Matched betting?! Tell me more...

[ExpatMrs]

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?

I'm off to open my bank account this afternoon 😄

I am very excited about this as it will be the first bank account I've had of my own since DH and I swapped to a joint bank account 15 years ago 😄

I won't be able to use it until I get the debit card though will I? 😕

DaughterDrowningInJunk Just different user names. I saw a thread on PA yesterday about someone who had their betting accounts hacked. Made me think that someone could theoretically guess a betting account user name from someones forum username and know there's lots of money in there, and a bit more stalking might give clues to a password or other hacking techniques. As for the bookies, if a MrsWombat has been posting on mumsnet about MB and there's a new client taking advantage of free bets called MrsWombat they will assume it's the same one!

Is Odds Monkey better than PA, or are they much of a muchness?

I prefer oddsmonkey tbh - cheaper too I think.

Thanks Heavenly

I have about £300 that I can throw at this but I am totally in the dark.
I have questions if anyone can spare a minute -

1. What does 'lay bet' mean?
2. What does 'back bet' mean?
3. What does the term 'liquidity' mean?
4. I have a fairly addictive personality. Is MB'ing likely to become a problem?
5. I watched the PA clip, but am still a bit . Is there anything else I can look at?

Thanks to anyone who can advise me.

If you sign up to oddsmokey for the free trial it will explain everything welsh

Apart from question 4 - it probably is addictive as it is gambling in a way- but the idea is that it is almost risk free . If done correctly you lose very little ( on trigger bets) and then make money on free bets

I've got a shiny new bank account 😄😄😄

Cant start MBing til I get the card next week though 😕

Will spend the time practising 😄

Thanks Baby

CalmItKermitt
OK, first practice session (not real).

I've got an offer of "Bet £20, get £50 free bet".

Tell me what to do.

Bookmaker Coral, exchange Betfair. Go find me a qualifier and then a free bet opportunity.

How do I change to decimals in Betfred? Anyone?

How do I change to decimals in Betfred? Anyone?
App or laptop?

Laptop please.

I did it on the app and it automatically reset them on my laptop.

I'll try that. Thanks

Form homepage, select the market you want. Scroll down and on left hand side, a drop box will appear in view, allowing you to toggle odds.

On app, you click your silhouette, then select Settings, and toggle odds format.

Welsh the odds monkey site is really helpful but I like tore beer it as:
Back bet - the one you make with the bookie
Lay bet - the one you make with the exchange
You back the same outcome at the bookies and the exchange.

On the exchange you need to be able to add enough money to cover the liability eg the amount you may lose. If you lose on the exchange and have followed the rules correctly you will have won at the Bookies and vice versa.

I haven't signed up to Coral yet but from the Oddsmonkey matchfinder.....

Lyon v Besiktas at 20.05

Coral odds of 1.5
Betfair odds of 1.52

Betting £5 at Coral and laying £5.52 at BF.

Liability £2.65

Will lose 15p

I'll have to do the next one later as off out but ok so far??

Thanks Maid found it.

Betting £5 at Coral and laying £5.52 at BF
Backing what result?

But in theory, yes, a good start, unless it's backing a really random result (which it won't be at those odds).