Betfair Tomfoolery

Just a short post today, dear friends, as I am about to head off on holiday with Mrs MYBP. For my sins, I’m being dragged up and down mountainsides in the beautiful Lake District and any of you who have met me will appreciate that is no easy task for a man of my size and advanced age. Say the odd prayer for me over the next week and a half!

I’ve had some requests for an occasional “How To” feature on the blog and I thought I’d kick off by dealing with a question I received last week.

How to Place a Bet on Betfair Below the £2 Minimum

Sometimes it is helpful to be able to place a bet on Betfair below the £2 minimum – for example, when first testing a new strategy with cash you might like to keep stakes really low initially and the £2’s  can really mount up when you are placing a lot of bets.

I know many of you will be aware of how to do this (and if that’s the case, please feel free to skip today’s post!) but there are many who don’t.

In the example beow, I wish to place a bet of 1p on a horse in the 3.35 at Fontwell. Obviously this could be done with a single click if you have trading software. However, if you are just using plain old Betfair, here’s how you do it:

1) Open the market you wish to bet on. Then click to place a back bet on the horse you wish to bet on. In screenshot 1 below I have clicked to place a bet on Knight Legend at the currnet back odds of 4.1

Screenshot 1
Screenshot 1

2) Adjust the odds you wish to bet at to 1000 and stake to £2. It doesn’t have to be odds of 1000, it just needs to be high enough that it won’t get matched in the couple of minutes it takes to complete this process. See screenshot 2 below.

Screenshot 2
Screenshot 2

3) Click Place bet and you will be left with an unmatched bet of £2 at 1000 on Knight Legend as in Screenshot 3 below

Screenshot 3
Screenshot 3

4) Go to your bet and adjust the stake to £2.01 at 1000 as in Screenshot 4 below

Screenshot 4
Screenshot 4

5) Submit the £2.01 bet at 1000 which will, again, not be matched. Then go to your bets and you will see that you actually now have 2 bets – 1 of £2 and 1 of 1p as in Screenshot 5 below.

Screenshot 5
Screenshot 5

6) Now click on the cross next to your £2 bet to cancel it, leaving just your 1p bet at 1000. Screenshot 6 below shows the £2 bet cancelled.

Screenshot 6
Screenshot 6

7) Go to your bet of 1p again. Adjust the odds of the bet from 1000 to the price at which you wish to bet (in this case I am betting at the current available back price) then submit the bet.

Screenshot 7
Screenshot 7

9) That’s it, you have now placed a 1p bet on Betfair. See the two screenshots below.

Screenshot 8
Screenshot 8

Screenshot 9
Screenshot 9

I hope that was clear and of some use to somebody! If you have any questions, give me a shout.

Have a great day

Kieran

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