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Original poster

Can you really make significant money from matched betting? how?

118 replies

SinittasDancers · 15/09/2019 12:04

I've seen a lot of people talking about matched betting as a way to make easy money so I've signed up to profit accumulator. Just waiting for my first free bet to settle, I think I stand to make about £20 profit. Scrolling down the other free bet offers, the profits available are pretty negligible - nothing over £100 and mostly £20 or less. People on here talk about making thousands on matched betting but I don't see how, unless you plough all your winnings back into bets, in which case you only make money when you decide to stop, presumably? As that's when you take all your winnings out? Is that right? I thought it was an ongoing way of making money that you could actually spend rather than just using as the stake for your next matched bet.

OP posts:
roseenglishrose · 16/09/2019 19:49

Yep Sinitta, we need to know the offer and what you placed and laid at (& any commission due to the exchange). It sounds like you may have done something wrong here.

roseenglishrose · 16/09/2019 19:49

Sorry cross posted

GroggyLegs · 16/09/2019 19:52

Yeah sorry Sinittas but you've done something wrong there. Your liability should always be less than your 'win' amount in free bets. Tell us your back/lay odds? Off the top of my head, they need to be over at least 6.0 second time around.

I've made £850 in six months dipping in & out and taking an extremely lazy approach. I'm having an excellent September as I've made £120 - I got £60 off free spins which was a surprise!2

It is what it is, if you've got time then there's serious money to be made. All I want is a bit extra to cover some guilt free treats for myself. I overlay super odds at the weekend mainly, so lazy!

roseenglishrose · 16/09/2019 19:52

Can you please say how much the free bet was in £?

These were low odds for a free bet and not as close as I'd look for either. You wont maximise your return here but I can see why you'd be cautious.

titchy · 16/09/2019 19:54

How much did you put as your exchange stake? Should have been just over £20 which would have been £70 liability not £100.

Did you change the calculator to SNR rather than qualifier mode?

roseenglishrose · 16/09/2019 19:54

Have you forgotten to change the calculator to Free Bet SNR from Normal?

HairyFloppins · 16/09/2019 19:54

Some of you have made brilliant amounts of money well done.

I have been doing it since 2016 and have made about 30k. Do it on a very part time basis and mainly only casino offers these days.

GroggyLegs · 16/09/2019 19:55

Sorry I've just put that through the calculator and actually, it should have been okay.

Not sure you've done there.

Original poster
SinittasDancers · 16/09/2019 20:00

Fuck. I'm a dick. I was distracted when I did it by screaming kids so obviously didn't do exactly what I should have. At least I've pretty much broken even but I'll try again and actually follow the instructions to the letter!

OP posts:
titchy · 16/09/2019 20:00

What I'm really unsure of is this money you have to have in your account to place a lay bet

The exchange enables you to be the bookie. You're telling the exchange what stake you'll accept from someone else, and because obviously the other person's bet with you could win, you have to have enough funds in the exchange to pay them out.

Like if you popped into Ladbrokes and put a tenner on Old Nag, you'd expect them to have the money in the till to pay out if it wins.

Original poster
SinittasDancers · 16/09/2019 20:11

so just to get this straight: whatever your stake is, if you have other money in your account as liability you will lose it if you lose the bet - i.e. you lose your liability when you lose the bet.

OP posts:
GroggyLegs · 16/09/2019 20:14

Don't worry - I'd imagine everyone makes a mistake at some point - I lost £60 once being a cocky idiot Hmm

I'd honestly recommend doing your first few bets really carefully, step by step, check & double check (without distracting kids present!) so you can really get the hang of it.

Original poster
SinittasDancers · 16/09/2019 20:16

Sorry, cross-posted, OK that makes sense then. Thinking about it, I used the same stake for both bets but looking at the calculator I should have only put 20 on the lay bet. in which case my liability would have been less and I would have made some cash.

OP posts:
GroggyLegs · 16/09/2019 20:17

Yes, if you lose your lay bet, you lose the liability.

But you should win the back bet with the bookie, and on free bets that should work out to be a bigger win than the amount you've lost.

Original poster
SinittasDancers · 16/09/2019 20:17

Another question - I've already signed up to a lot of the bookies on there so I don't have a massive amount of sign-up offers available to me. what do you do when you run out? can you carry on making money?

OP posts:
roseenglishrose · 16/09/2019 20:17

Its worth another go @SinittasDancers. You shouls always win more money than you lose in the exchange (if your bet wins). When you've just started though, you want all bets to lose to build up your bank in your exchange rather than having your profits all over the place at random bookies!

roseenglishrose · 16/09/2019 20:21

Sorry cross posted again!

Mummy0ftwo12 · 16/09/2019 20:21

@cheesesoftheworld do you do high risk casino?

Original poster
SinittasDancers · 16/09/2019 20:24

Thanks @roseenglishrose, but I'm thick - what does this you want all bets to lose to build up your bank in your exchange mean?? I just got scared and took all the money out of the two bookies I'd put the bets on with - was that stupid? Do you mean you want the lay one to win?

OP posts:
roseenglishrose · 16/09/2019 20:24

Yes you can. I was sceptical too and this is a question that is often asked, but you get into a weekly routine of bet clubs, some low risk casino, some reload offers, Super Saturday sky offers, bet £x get £x and it all builds up - for me consistently £100 per week.

GroggyLegs · 16/09/2019 20:25

HairyPoppins casino freaks me out!
The appeal of MB to me as a very risk-averse person is the certainty you will win.

I understand that casino is mathmatically worked out & people clearly make money but... It's scary!

Casino people...
Am I missing something or could you lose it all if fate was really unkind?

titchy · 16/09/2019 20:27

Thinking about it, I used the same stake for both bets but looking at the calculator I should have only put 20 on the lay bet. in which case my liability would have been less and I would have made some cash.

Yes that exactly it!

roseenglishrose · 16/09/2019 20:29

One is a bookie and one is an exchange (Betfair Exchange, Smarkets etc). Ideally you want your bank (your profits) to build up in the exchange so you get to a point

roseenglishrose · 16/09/2019 20:31

(sorry)...when there's only profits in there (& enough to place large multiple lay bets) and not any of your funds you've put in.

small2018 · 16/09/2019 20:31

I do MB, make around £500 a month around working full time with a child. Been doing it a year.

Made around £100 today! Not bad for pissing about on my mobile for a few minutes!