To think that matched betting is not an easy way to make a bit of extra cash?

[SummerGems]

Not here to criticise those who do it, and I’m aware that moneysavingexpert and the like recommend it as a way to earn a bit of extra cash.

However,having looked through the process, it is clearly both incredibly complicated and involves a huge amount of work for ultimately a bit of return. Much like the surveys etc of old which were often suggested as a way to earn extra money.

I’ve done normal betting,spread betting etc, and matched betting is far far more complicated than either of those.

So although people clearly do make a bit of extra cash doing it, it also seems clear to me that they must spend hours and hours doing it in order for the small returns they make every month.

And obviously if it was that lucrative then everyone would be doing it and they’re not.

And yes, I count myself in among those as am desperate to make some extra income and due to health problems this isn’t currently possible..

The recurring theme I always see with matched betting is people asking "once the sign up offers are over how do I make money?" and "I have made £**ks on MB".
Yet we are never given details as to how it was achieved. The more you win the more chance the bookie closes off the promotional offers. A vast majority of the reload offers are speculative and not guaranteed profit. Those that are, are in the the region of £10-£20 at most. I can only suspect those winning huge sums are getting lucky on casino jackpots and the like. So the exception not the rule. It's impossible for me to see how you could make £20k+ from £10-20 free bets every week which are dependent on other outcomes. I think good money can be made from MB, but there seems to be a veil of secrecy about it. Much like the OP said, I can help think it involves huge contingency funds. Even at that, the betting exchanges can't handle huge sums of lay bets. I often wonder if some of the very successful people are only counting their winnings rather than balanced against outlay. Much like reporting turnover rather than profit. Anyway, this is my 2p worth on MB, no offence intended. It is an intriguing and fascinating concept. Please feel free to message me how to make my fortune!

@cbdquestion

I mean lose the back bet at the bookies and win the lay - then yes, you effectively transfer the cash to the exchange.

Some bookies do indeed limit you if they think you’re ‘bonus hunting’. But they rarely (as far as I can tell) refuse your money - it’s more likely they’ll pay you out and close or put limits on your account.

@m3lon

You just place the qualifying bet the bookie states. No advantage using more money.

You are looking for events where the odds of the back and lay are very similar and the subscription websites have calculators linked to the bookies which allow you to choose the best matches.

The closer the match the smaller the qualifying loss. The closer the match and the higher the odds for the free bet the bigger the profit.

@raconteur

There really isn’t - it’s just too hard to explain if you’re not ‘doing’ it.

Lots make money from 2up/14up offers, profit boosts, bet clubs, then the casino stuff.

It’s a proper grind - High transaction small profit.

Go look at the Team Profit website - it’s ALL there - literally no veil of secrecy.

there really isn’t a veil of secrecy is how that post should start.

I'm up £460 this month and nearly at £6k in total since starting in June last year. It is a great way to make extra cash (and tax free).

Yes - you need to invest time and understand what the hell you're doing. There are some people who think it's a get rich quick scheme, blunder in and lose all their money because they don't read the guides or watch the videos.

If you know what you're doing it's a great way to make money.

@Merryoldgoat

Thanks for the reply. High transaction, small profit. My experience if it is the high transaction amounts with Bookies and it's slow to get them back. For instance you lay £200 at exchange to cover a £10 bet. Bet wins, you win £210 (whilst losing the £200 at exchange). £10 profit, but you have to wait 3 days for the money to be withdrawn. Then you have to deposit a further £200 at exchange for next bet etc.

That’s why you need a big bank - you can take higher odds which means you are more likely to win the lay putting the money in the exchange.

I have around £750 just sitting in the exchange at current.

There are tricks you learn as you go along too. Say you've just spent your exchange on a weekend in Copenhagen and it's down to £100.

Liability on red rum is £95.

But running in the same race are desert orchid and shergar.

So at different bookies you place bets on those two horses.

Only one horse can win the race so each liability will "cancel out" the other.

So you can have 3 bets on one "lot" of liability. No need to wait for withdrawals.

I don't follow the benefit in doing this? To qualify for free bets at two different bookies or reload bets?

@peevedofportishead

What I mean is, so 3 bets for one liability, but where is the profit generated?

Same way as if you were only betting on one of those horses.

There are plenty of links in this thread if you wish to research.

We need to stop selling this folks - that's why the newbies went on LC at mfortune to ask about the withdrawal dance.

What I mean is, so 3 bets for one liability, but where is the profit generated?

Assuming these are 3 free bets, say one with Coral, one with Paddy and one with WH, then profit will be at exchange, or at exchange and bookie depending on outcome.

The advantage is simply if you have limited exchange funds, but most people who do this regularly keep a big chunk of money in the exchange, enough to do several weeks worth of bets. When it drops to maybe two weeks worth of activity witthdraw from bookie which gives you plenty of time for the funds to hit your account so you can top up exchnage.

that's why the newbies went on LC at mfortune to ask about the withdrawal dance.

I know right - grrrr!

I do it a bit.

It isn’t gambling.

It is risk free (unless you make a mistake).

The OP clearly misunderstands the whole thing.

I’m probably being really thick but I’ve just been on to betfair to suss our the lay bet side of things and it tells you your liability (assuming for if your lay bet loses) but it doesn’t show profit for if you win? I’m rubbish at this already

I'm working my way through the videos & trying to get my head round it!

Exchange profit is the lay stake!

So if you stake say £10 and the liability is £24, and you lose the lay you pay £24, but if you win you get your £10 back?

For example you bet £10 on certain odds that Manchester United will beat Liverpool.

Then you find another company offering a similar bet in the opposite direction - that Liverpool will beat Manchester Utd.

What happens if it is a draw?

So if you stake say £10 and the liability is £24, and you lose the lay you pay £24, but if you win you get your £10 back?

No. You get someone else's £10. When you place a lay bet, you are acting as the bookie. You take someone's £10 bet that Man U wins. If Man U does win, they get their £10 back and you have to pay out £24. If Man U doesn’t win, you get their £10 stake and they get nothing.

Then you find another company offering a similar bet in the opposite direction - that Liverpool will beat Manchester Utd.

The opposite to Man U winning is Man U NOT winning, which covers the draw. The opposite isn't Liverpool winning.

Exchange stake - this is what you win (less commission) if your lay wins. It's extra money into your exchange account.