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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
KosmoKramer · 09/04/2017 12:36

Right, I've done my initial £5 bet on Coral and my lay bet on Betfair.

I've used my £20 free bet already and lay bet.

I don't really understand the liability bit. Does it basically mean that it's he worst case scenario with Betfair? That if I have to pay the full amount to Betfair, this will be offset by the amount and profit made by my Coral bet?

KosmoKramer · 09/04/2017 12:36

And do I withdraw the full amount as soon as the bet is realised?

MissFitton · 09/04/2017 12:46

Thank you Kosmo for asking the same questions as me Smile

I hope to goodness I get quicker at this - that took me ages (and much clicking between tabs)

Am I right in thinking that you're best moving winnings from the bookmakers into your betfair account to cover larger liabilities? Therefore giving you the option of placing better bets and maximising a bigger profit? like I know what I'm talking about

MrsWombat · 09/04/2017 12:50

KosmoKramer - the liability bit is what you owe the bookies if you "lose". For example your £10 bet could win £27 but your lay bet will lose meaning Betfair will get £27 which is your stake+liability. (Rough figures from one of mine yesterday)

KingPrawnOkay · 09/04/2017 12:56

A group of us started doing it at work but most of us stopped after a while. It can get confusing and it's a lot of effort really, but I did make about £150 in a couple of weeks. My boyfriend made £600 in a month and the two at work still doing it have made over a thousand. I recommend signing up to profitaccumulator.co.uk, it costs to do so but it gives you step by step videos and shows you the latest offers.

KosmoKramer · 09/04/2017 13:05

Missfitton Grin

Wombat, does it just cancel each other out then? And end in profit if you've done it right?

KosmoKramer · 09/04/2017 13:06

Ah yes! Got it.

bblondemoment · 09/04/2017 13:24

When people talk of their start pot , do they put it into the betfair exchange? I've put aside £200 to start but is that where I deposit it into?

LettuceMash · 09/04/2017 13:25

Thanks for everyone's help so far.

Kosmo, did you literally say at betfair that you wanted to bet on "redrum" losing?

MrsWombat · 09/04/2017 13:32

LettuceMash - It's the Pink column on Betfair Exchange you need to look at for betting against "RedRum". Technically you are betting on them not winning.

RockNRollNerd · 09/04/2017 14:08

If it helps think of laying at Betfair as being the bookmaker (thier video here explains it). If you lay a bet you are effectively accepting another customer's back bet. If their horse wins you have to pay them their winnings (so eg your £10 lay might mean you have to pay them £35) but if their horse loses you get their £10 (and pay Betfair commission on your winnings - normally 5%).

foxessocks · 09/04/2017 14:09

Blatant placemarking!

bonfireheart · 09/04/2017 15:16

I feel like you're all speaking an alien language!

user0000000001 · 09/04/2017 15:53

user those are the free ones offered intitally. Once you sign up properly you get a massive list of offers to work your way through.

Ah I see! Thank you.

smileygrapefruit · 09/04/2017 16:23

Eek I'm all excited about making my millions haha. Just done the two free offers on profit accumulator, have to wait for the betfred free bets to come through but completed the coral one and won £18! Going to sign up to PA and get working through them...this is fun!

GrimDamnFanjo · 09/04/2017 16:29

been meaning to get into this for ages. Thanks for the links to PA

bonfireheart · 09/04/2017 16:30

Just watched a 15 minute video on the profit accumulator website and it makes sense now!

MissFitton · 09/04/2017 16:46

Another question! (sorry)
How do you keep a track on your winnings? I'm assuming overtime you'd have accounts with loads of bookmakers so how do you keep track of it all?

Thanks - this has been my most exciting Sunday for ages Grin

wheatchief · 09/04/2017 16:48

This reply has been deleted

Message withdrawn at poster's request.

monkeyfacegrace · 09/04/2017 16:48

I never do keep track of my winnings. I just know that there's a few ££££ in various accounts that I didn't have before 😂

Dangerismymiddlename · 09/04/2017 16:54

PA have some decent spreadsheets to keep track of profits, you can add in details if bets placed, qualifying losses, free bets due and profits etc.

I tend to only enter basic info and tally up bookmakers and account totals once a week otherwise it takes too much time that could be put to better use :)

donajimena · 09/04/2017 16:55

I've wanted to try this for ages. But I get easily confused. Is there a guide for dummies?

Dangerismymiddlename · 09/04/2017 17:03

If you have a look at profit accumulator, the first two offers are free and there is a video guide that takes you through it step by step

donajimena · 09/04/2017 17:50

Thank you x

Redtartanshoes · 09/04/2017 17:50

Place marking to read later