This seems like free money

I've missed the last couple of pages. So can someone just confirm that you can place £30 on Betbright, lay that bet on Betfair, and come out one top either way? Seems too easy...
 
silversurfer said:
Yea I did the same Pho, thanks for writing it up. Drivepool does look useful
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Nice :).

As for DrivePool, I've been umming and arring between this and storage spaces built into Server 2012 (also exists in Windows 8) and DrivePool is the clear winner for me.

Before I get around to setting it up I'm currently soldering half the jumper wires in my new (from old) server PC after a mouse decided to eat them :mad:.

manic111 said:
I've missed the last couple of pages. So can someone just confirm that you can place £30 on Betbright, lay that bet on Betfair, and come out one top either way? Seems too easy...
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The offer has expired now given the game's already happened, unless they do another one for the next game.

But yes, in essence this is exactly what matched betting is. You bet on opposite outcomes (bet on the bookmakers, lay it on Betfair) in an attempt to extract the free bonus deals with little to no risk to yourself.
 
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Pho said:
Oh. Yeah :).

The deal we took out earlier was a £30 bonus specifically on the England v Italy game + a free £10 bet on England v Uruguay on Thursday but the same principles apply with matched betting and this offer.
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Haha fair enough! I'll give that a go then.

I'm a little bit confused about laying bets. If I lay someone at 5/1, and put the "backer's stake" at 5, does that effectively mean that I am matching the bet of someone who puts a fiver on that bet to succeed? Therefore, in those circumstances, I would want to put the backer's stake to 6 to match the £30 bet?

Edit: And can you definitely withdraw from Betbright either way, win or lose?
 
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manic111 said:
Haha fair enough! I'll give that a go then.

I'm a little bit confused about laying bets. If I lay someone at 5/1, and put the "backer's stake" at 5, does that effectively mean that I am matching the bet of someone who puts a fiver on that bet to succeed? Therefore, in those circumstances, I would want to put the backer's stake to 6 to match the £30 bet?

Edit: And can you definitely withdraw from Betbright either way, win or lose?
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I'd switch your odds to decimal mode on both sites, it's easier to understand:

On Betfair make sure you're in the Exchange tab and then click the pink odds, they're the lay bets. You do not want to be using the blue ones.

Use http://www.matchedodds.co.uk/matched-betting-calculator/ to tell you what to lay on Betfair.

So in this example:
Bet amount = £30
Bookmaker Odds = whatever the odds are for the win/lose/draw at Betbright (let's say you pick win at 2.0)
Betting exchange odds = whatever the lay odds are for the exact same choice as above (win, at say 2.1 odds) from Betfair (remember to select the pink one to lay it)
Betfair commission is 5% (or 4.99% or something very close to) so leave that set

Hit calculate. It'll tell you your lay stake is £29.27. That's how much you want to lay at Betfair.

  • If the bet at Betbright wins you win 2.0x£30=£60 and lose £32.20 (£29.27 * (2.1-1)) at Betfair (you're paying out your liability: the loss to the punter of their staked £29.27 at odds of 2.1). You result in £27.80 profit overall as the free £30 is returned to you.
  • If the bet at Betbright loses you lose £30 at Betbright but 'win' your lay stake of £29.27 at Betfair. At this point your balance is -£0.73 but Betbright refund you £30 so you end up with £29.27 with-drawable profit overall.

The biggest risk with matched betting is differences in the rules at different sites. Overall win/lose/draw are fairly easy so stick with them. With things like 'Rooney to score' one site may only include the first 90 minutes, the other may include the whole game + overtime so you could end up losing on both sides if you're not careful.



As far as I'm aware you can withdraw either way at Betbright - their live chat told me it's refunded as cash to your account rather than another "free bet". I'm waiting until Thursday before I do mind.
 
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Pho said:
I'd switch your odds to decimal mode on both sites, it's easier to understand:

On Betfair make sure you're in the Exchange tab and then click the pink odds, they're the lay bets. You do not want to be using the blue ones.

Use http://www.matchedodds.co.uk/matched-betting-calculator/ to tell you what to lay on Betfair.

