MN Matched Betting Society - all welcome!

[titchy]

New thread!

Yes betstars always does this, it's a pain. But perfectly safe I think.

I've had to do this with Leovegas and also Genting last week.

The funny thing about Genting is I'm sure it wasn't the first withdrawal I'd made with the, so it didn't made sense that they suddenly wanted ID. But because I'd managed to turn £8 of casino credit into £100 withdrawable cash, they were trying to throw some hurdles in my way.

Their servers kept rejecting my emails too, it was a nightmare. But I got my money in the end

I haven't even laid a bet yet though. They were happy to take the deposit though grrr

I've found with contacting for free bet queries the live chat options are usually really useful. I had one of my accounts frozen the other day when I tried to register a new card and they sorted it out no problem.

And YY to having to send ID - I changed some personal details a while ago and had to update all my bookie/exchange accounts requring loads of ID. Pretty much all done fairly quickly and I now have a folder on my phone/laptop with pictures of all my ID ready to send when needed!

So I registered with Betfair and coral yesterday and placed my first bet. The lay bet paid out and as planned I was only a few pence down after that. I don't seem to have got the promotional free bet on Betfair but got my 4 x £5 on coral. Today I placed another, followed the instructions on savethestudent but on Betfair it said i would be £0.22 Out of pocket. And I don't understand why ... I followed the tutorial to the letter ...

I'm not worried about being £0.22 Out of pocket ... I just don't understand what I did wrong. I realise that if my free bets on coral are right I'll be in profit ...

Anyway ... waiting for the game tomorrow and will try again afterwards.

Explain what you did and we'll try to help

I'm not familiar with savethestudent so what were the instructions?

And I'm not clear what you mean when you say that Betfair said you'd be 22p out of pocket. You can't do matched betting calculations with Betfair.

Post the details of your back and lay bets and I'll try to unpick it for you.

Sorry one more question...

Once you have done the free bet with whichever bookmaker do you just withdraw the money and transfer it back into your bank account? Or do people leave it in there?

Thanks!

Well the best case scenario is the bet loses at the bookies and so the money travels into the exchange instead. You'll need a healthy balance there for future bets.

If it wins, you're free to withdraw if you need to, but arguably it's best to keep the money there so you don't look suspicious. And hopefully they'll send you a reload offer sooner rather than later.

I do this with with the big name bookies, not so much with the obscure ones. Just make sure you keep a note of which ones have money in and how much.

It's ok ... I've just spent the last hour staring at Betfair ... I've worked it out, it means the cash out value would be a profit of -£0.22 ... But I'm not going to cash out ... sorry for the confusion, still finding the websites a bit confusing.

Thanks Roly this makes sense.

Hurrah I've found the current thread.

Hi all. Would you mind answering a quick question for me?

I'm about to do the BetBright offer where they credit a free bet IF first bet loses. So far so good. BUT what if first bet wins? Can I still profit somewhere? Sorry if daft question. Thank you.

I've just read the whole thread .. I'm a bit scared I can't do this ... I've just been following the tutorial on savethestudent as using the tool provided on there. Calculating it yourself seems very complicated I think I'm going to need a lot of hand holding! At the moment on the savethestudent guide it gives me the details of both games, what the odds are, what to enter on Betfair ... I'm not sure how to calculate that myself once I've exhausted the ones listed there.. Can I come back and ask if I need to? I need to take my cat to the vets for dental iperation and then get my very old car repaired, so it would be great if I could get a few hundred out of this. The problem is I don't have a lot to invest ... I was hoping to just keep reinvesting my profits but it doesnt seem that's the way others here are doing it??

Yes, Front That's what's known as a risk free bet. You need to calculate it with the calculator in risk free mode. You lay the bet differently to a normal/qualifying bet, to ensure that you make a profit whether the bet loses or wins.

Join Oddsmonkey Just and take advantage of their free trial. I wouldn't recommend doing all the calculations yourself. In fact I'd say it's pretty impossible and not worth the hassle.

Thanks HeyRoly - can you recommend a good calculator other than OddsMonkey (I'm no longer a member)?

Profit Accumulator is another one that gets recommended. I think they do free trials too?

Loads of free calculators out there. Basically, they're just a bit of Excel formulae. You don't need to join anywhere. Just Google Matched Betting Calculator and find one that's free.

I've another stupid question...

When you spend your money, should you only spend the stuff you've got free, i.e. Money accumulated from the bonuses and promotions?

I have £100 in an exchange, (my own money) and want to use it to lay, the back will come from an offer at a bookmakers (coral). Is there a down side to this?

If there's no downside, then why bother with the offers? Why not just do the SNR bet and use the calculator to ensure a profit? Or have I missed something again?!

mogulfield - you'll only get the free bets (usually) from placing qualifying bets with your own money. There isn't a way of just using a calculator to ensure a profit (or else everyone would just do this!)

mogulfield - you'll only get the free bets (usually) from placing qualifying bets with your own money. There isn't a way of just using a calculator to ensure a profit (or else everyone would just do this!)

Sorry - posted too soon...(and posted twice for good measure!)

I started with a bank of about £100 which I have now grown into a pot of about £1k spread across the exchange and the bookies. My original £100 has been paid back to my bank account. It's the offers that generate the free bets which is why you need them.

Well I seem to have done something right .. I had a profit of £12.60 this morning. I then placed anther bet of £5 to release a free bet on sky bet and have now just placed the £20 free bet on a game tomorrow afternoon. Hopefully correctly...

Thanks Miss for explaining that. I get it now, I would (probably) make a loss, but it's the free bets that ensure profit.

So my next question would be, when I look at the oddsmonkey oddsmatcher, to see which bet would make me the most profit. I need to go with a bookie and an exchange which I have free bet money sitting in, for both of them for it to work.

I found a great bet on oddsmonkey just now, but the exchange isn't one I've used, so I'm off to try and get a free bet on there now!

mogulfield - you just need a free bet with the bookie in order to make money. At the exchange you are acting as the bookie so you're not likely to get free bets there (and if you did you'd have to lay the bets at another exchange). So. The basic principle is as follows for all these bets:

Bet £5 get a £10 free bet. (for example)

Bet £5 at the bookies at the minimum qualifying odds. You lay this bet at the exchange either by finding the best qualifying bet through Odds Monkey (or whichever site you're using) aiming to lose the least amount of money possible (ie using low odds). For this you are using your own money.

Once that bet is settled you get your £10 free bet. This is free money at the bookies which you'll find a bet which gives you the most profit. (again using the oddsmatcher calculator or finding it yourself and using higher odds). You'll still need your own money to cover the liability at the exchange but the profit will be yours either way as you have a free £10 to make the bet.

So, each profitable bet is actually the result of a qualifying back/lay bet and a free back/lay bet - four bets in total.

It sounds horrifyingly complicated when you first start but it soon becomes second nature - promise!

but don't ask me about accas or anything more complicated as I haven't a clue

Ahhhhh so it's easier than I thought, that's good! You've explained that very well (well my brain understands it!). Thank you!!

I found a great bet (football match on 23rd) on the oddsmatcher, and went to the site (Totesport), but it's not showing the games on the 23rd, but oddsmonkey are giving odds for it. Do some sites not let you bet much in advance? (No more than 3-4 days ahead)?