I’ve just started matched betting (and other thoughts)

[Relationshipsajoke]

So I’ve made the jump and started matched betting last night, I wondered if any other mumsnetters were also new to this and wanted somewhere to have a chat about it?

Whilst I’m here though, on the off chance anybody can answer the following questions:

How does a compass know which way is which?

And why do some people say “I could care less” when should the correct phrase be “I couldn’t care less” - as in I literally could not care about this any less than I already do.

Those are my random musings for now

I joined profit accumulator and did it for about a month but then ran out of sign ups and gave up. Made around £350 for not much effort though.

I've never really felt I understood this well enough to give it a go. But I'm going to hang around here and see if I can learn anything!

In my experience, matched betting has been a life saver, most especially during my recent maternity leave. It has helped to make up the difference in mat pay, and save for some family holidays.

I have now been doing Matched betting for just over two years-started off making a couple hundred in the first few months but after a short break and refocusing I now consistently make £800-1000 a month.
I'm happy to answer any questions on it

I'm totally new to this but thinking of giving it a go! Any tips where to start?

This is a gambling ad, shouldn't you be paying M N for it?

Matched betting isn’t gambling

I've decided to give it a go this week as well.

Well, I decided about two weeks ago, just haven't dared take the plunge yet

This is something I have thought about too but honestly have no idea where to start so if anyone has any beginners tips I'd love to hear them 🙂

I was supposed to start a new job on Monday but my dbs hasn't returned in time so will need to wait another month so will have some time on my hands now the kids have gone back to school to hopefully get my head around it.

For me I found the save the student guide the easiest
Team profit newbies Facebook group too

And no, it's not gambling

I've just started this to after a failed attempt a few years ago.
I've already messed up by not realising that I needed a large about with the exchange to cover any potential payouts. Then coral emailed me said my account was locked 🙄
I will be continuing but waiting for coral to sort out the issue and will be paying more attention to how much I need to cover the back bet.
I spoke to friend who has done it very successfully and they said they had thousands with the exchange to cover the back bet which sounds scary.

Could someone explain what it is. In very simple terms. I've never understood it.

With one bookmaker you bet something will happen.

With another book maker you bet the same thing won't happen.

Both events have the same odds at both bookmakers so when you lose at one bookmaker you win the same amount at the other bookmaker.

There is no way to lose money.

You make money because bookmakers give you free bets. So instead of the win/lose balance being equal one side is free.

I want to start this but am remortgaging in 2 months so need to wait until after that I think in case gambling sites trigger anything on the credit check!

Vitell how do you make so much money? My limited understanding of matched betting is that you use the free bets to make money. But I thought you only got £5-£20 worth of free bets so could only make incremental profits?

@Hobbes8 there's other stuff like reload offers, golden goal, 2ups, racing offers plus low risk casino

Hobbes8, yes most free bets (after you have completed the generous welcome offers) are in the region of £5-10. The key is to sign up to as many bookmaker sites as possible so that you can accumulate as many free bets.

As you build up your money and gain more understanding you can move on to more advanced things like YesQueen mentions.
Team profit website is a very good place to start especially their facebook page.

I've just started as well, using profit accumulator. I could really do with making a grand or two over the next few months. But anything really would be a bonus. @Vitell yes please would love any tips you can offer for those of us who are new to it.

It's not gambling😂 run by bookmakers

It's not run by bookmakers. Bookmakers hate matched betters, and if they suspect you of it they'll close your account.

Compasses have magnet in them which is attracted to the magnetic north pole. That's how they always point north as far as i know.

The other one is what happens when Americans try to use a British idiom without really understanding how it works.

Interested to learn more about matched betting tho.

Mentioning lots of betting offers - low risk casino anyone ?- for something not gambling run by not bookmakers. Like Coral's.

You use the bookmakers to make money. It’s quite the reverse of being run by bookmakers though. Bookies hate matched bettors and ban them as much as possible. But you stay sceptical it means there are more offers for others (and I made 760 yesterday on low risk casino....)

@longwayoff it's not gambling if you can't lose matched betting is risk free
You're basically exploiting the bookies free bets

Come on, someone start off with what to do then!!