Matched betting god help me

[Kittykat93]

Please help an idiot out.

This is my second time of trying to get my head round it and I just can't. I signed up to loads of betting sights and 2 exchange websites, didn't get a load of welcome offers as I was already signed up from last time I tried !

But please, someone. Talk to me like a dummy. I know you have to back and lay the same match/result/winner etc. But do you put the same stake on both?? And do you only use free bets and offers or your own money?

Sorry I know they are probably ridiculous questions but I really want to try this! After maternity leave I've been left extremely skint and this seems a good way of making a spare bit of cash. Not expecting a miracle but maybe 100 a month or so

Thank you for anyone who takes pity on me

Sites not sights ffs

hiya - I'll take pity on you!

I've dabbled a bit. Basically you have the principles right - you back a bet and then you lay the same bet. You may have a qualifying loss when doing this .

To figure out how much to lay off a bet you need to use a matched betting calculator - ie the one on Team Profit is free to use - but there are others on the internet. You put in the odds on both back and lay bets.

Are you with me still?

And that's it.

Quite often - you go through this procedure to get a free bet.

When you have your free bet - do the the same again but put in SNR - stake not returned - into the matched betting calculator to figure out how much to lay. I use Smarkets as an exchange - 2% commission - not too bad.

Have made around £200 from Cheltenham this week.

by the way - you need to start out with around £50 to £100 of your own money - put around half into the exchange

I would recommend having a totally separate bank account just for matched betting. Definitely worth the extra hassle, as you don't want a trail of gambling stuff going through normal current account.

Thank you so much for replying!

I think where I was going wrong is I was thinking you put the same amount on the lay bet as the back bet.

So I'm going to try and find one of those calculators and work out what I need to do!

Everyone says that with matched betting you should have the odds as close as possible on both the back and lay bet. But that won't make any money will it?? Won't I just be breaking even as they cancel eachother out?

Your first bet is your qualifying bet so you do try and get close odds and yes they do cancel each other out .
BUT then you get a free bet and that is where you make your money, usually about 80% of free bet so £8 on a £10 bet.

Have a look at Bonus Bagging by Mike Cruickshank. Service costs about £30, for that you get simple to follow emails that talk you through the back/lay bets for new bookie sign ups. So, you request an email, it arrives with the details of the bookie, the event, the exact amount for the back bet, the exact amount for the lay bet. You place the bets, wait for the outcome, and then request another email that talks you through using the free bet. The free bet is where you make the money, not the initial back/lay.

You get talked through about 15 sign ups, meaning at the end of Bonus Bagging, you're about £500 better off and a have a good understanding of matched betting. Then you can either do it all for yourself or use other services like Profit Maximiser or similar. Was honestly the best £30 I've ever spent. Life changing for me. Good luck!

There's a free iOS app called MatchBet if you haven't got a subscription. As fairy says your qualifying bet should be cancelled out by the lay, but a free bet is underlayed (unless the lay odds are much higher) to give your profit.

You need to read team profit, it’s free and will set you straight.

I second Team Profit. They have great video guides and a calculator.