,680: Piggy Bank £9,068
Phew. Bit worried for a moment there but made it OK in the end. Balance: Plan A. Betting Bank £16,748: Piggy Bank £0 Plan B. Betting Bank £6,680: Piggy Bank £10,068
Completion of exercise: I have been operating 2 plans. Plan A is simply a running account; Plan B ploughs all profits into a Piggy Bank with the Betting Bank being reduced by losing bets. From today (Tuesday 3rd July 2012) I will be operating Plan B only and the exercise will be completed when my Betting Bank is expired. Pre today's bet the balances are: Betting Bank £6,680: Piggy Bank £10,068 So, if I manage to blow the rest of my Betting Bank without another win, I will have made a profit of £68.
Correction: Having transferred the bets to a spreadsheet I have discovered that somewhere down the line I didn't adjust the bank correctly and also, having processed each bet individually from outset, there should be more in the Piggy Bank and less in the Betting Bank. The revised balances are: Betting Bank: £3,040 Piggy Bank: £12,768
