Matched Betting

[RortyCrankle]

I've started this the absence of anyone else starting a thread on the subject and since the Chat thread will disappear in a month. Hope you think it's in the right place.

I'm still dithering which is annoying me. I've made a new e-mail - hope to get bank account this week. I keep looking at the different websites like Bonus Bagging and Profit Accumulator etc and can't decide between them. Put off by what Tawny said about Profit Maximiser and don't trust myself to do it without help so going for Bonus Bagging, i think.

I did my very first matched bet on Monday. Messed up on the qualifying bet and put two normal bets on a draw instead of a lay bet for one of them, luckily, it ended up in a draw so I actually ended up making about £60 in the qualifying bet instead of the small loss!!
Made £140 so far this week.

Can you explain the bingo offers for me please monkeyface? I have done about 8 sign ups now but only won £40. I've signed up £10 each time so I am £40 down. I don't know how I'm not getting it right so if you could give me some advice that would be great!!! I like the idea of the bingo ones, you can do them when the kids are in bed :)

Can you tell us what you are doing for the sign ups botof. For each bookies on the first bet you should break even (or close) across the bookies and the exchange. On the second bet you don't put any money in the bookies as you use you free bet, so across the bookies and the exchange you should make a profit.

Are you claiming your free bets for the second bet? Also are you getting the right lay bet on betfair? Are you adding up profits across both the bookies and betfair? I have lost in the bookies every time so far, all my profits are in betfair.

Not sure if any of that makes sense or is helpful or just more confusing

I am doing fine with the betting on sports, it's the bingo I can't get to work for me. I have been depositing £10, getting a free £40-60 and then buying max tickets to spend my money in various rooms to get it all spent.

Ah, sorry. I misunderstood Botof. I don't get the bingo at all. I might take some time to look into it a bit more though over the next couple of days.

I've just decided to chuck some money in my paypal account for this now as they all seem to accept paypal. I am thinking of getting a new fixed rate on our mortgage at some point this year and don't really want a whole load of bookies showing up in my statement history. I figure having paypal payments coming in and out can just be my ebaying account or something.

I really haven't decided how much I am going to carry on doing the matched betting, but I figure if I can set up something pretty self contained that is not going to cause any bother I can just do a bit here and there when I fancy or not as the mood takes me.

Jeepers - some of the offers that I've done have only been valid if you've deposited the money via debit or credit card. Make sure you check the terms and conditions carefully.

Good point garden. I'll have to keep an eye on that. I'm crap at reading the t&cs

I did post on the last thread so thought I'd join in here too.
I started late last year with £80 and my profit is around £1200 so far. Im probably a slower than lots of people, I lost my motivation a bit in January. I've been ticking over just on the reloads.

I had a good week with Cheltenham last week so I'm going to get back at it properly for the next couple of months. I'm only about half way through the sign ups, only done a few casino offers and haven't touched the bingo, so still plenty of money to be be made there.

I haven't used Topcashback for any of them so far, I thought I had read somewhere that they won't pay out if you use the free bet offers. Obviously that's wrong, so I'll make sure I do that from now on.

Finally received debit card for my new matched betting bank account today. Have joined Bonus Bagging and their first e-mail says :

We use Smarkets to lay off the bet so you make an equal profit regardless of the outcome. You will need to deposit £38.27 in to Smarkets.

Click here register and deposit £20.
freebets.gb.com/claim.php?bookie=betfair

Click Sports - Football - Friendlies 2016:Poland v Serbia Football - Friendlies 2016:Poland v Serbia - Poland v Serbia - Match Odds - Back Draw with £[email protected]

smarkets.com/sport/football/friendlies/2016/03/23/poland-vs-serbia
Lay Draw £[email protected] (£38.27 to cover)

If the bet wins at BETFAIR
Makes £14.44. This means you have gained an instant profit & will NOT receive the £20 cash refund. When you're ready for a new bet click here bonusbagging.co.uk/betsys/user/request_bet

If the bet wins on Smarkets
You lose £-6.28 but gain a £20 cash refund. Your total profit from the offer is £14.44.

I am completely lost. I thought the idea was to bet to win at a bookmaker and lay bet to draw or lose at exchange. Am I missing something? The above appears to suggest I back a draw on Betfair Exchange and then also back a draw on Smarkets which I believe is also an exchange. Is this normal? How does that cover Win or Lose?

Sorry to be a pain - its frustrating to be stuck before I even begin

When you back a draw you are betting that the game will be a draw and when you lay the draw you are betting the game won't be a draw.
I have just finished the sign ups on bonus bagging and its best just to make sure that you very carefully follow the instructions. After you've done a few you will get more used to it. I've moved on now to profit accumulator and although I'm no expert in beginning to understand it a bit more.

