Tell me about Matched betting or other way to make money quick?

[BoobBoobBaby]

Keep seeing online that matched betting is a good way to earn a little bit of money for a short time. But I literally have no idea what it is or how to do it. The closest I come to gambling is buying lottery tickets, I know nothing about placing a bet, how to do it, what to pick etc. Is there an idiots guide somewhere to match betting? Is it really a quick way to make money, or do I need some skill at betting? Any other suggestions on ways to make some Christmas money?

@blueshoes no one asks for your passport numbers. I am not sure why you keep mentioning passports😁 don't worry no need for passport

I'd like to try this just to pay off my debts

@Applesandcarrots

i was asked for my passport by deveral
sites before they paid me out. It definitely does happen.

The money you win comes from either the betting companies or from other gamblers who bet at the exchange.

I didn't like being involved with that - but I was hypocritical because I did do it to earn some money

I was asked for any id only twice. Funnily these were the ones which were absolute pita!
Most are fine with standard checks.
I think they would accept bill or smth since having a photo id isn't required standard in uk

You're not reallly.

Your first bet to get the free bet usually loses. But that's ok because it's matched so you are down a bit. But you get a free bet.

You then place your free bet. Chances are you pick highish odds - but you match it.

Your free bet loses at the bookies. That's ok - it's free so they haven't lost anything.

Your matched bet wins at the exchange and you are up. Where did that money come from? The Exchange - which is another gambler.

Occasionally your free bet wins at the bookies. But not that often.

My point is @LydiaBennetsUglyBonnet is that not everyone is able to understand, you clearly have an issue understanding, so why the confusion?

I honestly can’t say I cared 🤷‍♀️ if I had a moral cross over every choice I made I’d never get anything done!

Because I thought gambling sites are legally required to conduct identity checks on anyone who opens an account under money laundering rules. Same as opening an account with a bank.

Betfair: support.betfair.com/app/answers/detail/a_id/72/~/which-documents-do-i-need-to-provide-for-the-identity-verification-process

I am surprised it is possible to open an account with identity checks. Maybe the site did not ask for a passport and they used other means of identification such as e-verification.

I am not worried about providing a passport and no one on this thread will be as they are legitimate. I am bringing up passports because once the site has identified you and then gubbed you, you cannot come back again (like with a name change) because your identity has already been verified.

not everyone is able to understand

So what? Such is life. If you don’t understand then matched betting isn’t for you. I still don’t get your point?

Re ID checks - I found that some of the lesser known sites only asked for it when I tried to withdraw large amounts of money. Then they wanted the far end of a fart before they paid out. I waited about a month before TonyBet paid just £90

You can't come back even if you try to name change. Most do just online verification.
They often have caveat about not allowing 2 people in the same address.
I've done it this summer, was asked twice only for some extra verification out of really many I registered to.

I advised my friend to try it, and she couldn’t set up accounts because it turns out her DH had set some up in her name as he’d had a bit of a gambling problem!

What a way to find out😳

I know, I felt quite bad but it’s better she knows I guess!

@Applesandcarrots that makes sense. The not allowing more than 2 persons from the same address is a good safeguard.

I had a go, it was fun. If you can get a separate bank account, number and email. As you get a lot of emails/contacts that can be annoying. I used a savings accounts so it didn’t show up on my bank account for mortgages/any financials I needed day to day. Also be very specific pedantic with a spreadsheet. List all accounts you’ve opened and your passwords, how much money has been used and payout due. Colour code and check bank account when money has been deposited so you don’t forget them.

Also sign up to top cash back and go through there for any sites they are promoting, some like coral had £40 bonus sign up and you could also use promotions. Use profit accumulator and stick to it and you won’t go wrong

In its most basic form, you open an account at two bookies.

bookie A says open an account, deposit 50, get a free 50 quid bet.

At bookie A you bet on team 1 to win.
at bookie 2, you bet on Team 1 to lose or draw.

gamegoes ahead, whatever the score, one of your bets win at one of the bookies.

bet 2: you get your free 50 quid bet from bookie A.

You bet one Team Z to win.
You lay the bet (bet on team z) to get beat or draw) and bookie 2.

either way you win from one of the bookies. But remember, this bet was a free bet. So you will have your original money , plus the free 50 that you can cash out, at either Bookie A, or Bookie B.

But the bookies are offering you free bets with the idea that you continue to gamble with them and lose money. Which as a match better you invariably don't. If I look at sky bet or paddy power accout I can see over the year I have roughly drawn even. If ten my first bet wins as often as loses as its lower stakes its the free matched bet with higher odds that mostly end up in the exchange.

It's like taking a promo from a subscription company and the cancelling before giving them any money. However like I said as it's bookies we're talking about this is not something I'm worried about

You need a few hundred ££s to put in your exchange account, a few thousand if you do horses (higher odds) in order to make a decent amount of cash fairly quickly. I started with £1000 and also did casino to build up my pot, it’s more risky but based on sound mathematical odds, my best day was an £800 win on a 20p spin.
I did it for just over 2 years and cleared £20k but eventually you get ‘gubbed’ by the bookies, I had 70 accounts at one point, It takes hours a day and you need to understand what you are doing.
The good days of making an easy £1000 on the Grand national or getting regular £100 free bets on 365 and sky are long gone.
It’s not the case of a £50 bet and a £50 counter ‘bet’ , your exchange ‘bet’ can be hundreds. Mistakes can be very costly.

t's like taking a promo from a subscription company and the cancelling before giving them any money. However like I said as it's bookies we're talking about this is not something I'm worried about

Yes - but when you place your matched bet, where do you think the money comes from at Betfair Exchange?

Well this is disastrously wrong, against the first rule of match betting and proof why if you rush it you will lose money.

You bet on Arsenal to win. You then bet on Arsenal to NOT WIN (this is called laying on the exchange)
Which is not the same as betting on Arsenal to lose (what about a draw?)

It comes from the gamblers but I feel the majority of people using exchanges are probably other match betters and if there not then they are people who are of their own volition gambling. If someone choses to gamble that is their choice it is not illegal in this country. The gamling problem in this country is not being driven by loses at exchanges but rather by a whole host of other social issues.

No the exchanges need liquidity in their markets which does come from normal punters - they get slightly better odds than at bookies which is why lots of punters do use them. But betting firms only exist to take money from normal punters, so if you have a moral objection to gambling then you absolutely shouldn't be doing MBing, or even the odd grand national flutter. I can't understand the mindset that says bookies are fine but the exchanges aren't - they're all part of the same industry.

Last time I suggested matched betting to make some cash I was shot down in flames .

No skin off my nose just money in the bank lol