Can somebody please help me with matched betting?

(44 Posts)
Norris63203 Sun 10-Apr-16 17:51:51

I am having some trouble with matched betting. Can someone please help?

I am trying this for the first time. I am trying to earn more money for my family.

I am using www.savethestudent.org/make-money/what-is-matched-betting.html#comments as a guide.

Here is what I have done so far:

Back bet - Leicester City vs Sunderland

Paddypower - I bet £10 that Leicester City will win (odds of 2.25)

Betfair - I placed a lay bet that Leicester City would not win (odds of 2.30) Liability amount = £12.88.

Result = Sunderland 0-2 Leicester City

Paddypower total return - £22.50 plus £10 free bet NOT £30 free bet like the guide says I should get.

Free bet - Deportivo La Coruna v Las Palmas (tommorow - 11/04/16)

Paddypower - I used my £10 free bet to bet that it would be a draw (odds of 3.25)

But according to the guide I should have had a £30 free bet to use!! Instead I only have £10.

Why is this?

Will it still work?

Should I bet another £20 from my remaining balance to bring it up to £30?

My remaining balance is £22.50

Thank you so much..

ImperialBlether Sun 10-Apr-16 17:53:34

OP, I'm sorry you're struggling financially but you're risking losing what little money you have, aren't you?

sixinabed Sun 10-Apr-16 18:06:13

Yes, gambling is not a good way to get money for your family. Far more likely to lose it all. That is how the betting co.s make their money. Otherwise they'd all go bust.

Sallyingforth Sun 10-Apr-16 18:09:20

I am trying this for the first time. I am trying to earn more lose money for my family.
I've corrected that for you OP

cuntycowfacemonkey Sun 10-Apr-16 18:12:04

Matched betting ISN'T the same as gambling.

Norris63203 Sun 10-Apr-16 18:15:36

I'm sorry I should have explained that this isn't gambling because my money is not at risk.

Some betting websites give you a free bet after the first as a special offer. So you use the free bet to bet on the other team. That way you never lose.

It's more complicated than that but that's basically it in a a nutshell.

Loupee Sun 10-Apr-16 18:24:15

I've just started matched betting as well, as long as it is done properly it is a risk free way to make some extra cash by taking advantage of the free offers from the bookies.

Op if the £30 free bet was advertised on paddy power before you signed up then you should speak to them on live chat to see what's gone wrong.
You should not use any of your winnings towards a bet, you are best moving that to bet fair to build up your account.

Loupee Sun 10-Apr-16 18:27:19

Also I've been using the profit accumulator website, and found it to be incredibly helpful and informative.
I've made £100 since Thursday

Homeriliad Sun 10-Apr-16 18:52:44

Norris, when I did matched betting with Paddy Power, I got 3 seperate £10 free bets rather than 1 £30 free bet, double check your account. If not, get in touch with customer support. Don't use your own money to make up the difference as the profit comes from the free bets.

Norris63203 Sun 10-Apr-16 20:05:17

Thank you Loupee. I spoke to live chat and they said that it was a £10 free bet not £30. My mistake.

I have made a pigs ear of this. I think it best if I forget about it and try again with profit accumulator. Can I definitely trust this website? You have to be careful what you sign up to.

One more thing nothing is showing up on my online bank statement. Why is this?

Thanks

cuntycowfacemonkey Sun 10-Apr-16 20:13:23

If paddy power are offering £30 free bet with a £10 deposit and betfair are offering a £20 free bet but needs to be a £20 first bet should I do a £20 deposit first bet with paddy power or two seperate £10 bets?

sixinabed Sun 10-Apr-16 21:09:52

Sorry, never heard of this before and reading all subsequent posts still baffled. Should not have posted on something I misunderstood blush

BettyOctopus Sun 10-Apr-16 21:22:51

It definitely isn't gambling as you don't make a loss, there's a video on Profit Accumulator that explains it;
http://www.profitaccumulator.co.uk/idevaffiliate/idevaffiliate.php?id=5979

ImperialBlether Sun 10-Apr-16 21:29:20

But if nobody makes a loss, how can anyone make a gain?

sixinabed Sun 10-Apr-16 21:31:39

I guess it's the people who don't stop at using the free bet who make the losses?

cuntycowfacemonkey Sun 10-Apr-16 21:35:48

You place a bet with a bookie say back Everton to win and you also place a lay bet with a betting exchange for Everton to lose or draw which cancels out you risk and you profit because you are taking advantage of the free bet (e.g £30 for new customers).

