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

[SinittasDancers]

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.

@cheesesoftheworld did you used to have a username beginning with V?

Basically you've mistakenly overlaid. I can't screenshit but:-

Overlay
You could lay £30.00
Liability will be £105.00
Bookmaker bet wins £-15.00
Exchange lay wins £28.50

Its a shame the bet won!

*screenshot haha!

How long did it take do all the research to make it work? Do you need to be good at maths to understand it? 🙏

I'm going to try this on Thursday and hopefully make enough money to pay off my holiday next year! I've got 9 months to make £2k

Ahhh, I get it!! OK, I'm going to start again. Thanks all!

I’ve been doing it for a week starting with £25, I’ve made just under £80. I’m gutted at the moment because I messed a bet up over the weekend, I managed to fix it, turning a £10 fee bet into about £8.50 cash profit.....BUT, had I left the fuck up in place I would have made £160 😭🤦🏻‍♀️ Who would have thought a horse with odds of 17 would actually win!!! Fuming!

@fikel - I'm not mathematical at all. 2 hours to back and lay my first few bets. I'd recomend Team Profit then when you get into it, an Oddsmonkey subscription.

@onemorecakeplease, I bet you make that and more! Go fo it and report back!

Thank you so much might give it a go 👍

I used to do this, but I stopped a while ago. I made about 9k in 18 months.

I used Profit Accumulator, and it was worthwhile imo even with the fee - I learned a lot from guidance on the website and especially from their forum. But it was reading on MN that got me started.

Then I had to withdraw everything from my exchange for some big bills. I haven’t been able to go back to it ... but this thread is making me want to pick up the thread again.

Thanks I will do! I've been reading team profit and about oddsmonkey tonight

Does anyone have any links or guides on how casino betting works? I've seen the link above and will check it out.

I've only been match betting just over a week and have made about £80 profit so far, can I ask a silly question to people who are way smarter than me? My average profit per bet is about £12, even going for higher odds the difference in profit is pennies. We have a bank of about £100 in Betfair but do you think it's worth putting in more money (this would be from savings) in order to have a higher liability and bet on higher odds? Is that the only way to start earning a slightly higher profit?

Have been reading loads of old threads on Matched Betting as well as religiously reading the Save the student guide and I'm taking advantage of the week trial of profit accumulator.

Also do most people have a membership with profit accumulator or use another similar website? I'm finding the website really good and user friendly so will probably sign up but was wondering if anyone had any suggestions?

do you think it's worth putting in more money (this would be from savings) in order to have a higher liability and bet on higher odds

Yes, essentially. As long as you know what you’re doing, that’s the way to make more profit.

I’d build up slowly though. Everyone makes rookie mistakes so I reckon it’s best to let it happen gradually.

My memory of my early days is that I hovered around the £400 profit mark for what seemed like absolutely bloody ages, and I thought I’d never get much beyond that. Then it sort of picked up pace quite rapidly because I could afford to tackle bigger offers.

My average profit per bet is about £12,

On what size free bet? If £15 free bet then £12 is about the expected profit. If the free bet is £20 then it's not enough. You need to make sure back and lay odds are very close - certainly within 10% of each other. Place bets nearer the event start time - within an hour for horses, within 12 hours for football. Free bets should be at odds of 5.0 - 10.0. Less than that your profits too low, higher than that you risk drawing attention to your account. You don't need to put loads in the exchange if you're happy to take things slow to start.

Thank you 64 and titchy

I've got 4 bets cashed in from bookies so should be able to add a bit more to my Betfair account to give higher liability.

The free bets have mainly been £20 bets, one £30 free bet and a few £10. Reading your advice titchy I think it is the odds being too low. We've stuck to under 5 purely because of the higher liability required as i've been reluctant to transfer larger amounts from savings but I think I'll add an extra lump sum to start betting on higher odds.

For horse racing, we've only bet on football so far as we weren't sure if it worked exactly the same way as football bets or differed in some way? I tried googling but couldn't seem to find a step by step tutorial for placing a horse racing bet.

Horse racing exactly the same! Just bet on the chosen nag to win - don't click the 'each way' box in the betting slip!

You can use horse racing to minimise your liability - bet on a couple of different horses in the same race (at different bookies!) and you'll only ever have the largest liability ring fenced at the exchange because obviously only one horse can win.

So backing Bob at 5.0 with Coral and Harry at 6.0 with Lads, £10 bets for both - you could lay them both with only the liability for the £10 on Harry in your exchange account.

I sort of do it in bursts. I find it a bit all consuming when I’m doing it. I made £1000 April - July this year. Mainly all the little bits and bobs here and there add up but I did make a good amount on the b365 Cheltenham offer.

For me, as I have an addictive personality, I found it too easy to start slipping from true risk free matched betting and risk free casino offers, to advantage play (where there is a small risk but you stand to gain more than you might lose). The idea is that with the odds, over time doing low risk offers evens out and you profit overall but a couple of times I found myself ‘chasing losses’ on the online slot machines and doing a few extra spins beyond the free ones, which of course is what they’re hoping for!

One good tip is not to forget about cash back sign up offers. Eg some casinos have £20 cash back when you sign up and deposit £20. So you play through your £20 on blackjack (best odds) and you may make a bit or hopefully not lose much, then you get the cash back a few weeks down the line.

And once I was confident I did ‘borrow’ £750 from my savings as a float.

I would also recommend keeping a spreadsheet to track your wins, where your money is, what free bets you have to use, what accounts you have opened, and gubbings etc.

@GroggyLegs I do a lot of casino but low risk
Say wager £10 for 10 free spins. Yes, you could lose all your £10 and get nothing on the free spins (it would be unusual!) but I do offer after offer after offer
As an example I did one which was wagering £300 but it was technically low risk. The slot was a high return to player and low variance. I lost £150 which even the oddsmonkey/team profit people were stunned at. I quit for about an hour and then started again and ended the day only £50 down which I got back over the next couple of days
That's why they advise to have a decent bank before casino so you can absorb the losses. Generally I don't wager more than £50

@Relationshipsajoke I was betting on horses to come second as I do every day. Odds of 14, 11, 16 etc
I kid you not, they ALL won. Five in a row. If I had done an accumulator and stuck a £50 stake on I would have won 3 million
I consoled myself with the fact that would have been gambling!

@YesQueen I know! I keep telling myself I wouldn’t have normally done it but this is the sort of thing that consumes me!!! Can’t stop thinking about it 😩 I wish I understood the casino stuff, even reading what you just wrote looks like gibberish to me! I do the daily free spin on William hill and won £5 and something about 30 x wagering and in the end I just clicked off because i didn’t understand what I was supposed to be doing!

@Relationshipsajoke team casino is the best for casino stuff

we are hearing so many success stories - how much £££'s have people lost with this method of betting ?

@Montydoo, you can’t lose money doing MB as long as you follow the basic rules, because you don’t place money at risk in the first place. Every bet is offset by a bet in the other direction. The profit comes from using free bets and bookies’ promotions.

That said, people who do casino offers have to be careful not to go off piste and put their money at risk by being tempted to gamble. So in that sense, there is a risk of MB introducing people into an environment (i.e. casino websites) that is seductive and designed to draw you into actual gambling.

But that is exactly why any responsible matched betting site makes a real point of emphasising the importance of the rules, and of discouraging new users from tackling casino promos.

I already have accounts with several bookies including Betfair. Can I just start now or would I need sign up offers to make it work?