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

Hi i am also new to match betting, and I wonder if someone can explain how you win the money? I have got my head around getting the free bets, and using them. Also laying the bets on bet fair, what I don't understand is if you offset one bet against another, how do you make any money, don't you just end up being even.

@Kaz2200

No. Because one of them is free so not your own money. Please just watch the videos; it's not difficult to understand once you've watched them and paid attention.

Is MB frowned upon? Like card counting in the casinos? 😬

A little. If a betting sites think a you're matched betting, they can ban you from taking part in free bet offers. But that's really because matched betters only do what is required for free bets, and the betting site won't make as much money from them as normal punters who bet regularly. You can stop yourself being "gubbed" like that by placing very small bets on big matches to look like a normal punter, and by only matched betting on big sports/matches.

Is MB frowned upon? Like card counting in the casinos?

Oh yeah big time - bookies will ban you once they work out what you're doing! 

Is there a link to the explanation video please?

Sorry this thread is so long to read through

Google profit accumulator and sign up for the free account. They have easy to follow introduction videos. I recommend the paid membership, but you absolutely don't need it. And you can get all the info you need and calculator for free.

OK so I know you expert's may get annoyed with us novices asking questions, but why do you place a lay bet on the free bets, surely you would win more if you didn't have to pay for the lay bet?

but why do you place a lay bet on the free bets, surely you would win more if you didn't have to pay for the lay bet?

To guarantee profit. If your free bet loses, you've made no profit. However as I said a few posts ago it is a decent enough strategy if you're doing quantity as when your bet does win you don't lose any in liability.

Right I'm getting there

Next question

How easy is it to withdraw your money from Betfair and from the bookmakers?

And do you withdraw all your winnings each time or leave some in each account? I understand the need to leave it in Betfair but the bookies?

It's easy. You should save a photo of a recent bill, a photo of your driving license or passport or birth certificate for verification. When you withdraw money, some sites will let you do it without verification but some will need to to send them photos of those documents to prove your age and identity. It's totally normal and safe; nothing nefarious is going on.

Thanks 😁.

I saw a comment previously about having to send Id in order to withdraw funds and my old brain equated that to having to stick them in the post before I could get my money 😂😂😂

I’m just going to have my tea and then I’m going to get going on BetFred. I feel a bit nervous that some people are giving it a go off the back of this thread!!

I’ve been trying to explain MB to DP and a few friends because I’ve found actually verbalising what I’m doing has helped loads in understanding it

I've downloaded the spreadsheet from team profit, it's excellent and I put the details in before making the bet and check the win/lose scenarios so it reassures me I've got my sums right. As long as I don't mess up on the liability on Betfair then anything else I can handle 😂

What happens if the football is a draw

Doesn't matter what the outcome is.

On the betting site (like coral, betfred etc) you would bet on Team A to win.

Then on the betting exchange site (like betfair) you lay bet on Team A to win. A lay bet is basically a bet against that outcome. So you're betting against a win; this includes them losing or a draw... any outcome which isn't a win for Team A.

So you've bet on all outcomes.

Please go watch the videos; then you wouldn't need to ask these questions and you can watch as many times as you need.

What do you mean Kaz? If you've bet Arsenal to win, you lay Arsenal to win. A draw means Arsenal don't win so you get your lay stake back.

Ah OK, I actually thought the lay bet was for the team to lose.

Could someone please post links to the videos?

If you search for matched betting, there are loads. The way I learned was with Profit Accumulator so just Google that and go to their site. Do the free membership and watch the tutorials.
I'm sure other posters can recommend other sites, but that's what I used.

I’ve been wanting to give this a go for ages. Can somone advise ... I want to open a current accout just for mb but am a sahm with no salary coming in. The only income into my current account is dla and carers allowance as I have a child with a medical condition. Many banks want a monthly payment in which I won’t be making. Am not eligible for the basic accounts, in some banks anyway, as I have accounts with other institutions which I am not closing and I don’t have a poor credit rating. Any suggestions what bank I can try as am getting dizzy reading terms and conditions!!

Am itching to get started but just need to sort account first.

Thanks

Have you tried banks like Starling or Monzo?

Thanks MissMalice, not familiar with either but have just googled and read some articles. Might just be the way to go - thank you! I’ve now closed about 10 current account browser windows and left those two open!

It’s months since I signed up for Odds Monkey but didn’t take it from there. Am going to go through the PA training videos again and do a paper based exercise for a day or two and then dive in!

Hi all just another quick question, can I leave the money in the accounts to build up to a nice amount or should I withdraw as soon as possible.

Not sure about bookmakers accounts but for the exchanges it’s best to have a higher balance in there.