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Original poster

Matched betting?! Tell me more...

999 replies

ExpatMrs · 08/04/2017 15:59

Just came across a good few MNers talking about it on another thread. I don't even know what it is but from the jist of the convo, there's good money to be made from having a couple of hours a day to do it... I have those hours!!
Can anyone enlighten me please?

OP posts:
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8
CalmItKermitt · 11/04/2017 23:32

I'm itching to get going!!

Babyiwantabump · 12/04/2017 00:00

In betfair does liability already include your stake?

My spreadsheet doesn't add up

smileygrapefruit · 12/04/2017 00:01

So I did the gala bingo offer tonight. Deposit £10, get £30 free....lost it all. There's no guarantee you won't just lose all your money on the bingo is there? Or am I missing something?

icclemunchy · 12/04/2017 00:07

I did this last year using bank of bets and earned about £150 over a month going slow.

Would like to get back into it leaving towards PA but is it worth it since I will have done at lot of the start up offers? Despite doing it for a while I don't really "get" it (part of the reason I don't want to use bank of bets again is I never learnt what I was doing just used the calculator!)

GrimDamnFanjo · 12/04/2017 00:24

Apparently there is some risk to bingo according to oddsmonkey.

GrimDamnFanjo · 12/04/2017 00:33

My qualifying won at the exchange. I'm a bit fed up of the liability £ as I hadn't really factored that in. Fingers crossed my free bets will arrive tomorrow.

GordonJacobs · 12/04/2017 06:54

Use smarkets where you can, the commission is less than betfair (or used to be anyway)

Watch the bingo/casino offers. First rule of matched betting should really be that you don't ever really put yourself at any risk, that it's not gambling because you gain whatever the outcome. Also if you've got an addictive personality maybe steer clear of the casino ones...

GordonJacobs · 12/04/2017 06:57

Also watch out for a bet not being matched because there's not enough in the market at those particular odds at the exchange (especially on less mainstream events), that can mean that your bet can't be placed completely at the exchange and can mess things up if you've already done your back bet at certain odds.

GordonJacobs · 12/04/2017 06:58

Ooh Talking about it is making me want to do it again! Used to do it in naptime when on Mat leave, sadly now don't have the time. Also didn't like having to commit so much money to cover potential liability at the exchange.

MissFitton · 12/04/2017 07:43

Thinking about the whole "you must have to do this for hours to make any money thing....

5x bets a day (should't take too long once we've got the bank and the hang of it) Make a conservative £15 from each bet. Do this 5x days a week That's £375 per week, £18750 per year (allowing two weeks off!)
Even with £10 from each bet it's £250 per week/£12500 per year.

Sounds good to me!

Frouby · 12/04/2017 07:52

My cousin does this and has given up her fulltime job to focus on it. She keeps telling me I need to do it.

She has made an alarming amount of cash. She was earning about 25k a year feom her job and now earns the same but tax free so more really.

I really need to get set up.

MaidOfStars · 12/04/2017 07:57

I have an hour commute each way - this is perfect to fill that time!

MrsWombat · 12/04/2017 08:00

There is a daily list on PA of the offers you can do. Yesterday's came to £43 but involved placing 10 bets earning £1, £1.50, £3, £4 for each one plus other stuff as well like one of the casinos is doing a free spin a day at the moment. So yes there is a bit of leg work!

MaidOfStars · 12/04/2017 08:01

And I'm going nowhere near bingo/casino stuff until I feel completely expert in regular matched betting AND I've hammered every single newbie free bet from every bookie I can find. I figure that will keep me going for a while.

MaidOfStars · 12/04/2017 08:05

Has anybody paid a sub to PA or Oddsmonkey?

Elmersnewfriend · 12/04/2017 08:39

Hi Maid - I do (and that's 18 months down the line). I find it's worth it as nearly every month they will direct me to an offer (generally slots, I must admit) that will win me the subs fee back.

CalmItKermitt · 12/04/2017 08:40

Right so a question.

We go for low odds (2.5 approx) on our qualifier, to minimise loss.

On our free bet we go for odds around 5, to maximise profit.

So why can't we go for higher odds to get even more profit, assuming that a) we've found a matching lay bet and b) we've got enough funds to cover liability??

CalmItKermitt · 12/04/2017 08:42

I STILL can't grasp how the free bet makes a profit! 😳😳😄

IfYouGoDownToTheWoodsToday · 12/04/2017 08:43

I'm going to start this next week as I have a day off on Tuesday so will beable to devote the day to it. Following how you're all getting on though!

HeavenlyEyes · 12/04/2017 08:44

the free bet makes a profit because you are not risking your own money for the stake. Either winning in bookie or exchange it is always profit if using a free bet.

Calm going for silly high odds attracts bookies to see you are matched betting and risks you losing your account.

IfYouGoDownToTheWoodsToday · 12/04/2017 08:47

Because you haven't PAID for the free bet, *Calm. That's was free money.

MaidOfStars · 12/04/2017 08:47

What ^she said.

Low odds with your own money, silly high odds with the free cash = flag!

Babyiwantabump · 12/04/2017 08:57

I'm finding the team profit website very helpful this morning

CalmItKermitt · 12/04/2017 09:04

I've just been having a practice with the ofdsmatcher, getting used to switching between the coral site and Betfair etc. Just feeling my way around so it starts to feel more familiar.

I've got plenty of free time to devote to this and tbh even £100 a week would be fantastic! Im trying not to get excited 😳

KosmoKramer · 12/04/2017 10:43

So I want to do the free spins that PaddyPower keep emailing me about?