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?

Don't do it! Wait til your sober. And you need a certain amount in your betfair/smarkets, like a bank. You borrow/lay from them and if you lose it it's because you've won at coral.

@user0000000001- yep - wait until you're sober. Free bet with Coral £20 so you need to use whichever calculator you used before but in "SNR" or stake not returned mode, rather than "normal" qualifying mode to give a profit whichever way the match goes.

You're using the £20 stake that Coral give you - if it wins you keep the profits and they keep the £20 stake. You balance this by laying the bet in the exchange for if it loses.

You'll make a percentage of the free stake in profit (£14 would be reasonable). You pay commission if you win at the exchange too - 5% at Betfair and 2% at Smarkets.

You want to pick something that's about odds of 5 to maximise returns (if you pick odds of 2 you'd retain half the stake, I think so about £10). As the odds increase, the percentage of the bet you retain increases, but the higher the odds the more you need in the exchange to cover the lay.

If your £5 original bet won at Coral, make sure that when you make your next bet you pick the "free bet" tokens on your betslip, not the balance that you won.

Hmm I've been reading more and it seems it's not a long term thing... advice seems to be make a couple of grand from sign ups and reloads and then move on.

Despite ballsing up with William Hill yesterday and not getting the £30 free bets, they sent me a reload offer of bet £10 get £15 free, which I've done the qualifying bet for and now they've credited me with the £30 free bets as well as the £15!

Overall profit is £42 ish (excluding cashback) in 2 days. Once I've managed to build up a bit in the exchanges, I can go to longer odds and hopefully increase returns. Feel like I'm starting to get the hang of it a bit more!

Yay, Man U beat Chelsea! I'd overlayed at Betfair and would have been 62p down if Chelsea won, but I've ended up about £4 up at Betfair and lost a free bet at Coral.

Hi All

I'm new to matched betting. I've completed a few sign up offers in the last few days (about five) and I've made about £100. Two questions that I have are - how do you make the thousands that people talk about? I need £1500 for my hols and thought this would really help!
Also, how do you keep on making money after completing so many offers?

Thank you

I should have added so far I've completed
Paddy Power
Coral
William Hill
Ladbrokes

How am I not making lots and lots like. The thousand people talk about on this thread?! Any honest advice would be great. Sadly, I've been a member of bet365 for years so no welcome offer there.

I've done most of the sign up offers (apart from the difficult ones). I think as you go on you do get offers sent to you but you need more money floating around to do them because of rollover requirements etc.

There's a few bookies like Skybet who do a weekly betclub, for example. You bet £25 each week and get a free £5 bet (if you miss a week you have to do £40 to get back in). The free £5 bet might get you £3 and you might be able to use the £25 qualifying on one of their price boosts so you don't lose money on it. If there's say 5 offers like that a week then you might make £20 just from that, but you have to back and lay several bets, rather than in the sign up offers where there's less to do. Some of the bet clubs require you to bet on accas, which means even more bets to make/lay and if you're doing that sequentially you have to do it at a certain time, rather than all at once, which puts me off a bit. I probably just need to learn how to do it though.

I think people also do the casino and bingo offers, which aren't always risk free but can be weighted in your favour if it's a good enough offer. I haven't tried them yet, but I'd like to (need a dummies guide!)

Sorry if this has been asked.
I'm watching various YouTube clips
On PA.

1.why do lay and back bets?
E.g on bloke bet that Roger Federar would win then on his other account, bet that he would lose. Why not just bet on the other player?!

1. Where is the no risk with horses? At least with footie or tennis (etc.) it's just 2 variables (2 teams). There are loads of horses to prick from in a horse race!

Welsh
You need to reframe how you consider back and lay bets.

A back bet is for Result A to happen.
A lay bet is, in essence, for Result A not to happen.

There are not only two variables with football. How many possible results are there?

If you back A Team to win, then lay B Team to win, what happens if they draw?

With horses, you back Horse A to win, and lay Horse A not to win. Your lay bet covers any position that Horse A can finish in that isn't the winning one.

Remember: you back and lay the same bet.

Back A to win.
Lay A to win.

If that doesn't make sense, see my previous posts about what 'laying' actually is, because I suspect that's the sticking point.

Maid, thank you. That's very clear to me now.

Some you Tubers mention serious money to be made on the Bingo. Do you know what they mean?

With horses, you back Horse A to win, and lay Horse A not to win
That's misleading, sorry.

You lay Horse A to win, which is effectively betting for Horse A not to win.

So I got my money back in betfair for the suspended footy match yesterday and my free bets back from betfred. Just in time for a red horse to pop up on oddsmonkey woohoo so I'll be an extra £26 in profit this afternoon. So that's about £40 profit from 2 free bets.

I too am.confused by bingo (and casino) I've worked my way thro the free spins and won nothing, am reluctant to put money into them coz it feels like gambling!

I've forgotten to lay my free bet, so lost the £20 bonus

So, I waited until this morning before placing my bet and still fucked it up, betting both a free bet and £5 of real money!

Phoned them up and they were helpful. And voided my bet so I could start again.

Does make me nervous though... it's so easy to mess up!

BTW. I'm up for a Facebook group if one is being set up?

Also, I don't understand 'liability' on Betfair... I have a lay bet on with them (something like £15 stake) and it looks like they've debited the £50 liability from my funds (I'm really hoping so) ... why is that? If I lose my Betfair stake. I've only lost £15, not £50??

You'll lose it all at betfair if your bookies bet wins. So if your lose £50 at betfair it's because your + £50 at bookies

Aargh I don't understand that AT ALL.
And it's the cash that I cannot quantify that stops me from doing this.
The liability confuses me.

In 3 days in and £9 up at most. I'm shit at this. 4x sign ups done

Ok, thanks vertical

So you actually bet the liability amount when booking on Betfair, not the stake amount?

Think it's starting to make sense now. When you place a lay bet, you're not 'hiding' anything from the exchange... they know you're doing it to offset a back bet. You enter a particular stake (in my case £15), because the exchange odds are different to the bookies odds, so you're basically working out the equivalent bet?

But actually, in the same way that the winnings at the bookies aren't the same as the stakes, the potential losses (liability??) at the exchange isn't the same as the stake? It's just, I have to pay the potential loses (liability) upfront?

But, I'll either get it back if the exchange bet wins, or the bookie bet will cover it and then some?

Is that right?

Presumably then, people don't get gubbed for the match betting bit, per se, they get gubbed for only ever taking advantage of offers and not losing any real money?

Are you using an oddsmatcher? Are you using the right odds?

It was all absolute gibberish to me to start with. After watching and reading tutorials over and over again I still can't say I understand it all enough to be able to explain it efficiently to someone else. But I'm confident that I won't make mistakes.

The oddsmatcher tools actually tell you "Go to Coral and back this at these odds" and the same for the exchange. And tell you what your profit will be.

Go and have a play, entering different odds/amounts and picking qualifier and then snr so BUT NOT ACTUALLY BETTING! til you're fluent 🙂

Is that to me Calm?

Yes, I'm using profit accumulator.

The thing that Im trying to wrap my head around is that I deposited £50 in Betfair to cover a £15 stake/£50 liability, expecting my balance to be debited £15, and it's been debited £50

Sorry, no, that was to Allllllgoooone!