Matched betting...could anyone talk me through it?

[TwllBach]

I've seen matched betting as a viable option to earn a little cash but am wondering if anyone can

a) tell me if it's worth the time/effort
b) explain how to get started in one words of one syllable

[LongSummerDays]

A) use your own time to find out
B) google it and do your own research. I refer you back to A)

[TwllBach]

Thanks for that Long, I really appreciate the sentiment.

[HilaryBriss]

1. yes it is worth the time and effort, I have made £1200 in just over 2 months
   
2. you need to read up on it as much as possible, sign up to a website such as Teamprofit.com (free) and read their guides.

[Obviouspretzel]

Yes it is worth it and is risk free providing you don't make an error. You can use profit accumulator website which is not free (although does have a free trial I believe) but it literally talks you through every offer step by step and has an active forum.

[TwllBach]

Thank you so much! I've seen it mentioned on a few threads here but I am hopeless with figures etc and have a healthy fear of The Gambling so have struggled to get to grips with the idea of it. I'll have a look at those two links mentioned - I really appreciate it!

[expatinspain]

What a lovely first response 🙄. Do a search on MN, as I have seen a few threads on here in the past with quite a lot of info on them. Good luck OP, it's something I'm thinking of trying myself, although, like you, I need to find out all the info before starting.

[christmaaaas]

Hilary - how much time did you put into it to earn that? Might look in to this

[TwllBach]

expat thanks for the search suggestion, I've got a few different tabs open now! My problem is I just can't seem to get my head round it at all. I've got a degree, I function in every day life, my brain just seems to fry every time I try to get to grips with it!

[HilaryBriss]

I work full time so can't do anything during the day so usually miss most of the horse racing offers. I usually do an hour or so in the evening and maybe a couple of hours on Saturday morning. I know others earn more faster but I'm happy with what I've made so far.

[TwllBach]

I've dived in trying to follow the profit accumulator examples and have chosen two events that are finished by midnight tonight, so I guess I should know in the morning whether or not I have done it right!

I did find it quite confusing, but overall I have deposited less than £20 so it's not a MASSIVE blow if it doesn't work...

[christmaaaas]

I thought that was a good profit Hilary. I'm going to look this up

[HilaryBriss]

Good luck TwllBach. If you have followed the guide to the letter and backed and layed correctly, you can't lose! You will make a small qualifying loss on your trigger bet but then should make up for it with the free bets that you receive.

[TwllBach]

I'm pretty certain I followed it step by step it took me 45 minutes the only place that I think I might have come unstuck is on the second lot of bets using my free Coral bet, because I bet on a basketball game and then on Betfair I placed two bets because it gave two options for the lay bet - one for each team.

Do you just repeat that process over and over again then?

[LOL7]

Follow one of team profits 'start here' guides- £10 to £800, £25 to £1000 or £100 to £1000 guides. I have been doing it 3 weeks today and I am on £700 profit :) but it clicked fast with me so I was able to move on to relaid offers and low risk casino too. It's simple when you get used to it and a great way to earn extra money! Good luck :)

[nameforthethread]

I think this is the thread I followed when I was looking into it, a few posters all started off at the same time, it gives good examples of the type of mistakes easliy made too.

www.mumsnet.com/Talk/legal_money_matters/2898534-matched-betting-tell-me-more

[Frouby]

It's easy enough once it clicks. But unless you understand what each number means on each bet it won't click.

I can whizz through quite a few offers now in about 40 minutes but it took ages to start with.

I didn't understand that the 'stake' on your lay bet wasn't what you lost, but what you took if that bet went into your exchanges, and that it was your liability you lost.

[titchy]

You absolutely need to understand the concept of laying a bet if you're to make money. The fact that you layed both teams at Betfair suggests strongly that you don't get it. Please please please don't do anything more until you understand this.

(You should have layed the team you put the Coral free bet on btw, and used the calculator to work out the lay stake - I suspect you've lost your £20.)

[TrentBridge]

Don't pick random sports like basketball either! You need to act like a "real" punter, so stick to premiership football or high profile rugby or something. It's better choosing a less good match than picking some random game that no one is betting on.

[piraterach]

It does seem like you might have got a bit mixed up on your free bet. You only need to lay on the team that you bet to win on coral. Eg. Coral - £20 on arsenal to win, Betfair - lay £x on arsenal (if it's a lay it means you want any result where arsenal does not win) then between the 2 sites you are covering all bases. There may still be time for you to rectify by cashing the wrong bet out on betfair (you might lose a small amount). I've not been doing it long but shout up if you're struggling 👍🏻

[Youcantscaremeihavechildren]

Eek I am so nervous, just placed my qualifier and my first bet... I'm so worried about the liability bit, spent 60 on bet fair... But I get that back either way I guess....

[Youcantscaremeihavechildren]

Should say I've been thinking about doing this for ages since I learnt a friend does it, I work 4 days a week and have school hols off, may as well do something to make money in that time...
I did bet on basketball though. Oops.

[Newmum102]

Thanks for posting the previous thread, going to look into this.

[TwllBach]

I don't understand how I can be a decently educated, fairly functional human being and not be able to understand this stuff

[TwllBach]

...however, my Coral account has been credited with £14.83, so that's good....right?? So I'm actually only £2.85 down on what I deposited yesterday! Plus I've got 2 £5 free bets left on Coral. Now to check Betfair...

[TwllBach]

OH OH OH I made £5.61 on my Betfair account too! So I've made £2.71 profit!