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....

Oh... Hey ho live and learn! Thank you.

Why did you bet at the exchange to lose when your back bet was the win? You LAY the win at the exchange - you do exactly the same as at the bookie, except as a lay bet which means gives you the opposite outcome - so laying a win means not winning - I.e drawing or losing.

I don't want to be rude but unless you understand that clearly do not MB - you will lose money.

Haha!! I only just saw your message @mamahanji

No worries.... Mmmm burger!!

Talking to myself I know I'm now £32.39 up after the Coral and BetFred offers, have already spent £10 on getting WH bets, but my back bets keep winning and no more funds to add to the exchange.

It's quite annoying that I keep winning as could have put that £10 on and the £90 would have been mine, but I guess that's gambling.

Just wondering, the guides I have read say to withdraw winnings with the bookies so that you can use it elsewhere but if you leave it in does it make you look genuine? I see that they can stop sending you offers if they think you are just matched betting and wondered if it was a good idea to leave it in if you can afford to.

I don't know the answer I'm afraid MrsSteveMcDonald but I have received offers from Coral and William Hill since winning all at Coral (aaargh!) and losing all at WH (phew!). I'm onto my first £50 profit since starting saturday and only using 3 bookies - it should be more as somehow I managed to lay and back a football match on the exchange (??!) hey ho.

Still deciding whether to give MB a try. Is it easy enough to withdraw your winnings from the sites if you want to cash in or stop doing MB?

Hi Fork, I've had no problem withdrawing my winnings, I haven't found a minimum amount, withdrew £8 the other day (random) I've withdrawn all my winnings from the bookies so far totalling £204 - of course I've lost money on the other side - so far have paid in £221, but have £279 in comeback whether it be to the bookie or the exchange. That's since Saturday and have 2 free bets this afternoon so looking at about 70£+ profit since then.

Thanks Cheese give it go and see what happens. Well done on your profit

I haven't had a go yet, but DS started on Sunday and is about £29 up. He hasn't attempted to withdraw anything yet.

Anyone else follow Hugh Taylor's selections on Twitter twitter.com/HughRacing? Do you know of any others?

wondering if anyone can help with this potentially idiotic question!! I've started matched betting with the oddsmonkey tutorials - Ive done the first bet with skybet and recieved 2 free £10 bets. I've run into problems placing these bets I've managed to find the football match i want to bet on, and clicked into the information section to find out how much to bet/ lay - I can't work out wheter these bets are free bets with the stake returned or are they stake not returned? This doesnt seem to be in any terms or conditions that came with the free bet ... Can anybody shed any light on this?

Free bets are stale NOT returned.

I don't understand how this works at all.
• is there an idiots guide anywhere
•do you have to declare it as income?

thank you titchy :) seemed to be too good to be true otherwise!!

I have started looking to the tutorials on oddsmonkey and it is becoming so much clearer.

Can I check what people are doing on 2up?

If there is an early pay out and you therefore now have an unmatched lay bet, are you backing the same team to win again?

2up - you can either cash out the lay bet once the bookie has paid up. The lay odds though will have dropped a lot since you placed the lay, so you'll still lose at the exchange, although hopefully not by as much. Or you can leave it, hope the other team pulls a goal backand cash out then - for much better odds! Or hope they equalise and win at both bookie and exchange!

OM, and Maybe the other websites, have a calculator so you can work out how to cash out (ie back at the exchange).

Ah thanks titchy, so basically not what I did tonight which was to back Liverpool again at a different bookie after being paid out once.

You can back again which is effectively the same as trading out on smarkets to lock in profit

Still at the point of watching training videos and plucking up the courage to give MB a try. I will sign up to Oddsmonkey as their website has made the most sense to me. Whilst I am still learning is it really as easy as looking at their oddsmatcher, clicking the bet and lay that I choose and that then taking me to the revelant websites? It just seems too easy I feel that I must be missing something. I am guessing things get alot more complicated as time goes on.

Hi Fork, it does get easier as you find your way around it!

So for example after registering if you are starting out with Coral, you find a match or something to bet on - low odds about 1.5 (or whatever Corals minimum terms are, make sure you check that. Place the bet with Coral, then on Betfair for the same match click the pink lay button - the calculator will show you your stake to enter. Do it slowly step by step with the video - I did the first few times anyway.

Remember there will be no profit from this bet, maybe a small loss, but then you will make money on your free £20 bet.

I hope that makes sense, I panicked so much after placing my 1st!

It does cheese thank you. I only want to do it short term to pay off a credit card. Keep swaying between feeling excited, to nervous, then thinking its a bit naughty I shouldn't do it. Can't you tell I am usually very risk adverse

Me too - especially as I haven't got money to lose. Another tip - sign up to Betfair via the no commission for a month offer (it's on Team Profit if not Oddsmonkey) I didn't I just went for it and missed out on that - Boo! I'm just over £80 up though since Saturday. That's from 4 offers - Coral, Betfred, William Hill and Skybet - I got a bonus £9.35 for getting the best odds on WH - don't understand it, but thank you very much .

My only problem is that I've been winning on the Bookies sites so having to wait after withdrawing to top up my exchange.

Good luck - you won't need it!