MN Matched Betting Society - all welcome!

[titchy]

New thread!

Titchy, what does that mean? I'm not quite sure. Thank you!

What are your odds like thetimeisnow? If you're using low odds for your free bets your profit will be low.

I've had an unexpectedly good day today - despite my crap run with casino offers I won £100 on a scratch card today. Then went on to win £40 on some WH slots. Not bad!

ASauvignonADay that seems quite low. Which offers have you done?

Clarkson, I've done the sign up offers for William hill, ladbrokes, bet victor, paddy power, Stan James and just done one for 888 Sport. I've had a few free bets from William Hill too. Just don't seem to be earning much out of the free bets?

If there's not enough money in the exchange markets your lay bets won't be active and will be listed as unmatched. So although you're offering, say, to take someone's £20 stake at 5.0 and have the money to cover the liability, if no ones actually wanting to give you their £20 you can't make the deal.

Free bets should be used on odds of over 5.0 to be worth doing.

Ah ok. Do you risk losing money in that case?

I'm not going over 5.00 really for the free bets as it's quite a lot of liability!

Is this a normal phase do you think, a lull?
Wish I could start again, now I know what I'm doing and going high odds!

Yes it's a risk - though if your bookie bet wins you've no liability to lose which is great! But if your bookie bet loses then you'll get nothing from the exchange...

Timeisnow - you do need to build up some money in the exchange in that case so you can start to put your free bets on at higher odds.

A £20 free bet with back odds of 2.0 and lay odds of 1.9 will only make you £10.81, whereas putting it on at back odds of 6.0 and lay odds of 5.7 will make you £17.70 so definitely worth doing those high odds

ASauvignonADay the Ladbrokes offer alone should net you over £30...not sure where you've gone wrong to be honest. I'd stick to the guides as closely as possible and try and limit your liability to a couple of pound an offer. It all adds up.

Sauvingnon - I agree with Clarkson, if you honestly have only made a few quid out of so many sign up offers, then you're going wrong somewhere and you need to figure out where. Have you been watching the Oddsmonkey videos and reading the guides for each sign up offer really closely? These things become second nature in time, but when you're just starting out you need to take it slowly so you don't mess up (and you still will mess up occasionally!)

I haven't watched all the videos, so maybe this is why. Frustrating! I'm going to go back and look through. I haven't lost any money but just not made very much

Plus if you're not making much on the offers, the Oddsmonkey subs will wipe you're profit out. I'd personally find a site that provides free info, and protect your winnings.

I aim to lose no more than 10% on qualifying bets and make more than 70% of free bets. I'm not sure where you're going wrong either - you are backing and laying both qualfiers and free bets?

Yup backing and laying both. Maybe I've just gone for too small odds throughout?

Maybe. But don't let it get you down. There's loads more joining offers, and stick with at least odds of 4.0 and I'm sure you'll make some money. You live and learn

Hopefully! Thank you though, that is reassuring! I've just been worrying that I've cocked it up beyond and return and won't be able to make any money 🙈

So Betfair says one of my lay bets is unmatched. Do I need to do anything?
It says 'at in-play' then gives an option to cancel or keep.

Is there money available for the unmatched bet at higher odds? Or are the odds the same just there's no money available? The small amount under the lay odds tells you how much there is. E.g. The £288 underneath the 6.6 for Portland tells you there's plenty available, but if it said £0 then your £19 lay bet won't be matched.

You can cancel unmatched bets at no cost, and lay again if it's a case of the odds increasing.

Thank you! I think I've done it right. So much to learn!

I've just done a £30 free bet too so hopefully it'll win and I can get positive again

I'm not sure what you mean? Are you gambling with your free bet and hoping it will win? If you're MB it shouldn't make much difference (a few pence) if it wins or loses, if you've lay'd your free bet you'll have profit regardless.

Agree with Flanders - the only 'hopefully' which should be in MBing is that your bet comes up in the exchange rather than the bookies!

How much profit should I be able to make out of each free bet? A lot of my free bets only seem to be £5 or £10 and the profit is rarely over £10?

You should make 80% of the value of a free bet, so a free £10 you should turn into £8 withdrawable cash.