Matched betting help!

[YenneferOfBattenberg]

I started to try this out today, as I am in desperate need of an income boost, but I'm so bloody confused. I'm trying to place a bet using free bets on Coral. I have four free bets of £5 each and I want to bet £20 in total in one sporting bet, but I can't seem to add more than one free bet at a time? I'm suddenly feeling a bit out of my depth...

Do I/can I place 4 separate £5 bets on the same event? I've never gambled in my life so I have no idea what I'm doing. I'm following a step by step guide but it doesn't cover how to actually place the bets! Oh dear!

Yes, you will need to make 4 separate bets of £5 on Coral, but can lay them in one amount on the exchange.

How did you place the qualifying bet that gave you the free bets?
Just follow the same pattern. The only difference is that for a qualifying/trigger bet you are looking for low odds and a small difference between the bet and lay bet resulting in a small loss eg just pennies. For the free bet you want higher odds, although the difference between the bet and lay bet should also not be too large.
Team profit has some really straightforward videos that explain everything. It can seem a little daunting at first but once you get the hang of it you will be able to sort all your bets out in just a few minutes.
Find your bet - ideally at 4+ if using decimal odds and then check the lay bet on Smarkets or bet fair and put the numbers in the matched betting calculator, including the commission amount eg 2%. The calculator will show you what your lay bet should be and also the liability you need to cover. You will need to have sufficient funds in your lay account to cover the liability or you will not be able to place the lay bet.
I am not sure what the rules are on coral but perhaps you can only use one free bet per event. This is not a problem as it’s easy to find multiple events especially with the euros on.

Thanks both. I'm starting to think this is definitely not for me. Placing the qualifying bet was straightforward as I was using cash from my balance, it's using the free bets that has totally flummoxed me. I'm going to see the outcome of my qualifying bet and then go from there I think. I'm not sure I can handle the worry/possibility of losing money that I cannot afford to lose. I suspect I may not be savvy enough for this matched betting lark and it seems more complicated than it first appeared... Although now I need to try and find a different way to top up the gap in my income. Any suggestions welcome!

Honestly, once it 'clicks' in your brain, it really isn't difficult at all (especially if you follow the step-by-step guides), and you can't lose money if you do it correctly.

How far in advance did you place a bet if you dont yet know the outcome of your qualifying bet? It isn't always a good idea to bet too early, the same day or the day before is usually best.

It does become more straightforward once you get the hang of it - I was really nervous when I started.

Have you laid your qualifying bet? I only ask because it shouldn't matter to you what the outcome is - your qualifying loss will be the same whether it wins or loses!

Just remember to use Free Bet SNR in whatever calculator you are using, put in the correct percent commission and you will be told the lay figure and your profit.

I second Team Profit as a great resource and they were always really helpful on live chat when I had a question.

Yes, that was the other mistake I made. The football match I bet on is today (I placed the bet on Friday). I didn't pay any attention to the date (this wasn't mention in the guide I followed) but it makes sense not to bet on something too far away, with the benefit of hindsight! If you can recommend a particular guide I'll have another look. The one I used seemed good at first glance, but I was still a bit confused afterwards (clearly).

I also found both of the websites I've signed up to (Coral and Betfair) incredibly confusing. Nothing about it seemed straightforward!

Team profit on Facebook is the way to go - their guides and help are brilliant. I would never recommend trying to start matched betting without their help.

There's a lengthy and pinned thread on this topic on MoneySavingExpert forums. Google it using a site search. Everything is explained! (I don't know anything about it myself but remember reading it as the concept was intriguing!)

Follow the guides on Team Profit. Read the instructions several times before doing anything and you literally cannot go wrong.

@YenneferOfBattenberg

Thanks both. I'm starting to think this is definitely not for me. Placing the qualifying bet was straightforward as I was using cash from my balance, it's using the free bets that has totally flummoxed me. I'm going to see the outcome of my qualifying bet and then go from there I think. I'm not sure I can handle the worry/possibility of losing money that I cannot afford to lose. I suspect I may not be savvy enough for this matched betting lark and it seems more complicated than it first appeared... Although now I need to try and find a different way to top up the gap in my income. Any suggestions welcome!

It really is not difficult once you get the hang of it. I do, however, understand your concerns as it took me 45 mins to place my first free bets as I kept checking and rechecking! Watch the team profit videos as many times as you need to.

Don't get disheartened. I found it complicated at first but ended up practically being able to do it in my sleep.

As earlier.poster advised, just.make sure you are using the right calculator. And stick to straightforward sports like football until you're more experienced.

Also.look at Save the Student