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MN Matched Betting Society - all welcome!

999 replies

titchy · 04/06/2017 15:09

New thread!

OP posts:
Thread gallery
18
LemonadeWithACherry · 06/07/2017 14:16

I have been mb'ing for nearly 4 weeks now and have made about £400 which I'm very happy with. It's hard to say how long I spend as I am home all day and will place a bet, then have a mooch on here or fb, have a cuppa, place another bet etc but I would say 2 or 3 hours maybe. A lot of this is adding to my spreadsheet which is a massive pita and checking my records to see if there's anything I need to do. You do get much quicker at it as you go on.

Sidehustler · 06/07/2017 14:34

Wow well done! You are doing really well!
I will be able to spend about 2 hours a day on this hopefully.
I need to look into setting up a spreadsheet, so far I've written everything down in a notebook. Did you create your own spreadsheet? Or use a template? (sorry for all the questions!!)

LemonadeWithACherry · 06/07/2017 16:58

Oh don't worry about asking questions! I've asked plenty in various groups and still do! Smile

I use the TeamProfit spreadsheet. The TP fb page and site are very helpful and Jon who made the spreadsheet has helped me many times - and it's free! I don't know if it's my laptop though or spreadsheets in general but I find it really annoying - just clicking between the cells takes forever and scrolling up and down and finding the part you need is a pain. But you might find it ok, I'd never even used a spreadsheet before!

I really only use the spreadsheet to keep track of my profit so I might start just writing it down instead. It's easy enough to work out your profit and loss on individual bets using the oddsmatcher and calculator on OddsMonkey and then add it all up.

HeyRoly · 08/07/2017 11:48

I laid a horse last night at odds of 7.6. Liability is £65.54.

The race isn't until this afternoon and I've just logged into Betfair to see that the liability has been adjusted to 7.08 and the liability reduced to £60.37 (the difference has been returned to my account obviously).

Is this because a horse has dropped out? And more importantly, should I do anything to maximise profit now the odds are lower? It's now 7.2 to lay (backed at 7.5). Cash out and lay again to make a small arb, or leave it?

MsAwesomeDragon · 09/07/2017 09:36

I've only been doing mb for 2.5 weeks but I'm making pretty good headway into the welcome offers as I had about £200 to start with so I can go a bit quicker than the team profit guide suggests. Then one of the first few welcome offers I did gave me some free money on the casino which I used on slots and won £100! I'd been expecting to just burn through that free £10 and come out with nothing, so that was a nice surprise, and upped my float quite a bit.

I've now made £500 profit! In 2.5 weeks! Doing just an hour or two per day. I'm sure it will slow down once I finish the welcome offers. While I'm waiting for bets to settle I have been doing some of the risk free casino offers too, most of which give me nothing, but a couple of them have ended up with a profit.

I've already been gubbed on betbright :( They didn't even give me my free bet as part of the welcome offer :( I have been limited to 2.50 stakes.

KatyLovesKats · 09/07/2017 12:28

Hello everyone, I have followed this thread with interest and decided to have a go... but I am struggling! It looked so easy on the yesbets video but I am having a problem (or six!) Could someone tell me please what Win Market Only means on betfair exchange? I am trying to lay my bet on there but Win Market Only appears at the top of the betting slip window and I don't know what it means? Does it mean I can't lay, that I can only back?
Thank you!

AloeAloe · 09/07/2017 12:52

This might be the blind leading the blind but it means that you are betting for or against this thing to WIN as opposed to any other format, such as correct score etc. You are betting against the win on Betfair so you are doing it right.

KatyLovesKats · 09/07/2017 13:01

Oh thank you, Aloe Aloe, that's a relief. I'm taking a really long time to learn this! Didn't think I'd find it so hard... I have already placed a bet by accident and lost £9! Doh! Luckily I'd had a win on Coral so I'm still £2 up... and trying again with my free bets... I'll let you know how I get on!

MsAwesomeDragon · 09/07/2017 13:07

I think Aloe is right. Make sure you're using the pink buttons on Betfair and you're definitely laying rather than backing.

KatyLovesKats · 10/07/2017 21:48

Thank you, Ms Awesome, I seem to be (slowly) getting the hang of it now... not sure how long the "terrified of getting it wrong" feeling lasts!

GrimDamnFanjo · 11/07/2017 15:13

Just checking in. Ive bought myself a new Fitbit today with my winnings this week :)
I'm trying more casino offers. Taking it really slow though as I can easily see how tempting it is and the wagering requirements can really vary.

KatyLovesKats · 11/07/2017 20:50

Hi Grim, fit Bit sounds fab! I've only just started but Coral have emailed me about their "deposit £10 twice and get £10 free for the Casino" offer. Sounds too scary to even contemplate... Part with £20? I don't think so... Is this a typical offer do you think?

MissFitton · 11/07/2017 21:59

Just checking in too. Not much happening here. Had my first gubbing today - felt straingely affronted by it! Grin

Well done on the FitBit Fanjo, they can be strangely addictive too.
Katy, that sounds about right. I've largely steered clear of casino offers so far. I don't quite believe they could be any good!

HeyRoly · 11/07/2017 23:05

I'll do a casino offer if it's risk free. There have been a couple this week. Betvictor did a £10 cashback on losses offer (and I did lose and regain the £10!) and Genting have one today, which I made £10 on playing Blackjack.

