Matched Betting people ... need help!

[Golden0ldie]

I’ve panicked and made a mistake. Don’t know how to fix. Free £10 bet. Matched. Comfirmed lay at Betfair. Hit place bet at bookie and it wouldn’t place because my Mobile wasn’t verified. Cashed out at exchange. Thought that cancelled it bit it doesn’t, does it? Have now verified mobile but unsure whether to place bet at bookies or what to do.

Help!!!!

How much did you lay at the exchange and how much did you cash out?

Oh I’m so confised! Have placed bookie bet now but haven’t a clue ... okay, some figures!

At exchange, laid £8.92 at 13.5 with liability of £111.50.
Cashed out so now there’s a Lay showing stake of £9.26, liability of £111.12.

Placed a free £10 bet at 13.0 with bookie.

Thanks!

I think it means that the two open exchange bets will pretty much cancel each other out. My horse at the bookies is unlikely to win so I will essentially lose the profit from the free bet. Is that right?

Which exchange? With Betfair it doesn't cancel completely it shows a back bet that effectively cancels out your lay bet. Made me panic first time I saw it. I had issue where maximum bet allowed was below the value of my free bet, it didn't tell me beforehand!

Panic isn’t the word for it! Am wondering whether I should place another lay then to get my profit from the bookie free bet?

Thanks both for your help!

So at this point have you sorted your back bet but currently don't have a lay bet because you cashed it out?

Lol ... I have a back bet and laid again at odds which had barely moved. Have started to breathe again.

When it happened to me the liability was a couple of hundred... I panicked, withdrew every penny from the exchange and didn't go back on for a week. I found them really helpful on Facebook chat, they checked my account and confirmed I'd cashed out correctly and everything looked ok.

Valuable lesson learned for me Emma.

Unfortunatley my 12/1 romped home so money now stuck at bookies. Currently almost stalled as down to £78 left in exchange with only £25 in bank and a staggering £368 waiting to transfer back from bookies.

Hate it when that happens, what a pain.

First rule of MB is to BACK before you LAY

I was doing that Sushi but was getting caught by fast moving odds at exchange so have started selecting all but hitting confirm on exch before hitting the place bet button. Shall mend my ways!