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 back and back on this!

Signed up for Oddsmonkey.
Turned over a qualifier and free bet at William Hill on tonight's footy.

I've just put my £30 free bet on a horse race this evening. Still scares me having a £90 liability at the exchange but all will be fine.........
Will update after the race

Coral gave me £5 free for casino. I played roulette/red (house edge 5.5%) for £1 x 5. Came away with £8 total (£3 profit).

I have to turnover £25 of my own money before this can be withdrawn.

Thus I have started to formulate how to see value in free casino bets.

If you take your betting requirements - say, £100 own cash - and play roulette for £1 x 100, you'd expect to finish with £94.50 (house edge of 5.5%).

If you play with a free bet, you need to make £5.50 to break even. To make £5.50, where £5.50 is 94.5% of the total wagered, the free bet has to be worth £5.82.

So I think it could be fairly straightforward to work out which casino free bets are worth it.

Is it a problem to lay off bets at the same exchange for conflicting bets?

Eg I've placed bets on Against a Draw and against Crystal Palace for the upcoming game tonight.

It seems they have done some adjustment to it and the liability has reduced because in 2 scenarios I would make a loss?

I felt like a right numpty asking support because it looked to them like I was betting against myself.

So he said the liability is reduced?

Should I have avoided this at the same exchange? Do I even make any sense

No, you can lay against two different results on the same event at the exchange.

Because you won't have to pay out both sets of liability (because you can only lose one of the lays), the total liability removed from your balance will be the highest liability on either lay. That balance is sufficient to pay off the bigger lay, or the smaller one with some money being returned to you.

I felt like a right numpty asking support because it looked to them like I was betting against myself
No it doesn't. You lay against other people.

Thanks Maid yes that makes sense.

I had some monetary panic that I hadn't laid enough!

Well that went pretty well. My horse lost so I won at the exchange and am now a total of 36.00 up after two offers 😀

watching with interest - tempted to make a start, will only have about 100 quid to start with though.

Can anybody tell me please how to maximise profit - ie can you bet 50 quid and lay it - would that make sense? or is it always best to bet and lay in small amounts just to gather in the free bets?

and what do you do when you run out of free bets?

If your back bet is fifty quid then you need to have a LOT of money in the exchange for your liability. That's why most of us are restricted to smaller bets.

When the "new customer" free bet offers dry up, you start on the "existing customer" free bet offers

OK, So betting on the exchange requires a much greater outlay? How much, could abybody tell me how much was their initial pool?

I have about 200 quid spare, would like to give it a go.

200 will be fine - you'll just have to work through when money comes back in after bets clear.

My betfred qualifying bet just won at the exchange - should I wait until my free £30 bet has come through before I withdraw the £22.50 of my own money sitting in my account, or shall I do it straight away, before the free bet comes through?

I'm taking a few weeks break from my matched betting adventures.

I'm skint, signed up for Universal Credit a few weeks ago and haven't had any money from that yet but I started a new temp job yesterday and need travel fares, plus it's the end of the month and my phone bill etc is due.

So I've pulled my money out of the exchange and the bookies. Not bad for such a small start, I've been making about £4 profit a day for the last few weeks and it will cover my expenses.

I'll still be lurking on here and will be back to the betting once I've built up a starter pot. I'm also looking at getting a new bank account just for this.

See you all soon!

Gah, I appear to have made a 49p loss on my first free bet. Sigh. Will look at where I went wrong and try again.

Delete - did you change it on the oddsmstcher from normal to Free bet?

Sounds like the type of loss on a "normal" bet.

I wonder if that's what I've done too Tess. 72p loss in all when I take my qualifying bet loss into account. Although I did make a 96p profit on my other qualifying bet so it could be worse.

I'll give it another go, still waiting for my free bet from betfred to come through.

I didn't get my free bet from betfred because I didn't notice the minimum odds which the first bet required to be eligible to earn the free bet! I was gutted. It was only my second attempt at MB so I put it down to experience and moved on to the next. Wonder if that has anything to do with you not getting it yet delete?

@camperdene

The skybet offer I had was no deposit required free £10 bet on signing up.

I only did it yesterday I think too.

@Camperdene

Just checked and skybet website still says free £10 sign up bet, no deposit required.

Here's the link I clicked from Google

skybet

@banjaxedfecker

I started with a £60 pot for betfair for liabilities and about £40 for sign up deposits and qualifying bets.

I went through the sign ups quickly as my most of bets won at the exchange so I didn't need to wait days for withdrawals from bookies to clear into my bank to deposit for liability back at Betfair.

Haven't messed about much today, had two bets setttle that id placed yesterday, placed the second free bet sunset gave me and have made £20 today. I have signed up to 188 and placed QB, but am going to wait until my withdrawals are banked before doing the free bet, I still have £80 in betfair but have £70 withdrawing from three bookies, it gets confusing remembering what's to come in from where even with my spreadsheet :)

Anyone been going via cash back sites? I was going to start with the beginner's favourite, coral, last night, and had planned to go via top cashback or quidco. However, I didn't get the offer going that way - there was a different offer rather than the free bet. If I visited coral normally, rather than via a cashback site, the free bet offer reappeared. Grrrr. Maybe I'm just too greedy!

I did go via quidco but didn't notice that i had to bet £10 so i missed the cashback. I've got £20 coming from william hill.