Matched betting is amazing! I invested £75 last May and my balance is now at £8345 its all free money. I signed up with these guys you get loads of support and guidance plus it's a great community check it out.

www.profitaccumulator.co.uk/idevaffiliate/idevaffiliate.php?id=5013

Thank Grinny but what if it's not a draw and 1 wins, 1 loses?

I think I'm being a bit thick about this.

Rorty your lay bet is just to say that they won't draw, so a win or a lose both count.

I started this a few days ago, I had been thinking about it for a while but your thread persuaded me to get on with it.
I have gone through six offers so far and with cashback have made just over £175.
I am waiting for a few games to be paid tomorrow before I carry on so I don't have to plug any more money into it.

Jps81 - I'm still working through Bonus Bagging (have stopped for Easter at £200ish up, having done 11 sign ups). It sounds like you've done really well, do you mind me asking how many bets you make per day/week and how much money you have going in and out at any one time? I've just done a series of 5 x £50 bets and, although I'm confident that I'm making money each time, it's a bit disconcerting having to put so much money in for each bet.

Hey can I join? I signed up to profit accumulator last night for the free trial but don't have a lot of money (ok no money) to invest until I get paid at the end of the month. Then planning on paying for membership and going from there really. Think I get the hang of it. I'd like to make a couple of thousand to pay off my credit card, is it possible to do that quite quickly?

Jamtartcustarrd - how quickly depends on how much money you start with and how much time you have to do it. I've made £1300 over 4 months, and I started with £80, which is pretty slow going compared to some. I haven't finished all the offers yet so my target is to get to £2000 by end of April.

Rorty - that's quite a complicated offer for your first go! Have you signed up for the free trial with Proft Accumaltor? They suggest Coral and Betfred as the first ones.

Thank Grinny but what if it's not a draw and 1 wins, 1 loses?

Back bet: Poland vs Serbia will be a draw
Lay bet : Poland vs Serbia won't be a draw. It doesn't matter which team wins so long as it's not a draw.

Thank you I'll have a fair bit to play with. Probably about £400 ish. It would have just gone straight on the credit card to pay it off but if I can use it to get enough cash to pay it off in one month as opposed to 5 then I'm happy just paying min payment (it's still in its 0% interest period so not costing me anything if I don't pay any more then min). Hopefully I can make 2k for April. I'm really excited!
Out of interest, why are people setting up seperate accounts for it?

I keep a desperate bank account To keep all the money away from bill payments. There's enough to keep track off without having to remember that I need to have £X amount in the bank on 23rd for the gas bill. Also means I'm only using my MB profits and not dipping into 'real money', which was important for me at the start. i decided to start with £80 just to make sure it works.

if you withdraw from a bookie it can take 3/4 days for the money to hit your account. During Cheltenham I had a couple of big wins bookie side. At one point I had less than £1 in the bank account whilst I was waiting for the money to come back.

*seperate bank account, not desperate

Can I join? . I started a couple of days ago. I literally had £20 to spare, so it's going to be slow going. I've done the coral and bet Fred ones, using bet fair as my exchange ( as per PA website). I've made a orbit of about £25.
I don't get the liability thing. DH has lost patience explaining it to me, anyone lay it to me nice and clear??
Also, as I'm skint, I need to withdraw any winnings, back to my bank, then back into the new offers. That's right isn't it? No other way to do it easily?. Is it best to leave my money in bet fair to accumulate for liability?
Brill to read some of the stories on here. I aim to pay our holiday off and make a good couple of hundred spending money

Lol at desperate bank account.. Yeah I've got one of theses

I started matched betting at the end of Jan and made about £180 in the first month, doing only a couple of bets a week. I'm with Profit Accumulator which is great as it walks you through your first few bets with videos and demos - that's in the free bets and in some of the beginner bets you get access to when you join up properly. When you've done a few it gets easier as you get used to the process but you still get instructions for each bet. They also have an oddsmatcher, a calculator to work out what your back and lay bets should be, and a forum. It's a one-stop-shop for matched betting. I also use the Ultimatcher spreadsheet (looks complex but really easy to use once you've set it up) to keep track of it all.

I can't understand how the Bonus Bagging email system that Rorty C&P'd above can work because if the odds have changed by the time you log onto the bookie and the exchange, all the calculations will be wrong.

voodoo - liability. In Betfair you're the bookie. You're taking someone's bet.

If you win, you get their stake (how much they were prepared to bet).

If they win, they get an amount based on what the odds were (the larger the odds, the greater the amount. This means that for higher odds you need more money in your Betfair account (liability) to pay them if they win. Betfair also take a 5% cut, which is how they make their money.

And yes, you have to wait for your money to come back to your bank account if it wins at the bookies, which can take a few days. I've found that the offers need you to deposit funds via credit/debit cards and you can only take the money out the way you put it in (check each offer though).

SoftKittyWarmKitty - the Bonus Bagging email has a link to a calculator at the bottom which allows you to recalculate if the odds have changed. You just put the new odds in and it generates the new values.