MN Matched Betting Society - all welcome!

[titchy]

New thread!

Thanks, as I say it's seems so complicated when you start but I soon seems a bit more straightforward (unless you try and do the maths yourself!)

You might have to search for it - some bookies have a search function - it's annoying that they don't all have that. Does your totesport bet give you free offer in return? You can find lots of great bets on the oddsmatcher software but unless you're taking advantage of an offer then it's not worth it.

I really ought to get around to doing the rest of the sign-up offers!

As a newbie tell me about this. Any risks of losing money?

Your qualifying bet will lose you money, but as long as you go for low odds and a decent match at the exchange the loss will be low - less than 50p often. In return you get your free bet which might be £10, which you should be able to convert to withdrawable cash of £8+. So overall a free £7.50 or more. Sticking to basic bets like this and there is no risk whatsoever.

Miss no search function, it's quite an awkward website full stop. I've picked a different bet as I lost the will with that one!

Next questions:

Can I withdraw money from my account whenever I like? I'm having to put £200 in my betfair exchange to have the liability to lay a bet, but I'd quite like to know I can get at that money whenever I would like!

Second question: If I had loads of money to back, then I'd make loads of profit, is it as simple as that?! I've included a photo of what I mean...

Bookie money can be withdrawn whenever you want. Exchange money also, UNLESS it's tied up in liabilities, in which case you either need to wait for your lay bets to settle, or you need to cash out your lay bets.

Free bets are usually restricted in stake to £10 or £20 so that is the maximum stake usually. sometimes they're more though. However yes if you had loads of spare cash you can of course do multiple £10 free bets with lots of bookies, but again you'd need the money n the exchange to cover liabilities.

People often spend the first few weeks not withdrawing, just building up the money they have in their exchange account. A good spreadsheet keeps you motivated though!

Finally, if you have several free bets, you can put them on different outcomes of the same event (e.g. On Man C vs Man U you might put a free £10 from William Hill on Man U, a free £10 at Ladbrokes on Man C and a free £10 at Coral on the draw), then you only have one liability to cover at the exchange, because clearly only one of those outcomes will happen.

Perfect, thanks titchy so the only thing limiting you is how many free bets you can wangle! Got it.

Mogul I'd recommend you start using the filter on your oddsmatcher to only show relevant bets for you.

This is how I do it:

So for example you are signing up to a new bookie and need to place a qualifying bet with odds of 1.5 or higher. (Oddsmonkey will tell you which odds for each offer) Go to the oddsmatcher and filter it to show that particular bookie, the exchange you are using and the min odds you need. Sort the results by rating. Open the best match at the top and if you are happy with the loss then place your back and lay bets. Sometimes you will make a small profit on a qualifying bet. It will show in red in the oddsmatcher.

When you get your free bet, again open oddsmatcher, filter it by the correct bookie and exchange, put in minimum odds usually at least 5 in order to get best returns. Sort it by the snr column. Open the top result and if you are happy with the amount you will win then place the back and lay bets.

I have a question about bingo. I did Sing and Treasure Bingo a while ago but I've ended up with about 3p in each of them. Can I carry on and do other offers? What do you do if you're below the threshold to withdraw? Just buy tickets until there's not enough money to buy any more?

How do you calculate if the deposit offer is worth doing?

I want to do bingo offers but I cannot get treasure or city to work on my laptop. I cannot buy tickets, constant error message about page not loading etc. I assume it's a problem with my laptop but don't know how to address it. Has anyone else had the same problem?

Oooohh so pleased to have found a MB thread! I posted about matched betting in chat yesterday. I've only just started and done 3 offers so far. I've just signed up to team profit and their fb group. Do people here use a paid service like PA or odds monkey or go it alone? I've used a free odds matcher but wondering if a paid site might give better matches.

Look forward to chatting with you all

I'm using OddsMonkey and also find Team Profit to be brilliant (free support, great website, great blog and really helpful Facebook group). Also, Betfair have joined forces with OddsMonkey premium members and offer a standard 2% commission to the end of the year, which is great. OddsMonkey have 1-2-1 training and also have support until 9pm and are brilliant at answering all sorts of questions.

Ah the commission reduction sounds good. I have a question on horses. If I bet on a horse and it falls or doesn't run what happens to my bets? I've only been betting on football because I'm unsure of that but finding it hard to find good odds

Profit tracker live on OddsMonkey premium now!

I was looking for something to track profits without using a spreadsheet at the weekend (PA already had one) and OM said they were announcing something today. I did a quick search a few days ago and found their "beta test group" discussing it on the forums.

Haven't set it up yet but it looks pretty good.

I'm also enjoying the "lay the bet" at betfair button on the calculator. Much quicker. I also opted into the 2% commission at betfair.

You need to check with individual bookies how the deal with events such as horses falling, tennis players withdrawing injured etc.

But usually if a horse is a non starter you get your stake returned. If it falls you've lost your stake - although tbh they don't often fall.

I'm about a 10 days in so far, using PA. So glad to see a MB thread. 🤗
I'm hoping to get some money together to help pay for Xmas cos we are really struggling this year. DH works and that covers the mortgage and bills etc but there's very little for anything else. I understand that matched betting is legal and tax free, therefore profit not needed to be disclosed for HMRC etc but does anyone know about tax credits? Ive found very little official info on this. The tax credit forms always have an "other income" section. Does matched betting count to go in here? I read somewhere that betting winnings don't count but also read that some bloke once got prosecuted for not disclosing as he was deemed a "professional gambler". 😕

Can I join this group please? I dabbled with matched betting a couple of years ago so have used lots of the free bets. I joined profit accumulator this morning, £1 for 3 days trial, I've now got a bet on a horse this afternoon on Stan James, with lay bet on betfair, I stand to lose around £3 but will get a free £10 bet. Am I on the right track?

Hello frazzled and welcome!

£3 seems a lot to lose to get a £10 free bet. Do you want to give us your figures to look at?

Yeah, a qualifying loss of £3 is far too much. What kind of offer was it? Bet £10 get £10? If so, ideally you want to make a loss of 50p or less to unlock the free bet.

I've joined Bet365 today. I didn't find out until afterwards, but their 100% deposit match offer (up to £200) is changing as of next week. So those of you with decent amounts in the exchange should consider signing up ASAP.

I completely miscalculated that. I only lost 20p and will have a free £10 bet tomorrow.

I've now completed a second bet and lay bet with a different bookie. I am now a total of -63p and have £15 of free bets to come so hopefully I'm on the right track.

I've read through all this thread I'm very confused how people make money on the spins. I get emails offering them but they have to be wagered so surely you always lose any profit through that, am I missing something? Also what does 'busting out' even mean??