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 think (and I'm very new to this) that you can't lay a bet against the slots so there is no guarantee you'd win the free money back. With matched betting you have a bet on both outcomes so you cannot lose.

There are a couple of sites where that is possible, but the majority don't allow it so the 10 pound has to be wagered in slots to get the bonus.

The most you win is your bet amount yes if the odds are very long?
I'm not sure what you mean here, so I'll answer both possibilities.

1. Your outcomes are the same at the bookies and the exchange. You shouldn't win more with either bet, save for a rounded penny.

1. (What I think you mean) The longer the odds with your free bet, the higher % of it you can convert to profit. It's not a linear correlation though.

Odds 3 (2/1) - 66%
Odds 4 (3/1) - 75%
Odds 5 (4/1) - 80%
Odds 10001 (10000/1) - 99.99%

Can you spot how to calculate max % return?

So the % profit from your free bet converges on, but never meets 100%.

However, I haven't calculated what could happen if you bet at long odds on a red flag.

Casinos/slots etc.

Over the long term, you will make a profit. House payouts are around 95% of cash wagered. If you bet £10 own money/£10 free bet, you should make your £10 back and a bit more.

This all works on probability though. So the greater amount of cash you put in (real money), while accruing free bets that are at least 50% of the cash value, the closer your income will run to 95%.

wow Sun Bets is poor!! Just signed up to do the £5 qualifying bet, which I put on fine, now I don't have access to my account, I can't view any open bets (ie. the one I placed 5 mins ago!) and I can't for the life of me see how to change it to decimal!

How long did it take people's free betfred bets to come through?

Trying to decide whether to bet on a horse for this afternoon or football this evening

Betfred was about 24 hours for me

Thanks dangerous I'll do the footy for tonight then as it's a smaller loss

Ah I assumed slots would be a very poor payout - 95% sounds good though!

Am I missing something though here - if I use the PA or Oddsmonkey list of bets, they only list Coral and Betfred as i haven't signed up. Can I not just use their list, but go to another bookmaker, say William Hill (as I already have Coral and Betfred accounts) and get WH's free bets? The odds must be very very similar, and there are plenty of websites that do the pay calculations for you, so what is subscribing to PA going to give me?

You could, there's nothing stopping you, but bear in mind that there might be lots of calculators out there to work out back and lay bets, but you have to do the grunt work of finding matches. I tried it for a while and I was spending far too much time searching for things to bet on.

I'm having to pause what I'm doing for a few days as I can't withdraw anything from betfair and I don't want to use my credit card to put it in anymore money anyway. I stupidly didn't realise that I had to verify my card by depositing something, and I currently don't have the funds to do that without drawing attention to my oh who I haven't told about this yet...purely because he is a bit of a dabbler when it comes to gambling and I want to do this on my own terms and not risk him getting carried away with it all. So basically I'm stuck until I can get to a bank and put a fiver in my other account rather than transferring it out of our joint account!

I'm doing well so far, £108 profit since Thursday on 8 qualifiers and 7 free bets. Although minus £15 for my oddsmonkey membership.

Things I will point out that have tripped me up a bit:

Remember to use the right odds - qualifying bets usually have to be at least 1.2 some higher so read the tutorials on odds monkey or from the bookmaker.

Don't bet on things too far in advance as then your liability is held up at betfair.

Keep an eye on the use by date for your free bets.

Make sure you type in the correct stake on betfair, I've twice now slightly mis-typed by a few pence so not much difference made to the profit or loss but worth noting.

When sent reload offers make sure you follow the instructions - e.g william hill bet £10 and get 3x£5 you have to go through the link they send you to get the offer it isn't automatically applied just by betting £10.

If you see a red bet on odds monkey at low odds use it for your qualifier and you make a profit.

Remember to check your cashback sites as I keep forgetting.

I can't decide between oddsmonkey and profit accumulator. What have other people signed up to?

Oddsmonkey.

Team profit is an excellent site for free information. Check out their blog for useful guidance as to what to bet on each week and other useful articles. There are free guides and videos which are very clear as well as a free calculator. They also have a live web chat (person I chatted to was very helpful). Team Profit recommends Oddsmonkey over Profit Accumulator and on their site it says that they get a small commission if you use their link. They advised me not to bother signing up to either initially as all of the information I need is on their site for free.

If I sign up to a site, which I will if I carry on with this, it will probably be to Oddsmonkey because it is cheaper.

I'm just starting to plough through the Oddsmonkey tutorials. I am a complete beginner and have found it pretty helpful so far!

One question though, when they explain signing up with Betfair it says to leave the promo code box blank. Why do they say this when there are all sorts of offers you could sign up for?

I think I've won £170 on the Stan James slots with the 5 free spins

That's bloody brilliant Tess. Congratulations!

I'm not sure yet I'll have to see if it comes out!

Apparently it's true, the withdrawal is just waiting to come out.

So you get 5x free spins to use in the bonus part of the slot machines. I won 9.50 and in order to have the winnings moved to my account I had to wager 30x this - so I kept on going for about an hour and it appeared in my account.

Caution though - they use your real money before your winnings so if you do this make sure your account has no real money in it, then you are just using bonus money.

The bonus money only lasts three days.

As soon as it appeared I whipped it out!

What bookies will give you your free bets straight away apart from coral?

I just got a £5 birthday free bet from betstars which is very kind of them!

William Hill & Paddy Power.

Sky bet you start with the free £10

Thanks. Does it matter how much i put down as my qualifying bet as long as i lay it correctly at betfair? William Hill want £10.