Matched Betting

[orchidsundertrees]

I know there have been numerous threads on this topic, but I have struggled to understand how to go about getting started. The more I read about it the more overwhelmed I become. Spreadsheets, separate bank accounts , odds, blah blah . It may as well be quantum mechanics!
I need the money for a specific reason so I need to get to grips with it all and get started. I am an intelligent person, I just need to persevere.
I would really appreciate some very basic advice. I know about OddsMonkey and other sites. I have watched the videos and understand the basic concept, but then I am lost. I don't want to make mistakes and lose money.
Help!

There’s a video here that takes takes you through it step by step

You’re basically taking advantage of the free bets that bookies offer for example when you sign up with coral you place a bet then you get free bets once your bets have settled and these are what you make money from

You don’t lose money as for the first bet you place an opposing bet at an exchange - called a lay bet so if you place a bet at coral for Man U to win, you place a laybet for Man U not to win at an exchange like Betfair.

Once your bet at coral
Has settled they give you free bets but you underlay them to make a profit- the calculator on profit accumulator or oddsmonkey gives you all the figures

Do they actually tell you what to do? I finally understand the concept I think. However, calculating how to make a profit when you are laying and matching a bet with the same odds is something I am still trying to grasp.
What I want is something that does the work for me really! I know it sounds lazy but beyond a certain point i become overwhelmed!

It still seems like a huge faf to me, you've effectively got to place 4 bets for every win... never mind keeping track of odds, using separate bank accounts, trying to avoid getting 'gubbed' etc etc

It’s not really a faff once you’ve done the sign ups there are loads of offers to make money, darts offers atm are amazing plus football nfl etc

The first bet I did took ages with pausing the video and checking and rechecking now I just use my mobile and can easily place 20+ bets in 20 mins for Saturday football

I'm planning on starting today actually OP!

Make sure you check the Cashback sites before signing up anywhere. For example, if you deposit £10 with Betfair, Quidco give you £10 cash back.

Yes jem I agree. I feel overwhelmed by it. I have finally understood it all, but then placing the bets seems like a minefield!! Otter, do you want to hold my hand and maybe we could do it together?

Yes Orchid! that's a fab idea.

I'm going to attempt using profit accumulator and do the free trial as soon as DS agrees to take a nap. Or bedtime at this rate.

How much are you aiming to make?

Make sure you check the Cashback sites before signing up anywhere. For example, if you deposit £10 with Betfair, Quidco give you £10 cash back.

^Yes! I have £52.50 in TopCashback thanks to this!

I started a few weeks back OP, following "starting with £100" on Team Profit. It's been fine. I have made a few mistakes, all due to rushing things, so you can guess what my advice would be.

I'd like to make at least £200 a month, but a lot more would be great. I just don't really get how to get started. I don't like all these different registrations etc using my personal details, but I suppose that's the only way to do it.

I know Orchid, I'm not keen either! I've set up a different email though, and will potentially set up a bank account if I get into the swing of things. I think if we both just take it slowly we'll be fine and I figure even if I bugger it up the first few times, cash back means I haven't really lost anything.

I'm aiming for £500. If I can save £12000 over the next two years, I can give up work for 12 months and do the last year of my degree full time (rather than taking 2 years to do it) which will really help us in the long run.

Can I be really cheeky and ask you how much you've made so far essentialhummus?

£150 (give or take) plus the cashback.

I’m not sure how I’ll do when the obvious offers run out but there is a very active and helpful TeamProfit Facebook group for tips etc. Just take it very slowly at first, don’t skip steps etc.

How you getting on Orchid?

I was all excited to get started this morning, found my bets and everything, but coral won't let me at any payment methods for some reason! Just keeps coming up with error

Guess I'll try again later. If not I'll move on to another offer I guess.

I haven't started yet Otter. I am still not sure about placing bets and what to do!

Have you watched the video on profit Accumulator 100 times ? That really helped me. Then when you go to do the offers it sort of walks you through if with a bullet point list.

Haa ha!! I watched it about five times, and it's finally sunk in. I will have another look tomorrow.

I'm so glad it's not just me Orchid ** it's taken bloody ages for me to get it. I'm got going to have another go when DS and DH are in bed.

If I get the hang of it I'll have about £300 from Leapforce to chuck at MB on the 14th of Jan so I'm crossing my fingers I can get stuck in if Coral will bloody let me. Let me know how you get on.

I've done it!

I'm 99% certain I've done it right, hopefully we'll know by tomorrow. I stand to make £11.97 profit if I haven't mashed the wrong buttons. Going to make sure that one works before I move on to the next offer.

You just have to take the plunge and sign up with one company. Navigate around the websites to familiarise yourself with them and use one of those calculators which tells you how much to lay and how much the liability should be. I found that understanding the theory doesn't help much with the practicality of what to actually do. I find checking that the liability the calculator shows and the exchange shows match gives me the confidence that I'm doing the right thing.

Does anyone know whether you can do the Coral new customer offers if you are already a Ladbrokes customer?

I've just watched Profit Accumlator again. It is just SO complicated. Otter, how much are you hoping to win? I get it till halfway through the video on placing bets and then it's just overwhelming.

I started matched betting in January and am almost £5k better off thanks to doing it. Yes, it is a lot of 'work' to make a couple of pounds here and there but it does all add up.

My advice would be to start with the lowest stakes you can get away with (I made the mistake on one site of placing (and laying) a £5 bet as my first one, so didn't get any freebies that time!)

You will make mistakes while you're learning the ropes, but if you double and treble check everything this shouldn't happen often and lower stakes mean less potential losses.

Team profit is a really good place to start as they walk you through the welcome offers. The skill is getting the smallest 'qualifying losses' and making as much as you can from free bets.

Take your time and see if it's for you. It can be quite time consuming, but as I was struggling to find school friendly work it has been a useful source of income for our family

I lived off matched betting for three years. Looked at it often, kept deciding against it, looked again, too scared to try. Then signed up for something called Bonus Bagging, cost about £30. Run by a man called Mike Cruickshank. I think his sign up websites look a bit scam-like, but if you google him, you'll find lots of good reviews about him. So, Bonus Bagging is a service that walks you through all the bets you need to place to open up about 15 different bookie accounts. You request a bet and get sent an email telling you exactly what bet to place with which bookie and the lay bet on the exchange. When that's settled, you request another email which tells you exactly which event to place the free bet on and the lay bet again. All the calculations are worked out for you. Very easy.

After working your way through the bookies included in Bonus Bagging, you'll be a matched betting expert and be able to find and place your own bets. Although, Mike has other brilliant products that help find the offers, every single one well worth the money.

Honestly, you've just got the take the plunge. I managed to stay at home with my DC for the first 3 years purely because of signing up for Bonus Bagging and then Profit Maximiser. Life changing for me. Good luck!

Thanks, I had heard about Bonus Bagging. I think you're right. I have been toying with the idea for ages, and am gradually working my way up to it, bit by bit!

I should win £11 ish Orchid. I'd have a good look around, there are so many matched betting guides out there, if profit accumulator isn't clicking into place, I'm sure another guide will

It worked !!!

I lost £2.72 with Betfair, and won £2.50 on coral on my qualifying bet. Then I made £11.67 using my free bets. I'm so relieved I didn't cock up.

Going to hopefully start to work through the other offers tonight I hope you've found something that makes sense Orchid.