Quick questions about starting matched betting

[Adventurer567]

1. Just watched the OddsMonkey video

• are they any good and do they charge for using them?

1. Do I need a separate bank account for matched betting? Eg should I open another current account with a different bank?
2. Can I do matched betting from my iPhone as I have a laptop but don’t use it and find things easier to do from my phone

Thanks! And any more info/ tips recommended!

I did the team profit opening guide, I made £250 profit but then kinda got bored and never got back into it.

Placemarking!

Place marking on this one as well. I keep meaning to get started and haven't yet!

Some of the higher figures people quote they make are for those who use multiple accounts (opening another bookie account in a friend's name) which is a whole other ballgame in my opinion.

This week I made around £100, but it's more usual for me to make around £30-50 a week. I could make a lot more, I've just been lazy the last few months. I spend 30 minutes to an hour doing it most mornings, if I'm off work I'll pop on for 5-10 minutes at a time 2-3 times per day, and maybe 15 minutes of an evening. If I get my backside into gear I could easily make £500 a month.

It's not a forever source of income - the first £1000 is the easiest from sign up offers, and whilst iMB is not illegal bookies don't like you doing it and will gub you (ban you from offers). At first it doesn't matter as there are so many bookies, but eventually making money gets difficult as you will be banned by most of them.

I’ve been doing this for just over two weeks and have made £140 already. If you are used to spreadsheets and reading data it is really easy. It’s easier to use a laptop than a phone as it is more fiddly to use the oddsmatching software but I use both. I don’t have a seperate bank account but I’m thinking of setting up an e-wallet for reload offers. Good luck!!

Yeah I make between £300-800pm but have diversified into casino (less gubbings!) so do maybe 80% casino now

I’m saving for a deposit at the moment and just looking for a way of adding to it - gonna make myself start tomorrow while baby naps!

Matched betting is not gambling but be wary of low risk casino. I did really well on that but started getting the feeling I was going to get addicted to it. You must be very disciplined. I still ended up around £10k in profit but decided to quit while I was ahead.

Y'see I find using my phone much easier! It's irritating that one a month I have to log on to laptop to reactivate my0% smarkets

Thanks @cavemum

Im in the Research Phase at the Moment. I’ll probably take the plunge in a few weeks when I’ve satisfied myself I understand it.

Pmk

I did about 7 weeks with profit accumulator. Made 700 after taking off initial investment, PA fees and some mistakes.
I can't see how someone makes 2k a month with "not much work" tbh. I still keep on free offers like william hill wheel and keep an eye on some good reloads. Occasionally hut 50 a week now. Usually 5 😁 But I am on it now really just 2 hours a week max. 30 min if it's the fiver week

I found it easier on laptop.
2 separate windows next to each other to see and compare odds quickly
Like
Window 1 window 2
Smarkets / PA calculator bookie

What are smarkets?- question for the beginners amongst us! Is anyone able to do a concise summary of how matched betting works?
This is so appreciated btw!

You might find the resources mentioned on this thread helpful;

www.mumsnet.com/Talk/legal_money_matters/3704762-Matched-betting-I-cant-understand-it?msgid=90447525#90447525

Smarkets is a betting exchange

Hi , can you do matched betting without doing the betting exchange part- I’m finding that bit more difficult to understand

.... ie can you just bet against the bookies and not against other people Thanks

You can but you’d have to Dutch the bets with two other bookies ( for football) pretty hard to cover the field of horse race. It’s way more complicated than using an exchange and you’d be unlikely to find a decent match.

With the exchange there are two options - back which on Betfair is blue. This is the same as backing a team for example Birmingham at a bookmaker ie you’re backing Birmingham to win.

You want the other column which is lay and pink on Betfair.

A lay bet is for them not to win ie for Middlesbrough to win or it to end in a draw.

So... if your bet at the bookmaker is for Birmingham that’s what you need to lay using the calculator at Betfair. (Birmingham is team 1 as they’re listed first and at home, x is a draw and middlesborough is team 2

You always lay the same as you’ve bet at the bookies so if you bet on Birmingham you lay birmingham. (There are exceptions later but that’s what you stick to starting out)

Get your head around the exchanges. Read the guides over and over. It's not gambling for anybody that thinks it is. You are not becoming "a mini bookie".

Also- I definitely don’t want to bet on any horses
Is it still worth my while for football and anything else? Thanks

You're not just betting, you are laying as well. It doesn't matter if it's horses, football, golf, the weather.

You don't need to follow the sport, bother about the results etc. The outcome doesn't matter.

I think you really need to read the guides a few more times

I get impression that people think it's best to start carefully and slowly- which makes me think you should be starting by placing only small bets?

BUT

I also have the impression that you make more profit to start with, and then it gets tougher as you run out of free bets or get barred- which makes me think you should start with large bets if you can afford it?

Can people advise me if it's worth making largish bets to start with in order to maximise your return?

Start slow. Having lots of money to invest at the beginning just means you can do more offers quickly - but the same number of offers are out there.

Don't do lots until you fully understand it.

@titchy thank you so much for your reply. So are the bets usually limited value wise anyway e.g a fixed £5 bet, rather than you deciding the stake yourself?