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

Forgive me, you have 4 x £5 so...

Back at odds of 3.10, 4 x £5 free bets at Coral

At Betfair odds of 3.25, your lay stake is 13.13

Your liability will be 29.53

If the Bookmaker Bet wins, your overall position will be +£12.47

If the Exchange Lay wins, your overall position will be +£12.47

Forgive me for asking but:

I've put £5 free coral bet on Dortmund tonight.
I worked out the bet price on the calculator so put £2.56 on betfair.

Does that sound right?

Sorry, I watched the video and made notes but now I'm confused!

Jesus, I'm not sure what the odds were when you put the bet on at coral but looked at current odds and the amount to lay at the exchange is currently £2.67 so sound about right

That's the thing to get your head around, the lay bet is you taking someone else's money effectively so you don't spend that but.

You win the stake plus you get your liability back if you win, if you lose you only lose the liability. But you get the bet winnings which should cancel that out and give you a bit extra.

That's the bit that took me a few days to get my head around then the maths makes a lot more sense.

Should I use all 4 of my free bets on the same thing though? Or is it ok to use them on different things? (Just thinking I'm an F1 fan so would like to do a couple of F1 bets)

I don't think it matters tbh as long as the odds stack up - that might be good for you as it builds up a normal pattern of betting in something you like?

Mine are a bit all over the place - horses & footie mainly.

I'm just starting out also and have been playing around with the calculator - if I put in much lower odds for the lay bet it comes up with a much bigger profit. Do the bets always have to be similar odds? I haven't finished reading up on everything yet so no money has gone out, which is probably a good thing because I'm still not totally with it!

Mrs cog you sound like me a few days ago, I'm starting to get my head around it now

Right well I've used a free bet to bet on Lewis Hamilton in Russia for a couple of weeks time and layed against it on betfair. All seemed to make sense and work with the spreadsheet!

I might 'waste' one of the free bets on a GE thing as a mug bet (is that right?) then use the other two on weekend football?

Does that sound ok?

I might 'waste' one of the free bets on a GE thing as a mug bet (is that right?)
No.

A mug bet is when you play like a normal punter and give the bookie a chance to take cash from you. They can't take cash from you on a free bet.

Mug bets are made with real money, and layed at the exchange to minimise your loss.

You don't need to mug bet unless you want reload bet offers from a bookie you've already taken a registration offer from.

The first thing to do is hammer every different bookie you can find for their new registration offers, which are much more simple to complete than reload offers and often more generous than reload offers.

I'm desperate to get started but got to wait till pay day next week. Aargh!

If I do this for an hour or so each day, is it feasible to earn a couple of hundred a month?

Knowing my luck, I'll just get my head round it and it'll be banned.

I've used a free bet to bet on Lewis Hamilton in Russia for a couple of weeks time
You're going to be waiting ages to settle this bet, which can make keeping track of things a little tricky.

And while you're waiting, you've tied up a chunk of liability in the exchange. If your float is not limited, knock yourself out. If that chunk of liability is going to prevent you turning over any further free bets, then you might want to think about making bets on events closer to the time you're working.

You could have chucked a free bet on LH in Russia in ten days time, rather than now.

I'll just get my head round it and it'll be banned
It's not illegal in any way.

And unless the bookies stop offering free bet incentives to attract new customers, it will remain a valid pursuit.

Ah great that makes sense - in that case I won't do any 'mug' bets yet then, and that also makes sense about using your own money.

I've only tied up about £3 on my LH bet and money not a massive issue although I take your point that it's hard to keep track over a long time frame.

Thanks so much - my aim is to make £200 by the summer to use for the summer holiday soft play/ice creams etc.

I've done the triple odds on first bet offer at 888 bet so hoping Juventus don't win because then I'll have to sort the next bit out!

I'm in 😀 and a bit confused....

So I have a fiver on a football match tonight at 1.75 (odds were better but I hadn't confirmed the bet so they dropped - first error) and layed £4.80 with odds 1.83. Its showing as matched - should I have checked it was matched before I layed the bet though?

With the freebie I've then gone for a horse at 13:1. Is the idea to go for as long odds as possible? If so why would anyone go for lower odds?

And who do I need to convince I'm genuine - Coral etc, or the one I'm using to lay bets?

The bookmakers, so Coral, William Hill, etc. Betfair, Smarkets and other exchanges don't give a flying monkey's arse that you're laying bets. They make money off you because you pay them a small commission.

Could you make a living doing this?

Ok people - what have I done wrong - (or right) here?

As a qualifying bet I bet £10 on Monaco to win (and they did), layed the bet at betfair and have lost the 21.80.

However I won £31 on the win so that makes me £9 in profit? Is that right? Have I not factored something in here? I must have made a mistake but a profitable one!

What were the odds at betfair MrsCog?

Is it because you haven't considered the £10 initial bet so you've actually lost 80p?

Ok me and dh decided this was worth a try so we have signed up to oddsmonkey and laid our bets. We will have a profit of £15.10 come Saturday but we will also have £16 from quidco for signing up to coral although we did have to put £10 in rather than £5. Im assuming i can cash that out in a few days.

Also wondering is it a good idea to set up a separate bank account?

3.25 to lay the bet danger 3.10 to back

Actually, had a look, I'm guessing they were around 3.25
So you placed £10 at the bookies and laid £9.69 at betfair
You lost the liability at betfair of £21.80 but gained 21 at the bookies as it includes your original £10
You made a qualifying loss of 80p