MN Matched Betting society - all the profit, none of the gubbings!

[MissFitton]

Previous thread here

All welcome. Matched Betters old and new for oddsmatching chat, top tips and tales of ballsed up qualifying bets....

@serendipityfelix

Betfair is an exchange site so they are aware of matched betters and are more friendly to them so they wouldn't ban you straight away because they 'think' you might be a matched better. I would contact them via live chat and see what they say.

I've just started today. I've used Oddsmonkey and done the free skybet sign up, deposit £5 and get £20 free. I've used the oddmonkey odds matcher and have placed a bet on the horses for this afternoon. I've had to deposit around £74 for my liability though which has given me the willies a bit! Have I gone too big too soon? I was hoping to start up with around £50 in my float, but I've already deposited around £80.

Also, when can you start withdrawing money? I don't want my bank account to be down for too long!

I have also started today! took me way longer then it should have done to understand it, but managed to place the first bet then free bets and am excited to see if I have done it right when they finish later tonight!

How did your first one go beargryllshasabigrope

Can someone explain in a simple way how I start doing this?!

Sorry I forgot this already answered but how much money do you need in a float to get started?

I started yesterday as well, am on my fifth sign up and just waiting on results today from everything I did yesterday. If it all works out I should be £70 ish up. But I did have to keep adding funds to exchange so I've invested just over £200. Hoping it will fill back up by the end of the day.
I'm on Team Profit and signed up for the Oddsmonkey £1 trial which has been great for the Oddsmatcher, so I'll probably renew if I keep at this. When I get some cash back I'll switch to Smarkets on the 0% commission offer to minimise losses.

I did a few football and then braved horses, unfortunately the only finished bets so far have won in the bookies!
I spent all day yesterday and some of the day before just reading and watching videos before I started. Not telling DH until I've made £100+ and can prove it works!

Tried a few risk-free free spins things yesterday, didn't win anything but it gave me a bit of practice, I really don't understand the appeal of these games!

May have made my first mistake. I had £7.50 in SkyBet and an acca price boost came up, 3 matches with odds of 11 total. The same on Betfair was 8.8. But I laid the same amount (7.50) on Betfair so I think I've messed up. Betfair says if I win there I'm £7.50 in profit, liability is £58.50.
If I win On skybet the return is £82.50, but I'll lose the Betfair liability plus obviously £7.50 of that £82.50 was my stake.
I don't think I'll lose money, but can someone tell me what I SHOULD have done?
Only started yesterday so it's far too soon for me to be getting into this kind of craziness!

OK so what happened is I underlayed because I couldn't find a calculator that made sense of this. I will either break even or make a small profit, so could be worse!

Well done Gammeldragz. I am just reading lots about this and wanting to make a start but then realise, I really don't get it enough yet!!! Thinking about following one of the Team profit guides until I get the hang...

Right, I’ve been doing my research and am nearly ready to start. But I have some questions I’d appreciate some help on...

1. Why do some people have a separate bank account for this (do I need one?)

2. I’ll be remortgaging at some point - could this affect it?

@Runninglateeveryday search ‘team profit’ and watch the videos.

Good questions PlateOfBiscuits. I’m about to start matched betting and was wondering the same things.

A separate bank account keeps the many transactions separate and easier to track. I haven't got one yet.
Yes it will effect mortgage application if they look at statements, i have seen advice saying either stop 6 months before or keep separate account and close it before you apply.

If today's free bets play out as planned, I will be £160 up in 4 days. I used around 250 of my own money to start so was able to get going quickly. Most of that is now on its way back to my bank from various bookies and I am leaving the money in the exchanges for liability.

I have the trial of oddsmonkey and the tools are definitely worth paying for. Have linked the exchange accounts so I can lay direct from the oddsmatcher calculator which has sped things up and eliminated a lot of the room for error.

Thank you gammeldragz, that’s very helpful. I’ve set up a new current bank account and I’ll wait until I can activate that before I start. Good luck with today’s bets!

Thanks Gammeldragz

Had my first weekend doing this and I love it! Taking it slow but made £35 profit so far, and just had my first reload offer come through already. Can definitely see how this can add up quickly

William Hill sent me a fiver of free games bonus, won a tenner! Took a while as it went down to 10p odd before I won and then I just kept going winning and losing until it went above £10. No wagering requirements! Free money... Nice.
Profit stands at around £180 including bets due to clear today, then I have at least one more free bet to claim. Hoping exchange looks healthy enough to allow me to do some of the bigger ones soon. I've currently got my money split between smarkets and betfair, wondering if I should move the betfair money to smarkets as the commission is lower...

Has anyone used an online only bank account for this? Rather than high street bank.
Does it matter so long as you have a visa or mastercard debit card?
I want a separate account before I start so I can keep track and see it building up.

I would think online only would be perfect, you only need online transactions so no need for a branch.

It wasn't William Hill with the free spins, it was Betfred i think, but they did send me a reload offer of £20 free bet if I bet £20, so I've done that today.

I got confused with the £10 betVictor accumulator free bets, so I just placed one three way randomly off their suggested accas and will see what happens. I won the virtual bet so I was already well ahead from them as you can't lay that, I was just lucky. I'm not ready to learn sequential laying yet! There's also a 5 way free bet but I can't even work out how to place a 5 way bet never mind lay one!

For those with free acca bets - Betfair do one price on selected combinations, usually popular combinations bookies are offering on premier league and within a day of kick off. type 'acca' into the Betfair search box. Easier than learning how to sequentially lay!

Right, I need some advice here if you don't mind. I've just started matched betting, but I'm struggling because I have very little spare cash, so struggling to afford the liability amount. I know you get it back but it takes 48 hours, and money is tight at the moment. So I place the qualifying bet, and that wins at the bookies, so I have to wait 48 hours for that to come back so I can use it as liability for the free bet. And then that's tied up for 48 hours too. So my plan of making between 10 and 20 a day will never work!

Am I missing something or do I just need to wait until payday?

It does take a while if you don't have much free cash to put into the exchange, but if you keep at it it will build up. If your bet wins at the exchange you will be able to place the next one immediately, so hopefully that will happen with your next one