MN Matched Betting Society - all welcome!

[titchy]

New thread!

Scared of a higher liability 🙈

Odds of less than 5.0 on a free bet won't yield much however close the back and lay odds. Go for between 5.0 and 10.0.

E.g. A free £10 back bet with odds of 2.0 and lay odds of 2.1 will only gain you £4.80, whereas the same free bet with back odds of 8.0 and with lay odds 8.4 gets you £8.60.

Ah ok. Is it usual to just be getting around £8 per free bet - just need to do lots of them? Quite a few of my free bets are only £5 so it doesn't add up to much!

Getting £8 cash out of a £10 free bet is about the expected amount so that's fine! Similarly a free £5 should yield £4 of actual cash. Just make sure you don't lose more than £1 on the qualifying bet needed to get the free £10.

And small amounts add up - £10 a day five days a week is an extra £2500 a year!

I aim for around an 80% return on a free bet, so £8 out of a £10 free bet is totally fine.

Don't be scared of higher liabilities - remember, if a lay bet loses then you win at the bookies instead. Matched betting is basically a matter of your money flying between the exchange and the bookies (and back to your bank account), picking up profits along the way

Thank you - I feel more reassured!

I'm back on this after a short break. Word to the wise - don't change your name and have your bank cards expire in the same month - it's a nightmare of emails, photographing ID docs etc etc.

Anyway, I use the ultimatcher spreadsheet which looks complicated at first but is fine once you get used to it.

I think I need a little more patience. This is addictive! In need to slow down as don't have a big pot i.e. Be patient and not place loads of bets at once, and also having to wait for the money to go back into my bank. Slow!

Hello it was off the back of m thread about making money that the Matched betting chat started but I haven't had much of a chance to get stuck in beyond the sign up offers.
Can I ask a few questions?
When you are placing bets do you use money from your bank account or do you just move around money from different accounts? I was planning on doing the weekly bet clubs but to put £25 or whatever in from my bank account x4 for each one seems like a lot of money. Is there a better way to do this?
Also can anyone tell me how you handle the profits, do you take it out straight away or put it back in to use for something else? I just can't get my head around how I'm going to be able to take a decent amount of money out in profits without just using it on other bets.
Apologies if these are daft questions, I've been a SAHM for a few years and that combined with lack of sleep seems to have turned my brain to mush!
Will go back and read the other threads now while the little one sleeps!

IWantACheeseburger I did have to move some money into paddypower for the bet club the first time I did it - I moved it from one bookie, to the bank and then into paddy power. I've found recently though that i've won a few at the bookies so not had to put anything in by not doing all 5 bets at the same time. So e.g this week I had a balance in paddypower of about £35 so I used that do do 3 qualifies, these complete and I ahd more money in paddypower so I used that to do the next 2 qualifiers.

Regarding profits i've just left it all in there, most of it in the exchange so I can go for higher odds for free bets because I have enough to cover the liability.

This sounds great. Everyone seems to be mentioning profit accumulater or oddsmonkey but unless i'm mistaken, they charge ridiculous fees. There's a free site my friends and I use. WinningStrategy dotco dotuk. Really good especially if you're new - love the guides. They're so simple. Each to their own, but i'm not paying £200/year to some site when I can get it for nothing.

Clarkson i've just had a look at that site and it seems decent enough for free but nowhere near (IMO) as comprehensive or well-laid out/easy access as OM. OM also has a HUGE community of experience to draw from and free 1-1 sessions with the OM staff on request. Personally I feel it's worth its weight in gold and well worth the £15 a month fee!

IWant - I found it much easier to open a new account. I've opened one with Barclays, fee free basic account with Debit Card, purely for my MB.

Initially I started out with £150 of my money. which I transferred to my new Barclays account. I bet, one offer at a time, withdrawing any winnings from the bookmaker and often having to wait until it went into my new bank account before being able to continue to the next bet - incredibly slow and frustrating at first! But I was determined not to 'play' with any more of my own money.

I continued until I had doubled my money and had about £300 floating around between my new bank account, various bookmakers and exchanges. THEN I transferred £150 of that back to my own, personal use bank account so that all the money I was using from then on for MB was purely profit, about £150.

That slowed me down because I was back to placing one bet at a time for a while, but my profit has now built again and I currently have around £600 between my new bank account and bookmakers/exchanges - this means I can bet a few at a time often and i'm not so limited as I already have a couple of hundred quid in my bank account to spend from immediately.

Re: profits, I haven't actually taken any yet. I intend to do MB as a long term, regular income and for that you need a decent amount of cash banked constantly to use for MB only - you can't really make £300 profit then spend it all as you'll be constantly back to stage 1 where you have to wait for credits to bet again.

I intend on going until I hit £1k and keeping that as my constant float. Then, after that, i'll wait until i'm about £500 up again, and withdraw £500 at a time from my MB bank account to my personal account, to actually use.

I also wouldn't recommend starting with weekly bet clubs, or going it alone - if you're a mathematical genius with hours to spare maybe, but searching offers etc would make it really hard work.

I would recommend Oddsmonkey - they have basic free guides for your first two MB's, to make you about £40ish profit. After that, it's £15 a months but there are loads and loads of new and no-risk offers, a daily offer calendar every day and a busy community to ask questions. I find it really user friendly and haven't had any problems so far - if you follow their guides and are careful and go slow, you can't really fail.

Flanders rocks I know what you mean but then if everyone at MN used winning strategy (and the forum), then everyone wouldn't need to use paid membership sites. £15 pays for ballet and swimming lessons

Also, Winning Strategy has about £1200 to £1500 ish of joining offers so for beginners, looking to try matched betting for free, I'd definitely recommend it.

Hi all, I've been doing this a month now and was enjoying it.
On my spreadsheet it says a profit of £95 but when I've looked at my bank statement for payments out and my 'winnings' in I'm only £20 in profit.
I've got one bet going at the moment which will give me 17.91.
I'm really disappointed .
I've not had any sneaky bets or betting on casinos any idea what's gone wrong?

Thanks in advance :-)

Is some of your profit in your bookie or exchange accounts?

Nope :-(
I've added everything I have everywhere!

Have you included your liability and potential profit from your outstanding bet?

I've kept track of it by using a spreadsheet and having each account/website, how much I have deposited into it, the current balance, and how much I've withdrawn, with a running total. Don't know if there is a more straight forward way but so far it's working.
I've been doing it for about a week l/signed up to about 5 bookies and only made £57 which doesn't seem very much.

I have the spreadsheet, I'd be lost without it! I made about £50 in a couple of weeks.
My liability for this next one is £30.
I've just done a £30 free bet too so hopefully it'll win and I can get positive again!

Placed three bets this evening, one qualifying and two free. Only one out of the three lay bets I placed are showing on Betfair.. odd 🤔

Have they all fully matched?