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!

Which bookies do you all have open and which is your favourite? Some are better than others.
I love my bet 365 and I opened moplay last week which has been good to me, sending a few offers via email.
I think for Cheltenham you need to go back and start using your accounts again to ensure you get some offers, so I think I will start to do that over next few weeks as well as continuing opening new ones

Ok so I think I’m going to give this a go. I signed up with a free £5 bingo offer this week and I’m currently £45 up in 3 days.

How much do you need to use in collateral monies with the exchange to begin with?

I’ve found a free MB site called freebets4all they send you recommended bets. Are they any good or is a subscription site better?

Hello! Thinking about joining in with this. Had a good look at profit accumulator yesterday. Can somebody answer me, does PA suggest to you which bets to place and where?

I'd also like to know your tactics on avoiding being gupped, particularly early on with your first few bets in an account?

I just cashed out £50 on my first bingo account (I got a free £5 stake and have won £50 since Saturday) they are offering a 100% deal on deposits so I was thinking of paying £25 straight back in as a deposit and using my spare £25 as a set up for matches betting.

If you hang on Zoflora You’ll get a better reload offer than 100%. Are you playing between 1pm - 4pm?

I can’t I’m in work!

Which bingo sites are you using? I had a free £5 stake so I’ve spent nothing. I’ve still got £10’in my account and I’ve cashed out £50 in profit.

For people wanting to give it a go I can't recommend Team Profit enough. They have a FB page and an actual website.
You can follow an actual plan with a certain king of money you want to start with, for example £10, £25.
They are so helpful!
Which bingo site was that? Sounds good.

Mister Spin slots. Pm if you want to try it as I get a £5 bonus if I refer a friend!

Will pm you.

Team Profit is definitely very good - but I'd also recommend an OddsMonkey subscription. It's invaluable software and the daily offer calendar is great for saving time.

OddsMonkey combined with the Team Profit facebook group will get anyone off to a very good start!

I'm still super happy today after Southampton v Derby - full 2up turnaround and nice £86 profit!

That's great @FreckledLeopard, can you please talk us through your 2up - what you did & when?

I just placed my Bet Victor £10 FB ACCA - scary! For Villarreal, Real Sociedad & Barcelona to win tonight - layed on Smarkets and should net £7.

I have another 6 bets to play over the weekend and another to place once the TB is settled. I'm hoping for a profit of £60-£70 by Sunday and I will have a couple more FB to place early next week once more TBs have settled.

Does anyone do the bet clubs? I can't see how they'd be very profitable once you take the weekly TB qualifying loss into account.

I second Team Profit, I've gone a bit rogue from their plan but I am using their guides, calculator and blog, invaluable!

@jjemimapuddleduck

If you're still doing the welcome offers, then I'd probably wait a bit before venturing into 2ups and build your bank a bit more. There are guides on Team Profit and OddsMonkey. In a nutshell, Bet365 and Paddy Power offer a '2UP' promotion (which is automatic unless you're gubbed - you don't have to opt in or anything.) Basically, if your team goes 2 goals ahead during the match, the bookie will pay out your bet as a win, EVEN if the other side then come back and equalise or even win themselves.

So, the idea is that you back a team with the smallest qualifying loss you can. You ideally want at least £50 stakes or more. Ideal odds would be at least 1.7. Then IF your team goes 2 up, you can either cash out at the exchange and lock in a profit OR you can ride out the match and hope the other side equalise so that you then win both at the bookies AND your lay bet wins. So yesterday, Southampton went 2 up between the 70th and 74th minutes I think, so Bet365 paid out early. THEN Derby came back and equalised, the match ended in a draw and my lay bet then won at Smarkets. So £86 profit! William Hill now have a slightly similar offer - Golden Goal - but it's a bit more complicated. Have a read of the OddsMonkey guides.

Re: weekly bet clubs - they're definitely profitable. If you aim to take a very small qualifying loss then you'll make good profits. I aim to take less than a 30p qualifying loss for every £10 trigger I do.

Ok so I’ve spent a bit of time researching matched betting and I like the guide on team profit over which bookmakers to sign up to in which order. But I’m confused about placing the actual bets! Does team profit tell you exactly what to place or not? I need to be spoon fed I think!

I'm only on day 11 @Zofloramummy, but I am using TP and started from this link - www.teamprofit.com/start-here. Once you've watched (& watched & watched) the explanation videos, you go to each offer and each offer has a clear Guide and videos to help. They do spoon feed you! They can't tell you exactly what bet to place (as odds obviously change all the time) but will tell you what to look for and why. They also write a blog, which is helpful when looking for bets to back & lay - www.teamprofit.com/matched-betting-blog.

How much did you start with jjemima? I’m happy to speculate £10, fairly ok with £25 but £100 is way too much for me!
Also 11 days in how much have you made?

I've got a lot of money tied up just now, but by the end of the weekend, I expect to have made £170-£180 profit in 14 days.

I have used A LOT of my own money though, I have deposited £915 so far in the bookies and the Exchange and have withdrawn £521 so have nearly £400 + my profits made still in play. You can certainly start with much much less, but won't be able to rocket through the offers as quickly. It's tricky to understand before you start playing, but you need to deposit in the bookies to play your trigger bet, have funds in the Exchange to lay the bet (sometimes the liability can be quite high depending on the odds) then have enough funds to lay your free bet (even higher Exchange balance required).

When you're ready to do your initial Coral trigger bet and resulting free bet, give us a shout on here and we can check it for you. If you're using Betfair, remember its the PINK odds you use (lay bet) on the 'Exchange' part of Betfair. On Smarkets, the lay odds are in BLUE.

Also your money takes a few days to reach your account once you withdraw it from various bookies and Exchanges so I've found the need to have more funds than expected as you can't move money around instantly all over the place.

How are you feeling about having that kind of money tied up? I would be quite worried I think! I’ve made £50 in free bingo since Saturday and cashed out £40. I’m getting sent daily free spins and then I’m playing bingo with the winnings.

I think I’ll probably start slowly and will definitely check in to make sure I’m doing it correctly!!

Yes it's really frightening! I trust the theory though and am bolstered by not making too many mistakes so far! I'm now using my savings for my forthcoming HMRC bill which is due at the end of the month so my aim is to be just playing with profits by that stage. I'd like to build up a big Exchange balance so I can take advantage of lots of offers.

Well done on the bingo, they are notorious for not cashing out!

PS if you're not signed up to Team Profit yet, please PM me and I'll refer you (£10).

I started with £100 (to do the £100-£1000 plan on team profit) but quickly found that as it takes the banks 2-3 days to clear the money when you are withdrawing winnings from bookies, it is quite slow to get through the offers, but once I realised this I had already done a few so felt more confident and now have £350 of my own money tied up and on £450 profit since 3rd December (I do go days sometimes without doing anything due to other commitments).

When I get to £1k I want to withdraw the £350 I invested then play purely with the profits.

I've made a couple of errors (probably about £20 worth total) but the way I see it is I'm still £450 richer than I was 2 months ago. And matched betting and low risk casinos will always have some small losses along the way. But the gains far outweigh them. Annoys me at the time but then I move on and make it back quickly.

Anybody got a clear, avoiding getting gubbed, plan? That's my main concern I think, i'd like to be in it for the long haul, so plan to make, is it "qualifying losses" early on. As far as I have been able to make out, you should choose a team or at least a sport, and place bets regularly on that team winning in the bookies, and lay the bets as best you can at the exchange to minimise the liabilities. Is that right?

Yes that’s right but there’s no way to stop gubbings.