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 still have no idea how I'm doing but I know I'm not loosing money, think I'm about 20pound up, doesn't sound as good as the rest of ye.

I made a mistake on Stan James by not doing a 1.8 initial bet so had to do another qualifier.

Question - second time I've done an unmatched bet on betfair. It was matched pretty quick but I've no idea what I'm doing wrong. I always check the amount under the lay odds amount on betfair are greater than my bet . Anyone know?

I guess someone else laid a bet at the same time so they took the liquidity in the market before you could Eden. Generally a bet will go to matched - unless you are requesting odds and they drift in the opposite direction. If unmatched once an event starts you can relay at the new odds and calculate that too.

What is liquidity?

the sum below the lay odds - the amount avail for you to lay against if that makes sense?

If it hasn't been mentioned yet... always have both the bookie and the exchange windows up at the same time, fill in the details for both. Make the back bet and the the lay.

Thank you! That makes sense.

Can I just ask - when I sign up should I take advantage of quidco offers etc. at the same time? Or does that skew things?

Eden look at the far right column of the match/race you are considering on the PA Oddsmatcher page, the higher amount there is in that column the more likely you are to get it matched straight away.

You had to sign up through the TopCashback link for mine Mrs Cog - just check the T&Cs as some have a minimum deposit to qualify which is higher than what you need to qualify for the free bets

Not had any issues with free bets but e.g. Coral is put at least a tenner in and the free bets can't count towards this.

I've signed up to a few through TCB and got an extra 50/60 quid through that.

Has anyone taken any money out of betfair yet and knows how long it'll take for the funds to be transferred?

Has anybody signed up with Ladbroke and managed to get the odds displayed as decimal? I can see what to press, and have done so several times, but the odds remain stubbornly as fractions.

Ok, did a live chat with Ladbroke and sorted it.

I'm so jealous of you lot! I'm dying to get started! 😳😟

Ok, so I've deposited money into Coral and betfair.

So let's take tonight's Champions League game - Monaco vs Dortmond.

If I bet that monaco will Win on coral I need to go on to betfair and bet they don't win - is that right? Neither are showing me decimal odds yet.

Oh Gawd I've done it - just hope I've done it right! I have no idea what liability meant on Betfair - so I thought I was betting 9.69 - the lay stake, but then it said liability £21.80 and that's how much has disappeared from my account!

CAn anyone explain? Do they take the whole amount in case I have to pay out then they put some of it back later? Have I fucked up on the first hurdle?!

Mrscog Visit the technical thread to understand how lay betting works.

so I thought I was betting 9.69
This is the stake that someone else has put forward as a back bet.

It is not your money being bet

You are laying against 9.69 at whatever odds you had. This means you are promising to pay out against a 9.69 back bet to the tune of the odds x 9.69. You are acting as the bookmaker in this lay transaction. The money you promise to pay out if the 9.69 back bet wins (and you lose) is called your liability.

As the bookmaker, if that 9.69 back bet is lost, you take that stake. As the bookmaker, if that 9.69 back bet is won, you pay out according to the odds.

Mrscog here is the link to Maid's technical thread. It really is worth spending the time to read this and the last thread. Also make sure to watch the videos tutorials on PA.

www.mumsnet.com/Talk/legal_money_matters/2906429-Matched-betting-technical-help-for-our-MumsBetters

To change the odds on Coral look right at the top of the page, tiny white righting, to the left of the date and time.

Did you use the calculator to work things out for your bet?

From the technical thread, Mrscog

NEWBIE

Lay betting

This is a repeated sticking point for people trying to get to grips with lay betting - the stake value.

You are LAYING the bet, you are not MAKING the bet. The person making the back bet (in the ether, behind the Betfair interface) is putting forward their stake. You are promising to lay the payout (according to the odds), should that person's back bet win.

Repeat:
THE STAKE VALUE YOU ENTER IN BETFAIR IS NOT YOUR MONEY

And again, in bold:
THE STAKE VALUE YOU ENTER IN BETFAIR IS NOT YOUR MONEY

All you are doing is telling Betfair that you are willing to lay on someone else's stake, to the value you enter. You are promising to pay out on that stake value.

To make sure you're good for that payout, Betfair removes the value of the liability form your balance. After all, we can't have you running off before you pay out against that stake

THE STAKE WHICH IS NOT YOUR MONEY.

Thank you so much maid and spookle

Yes I managed to change the odds on Coral

and I used a spreadsheet to work it all out. I think I have done it right - and in good news I now have 4x£5 free bets in my Coral account to use before Sunday.

I will have to decide what to do with those and read some more tutorials I think!

Right so if Monaco win I will get £21 into my Coral account but the £21.80 on betfair goes as I layed against them winning?

If Monaco LOSE I lose the £10 I bet with Coral but I get £9.69 in Betfair

So overall I'm losing 70p(ish) tonight in order to get my free coral bets?

Place marking.

Mrscog

I just put the current Coral and Betfair odds into the PA caculator and this was the result.

This was for the £5 qualifying bet.

Coral 3.10 Monaco to win

Betfair 3.25 Monaco to not win

At odds of 3.25, your lay stake is 4.84

Your liability will be 10.90

If the Bookmaker Bet wins, your overall position will be minus 0.40

If the Exchange Lay wins, your overall position will be minus 0.40

Your liability seems a lot higher [conused]

Aha! You bet £10

At odds of 3.25, your lay stake is 9.69

Your liability will be 21.80

If the Bookmaker Bet wins, your overall position will beminus 0.80

If the Exchange Lay wins, your overall position will be minus 0.80

If you now use your free bets (place 3 x £5) on the same match as follows

At odds of 3.25, your lay stake is 9.84

Your liability will be 22.15

If the Bookmaker Bet wins, your overall position will be plus 9.35

If the Exchange Lay wins, your overall position will be plus 9.35

So minus the 0.80p you lost on your qualifying bet you are now £8.55 the richer.