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

Blimey @titchy that's a good £ per hour 😁

Can I ask how many hours a day on average ? Is this on slots? And can you pm me an easy table to start on? Not necessarily for profit but for getting the grips of setting the bet amount and the lines? I'm asking for a pm so the other 5000 people reading this don't all head to that room/table too 😂

Time consuming yes. The profit comes from doing every offer available which takes aaages. I tend to play £5 hands of blackjack/roulette for wagering now to save time, and next one or two up from minimum stake on slots. Variance is higher but profit should be the same over time, and it's quicker! and less tedious

Oops assumed that was twitchy replying....try again

Blimey@vandrew4 that's a good £ per hour 😁

Can I ask how many hours a day on average ? Is this on slots? And can you pm me an easy table to start on? Not necessarily for profit but for getting the grips of setting the bet amount and the lines? I'm asking for a pm so the other 5000 people reading this don't all head to that room/table too 😂

Vandrews profit not mine! Mine average overs £1k a month though, which is ok given that I've been banned from loads of casinos/bookies. Odds Monkey 'low risk casino chat' thread on the community pages has everything you need to know including a spreadsheet! Well worth the subs imo.

happiness I'm really no expert! I just do a LOT of offers.
Can't really say anything else but minimum stakes, maximum lines. I tend to stick to £1 - £2 stakes.
as for the slot to use. all depends. I use gonzo,ted or jack and the beanstalk if I'm starting off with a small amount and need a big win to set me up for wagering, then usually guns n roses for wagering unless I'm really playing safe then it's just 50p or £1 spins on starburst

Just placed my bet365 £100 sign up offer across 2 of the matches tonight. All my float at the exchanges is now tied up so will need to wait until tomorrow to place some more qualifying bets, then hopefully place the free bets on Saturday when the qualifying ones have settled. If all goes right with the Betfair ones I should be £180 up overall after tonight.

@whereiscaroline

Don't ever tie up all your money like that If you can help it. If you lose on the exchange and win on the bet365 then all your money will be in bet365 as you lose the Betfair exchange liability. And you normally can't withdraw from the other betting site until you've completed the offer, so you need more money to put into the exchange and match the rest if your bets until the offer is complete. Then withdraw whatever is left in bet365.

Thats why you should start with the smaller one to build up a decent float without running out of money to play with

@whereiscaroline I've put off doing the £100 bet going to have another look at it tonight.

Well done for placing it, bet you were triple triple checking you'd done it right 😂

Bet365 are withdrawing their really generous offer at the end of this month, so try to build up your bank enough to take advantage of it in the next few weeks if you can. Good luck!

@Iaimtomisbehave1 thank for the tip! Just checking I understand correctly - is it irrelevant if the Bet365 bet is my free bet? I was thinking that if it won then I could just withdraw...

If you're on your free bet, then that completes the offer. I read it as you were still on the qualifying bet and needed the money tied up in those to then match the free bet later. If you tie up your money, and then lose on the exchange, all your float ends up in the betting site which can leave you unable to complete the free bet since you can't match it.

If it's your free bet then that's not an issue, so withdraw anything in bet365 when it's finished. And move onto your next site when it's back in your bank!

Sorry! Just re-read and realised I got that totally wrong! You said "more qualifying bets" and I thought for a minute it meant you hadn't completed all the qualifying bets for bet365... I now realise you meant for different sites!!!

Ignore me. My brain isn't working yet!

Anyone around? Newbie. Dojng my free Coral £20 bet. Mucked up. Ihave a horse with bookie odds of 5.5, exchange odds of 5.7. I needed to lay £15.93, giving me a liability of 74.87 and profit of £15.13. However, I mistakenly laid £20, giving 94 liability. Any idea what this will do to my profit line ... will it increase or decrease? Aaargh!

Can you cash it out? You can often cash out with a loss of pennies and then place the correct bet. You will just lose a very small amount from the profit you'd have got without the mistake.

If you can't cash out then with those figures, you're liability will leave you almost breaking even.

But if the horse loses, then you will make more profit than expected. However that is a gamble because it's not guaranteed.

Sorry! Every time I got the return button, it send the post so ended up split into 3 replies!

Thanks for reply Iaim. Not home atm so cant do anything but will see whether I can cash it out when I get back. Should I just cash out on the lay and then re-lay it? Such a silky mistake.. need to keep my eye on the ball a bit better!

Thanks for the heads up on the offer expiring @Tobuyornot99 I will definitely do it soon now.

Yup. Just go to the event page in the exchange, and if you can't cash out their will be a yellow box telling you hose much loss you will make by cashing out. As long as the odds havnt fine crazy, it should be a small amount. Then re-lay the bet with the correct amount.

Just placed my bet365 £100 sign up offer across 2 of the matches tonight.

@whereiscaroline I thought it had to be a £100 bet? Not split between 2 or more?

@happinessischocolate nope, it's just credited as £100 bet credits. Not sure if I've maybe signed up to a different off though, but that's how it's worked on my account.

*offer!

Yeah you're right, I thought you had to deposit and bet £100 on one fixture which is why I've been putting it off, but I'm wrong you just have to make the qualifying bets within 7 days of the £100 deposit 👍🏻

It’s going to cost me £6 to cash out. Liability has reduced to £81.81. If horse wins at bookies, I’ll get £110, and lose the £81.81 liability leaving me up. If he loses, then I win at exchange ... should that leave me just about even or up? I get the £20 back, right? So up? Help!