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

I'm a bit about people earning vast sums from this - apart from a few? I don't know.

I'm going to keep on though even 50 here and there is a big help atm.

I think you aim for as much as poss by betting with higher odds PA say 5 and over - the higher the odds the higher the liability and more funds tied up. Think about 70/75% is usual for me.

@edengarden123 - if you're doing a free bet, the higher the odds the higher proportion of the stake you retain. For a £50 bet at back odds of 5 and lay odds of 5.1 you'd retain £38 ish and need about £160 in betfair to cover the lay.

Higher odds will give you a higher return - if we change those odds to 7 and 7.2 then you'd make almost £41 but you'd need £259 to cover the lay.

@TessTube - I've done about 30 bookie offers (over several months - keep giving up but I'm trying to keep going this time). I've made over £450 so far. I think you need to find regular offers that you can do to make you guaranteed profit. The faster you can make the bets and the more float you have then the more you can make.

Have had a go at a couple of risk free bet offers and they seem to be coming in ok, albeit with a slightly smaller profit margin as maid said above. I have ballsed up the netbet one and have to turn over £900 before I can take any profit out as well. Hoping that one loses when it comes in tomorrow and then I can be done with it!

I have been doing this since last Friday, so 8 days (although we've not done anything today apart from one sign up). I have made £350 profit from bookies, £5 on a free spin thing (no catches!) and £80 from cashback sites. I've signed up with 20 bookies so far.

BUT that's with me and DH both sitting working it all out every evening for a couple of hours once the DC are in bed. We've had a float of about £600 at its biggest, it has been around £400 for most of the week. So I think the bigger the float and the more time you have to spend on it, the quicker and larger the returns.

I am amazed at how quickly the jargon seems to make sense now, although without maid's brilliant posts, I'm not sure I'd understand it all quite as well.

What happens if you don't have a free bet on betfair exchange? Do you need to take all your money out? Sign up somewhere else?

@blankpieceofpaper - betfair is your exchange - where you'll be taking other people's bets to balance out the ones you're making at bookies. I think there is a sign up bonus, but I'm not sure what it is (and I think it's on "backing" not "laying").

Usually the first sign up people do is the Coral one. There's a free walk-through guide on oddsmonkey (and various other places). You put your own money in to do a qualifying bet, which will lose some money, but then that unlocks the free bet. The loss you're seeing is the calculator in the "normal" qualifying mode. Once you get your free bet you do "SNR" mode on your second back/lay pair and that will give you a profit whether the bookie or the exchange "wins"

Ok, thank you, I am getting it together gradually I hope.

Are the 15/20 returns on free bets only after they have had the stake returned for a while?

I am just using the oddsmonkey oddsmatcher calculator etc thing at the moment - and the SNR projected ones come up most often as around 5-7 pounds.

I'm waiting for my £30 betfrd bets.

I've made £5 profit, fucked up, it should have been £20 but I messed my lay bet up, am not too pissed off with myself, was my first try and as long as I'm up, then I'm treating it as practice,bother than my qualifying bet with coral, all my others have been win on the exchange side so all my money is in there, I figured I'd do the betfrd QB as it takes 48 hours for free bets to qualify and by then all my other stuff shall be finished and hopefully I'll have £60 to use as liability in the exchange.

Once that's settled I'm going to go premium.

I should also have £26 on cash back sites.

I'm finding it all absolutely baffling now I'm actually doing it.

I cant even find the matches I'm looking fir half the time.

Also on Betfair I can't seem to see the whole of my bet slip for some reason.

I'm finding it very frustrating.

Ah crap. I forgot about about cash back sites. I always forget about cash back sites.

If you have to use your own money as part of the free bet i.e. it says bet 10 pounds on whatever - but it is a £5 free bet = won't you lose money?

Argh have been forgetting about cash back sites!

I have really confused myself and I can't see how I can make a profit on my free bets....would anyone mind talking me through it (in very simple terms)?

