Betfair Exchange Free Bet

[JasBarrow]

Before I ask this I know I'm missing something really simple but I'll float it anyway.

I got an email today from Betfair offering me a 'free' bet, happy days. My plan was pretty simple, back Middlesboro at the current price of 2.20 on Betdaq and lay it off on Betfair at the same price then claim my free bet. However I can't reconcile the 2 prices, I thought backing and laying at the same price on different exchanges would just give me a scratch regardless of the result, maybe even a little profit as Betdaq have lower commision. However if I would have placed these trades and Boro won I'd be looking at a net 'loss' of €1.25 across both exchanges. Am I missing something really obvious here?

Also doesnt help that I cant seem to view Betdaq p/l's net of commision even though box is checked. Potential profit on Boro should read €23.52 not €24. If I'm missing something very obvious please dont be afraid to call me an idiot!

[ShaunWhite]

When you use 2 exchanges you're paying commission on the whole win bet. When using 1 exchange you pay commission on just overall gain if there is one.

[Derek27]

When you use 2 exchanges you're paying commission on the whole win bet. When using 1 exchange you pay commission on just overall gain if there is one.

If you read the small print, he'd probably be disqualified from receiving the free bet if he lays the selection he backed or reduced his liability in any way.

I would just lay a short-priced favourite for a liability of €20 (assuming that qualifies) and back it with a bookie to green up. You would have to make sure you can get a similar price with a bookie.

To green up, add your liability to your profit after commission and divide by the bookie's odds to work out your stake.

For example, laying €10 at 3.0 on Betfair (€20 liability): €20 + (€10 * 0.95) = €29.50

If the bookie's offering 3.0 then €29.50 / 3.0 = €9.83 stake, resulting in a €0.33 loss but a free bet.

[JasBarrow]

Thanks Chaps,

makes a bit of sense now!

regarding betdaq not showing potential profit less commision even though I have the box checked.. is this a glitch of some kind? If I lay at odds of 2.00 its showing potential profit of 20 instead of 19.60 which is what it should be with 2% commision deducted.