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

@TheSleeperandTheSpindle - doesn't matter whether you do 20 or 4 x 5, you just have to make sure you have enough to cover the liability if you're doing a bigger bet - I'd say one bigger bet is easier than 4 back/lay pairs. Follow the guides and do as you're told but you could also try putting some different numbers in the calculator to play with to see what happens with different odds and different amounts of free bet/ qualifier. If you hop between Normal and SNR mode you should see that you're laying less for the SNR version.

I've taken the plunge and registered this morning!
It's feels very scary.
I got my free 4 x £5 bets and had to put £65 in my bet fair exchange account to cover the lay. Have to keep reminding myself that it's covered either way and not a real bet.

Only thing that's bothering me is this - on my coral account when I click on my bets to show what I've bet on it doesn't show me what I might 'win' if I win my bet. Is that normal. Ie I bet £5 (free bet) but my return is empty, even though the odds were 5.0 so £20 if I win it's not showing that.

Hope I haven't messed up

Thanks everyone, even though I know it's not 'real' money being lost it still feels a bir hairy at the beginning!

Gardening on Coral you can only place one free £5 bet at a time so can I place the same bet 4 times to effectively place £20 and then just lay £20 at Betfair to cover it?

Right I did some playing around with the calculator (now it's on SNR ) and I've placed one of my free £5 bets which according to the calculator should make me £3.94 in profit. So if I do this with all of my 4 free bets I should make around £15 in profit.

Think I'm finally getting the hang of it, thanks everyone!

I've got my free betfred bets now so i need to wait for a match to settle later so i can use them. Exciting!

Do you have to adjust the calculator so that you can find bets 5 pounds or under?

I just wanted clarification on this - as at Coral you are only allowed a 5 pound free stake, so if you place 10 pounds for example are you using your own money from your float, and therefore negating any win/ benefit of the free bet?

@blankpieceofpaper. You should have 4 x £5 free bets to use. I think coral lets you put them all on the same event (not all bookies do). If you're using £10 of your free bets you use the calculator in SNR mode with a free bet of £10 to find a close match and work out how much to lay. At coral, place 2 of the free £5 bets on the event you're interested in and then do the lay at betfair. Don't use your own money at coral.

Can anyone help? I've got my free bets a coral but can't seem to use them. I've selected the free bet from the drop down box and then click place bet but says there's no stake. I'm worried that if I put the stake amount in it won't realise I want to use the free bet and not my cash. What do I do?

Holly you have to put in the stake amount and choose the free bet as well. It then uses the free bet .

Brilliant, thank you imnottoofussed all sorted now.

Place marking! I've been following this thread and the other thread for a while now, I've also joined a group on Facebook and I think I'm starting to get my head around it now. I think I'm going to take the plunge once Dp gets paid this week. I figured I'll only fully understand how it works by actually doing it and although I know it's relatively risk free I'm scared of doing something wrong and losing loads of money

Delete that's exactly how I felt - only started this morning and am waiting for my bet / lays to finish so I see can the outcome. I should be £15 up
Feels very scary even though there should be zero risk. I think it's because I'm paranoid I've messed up somewhere

I'll let you know how it goes

Hi everyone - I've completed my coral bets, and the Skybet £10 now and am 19.50 in profit - does that sound about right?

Welcome to the newest people - I'm 5 days in now and feeling less nervous each time!

Managed to convert the £10 skybet into £7.55 profit - is that quite a good conversion?

Delete - just make sure you read and reread and check and recheck. As long as you do that then you will be fine.

mrscog I've just started using my free £5 bets and I've made around £7.50 profit from £10. I'm not sure if this is good either but I didn't start with a massive float, which restricted how much I had to lay at Betfair.

I'm just thankful the money seems to be going in the right direction

Holy shitballs, just placed my first ever qualifying bet! I've spent days learning about it all and have finally taken the plunge. Here goes nothing!!

Can someone please work out why I'm confused this afternoon? I think I've gone numberblind

I placed a £10 free bet with William Hill on a horse at 5.5. The return was said to be £45.00.
The lay bet was a stake of £8.11 at 5.6.
The liability was £37.31.

The horse won, and I won £27.00 (not £45.00) from WH. Odds still say 5.5. Betfair shows the odds as having changed to 3.17, bringing the liability down to £17.60.

I've still made a profit, but how did we get from £45 (WH) and £37.31 (Betfair) to £27 and £17.60 respectively?

Why did the numbers go down?

Heyroly yikes that's a bit odd hopefully someone can explain.

I'm happy to report that my first round of free bets seems to have returned £14.72

Although I'm still a little confused how it all happened.

But I've checked and re checked and from a total outlay of £90 I've now got £104.72 split over coral and betfair, so it definitely worked.

Even at 15 profit a day that is nearly an extra 100 a week.

I've just looked again at my "settled bets" in Betfair and there's an RF icon next to this particular bet. Google says this means "reduction factor" but I'm still none the wiser as to why this particular bet reduced at the bookies and at the exchange

OK, here's the explanation for reduction factor.

Can anyone explain if that puts any extra risk on matched betting?

I'm guessing not as the backed bet is made using 'free money' and the lay bet is the one which is using real money. Or have it got that wrong?

Thanks everyone, I'm currently studying odds monkey videos and tips and will probably sign up at some point. Ive explained how it works to dp as simply as I can and he's happy for me to try and make us some extra cash so yay. Kind of itching to get started now but we are pretty skint till pay day.

I've just opened a new bank account and got my first £15.10 in the bag. Now i need to place my next free bet but I've chickened out until dh is here to double check what im doing! Too much pressure making sure ive got it right!

I have finally taken the plunge and used the Profit Accumulator site's reference guides. Its all a bit scary, but I think I understand the process (after watching the video a good few times).
Thank you all of this thread, I've been reading about matched betting for a while on moneysavingexpert, but couldn't quite muster the courage!