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Matched betting.. Experiences(5 Posts)
Just a general wondering. I never spend any money on wasteful things. But keep hearing only good things about matched betting. Don't get me wrong I know there are prob bad stories too.
Just was thinking shall. I have a bit of fun and do a 20 bet?
I'm. Definitely tell type to not let things spiral as my mum worked in the betting industry for 20 years and heard also sorts of horrible stories.
There's a long thread in the money section on this.
It's not a matter of just placing a £20 bet - you need to really look into it before starting or you could lose cash. I did it for about a year and made £200 - £300 a month, but you do have to know what you're doing. As well as the thread on here there is advice on the money saving expert website.
That's not the way it works. You need more than £20 to start with as you need to lay the bet as well as place it.
Ive started very slowly. Since September I've made about £650 profit from an initial £150 investment. It could have been a lot more but I haven't had time to read up on the more complicated stuff (accas, price boosts, bingo, casinos) so strictly stick go the offers I understand. I also haven't taken anything out of my profit pot as it gets reinvested each week so it's not an 'income' yet iyswim.
There are lots of good guides out there, you need to read them, understand them then follow the instructions carefully before placing any money on anything. Start with moneysavingexpert then either oddsmonkey or profit accumulator, read, read, read, then go for it.
I agree that it's a slow start unless you have a decent amount (I'd say probably £500+) to start betting with. I've put it on the back burner for now as I just couldn't spend the time doing it with a baby/toddler. I had a few accounts scrubbed as I think the bookies are more onto match betting now as it's much more popular. You should do your homework on scrubbing and how to minimise it happening.
As with anything, to make a decent income it needs dedication and time, just like a regular out of the home job. I might start again when my DS starts school and I can do it without interruption. I moved onto match betting horses (faster return than football) and you have to be quick to get the matched bet, so can't just put it down and deal with something else.
I made a little bit before stopping and my profit paid for the match betting online access, so I had a little fun and wasn't out of pocket at all. I only made a few hundred before stopping (most of that was with the initial sign up bonuses not actual match betting).