William Hill also have a buy 2 x £2 scratchcards, get one free offer. I tend not to go for offers like these, because they're just a quick way to lose £4, but today I went for it and won £40 on the first one!

iheartpink · 11/07/2017 23:41

This reply has been deleted

Message withdrawn at poster's request.

OverthinkingSpartacus · 12/07/2017 00:23

If a casino offer has a +ev I'll normally give it a go, the forums on odds monkey usually say what the ev is but if not, there's an ev calcukater where you can work it out and the calculated will tell you if offer is worth doing. I won't do anything with a -ev.

I've made just over 300 profits for July so far and over £200 of that is from casino and bingo offers. I used to be nervous and avoid them but I'm more confident with them now and the more I do, the more I see the eve panning out.

iheartpink · 12/07/2017 00:31

This reply has been deleted

Message withdrawn at poster's request.

MsAwesomeDragon · 12/07/2017 07:10

MissFitton I felt affronted when I was gubbed too, even though I'd been warned that betbright gub people very quickly.

I've done a few casino offers, mostly risk free ones, but I've done 2 that were deposit 10, get 10 free. I've won £250 so far on the casino offers I've done, which I'm pretty pleased with.

HeyRoly · 12/07/2017 07:46

I tend to avoid the deposit X get X casino offers because I usually have such shitty luck I'm convinced I'll make a loss. What have you been playing Awesome?

MsAwesomeDragon · 12/07/2017 08:06

I've been playing slots, and only go for ones where the wagering requirements aren't too high. Anything up to x20 I'll give it a go if it's a 100%bonus with extra free spins, because my basic probability tells me I'll make a profit overall on those, even if a specific offer loses. The profit may not be huge (it's likely to average out at £4-5 per offer) but it will be there eventually. I don't know whether I'll bother with casino offers long term, but while work is so quiet I'll spend my evenings doing those while I wait for bets to come through. In September I'll be back to marking and planning in the evenings, so will just do some betting at the weekends.

thetimeisnow · 12/07/2017 16:04

Can I join in please?!

I started match betting at the weekend, following the student guide online.

I'm still learning but one thing that I don't understand is I placed a bet at Ladbrokes, then when I went to do my lay bet, it said I didn't have enough funds (I had enough for the £4.95 bet) so I deposited another £5 and it still said the same. Luckily my free bet won! But I'm cautious to place any more bets until I understand why I couldn't on betfair.

HeyRoly · 12/07/2017 16:17

When you place a lay bet, the lay stake isn't your money. You have to imagine another person out there on the internet, placing a back bet on the same market. It's their money Smile

Your money is the liability, which is always higher than the lay stake (the Oddsmonkey calculator, assuming you're using that, tells you what the liability will be). Because if the lay bet loses, that person out there somewhere on the Internet wins your liability.

Does that make sense?

titchy · 12/07/2017 18:13

What heyroly said.

When you lay a bet you're acting as the bookie and stating the maximum stake you'll accept for someone to back the bet.

So I back £10 on Shergar to win at 7.0. I lay that bet at odds of 7.2 - the calculator tells me the stake I should accept should be £9.79 (5% exchange commission).

If shergar wins I get £70 from bookie (including my £10 stake) - so £60 profit, but I lose my exchange liability of £60.73 so a net loss of 73p.

If shergar loses I've lost my £10 bookie stake, but won £9.30 at exchange (the £9.79 stake I said I'd accept less the 5% commission).

OP posts:
OverthinkingSpartacus · 12/07/2017 19:59

I found lay betting really confusing at first. I was thinking it's like back betting, and couldn't get why betfair wanted 30 quid when the bet at William Hill is £10, the way I figured it out is realising that the lay bet is more because you're kind of paying the winnings out to someone's back bet. It's really scary when you first start.

The higher your back odds, the higher your liabilities will be. A lay against a £10 back bet on odds of 2 will have a much lower liability than a lay against a £10 back bet at odds of say 7.

There's a calculated on oddsmonkey which tells you exactly what you need to lay, at what odds and how much in funds it will cost to place the lay. Profit Accumulater also has the calc available.

I understand why some may not want to pay monthly memberships for sites, I didn't want to and tried doing the free trials and then doing it myself but I found it overwhelming, looking for bets and offers myself and didn't feel confident I was laying correctly, the premium membership has been well worth the money and I regret not signing up sooner, it is possible to do this yourself without premium membership but I do think you need to know what you're doing and a grasp of how the lay works. I'm absolutely shit with maths and it's just a matter of time until I mistake on the lay, (many of us do)knowing I can get help on how fix a cocked up lay from support staff makes that £15 a month well worth it, plus it takes a fraction of the time to find deals and bets.

Most premium sites give you a free trial where they guide you through two offers, step by step, in the first two offers you've earned enough to cover a months membership and then if you feel confident you can cancel the membership. The membership more than pays for itself in my opinion. I use oddsmonkey and have been going since mid April, I'm still working through guides and have plenty to learn so as long as I make the monthly membership in profits I'm keeping it going. Profit Accumulater is another popular site.

thetimeisnow · 13/07/2017 06:47

Thank you for the replies, I'm re-reading them and feel it's just out of reach to click yet!

On my betfair screen, I don't have 'lay all ' as an option. There is 3 blue and pink sections with '1' 'x' '2'
Not sure why this has changed in the last few days!

Should I always 'win' on a betfair outcome too? As I lost yesterday.

Thank you for being patient with me, I'm looking at signing up to help me through.

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