Can anyone talk me through matched betting?

[TidyDancer]

I would search for a thread because I know it's been talking about on here a lot but unfortunately the search function is not cooperating at all.

I need a bit of a beginners guide to it if anyone who has done it would be kind enough to give me a rough overview!

Thanks in advance!

maxbabi- can you tell me eg the first 3 things I should do to get started. I know nothing apart from this thread Thanks!

Night I'd say the first 3 things are to set up a dedicated email address, set up or allocate an unused current account (it gets terribly confusing otherwise) and allocate £100 as seed money.

Thanks Countrylife!

I think I might give this a go too. Is it possible to start with less than £100 though, and just build up profit more slowly?

Forgive this question as well, as I know nothing, but do people physically go to the bookies or is it all done online ?

@eggofmantumbi yes £25 is the minimum but it is a lot slower

@Nightnight123 online

Just laid my first 2 bets depositing a smaller amount, will stick with that until I get the hang of things!

I am very interested in this too. So do I need to set up an online account with a bookies? I have £100 I can start with. I will look at TeamProfit website and see how I go.

DH and I have just started this last night we are doing it together as it's quite confusing. I've watched all the tutorials and I'm ready to bet but I'm worried when it tells me i need money in Betfair to cover the liability, I assume I use my own money there? Then after you've done that it says to either start with £25, £100 etc so then that's more money? I'm confused at that bit as I don't have that much to put in...?

@Doseydots yes :) exchange account and bookies

@readyforchangenow yes you need money to cover the liability, if you're doing small bets with low odds it's not much
I just placed a £10 bet and the liability was about £7 as it was low odds

Ok thanks @YesQueen I'll just start small then. How long do people spend on it a day? I desperately need money for Christmas do you think I could get £500 between now and then?

@readyforchangenow if you started now you could easily make £500. I have made £150 profit in a couple of months starting with £25. I am going through it quite slowly and it was very slow at the beginning as was not football season.
Doing it slowly has helped me to learn. As I started with a small amount it also feels less risky. Especially whilst getting to understand it. I've made a few mistakes but was able to sort it out. I think with more money and doing more offers at the same time it would be harder to spot mistakes and easier to get in a muddle.
I think you rapidly start making a profit too - i am following team profit on Facebook and am now half way though week 4. At the end of week 1 I had made about £5 profit, by week 3, was on about £50 profit. now am on £150 profit.

That's great thank you @pisspants

Does everyone use Oddsmonkey to choose their bets? I've been following Team Profit guides but they don't have a table of who to bet on like Oddsmonkey do they?

Well we've just put our first bet and lay bet on, took us over an hour to do it what a nightmare! Please tells me it gets easier 😭

@readyforchangenow much easier. I promise! My first one I was shitting it and still felt like I hadn't a clue. I chuck 5 bets on in the morning now before work whilst drinking my tea
I do recommend oddsmonkey for their oddsmatcher, it makes life a lot easier

Wow! 5 on a morning! That's amazing. I can't believe how long it took us to put one on and yes I feel like I've done it wrong.

I think I made a small error in that I only needed to put enough in Betfair to cover my liability (£1.10) but I put £7 in thinking I needed £5 for the lay bet and £1.10 for the liability, but when I placed the lay bet they only took £1.10 from my account... anyway it isn't lost I suppose so no harm done. Now just have to wait for the results of the match! Then onto using my £20 free bets 😮

It's honestly normal and I think why people give up and say "oh it didn't work/it takes ages" etc
I used Betfair for a good while but swapped to Smarkets when I signed up to oddsmonkey as it's 0% commission
Last month I did 109 bets which is fairly average for me as a lot of my profit comes from low risk casino

My tips are (some won't make sense yet, don't worry!)

Keep an eye on your emails for reloads like bet £10, get £5 as they sent me loads when I first started
If you see an offer that is totally free spins, you may as well do it because it's risk free
William hill scratch of the day is every weekend and worth doing, it's usually a simple bet X, get X
Skybet/skyvegas/sky casino are valuable! I only have skybet left (they removed offers on the rest)
Bet 365 welcome offer is the holy grail, and once you have the account don't lose it! They do a great horse racing offer but never ever do it as it's far too valuable, football only
If you don't use a spreadsheet, keep a note of your bets so you know how much and where your free bets are crediting
If you're not sure, ASK! The team profit FB group is good or post on here

And yes you end up with lots of accounts, try and keep sign ins the same so you remember them, I have around 60-70 betting and casino accounts open

'@readyforchangenow you will get much quicker, don't worry. I used to triple and quadruple check everything. I still am careful but the most important thing is to check there is enough money in the exchange so that your bet matches properly. Also that you are laying and backing the right team for the right match!
If you are placing the bets well in advance it is usually better as the odds are settled. But if you are doing it just before a game, they tend to be all over the place and it is much harder to do.

yesQueen what's the deal with low risk casino?

I've had wins off free spins & a few fairly large bonuses but the wagering requirement makes it pretty pointless.

I've heard you can make money but how?

@GroggyLegs
I only do things that are positive expected value (I use an EV calculator
Wagering is tricky. Some are 1x or 5x which is great, some are 30x. I do get through the wagering, usually with a big win and £1 spins
Big wins can come off tiny stakes, I got 5 free spins at 20p each (no wagering) and won £380 on one spin
If you're only doing things that are +EV, you will be up but there can be a period of losses
I do every offer I come across which can often be 10/15/20 a day, which makes me more likely to win as opposed to doing 1 a week
You learn which slots to use as well, so for your own money wagering you need a low variance, high RTP slot to minimise losses

I did sign up to team casino which is excellent if you're starting our, however I'm a way down the line and happy to go it alone. I would 100% recommend for anyone starting out though

Thanks YesQueen

I might do the free trial on tram casino. I never see low wager spins so I'm looking in the wrong place.

@GroggyLegs definitely worth it
Party poker, buzz bingo, Boyle casino are a few I use. Also the legs 11/Slotto group
Dunder is usually deposit X, get Y with 30 x wagering

So I’ve done my free bets with Coral and layed them with Betfair, just waiting for the results after the match tonight. I have £9 sitting in coral so far. Should I be doing something else now or waiting for the results of the free bets tonight? I haven’t signed up for anymore free bets yet. I’ve spent a total of £17 of my own money, £5 for the trigger bet and I’ve put £12 in Betfair to cover liability. I feel like all I’ve done is spend my own cash at the minute I can’t get my head round where the profit is can someone explain please? I’m a bit thick with it all 🙈