MN Matched Betting Society - all welcome!

[titchy]

New thread!

The pink is the lay.

You won't always win at Betfair, but you should ALWAYS win at either exchange or bookie so they pretty much cancel each other out.

Sign up for a one month trial of OM or PA - they're free and excellent at guiding you through it.

This is the screen :

yep that's what it should look like. If you've put a bet on team 1 to win at the bookies, then you want to click the pink block underneath the '1' - that says 3.15 which are the lay odds - so if team 1 does win you'll get your bookie winnings, but you'll have to pay out your exchange liability (you're acting as the bookie when you lay a bet at the exchange). If team 1 loses you'll get the stake you entered from the exchange.

If you've bet on a draw then you lay the draw which is the pink block under the 'x'.

Ah ok!
I've joined pa and watching the video now. I've set up my spreadsheet and I'm ready to do this!

Hi all can I join you all, I've been following the thread, read through the guides online and convinced dh to give it ago!

Bit confused by the last example, I thought by laying the bet you still made a profit so it's essentially win/win either through the bookies or the exchange have I completely missed something?
Everytime I feel like I understand enough to take the plunge I read something else that confuses me, do I just have to jump in and learn as I go?

Glittery when you do your qualifying bet (the one that you have to do in order to be eligible for the free bet offer) you will make a small qualifying loss which is usually pennies.

Then when you get your free bet, that is what you make the money from by backing and laying.

Also I would say that only start once you've understood properly, as it could otherwise lead to some costly mistakes. Until you understand the concept, don't take the plunge.

Hi all, Welcome Glittery... Oh dear, I am not having the best day. Can someone tell me if Betfair Exchange always settle quickly? I think I may have forgotten to click on confirm or something when I laid my bet because there is no trace of it and the race finished about half and hour ago!! Which means I've wasted a free £20 bet. Oh bum!

OK thanks, I don't think I read the example correctly.

Will definitely go back over the guided before I start!

I've just won £65 on the grovsenors casino welcome offer, playing blackjack. I've not played blackjack since my brother made me play for Smarties when I was about 10. He won most of my Smarties :( but I used the oddsmonkey blackjack method and won this evening :)

That's brilliant dragon!

I've had my first beating with the gubbing stick and I too feel very affronted! It's Skybet and I've been doing the bonus builder for the past 8 weeks with only a few more left before getting the £30 free bet. Bastards.

Sky got me too - well pissed off with that one. My bonus builder still says they'll pay the £20 I've got so far though even though I'm no longer eligible for the promotion. They're my 6th gubbing to date!

My gubbing was skybet. I've got £22.50 of the free bets to come but, still!

I've been doing lots of overtime this week so have let the betting slip. Might do some Wimbledon mugs.

Just returned from 2 week holiday need to get my head back into this now

I'm having a 'mare at the moment.

Deposited £50 into 888 and received £50 casino "Freeplay" which I turned into £35 in bonus money - great. Bonus money can be wagered on sports as well as casino - even better! So all I need to do is transfer the money into the exchange.

But so far, out of three £20 bets, only one horse has bloody lost so I now have £228 in 888 and sod all at the exchange. I have another £20 bet still to settle and I'm praying it'll lose, but I bet it doesn't

Can i ask another stupid question?

Do you want your back bet to lose then? So you end up winning your lay and your money is in the exchange and not tied up at the bookies?
Is that how you get around the free bets not being eligible to be withdrawn?

It doesn't matter as long as you have enough £ in the exchange, though obviously you don't want every single bet to win forever!

The free bet isn't withdrawable, but any winnings are.

Heyroly - yep I'm currently ploughing my way though £900 of bet on Brazil wagering. My original plan was to put the £50 bonus amount on at fairly lon odds so it would lose - the fucker won and I ended up with about £600 in the account I've ended up having to put bets on at low odds as I have very little in my exchange accounts. Low odds equals more chances of winning. Grrrrr.

£250 to go....

Yes! Exaxtly my problem! Having to bet on horses at low odds (favourite or second favourite) because I don't have enough in the exchange to bet at longer odds

Thank goodness the favourite I bet on this afternoon actually lost.

Gosh, you guys are good at this. I am still at the stage of not really feeling I can manage more than one bet at a time, and I make mistakes - stupid ones - so I've not qualified for my free bets a couple of times. Doh!

Having said that, luckily most of my horses have lost so I've ended up with my (small) profit in the Exchange. Yay!

Do you withdraw the money from the bookies or leave it in the account?

I withdrew bookie money early on in order to fund exchange deposits. Now I tend to leave £50 in each bookie account I use regularly plus hundreds in bet on Brazil I have over five hundred in Smarkets though and £30 in betfair thansk to bet on Brazil wagering

I'm amazed you've managed to accrue £500 in Smarkets! Every time I get a balance of £200 I seem to get a couple of big losses. I currently have £14 in Smarkets and I only topped it up yesterday

I do alright with Betfair but currently have £8 in Smarkets . I tend to withdraw when it goes over £100 but leave £20-30 in the bookies I use regularly.