Confused Where the Profit Goes

[Steve2507]

Hi,

I've just started using Bet Angel with Betfair but I'm confused over something.

I set up a back and lay at one or two ticks which should generate a small (very small at the moment as I'm testing different theories), however when it comes to payout I always break even and I'm at a loss as to why.

For instance I have just done this bet:



Should this have produced a profit of 20p regardless?

If so, it didn't I simply broke even as this shows:



I understand that I am probably missing something simply but would appreciate help in guiding me in the right direction.

Thanks

Steve

[hilly2908]

Hi
The two images you have posted are not showing up for me its just 2 boxes with a red X in the middle could you try again it might be worth saving the images as a .PNG file rather than jpeg as most attachments i have seen seem to be a .png format.

Regards
Andy

[Steve2507]

Sorry, here's the first:



Full image is here - http://www.glutafree.co.uk/wp-content/u ... Image1.jpg

And here's the second.



Full image is here - http://www.glutafree.co.uk/wp-content/u ... Image2.jpg

[hilly2908]

After placing your £10 back and lay bet you have nt then hedged it so what you have gotten is a risk free bet when had that selection won you would of had 40p profit but lost noting if it did nt win - which obviosutly it didnt, by hedging you are placing another smaller 3rd bet spreading that 40p profit from one horse to a equal a smaller profit amount on all runners which would of been around 8p. On bet angels ladder (Hedge or greenup) can be done by clicking on the figure in the far left colum of each ladder bet angel automatically selects the correct amount to place at those odds to create a equal profit.

Regards
Andy

[hilly2908]

Here is a link of a trade by peter (creator of bet angel) you will see he places his trade laying first then backing to create a risk free £1024 profit if his horse wins but will lose nothing if it does nt, if you notice the amount on the left side of the ladder in green by clicking on that hedge figure then bet angel calculates the required amount to spread that profit across all runners gibing a £128 whatever the winner.


https://www.youtube.com/watch?v=k8gt2uRpFwc

Regards
Andy

[Steve2507]

Hi Andy,

Thanks for the reply and advice.

That makes sense, at least I haven't been losing anything.

Steve