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!

I mean I think the commission changes as it was 0% for first month and it's been a month today since I started.

I done the Ladbrokes Casino offer, wager £10 get £50 bonus. Used the bonus money on blackjack doing the Oddsmonkey strategy and come away with £141. Still working my way through the sign up offers and had £30 in free bets from coral to use up too. I’m about £500 in profit now and about 3 weeks in and still loads of sign ups to do.

Hope you don't mind me placemarking.I'll be working freelance from home soon and am going to all the research so far suggested. I know it will vary for everyone, but approx how many hours per day do you need to spend on this to make an income of £3-400 per month?
Thanks

@DianaT1969

www.teamprofit.com/team-regular

Read Team Profit. Read all of it. Twice. Watch their videos.

Everything you could ever want to know has already been written out for you.

@SushiMonster
Thanks for the link.

I have so many bets on Man City vs Liverpool tonight that I don’t know whether I’m coming or going! My Bet365 offer was only the £10 bet for a £10 in play free bet. Oh well, better than nothing I suppose.

I had loads on tonight's game too, tied up pretty much all my bankroll, and most of the back bets won which means I now have very little in my exchange for laying the free bets, and I now need to withdraw from the bookies and wait for the bank transfers to process.

I was looking into this today too seems like a minefield must read that article !

I have a hidden talent of winning every bet into the exchange

Snap Copper. I have over £400 sitting in bookie accounts and not so much in the exchange. When you withdraw from the bookie, do you empty accountbor leave a few £ there?

And I mucked up my inplay Bet365 bet so it came out of my funds tprather than using the free bet - duh!

I'm doing all my research now, reading everything. Got my spreadsheet. Will be starting next week I think.

How much did you initially start with? I get that if you start with more, you can make more more more quickly. What is ideal do you think?

It seems silly/reckless to put £500 in to this to start it.

I started with £100 but because of the bank delays of 2 days when you withdraw from betfair/bookies to put into somewhere else I've ended up putting £350 in now to speed it up. I'm impatient though. I've also become more comfortable with it after I did my first few bets so don't feel the money is at risk (as long as I double check all my bets and don't make any silly errors).

Have you seen the team profit start with £10 guide? Perhaps you can do that to start with if you're unsure. Then add more as you get more comfortable with it.

If just done my first lot. £5 with Coral to get a free £20 bet. I was proper shitting myself and went really slow, checked everything twice. The odds changed on both Coral and Betfair while I was working it out!! Got there in the end and it's all in. I will see how it all lands tomorrow to work out what to do next.

I've bet on games tonight. When are my winnings/liabilities available to me again? How long before I can do my next one?

The winnings and liabilities are available as soon as the match/race you've bet on has finished. This is why I ended up putting more of my own money in so I can do more at the same time.

Today I bet on horses for first time (had stuck to football before now just because I can understand a football game in my head haha). And I think I love the horses, the races are over so quick that doesn't tie up the liability for too long. I think I will be using horses more often now.

I’ve just placed my trigger bet, I hope I’ve got it right! It’s a bit nerve wracking this and I’m using the smallest of smallest funds!

The first bet is nerve-wracking

I do mostly horses, feel more comfortable with them than football and they’re quick! Have done a few football bets and will try to do more - markets seem a bit more stable than racing where odds change in the blink of an eye!

Ach well I decided to just get all my nerves over with at once and have now placed by free bets too. I’m sticking with football for now, I’ve read about the horses changing odds quickly and I’ll definitely need to speed up for that.

Did well on the Liverpool match last night. Good day on casino today (£250+ profit). Passed the £6k profit mark today too, all while DH and I did his tax return. Turns out I've made more profit in a few months of this than his business made that whole year (I haven't mentioned that of course!).

Woohoo it worked! I'm £12 up. I won with coral so my cash is tied up with their withdrawal - 2-5days. I've decided to add the matching funds to betfair - the coral withdrawal will reach me eventually and I didn't want to wait!!

I've placed my 2nd bet now - this time with Sky Bet. It was £10 bet for a £40 free bet. I have this on football as I too understand that a bit better!!

I'm keen to speed up to when I'm confident I will switch to horses.

Worked for me too-whoop! I’m so relieved I got it right. I lost at the bookies and I’m £13 up. Getting back on it today. @Gammeldragz your success is very inspiring, how long do you spend on it each day?

Apologies if this is a stupid question but can you put your own money in rather than using the bookies 'free' bets?

If I just decide to put £100 of my own money in it will I still win?

Or is matched betting about maximising the 'free' bets in a very careful way to get the bookies money out?

@MyView2 I probably spend 3+ hours a day at the moment. Need to reel it in a bit this month as I've several exams.
@LaurieFairyCake the value in actual matched betting (where you're starting out) is in the free bets, that's why you make a small loss on the qualifying bet you place in order to get the free bet. Otherwise you'd just lose money ones side, win the other and they cancel out. There are other way to make money later on that don't involve free bets in that way, but usually it isn't risk free and you need to be very experienced. I'm not there yet!

Gammel - amazing! Any top tips to share? I’m working through the welcome offers but finding myself getting picky now - reading OM forum reviews of bookies etc and have avoided a few bookies because people have reported issues either with site or getting their free bets. Am doing quite a few reload offers but feel as though I’m missing a big part of the puzzle as I’m only doing guaranteed profit offers and haven’t doing any ew racing offers. Can barely see myself making £1k let alone £6k so am clearly missing a trick!

Most of my profit is on casino now, I don't make a huge amount on sport, maybe £30-50 a week, as I'm still learning the reload offers. Need to get my head around horse offers before march and the madness of Cheltenham!