Matched betting question

[MummytoCSJH]

I've gone through everything on PA and placed my qualifying bet for a football game at 6pm. I have gone through the other things I can get on for tonight. I'm just wondering where the (£15ish) profit they mention comes from. I put £10 in to make my qualifying bets which I've obviously lost as I'll be minus, so after I put more into Betfair to cover the liability even if I earn £15 with my coral £20 I'll still be down? Do they just not count that first £10 as a loss for profit purposes? How do people earn hundreds, I'm looking at max £5?

Btw I have requested to join fb group but haven't been accepted yet

I've read a few threads on here and it seems to be more about the amount you can put in. Would £200 be enough to start properly? As I've mentioned I've just done £5 Coral and £5 Betfair so far.

I'll try and make sense but it's hard to write!
So your first £5 bet, you should be getting a loss of less than £1 (more likely to be pennies. Because if you lose at the bookie, you win at the exchange and vice versa
That qualifies you for a free bet for example of £10. Same principle but you should make around £7 on this one
And so on
You get your liability back

And yes £200 more than enough. It just means you're not waiting for bets to settle to free up liability so you can do more at a time

Calculator examples for a qualifying bet and a free bet (use stake not returned to calculate this)
You want close matches, low odds (check t and c!) for qualifying bet and close matches, higher odds to make more from your free bet

Examples here
https://matchedbettingblog.com/matched-betting-guide/#.XX--tyTTUlQ

Okay great, that's how I understood it, just wanted confirmation from a real person rather than a website haha! I'll put £100 extra into Betfair to cover liabilities then and see how I go from there. I think it was about 17p lost on first bet which is fine as long as profit on the £20 free bet is more than 10.17! Thank you so much again. If anyone have any further tips I'd love to hear them:)

Yeah £20 free bet you should be looking around £17 or so

You havnt lost the first £10. You've lost 17p.
You need to deposit money into the exchange and also into whichever bookies you're using. One of those will lose and the other will win. You end up with a teeny loss.

You repeats the process with your free bets. You will lose on one side and win on the other, but you will be in profit no matter what way it goes.

My first qualifying bet hasn't finished yet, do you mean whichever way it goes ill get the £10 less the 17p? I've used my free £20 on Kempton at 7 and looking around £13 up so that should be okay, I'll just see how those go then when I've built up enough I'll be taking out the original money I put in and keep playing with the rest - I think? Been accepted to PA facebook page too now!

Yes. Whichever way it goes, you will only lose what the calculator told you. So you will lose 17p.
Your money will end up on the bookie's site if the bet wins there. If it loses there, then you win on the exchange to your money ends up in your exchange account. Whicver way it goes, you get the money back (minus the 17p).

One of my bets has been settled now so even though it's only a small amount of profit I've taken it out leaving the original start up amount in there to do more. Think I'm getting the hang of it, only doing small ones worth a few £ until I fully know what I'm doing and have paid back into my account the money I put in in the first place. I'm already quite a bit above the amount of cash I originally put in there - just need go find some more offers now! Thank you!

You should really try to leave the profit there if you can. You should have a float of a few hundred or more which you can use. Then you can do lots of bets at once and also do the higher ones like bet £100, get £100 etc. You need a large liability to do those.

Yes, what I mean is I'm leaving my original float amount in there all the time but anything above that taking out. Well I'm £12.66 today which I guess isn't much but for my first 2 bets I'm quite happy with that!

Betfred can't verify me yet as I don't have a utility bill or bank statement (who gets paper utility bills or statements anymore?!) Despite me uploading my passport and driving license with matching address, so I'll wait and see if the manual verification comes through tomorrow and have a go with a bit more money :)

I just sent them a screenshot of my phone bill from my online account. If you get your bills electronically then just screengrab one.

Great thanks I will. It wouldn't let me upload a picture, only take one, so hopefully if they need it they'll email me. Well I probably shouldn't risk it/branch out already but doing some searching on Ladbrokes and Betfair I've done another 2 bets totally by myself for a higher amount and they've worked out well! a bit more confident I know what I'm doing now after those, researching the odds etc myself. Leaving it for tonight but will have another go tomorrow :)