Matched betting continued...free money for all!

[monkeyfacegrace]

As the last thread is almost full, here is a nice fresh clean one.

In a nutshell, matched betting is a clever way of making ££££ from the bookies without ever having to gamble.

This is profit accumulator

This is odds monkey

Have read. TAKE YOUR TIME!

And enjoy the money

Hey Roly yes you need money in betfair and the liabilities can be quite a lot, especially to cover the free bets. But it's only tied up until the bet is settled just try to bet on things not too far ahead so you aren't waiting to get it back too long.

I'm not sure on the exchange bet, does it say in the t&cs?

You could always start using smarkets who give you 10 as soon as you lose 10

I am interested too! I have set up an online bank account, watched some videos and my next step is to join some sites!

I struggle with data and numbers so I am going to have to take my time!

DH has agreed to help me. I'm starting tomorrow, wish me luck!

What does it mean when a rating is over 100 and in red? I haven't got to that part of the tutorial!

Something odd happened to me today. I placed a qualifying bet for Man U to win, I laid against it at betfair. Man U won so I'm expecting a win at the bookies and a loss at betfair. However my lay at betfair is showing a win for me. Not sure what the bookies is saying (can't remember which one it was without checking my spreadsheet). See screenshot below

I realise now they count it after 90 minutes is up.

I'm Man U didn't win, it was a draw.

Heyroly I think that the red figure is what other posters have called a red flag event. I asked the same question upthread but don't think it was answered.

Warning Be very careful when placing bets. It turns out I did not qualify for my Betfred free bets/ The £30 I used was winnings from the horse that I thought I had lost . I asked someone on live chat to go through it for me last night and felt so stupid. Five minutes before I had placed my Coral £5 qualifier and for some reason went over to BFr and did the same £5 instead of £10.

I'm still £118 up though so giving myself a virtual slap for feeling grumpy about it.

HeyRoly - the red is when the odds are better on the lay bet than the back bet (other way round from normal) so that you can make a little profit off your qualifying bet rather than losing. The bookies don't like that though, so change the odds pretty quickly once they realise. I was trying to set one up yesterday but the odds changed before I got it all ready.

Also from your earlier question, the free bet at the exchange is when you back a bet there rather than when you lay a bet there, I would think.

I'm all ready to go but one question. Will this affect mortgage approvals etc? Even using a separate bank account? Or would going via PayPal avoid this? Do all or most sites accept PayPal?

Sorry, that was more than one question really!

Still catching up on the thread but I've been doing this for a week and am about £250 up. I like this

Im are you sure those odds are high enough to qualify you? Usually they have to be evens or above, from your screen shot you only bet on 1.26 game. You may find you won't get a free bet out of that.

sierra yes it can affect mortgages. They have to go through responsible lending regulations, and if your bank statement shows you have a gambling problem then they may flag it up. We can't use our winnings as income, so there's no point arguing that we make profit. Hence why a huge amount of people set up a separate bank account and keep it quiet. I've never shown statements for this account when buying houses

Thanks monkey. I've got an ancient account I used before DH and I got a current account together, probably barely used in ten years. Would it be a good idea to use this (I'm aware the bank will no doubt freeze it temporarily fearing suspicious activity, but they do that anyway with other accounts when I move money into isas etc so no big deal) or would a totally brand new account be better?

Monkey yes it was a William hill reload offer only needed 1.2 or higher

My current account looks awful but they haven't questioned it! I hadn't thought about the mortgage but I was going to move over to skrill if I keep going after the new accounts so hopefully that should stop it?

OverthinkingSpartacus, matched betting is something that your knowledgeable family member knows nothing about. Matched betting is NOT gambling, so all that knowledge is wasted. It matters not a fig.

If you think about it, people like that are actually at a disadvantage, because they have all this knowledge about teams and players and horses and odds - like an ordinary mug punter, because that's what they are. Not that there's anything wrong with that, but I bet they'd find it hard having to put aside all that to focus solely on ensuring equal outcomes.

I can imagine it, actually. 'But team A have won all their home matches for the past year! They have X playing, he's not missed a goal opportunity since he's been with A team! Why are you betting against them?'

Doesn't. Fucking. Matter.

My brother and BIL are regular bettors. They'd be TERRIBLE at matched betting.

Not sure if it's already been mentioned but when doing your Paddy Power bets don't lay with Betfair as they're the same company.
I used Smarkets instead.
Also,I've found the spreadsheet on the Team Profit site to be the best for beginners, it's really easy to keep track.

Ah didn't realise this can affect potential mortgage applications in the future? I must have missed that bit somewhere. Can somone tell me about skrill?

Are you sure sheriff - I managed to (inadvertently) place both a back and lay bet at Betfair on the same horse and both have gone through OK.

Anyone else follow the Oddsmonkey tutorial? I've found it pretty thorough (for a total newbie) but there's one glaring point they seem to have missed out, and that's how much of your own money you need to put into Betfair just to get started.

Unless I'm missing something?

I signed up with Coral and added £5 to my account. I placed my £5 qualifying bet on a football match with odds of 1.86 (they recommended sticking between 1.5 and 3). At the same time I put £30 in my Betfair "kitty" and £4.54 of that is on hold right now as my liability.

Now Oddsmonkey recommends using your £20 free Coral bets on a match with odds of 5 or more. I found one at 5.5. But with a back bet of £20 and a lay stake of £15ish that makes your liability around £75!

Why doesn't the tutorial point out that you need to deposit £80 into Betfair just to get yourself started?

Have I got this all wrong? I don't mind depositing that kind of money in principle, but I'm not sure whether I've misconstrued something. I've added a screenshot from the tutorial to show what I mean.

There's a post in the technical thread about red flags.

HeyRoly You can use your free Coral bets as four lots of individual £5. Your liability for each individual bet is lower, and you then run them sequentially i.e. allow each to settle before placing the next.

Bee
Very wise words.

It doesn't matter if you want to bet in the F1 market because you like F1.

We're not here to support any sport, we're here to make money

Ah, yes of course Maid, I don't ^have* to use all four bets together! It's just that Oddsmonkey recommend that you do, and I've been following them so faithfully so far. Thanks