MN Matched Betting Society - all welcome!

[titchy]

New thread!

BLOODY HELL IT REALLY WORKS!!!! Have just checked my balances from tonight's matches and I've made £24.39 profit! Had £100 to start and am following the team profit process. Am really chuffed..!!

@DottyDotAgain - be careful taking arbs. They can get your accounts restricted/closed or bookies can stop you doing offers (called gubbing).

Ok think I'll stay away from bingo! Still getting my head around this.

I may be overthinking but I basically understand that you are putting a back bet against a lay bet to make the betting mostly risk free, and use this method to turn free bet offers into cash. What I want to know is, can you turn it into more than the value of the free bets eg make more than £20 from £20 worth of free bets? How does that work? What difference do the odds make - why do they advise betting of odds from 2-5 then odds of minimum 5 etc? (This is using oddsmonkey). I'm sure one odds calculator was giving me a £25 profit on a £5 bet when the odds were in the 20s, but I would have needed more money to cover liability in my betfair account. Is this risky?

Also, if you 'win' on betfair do you actually get more back than your stake? Sounds silly but I'm sure one of mine won but I didn't get anything extra, just my stake back. Hence I've increased my purse on coral but have had to top up credit on betfair.

On the plus side I have made £15 profit so far on I think £15 of free bets so something is going right!

You can make more than your stake back by using arbs but it is apparently quite an obvious red flag that you're a matched better. Coral used to send me loads of reload offers so you probably want to keep them on side.

Ok - genrerally you'd make 80-90% of the value of the free bet, so a £20 freebie should get you £16 cash. It is possible to make more than £20 but unusual and unlikely (betting on a live football match would be an example where you put your freebie on Man U to win when the score is 0-0, and just after you'd put on your back bet, but before your Betfair lay bet Man U score so the lay odds drop)

Play with the calculator - longer odds mean a great proportion of the free bet is retained. I think I posted an example further down this thread.

Winning your lay bet only gets you your stake back, less commission no more!

Thank you everyone, that's clearer. I wasn't trying to be greedy (I realise that might be how my last post might have come across), just confused by those saying they're making £500 per month - are there really so many offers around?! Happy to be taking the value of free bets or a bit less and it's certainly better than the audio typing I used to slave away at for less than £4/hour!

noodle I don't understand this bit either- I can see how you can make an initial bit of money from the welcome free bets, but how do people make long term money once all those are done?

There are enough freebies floating around to get a decent income - but you need to a) have a lot in your lay exchanges and b) have a lot of time.

The free weekly bet clubs (as in 'Bet £xx each week get a free £x next week') could earn you £100 a week. Then there's the horse racing 2nd place refunds - if you do enough at very low qualifying losses that could earn another £200 a week. Add in accas, extra places on horse races, boosted odds, normal freebies (e.g. Ladbrokes often have bet £20 get 2 free £5 in play bets), William hill's horse wins by 4 lengths extra 15% on winnings, Betfred and others' 2-up offers, casino offers (e.g. William hill have a free £5 to use on roulette today and tomorrow - I made £20 on the bus to work this morning!), bingo offers etc etc it can be done!

But it takes time, money, patience and trust that long term it'll work out!

I've played the William Hill fiver on roulette for two days running, betting £1 on zero and it came in both times But I STILL couldn't get through wagering. I hate roulette.

Stick to red

I'm quite liking roulette! I've yet to get much over a fiver after wagering with WH but I did manage £115 off a free £5 live casino offer once which I think gave me a taste for it!

In October I made just over £400 (tbf, a chunk of that was Bet365 and their welcome bonus) but I literally only do a couple of bet and get and the odd casino offer each week. I need to get my head around accas and horse refunds. It's just a case of finding the time!

I tried wagering on red, but got 5 or 6 blacks in a row and quickly bust out. And today, after winning £36 for the second time, I logged out and decided to come back later. Thought it might be worth trying zero again. Well, 36 rounds later I bust out

I don't understand how betting on anything except football (and therefore rugby/cricket - 2 team games!) works. Am sticking to the team profit process religiously and haven't got past football yet..!!

£67 in profit now - still can’t quite believe it and still feel horribly nervous when I press the ‘place bet’ button - have never placed a bet in my life before Tuesday - but it seems to be working..!

A couple of free bets haven’t come through yet - am hoping they arrive tomorrow...

Dotty - I was exactly the same when I started, now the largest bet I’ve put on a football match is £200 which I didn’t even blink at! I checked my spreadsheet yesterday - since April I’ve placed 11k worth of bets.* This is all self supporting now, I don’t touch my main bank account at all.*

I've nearly run out of sign up offers too. I think i need to put down some mug bets and start getting some reloads back in.

I got a semi gubbing email from 888 yesterday, saying that I'm no longer eligible for "best odds guaranteed" on horses. But I hardly ever use them! I checked my betting history and I placed a flurry of bets in May, one in August, and none since! So that was weird...

Did the WH roulette offer this morning. Put my fiver on red and it landed on black

Hi I've just read through this thread and once I've watched the videos on oddsmonkwy again, I think I'll be ready to start!

Do you mind if I ask you experts a few questions?

I haven't set up a new bank account yet. Is it okay to use my normal account now and set up a matched betting account later? I'm quite organised so I think I can keep track of what I've used.

What a good amount to start out with? Is £100 okay?

Thanks!

You can use your main account, i did to start off with but i didn't want loads of bookies all over my bank statements so i set up another account. £100 is fine to start off with as presumably you'll want to start slowly.

I'm keen to start so I've just used my normal bank account. I've done my first matched bet and I feel like I need a lie down! So stressful! Hopefully I've done it right. Got to wait until tomorrow night for my football matches to finish.

Sorry to ask another question but on the odds matched, the type of bet being match odds, does that mean your betting on that team winning? I hope that makes sense.

Yeah, "match odds" is sometimes called the "win draw win" market. It's the main market where you back a team to win the match.

I too started with my ordinary bank account but I’ve now got a dedicated MBing account so nothing touches my day to day accounts. Mortgage providers don’t like lots of bookie transactions
I’ve had a decent Friday night - crashed out of my WH live bonus after about three rounds but had an invite for a Ladbrokes bet and get slots offer and cake out £35 up. Not a bad start to the weekend!