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....

The first few weeks you won't be able to withdraw profit as you'll be building up exchange liability, but once you've got enough in the exchange you should be fine to withdraw each week and spend!

I started a week ago with £230 altogether and am now up to just over £200 profit so I've withdrawn my original money and am using the profit to continue. It does help you get going faster if you have a bigger float, I don't get how the starting with £10 plans expect you to cover liability.
No harm in waiting a few weeks or starting slow to practice though. The offers won't dissapear.

I'm off on holiday tomorrow so will be having a week off.

It's the end of my first week. I have put in around £200 and made £118 profit. Could have made more but didn't have enough in the exchange to do all the offers and reloads I've been getting. Excited to see what the second week brings!

Great start gammel and raccoon! Feels great doesn't it!

Just started this week.
According to profit accumulator I have made about €48 (living in ireland).
A few of my back bets have won so i'm waiting for bookies/bank to process withdrawals so that I can plow it back into the exchange.
Also waiting for a couple of bets to play out.
It's a bit weird hoping that you will lose bet so that you can keep money in the exchange.
I'm sorting out a separate account so that i can keep better track of the ins and outs, it's a bit scary to take money out even though you know it's somewhere "out there".

I was wondering if getting an e wallet would speed up the process of when your back bet wins to put back into exchange.
I know I wouldn't be able to use it to open accounts.

Some of them I tried to withdraw with PayPal to speed it up, but because I hadn't deposited that way it wouldn't let me.
I've got £100 stuck in Comeon! Because I need to validate. It was £20 but I did a mug bet to try and lose it to the exchange but bet won so plan backfired!

I already have a paypal so may try that as some people on forums say it works for them.
I might have to put in via paypal first so will have to wait until my funds come through but it's a lesson learnt for next time.
t won't work for opening offers but should be ok for the "spend 25 to get 5 as free bet" offers.

Complete novice here. I’m using profit Accumulator, I seem to be up so far. Just placed my qualifying bet with betfred, I found their website hard to fathom compared to corals yesterday. I’ve back Mansfield town to win with them and layed them at Betfair. I had to ask on the chat I’d done it right.
So many options! Not sure I’ll get my head around it all!

Place marking this for a good read later.

Is there still a reasonable amount money to be made doing this?

Also I’m not 100% getting the liability at the exchange. I’m presuming if you lose at the bookmaker but win at the exchange you get the liability plus stake back and if you win at the bookmakers you lose all of the liability?
Sorry for dopey questions. Just when I think I’ve got it straight I lose it again!

Exactly right marigold! Pretend you're the bookie - when someone gives you £10 on Man U to win at 2.0, your liability is £10. So the stake, plus your £10 liability is taken off your balance - like a bookie might take that out of the till and put it in the safe.

Frouby - yes definitely money to be made. £500 a month ( until you're gubbed by a lot of bookies!) is doable relatively easily as long as you have the exchange liability. More when there's big events on likenCheltenham.

Is that just from reloads titchy? I started it a while ago, think I did the first 8 or 9 offers on profit accumulator and then got busy with work etc.

I keep getting emails etc but haven't really paid much attention.

A mixture - reloads, 2-Up, 2 clear, weekly bet clubs, acca insurance, boosts.

Thanks Titchy. Will start again when the dcs are back at school.

£500 a month is a lot of extra free income!

Thank you Titchy. So much to learn!

Betfair have gone down today. they appear to be back up but haven't settled my bets. grrr

Right, this question might get me jumped on...but does anyone just gamble the free bets?
DH and I did matched betting for a qualifying bet, so obviously lost nothing/gained nothing. But we were skint at the time so couldn't afford to tie up money in the exchange. So we just gambled the free £20, without matching it. Figured it's not our money so not really gambling as such. Obviously outcomes are not guaranteed.
What are people's thoughts on this?

Placemarking. Hi everyone!
I've been toying with the idea of this for years but am spending more and more time convincing myself its a good idea!
Have opened a separate account and am going to keep reading guides and watching videos before plunging in (maybe next week!)
Will have lots of questions!! Hope there may be some folks here would can help me out if need be?!

flyingpompom
You probably wouldn't lose much doing this (only the small amount from the qualifying lay bet so less than a pound) but you're also unlikely to make any profit, whereas by matching or laying the bet you're guaranteed to make money.
Having said that if the clock is ticking on a free bet and you can't lay it, you might as well take a punt IMO.

Great day today. Did the Grosvenor welcome bonus and they gave a £20 casino bonus too. Spent about an hour getting through the wagering read on the slots and ended up with £64 profit!

Thought I'd pop back to this thread. It's great to see so many new people on it!!

I personally always lay freebets. It adds up so quickly. I have just passed the £10k mark since starting and £2k for the month so I'm pretty chuffed!

Slowly working my way through the opening offers. Cashflow is slow but hopefully will get easier as my "float" grows.
I'm a bit bamboozled by all the jargon.

Qazvxc

I can help unjumble the jargon if you wish. Anything in particular?