I read all the guides etc and thought I understood, I even smugly told my DH that I got it all

Ok so I signed up to Coral and Betfair. Placed my £5 bet on Coral @ 3.2 with an expected return of £17. I laid the bet on Betfair @ 3.2 and put £5 with a liability of £12.50. Ended up 'winning' my lay bet so got back £17.35 in Betfair and qualified for the 4x £5 free bets on Coral. Not bad for a 15p loss I thought.

Now is where I get confused. If I go on Coral and place a bet, say Arsenal v Man City to draw @ 3.8 that shows £14 return for my free £5 bet. But if I go to Betfair and lay the bet @ 4 that shows a liability of £15.50. Doesn't this mean that if they do draw I will win £14 at Coral but will lose £15.50 at Betfair?? That means I'll be down £1.50 doesn't it?

I would really appreciate anyone taking the time to talk me through this. I feel so stupid (I'm a teacher ffs) but in my defence I have a 6 month old and haven't slept in a looooong time

yes but the £14 win is off a free bet.
so bet win at coral = £14 profit, (and loss at betfair)
if lay bet wins (so loss at coral) means profit at betfair

You also win what you laid at Betfair. Are you factoring that in?

I'm still confused though because if my Coral bet wins (£14) I will still lose £15.50 of my own money won't I?

So if I have £17.35 in my Betfair account but lose £15.50 of it that leaves me with £1.85. Add the 'free' £14 win at Coral makes £15.85 in total. Meaning I'm £1.50 worse off than if I just took my £17.35 from my Betfair account.....

I haven't forgotten the cash back sites, check with top cash and Quidco but so far the bookies I've signed up to aren't there.

Tess how will I win anything on my lay bet if I lose on that and win at Coral?

God I feel stupid

I placed a £10 qualifying bet with Paddypower last night on a match that happens later today but it would seem my free bet is available already? Can I go ahead and use it even though the qualifying bet isn't settled yet??

The sleeper, have you made sure you've changed the bet type to SNR? As you should make a profit from a 5 free bet and those odds

Sleeper - are you laying the same amount as you are betting?? You should use one of the calculators to work out how much to lay at betfair?
Tell us exactly what you are betting and where and we can try explain it to you.

@blankpieceofpaper - I think you need to read the walk through guides again. Each time we make a bet we lay it off at the exchange. The qualifying bet is done with our own money in order to unlock the free bet. Once we get the free bet we use the bookie's money (their free bet) to make another back/lay pair. The calculator has a SNR mode for this. Once again we bet on opposite outcomes so we either win at the bookie or the exchange. The maths works out so that we will be in profit by about 70% to 80% of the free bet stake amount. Taking into account that we lost a bit on the qualifying bet, you might get £14 profit out of a £20 free bet.

@TheSleeperandTheSpindle - are you using the calculator in the right mode for the free bet? It should be SNR (stake not returned) and should show how much profit you'll make on the bet - we pick odds of about 4 to 7 to retain more of the free bet.

@CalmItKermitt - yes, if your free bet's there you can use it.

@CalmItKermitt - it can be difficult to find things on the bookies' sites. I always find them very busy and confusing. Sometimes oddsmonkey takes you to exactly the right page (always does for the exchange side) and this can help massively time wise.

I knew nothing about placing bets before starting this so found a glossary site with some of the terminology (embarrassed myself by having no idea what 1 x 2 was or over/under goals). Reading carefully so that you bet on the HT result rather than the match odds if you're supposed to also helps

TheSleeper
Have you run your second calculation as a free bet? Those figures sound like you've calculated them as a qualifying bet.

Gah, how embarrassing! I wasn't using the calculator in SNR mode

I still don't understand where the profit comes from on my lay bet but do I have to fully understand it yet? Or can I just follow the guides and do as I'm told?

Also it is better to do 4 x £5 bets or one £20? Or doesn't it matter?