So in this example:
Bet amount = £30
Bookmaker Odds = whatever the odds are for the win/lose/draw at Betbright (let's say you pick win at 2.0)
Betting exchange odds = whatever the lay odds are for the exact same choice as above (win, at say 2.1 odds) from Betfair (remember to select the pink one to lay it)
Betfair commission is 5% (or 4.99% or something very close to) so leave that set

Hit calculate. It'll tell you your lay stake is £29.27. That's how much you want to lay at Betfair.

  • If the bet at Betbright wins you win 2.0x£30=£60 and lose £32.20 (£29.27 * (2.1-1)) at Betfair (you're paying out your liability: the loss to the punter of their staked £29.27 at odds of 2.1). You result in £27.80 profit overall as the free £30 is returned to you.
  • If the bet at Betbright loses you lose £30 at Betbright but 'win' your lay stake of £29.27 at Betfair. At this point your balance is -£0.73 but Betbright refund you £30 so you end up with £29.27 withdrawable profit.

The biggest risk with matched betting is differences in the rules at different sites. Overall win/lose/draw are fairly easy so stick with them. With things like 'Rooney to score' one site may only include the first 90 minutes, the other may include the whole game + overtime so you could end up losing on both sides if you're not careful.



As far as I'm aware you can withdraw either way at Betbright - their live chat told me it's refunded as cash to your account rather than another "free bet". I'm waiting until Thursday before I do mind.
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Amazing, thank you for the explanation, and that Matched Odds site is very useful!

When you say you're waiting until Thursday, do you mean to place your bet or to withdraw? Why Thursday?

Thanks again :)
 
Moneysavingexpert used to have a whole forum dedicated to matched betting if you want to do it afterwards and get notified of deals and stuff. I made a few hundred out of it years ago.

I'm waiting until Thursday just so I can place my free £10 bet before I cash everything out and close my account. Just to be slightly less suspicious really. I'm sure it wouldn't matter either way.
 
garriec said:
You must have hit a cracking bonus round, or been staking massive £10 spins! Either way, congratulations!

From what I can tell, you have met the requirements. They will prob delay the withdrawal until you show them ID etc.
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aye, was doing 12.50 spins. the way i figured, i didn't have anything to loose.

im not a gambling man never have been, it was only with the world cup and guys in the work putting bets on that i thought i would give it a go.

i kept checking my withdrawal balance and it said 0. kept playing up to about £1200, checked it again and it said i can withdraw £1200.

i thought no way. i went to get my dad up to double check it, while i was away it was still spinning through 13 free bonus spins. as he was checking it it ran up to £2870.

as i said im not counting my chickens till the money has cleared into my bank.
 
Pho said:
I'd switch your odds to decimal mode on both sites, it's easier to understand:

On Betfair make sure
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Also if doing betfair then might as well get some sign up bonus for that as well. Or if you twist my arm I'll refer you from my account and we'll split the proceeds ( I think that is more). No point turning down free money :D

I found the old site on betfair easier to understand, theres a button to switch over. Then click show P&L under options and it will make obvious how much you win or lose on each outcome.
So yesterday when I layed england to win it did show 28 for a draw, I wasnt sure about that but good to clarify


I wont hedge the argentina to win at 4-1 bet, thats worth just leaving right. Unless its cheap, maybe I'll check
 
Did that Coral one earlier, it gave me an error but I just rang their freephone up and sorted it.

Doing this betright one now.
 
4p said:
You'll get a tenner back with £30. Not great.
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Tell me if i can do this before i do it.

Signed up for 30 riskfree bet, going to deposit 10 and bet 40 total. if i win its 53 quid cash and out it comes if i loose i have 30 cash and i can withdraw that 30? I did ask on live chat and was told the 30 is refunded in cash not freebet
 
From what I gather you don't get £30 'credit' you just get a bet upto £30 covered. So deposit £30 get £30 covered. Deposit £10 get £10 covered.

You can't deposit £10 and get an extra £30 for 'free'.
 
4p said:
From what I gather you don't get £30 'credit' you just get a bet upto £30 covered. So deposit £30 get £30 covered. Deposit £10 get £10 covered.

You can't deposit £10 and get an extra £30 for 'free'.
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Re-read it. Not worth it for 10 quid really :/ Ill wait and see if anymore pop up ill keep my account open through world cup
 
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