NotDavidTennant Sun 10-Apr-16 21:37:10

On Paddy Power's homepage it says bet £10 get £30 free bets (which if you read the T & C's is paid as 3 x 10 free bets). Have customer services explained why you are not getting this?

While matched betting is risk free if you know what you're doing, if you don't fully understand how the process works its actually potentially quite risky.

Loupee Sun 10-Apr-16 22:15:34

I trust PA, and did a fair bit of research beforehand.
I really like the step by step beginners videos, I had never placed a bet before and now it all makes sense to me, even if I struggle to explain to anyone else!
They have a trial bit you can sign up to for free to try it out before you spend any money, I know there are places to get the same info for free, but I went for simplicity.

It's the bookies that make the loss, all you are essentially doing is using maths and logic to turn the free bets into cash.

Loupee Sun 10-Apr-16 22:17:10

Also, it worth noting that some bookies reduced or withdrew free bet offers for the grand national, so if you signed up in the past couple of days that may explain why.

Sallyingforth Mon 11-Apr-16 11:06:48

While matched betting is risk free if you know what you're doing, if you don't fully understand how the process works its actually potentially quite risky.
The bookies don't do this to lose money. They do it to gain customers, and the customers always lose in the end.
There are drug dealers who give out free samples of crack cocaine, for the same reason.
Please come back after a few months and tell us how much you have gained over that period.

Bree85 Fri 15-Apr-16 09:36:03

I've been doing matched betting for about 1 year now and only wish I started earlier. I personally found Profit Accumulator wasn't the service for me and used a couple of other ones. The best advice would be to get started asap. Start small and build up, so you can build your confidence and bank roll up.

If you are getting started and need any advice, I can try to help on here smile

lucyjordan84 Fri 29-Apr-16 17:34:45

Hi

Hope its ok to post this...

If anyone is a member of Profit Accumulator I have started a complaints group to try and see how we can get our money back for the appalling service we have got recently. I have a yearly membership so cant even cancel!!

Here is the group...

www.facebook.com/groups/235790033477818/

Katelottie Tue 28-Jun-16 20:24:42

Hi Norris63203, Loupee and anyone else interested, a friend of mine has a match betting service website, i completely recommend it- not just because he's a friend! They have tutorial videos to help you start up and each sign up offer explained in full with step by step instructions, also the daily refill offers are explained in full with 24hr support too....I have managed to make £1600 in 3 months, to the sceptics i was a complete sceptic as well until i read up on it, wish i had started it sooner now!!

www.moneypigz.com/idevaffiliate/idevaffiliate.php?id=112

They have a free trial anyway which is worth giving a go......

Mumanddadtoone Thu 30-Jun-16 07:14:44

I started doing this just over a week ago and have made nearly £300, I've done it through Bonus Bagging, it costs £27 + VAT to sign up but they send you all the links, tell you what to bet on and how much. The sales page is a bit misleading as it makes out you get 3 bets sent a day for months, but once you've used all the online bookies you have to buy a separate package for £97 + VAT, I needed a betting pot of £700 to get the £300 profit but it's definitely worth doing. I'm signing up to the new package tomorrow, it states you can make up to £500 per week but to do that you need a betting pot of around £3000, I haven't git that sort of money so I'm starting with a betting pot of £300, and will slowly increase that week on week from my winnings.

rosiecam Fri 01-Jul-16 21:17:39

If this relies on free bets from bookies which you only get the first time you sign up, how can you plan to keep doing it for weeks and months?

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