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

Check out team profit on Facebook - there’s also a long running thread in Money on here

Ok yesqueen and pistolknight. Good luck with it, I believe you.

I don’t need luck but thanks anyway😂

No luck needed :) it's just maths. I've been doing it around 10 months now

Yesqueen can you tell us what you do please?

I've been looking at doing this, but I just find it confusing. I've never gambled so it's all very new. I did join some slot thing I saw someone mention on here. I have me free £5 welcome bonus which is now up to about £9 but it's says I need to deposit now to keep playing and I I've heard it is really difficult to get your money out. Something like sending proof of ID etc, which seems Over the top given they are happy to take your money. Are bookers the same?

I've just started this too as I really need some extra cash. Not sure I did my first one properly to get the free bet but I will only stand to lose 25p if I didn't so I'm not too worried! Definitely starting out small in case I mess it up. It'd be really helpful if I could earn a few hundred pounds a month extra though.

@StellaBoo matched betting plus low risk casino
I used the save the student guide to start, then signed up tot oddsmonkey and joined team profit FB group and then went from there really
It took me ages to place my first bet and I rechecked everything loads but it's a lot easier now

what I'm not sure about with the matched betting is..say I've got £20 on betfair and £20 free bets ladbrokes...one of them is going to lose, if I lose on betfair I need to put more of my own money in right? or am I missing a trick here?

I've not tried yet, but looked into it a few times, just working up courage to have a go, because I'm not 100% convinced my understanding is right.

You place a free bet with a high street bookie. Say £5 on football for team X to win (they win, you win £10, they lose you're out nothing, because the bet was free)

You then lay the bet on the exchange site (act as a book maker) £5 for team Y to win, or there to be a draw. If team Y win, you win £10, if they draw you win £10.

The result then is bet cost you £5 to play,
Team X win, you win £10
Team Y win, you win £10
They draw, you win £10.

Profit of £5.

There are pages and pages of explanations, hundreds of videos showing how to do it.

This might be a silly question but how do you make larger amounts of money? I've managed to make a fiver but the other ones I've looked at I'd only be making £3ish each time. Is it a case of just doing lots and building up or is there a way to get bigger returns each time? (I'm happy to slog away at it, just wondering if I'm missing a trick)

@OD87K if you lose on one, you win on the other

@fromthefloorboardsup yes it's slow at first but then stuff like golden goal you can make a decent profit on, 2ups, low risk casino, horse race refunds etc etc

Thanks! I'm happy to go slowly

I’m starting this weekend, I’ve put a few things in place such as new bank account and email address but I know I’ll be triple and quadruple checking before placing first bets. If the bookie restricts your account can you still withdraw any winnings you’ve got with them?

Don't do what I did this weekend and forget to confirm your exchange bet! Didn't lose any money because I was using a free bet at the bookies but it was a waste of a free bet. Was so annoyed when I realised (too late)!

Can anyone tell me what to do with a free bet I have with the exchange?