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?

youve totally lost me there maid but i take it thats a good thing?

(ive also got a bet on west brom but only my £10 free sun bet - then layed at bet fair)

youve totally lost me there maid but i take it thats a good thing
Think of it like this.

Betfair see that I've made two lays. The two lays are for the same event but for different results (result 1 and 2). I can only lose one of the lays and therefore one chunk of liability.

Instead of taking £26.35 for liability on result 1, plus £57.20 for liability on result 2. Betfair cleverly realise that if they take only £57.20, that will be enough to cover either chunk of liability.

It doesn't affect the profit outcomes of bets or anything. But it does mean that I have effectively covered two free bets elsewhere with a largely overlapping chunk of the same liability pot in Betfair. This has meant my Betfair account has more cash in it than I'd predicted after laying both these bets.

I don't have any other free bets hanging around to make (I'm going slow and sure here). But if I did, I have cash to lay them.

And the reason to put it here, aside form information purposes, is that it could be a really handy thing to exploit when Betfair funds are limiting (as they are for most of us at the start).

Don't have enough cash to cover liability for a free back bet elsewhere? Well, have a little look at what you can do if you place that free back bet on a different result for an event that you've already layed. You might not cop for the full chunk of liability.

I'm £96.50 up since 12 April. I'm a bit limited on the exchange at the moment.

Could we get this thread moved to Money Matters? It would be a shame to lose it...

This is such fun! I've got my free bets from Betfred placed at the moment, I think I'll move on to William Hill next.. Maid please set up a Facebook group for when this thread is full (you seem to be our leader/source of wisdom!)

As you have to use your real name on Facebook wouldn't we run the risk of being found out as MBs? Even if it's a secret group?

Aaah I have a reload offer already and haven't finished my start up offers yet.

Do I just treat it the same- it's bet £10 get £15 free bets

Oh never mind - I've found the tutorial on odds monkey

Place marking to look at this next week.

Who was the reload with Baby? I haven't had one yet and I've joined a few now!

Thank you very much Maid. I saw your post above just in time to work out I could use £30 free bets on Man U V Chelsea draw as my liability was mostly tied into that match anyway.

You're a superstar

William hill Dangermouse

What are reloads?

I've asked for the thread to go to money matters as I don't have FB so couldn't folllow over there.

So just another mistake Ive made, nothing major but I've used a £30 free bet and backed and payed it on a game that's not happening until next week... so my money is tied up till then ..... bugger. Just for others to look out for that

Thanks Baby, I've just done my qualifier with them, waiting for the free £30 to hit my account, look forward to the reloads!

Reloads - I get it now I've seen Danger's post.

I haven't received anything yet but I'm going to go back to my first two bookies tomorrow and do a couple of mug bets so hopefully that will trigger something.

My cash is mostly in the bookies right now so I need to try and build up my exchange so I can do a couple more each day.

Opps, seems like I meant Baby's post above re: reloads.

Aaah I have a reload offer already and haven't finished my start up offers yet.

Do I just treat it the same- it's bet £10 get £15 free bets

Yes, just the same Baby. Make sure you do your £10 deposit bet at the lower odds so that your loss is only pennies whether the back or lay comes in. So above 1.5, but still low, for the qualifier then above 4.0 for the free bets.

Ok so my match got suspended after a pitch invasion, not sure what happens now. Funds are still tied up at betfair and the bookies

Evening all,

We've had a few requests for this thread to be moved over to our Money Matters topic.

ExpatMrs, as the OP of this thread, it's up to you! We're more than happy to move it, just say the word. Just warning you, though, if it's left here in Chat, it will auto-delete in 90 days.

Same happened to me imnottoofussed

Quick q can I use part of my free bets to avail of higher stakes (trying to cover liability)

I have my free bets back at the bookies but my lay and liability is still held up at betfair. Hopefully they give it back soon as I've only done 1 free bet so far out of 4 sign ups.

Eden I think you are meant to use your free bets on odds of at least 4 or 5 to maximise profit but it requires a quite high liability so depends how much you have in betfair.

Hi I've been following and have made a profit of £74 however I have been working through offers on save the student and have signed up to betvictor I have received £10 free bet which I have auctioned but can someone please explain the following just so I can utilise??

I have free bet £10 in play and £10 accas

Thank you :)

Right, so too much consumed tonight yo work this through in my own head...

Have done very first £5 qualifying bet with Coral/Betfair and as a result, have a £20 free bet with Coral.

About to place my next bet (not tonight!) but I don't have a free bet with Betfair...

Does it matter? I can't work out how I make a profit when, if my Betfair bet loses, I've lost my money, not my free bet money.

Like I said... too much