Matched betting - who's done it and who's good at it? (No Referrals)
- Thread starter knowlton
- Start date
Soldato
Last time I really hit this hard was during the 2016 Euros. I made about 4 grand over the tournament.
Then.....a lot of bookies dropped me for their offers and I kind of tuned out.
Tempted to start again though with the wife.
Then.....a lot of bookies dropped me for their offers and I kind of tuned out.
Tempted to start again though with the wife.
Soldato
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- 22 Nov 2007
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I don’t really get this. If i bet on chelsea to win , i also have to bet on them to lose and draw? Seems messy.
Soldato
Read some of the training guides on it.
In theory correct, its a double bet across a bookie and an exchange that will lose a small amount of money most of the time (thats the goal), but its a bet that will trigger a free bet at the bookie, and this is where the profit is made.
Soldato
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- 22 Nov 2007
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I’ve been mug betting for so long i don’t know why i didn’t think of doing something like this sooner.
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Soldato
Basic level matchbetting is this :
1)Find bookie that if offering a promotion (usually bet X amount on this game, or bet on this, or bet on anything ) and get a free bet of X value
2)Use matchbetting software and bet on with the bookie to trigger the free bet (i.e Chelsea to win)
3)Go to exchange (Smarkets usually because of low commission) and bet for Chelsea to lose or draw
4)If you used the matchebetting software correctly, this will trigger a small loss most of the time. Either the bookie or the exchange will win.
5)Get free bet in bookie account
6)Use matchbetting software again taking into account free bet, find best bet that will offer profit
Rinse, repeat
1)Find bookie that if offering a promotion (usually bet X amount on this game, or bet on this, or bet on anything ) and get a free bet of X value
2)Use matchbetting software and bet on with the bookie to trigger the free bet (i.e Chelsea to win)
3)Go to exchange (Smarkets usually because of low commission) and bet for Chelsea to lose or draw
4)If you used the matchebetting software correctly, this will trigger a small loss most of the time. Either the bookie or the exchange will win.
5)Get free bet in bookie account
6)Use matchbetting software again taking into account free bet, find best bet that will offer profit
Rinse, repeat
Well not particularly messy, it is just a way for people to both take advantage of the free bet and lock in a profit for each free bet they take advantage of.
You could have course (if you were serious about it and going to take advantage of multiple offers) not bother with it and just take advantage of the free bets without the additional laying at exchanges etc.. it would still be +EV to do so and in the long run you'd be better off as you'd not lose money via the exchanges. I guess psychologically people are risk averse and generally prefer each individual offer to result in profit and are perhaps willing to sacrifice some long term profits in order to get some reassurance from that.
Essentially you could look at laying as a form of insurance against variance, the cost of which is simply the costs you incur when laying at the exchange.
Anyway if you want the deets on matched betting then I hear that @Diddums is the guy to sort you out with a few links etc..
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No. You bet FOR and AGAINST the same outcome, so you bet on chelsea TO WIN at the bookies and you bet on chelsea to NOT WIN at the exchange. Regardless of what happens the financial implications for you are the same.
And cheers @dowie.
Soldato
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- 22 Nov 2007
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How do place a bet on a team not to win? Do show me good sir.
You lay at an exchange as per the previous post. Take a look at say the Betfair and Smarkets websites, they'll have instructions there showing you how to bet and lay on their exchanges.
Diddums will no doubt send you some links soon anyway with a guide to matched betting.
Soldato
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- 22 Nov 2007
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Oh my what an idiot I am. Have had a betfair account for ages but have always just used it as a regular betting site, just clicked on "exchange" and its a whole new world to me. Cheers.
Soldato
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- 30 Sep 2005
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smarkets is where you need to be 
word of warning with match betting, and the long timers will all agree. Never, never, NEVER be tempted to move from match betting to real gambling. You may think laying off an injured and tired sunday league team to lose against an inform and fully fit real madrid is a dead cert.....but I've seen it time and time again. The minute you start gambling, you see your profits drop.
Become a robot, stick to the system, remove emotion and stick to regular small profits.
word of warning with match betting, and the long timers will all agree. Never, never, NEVER be tempted to move from match betting to real gambling. You may think laying off an injured and tired sunday league team to lose against an inform and fully fit real madrid is a dead cert.....but I've seen it time and time again. The minute you start gambling, you see your profits drop.
Become a robot, stick to the system, remove emotion and stick to regular small profits.
Drop SpartaK a trust mate, spread the love a bit
Should ban @Diddums for all these referrals. And also for not helping me out last year 
I seem to have accounts with all bookies and when I looked at using one of the calculators on oddsmonkey or whatever it was, everything came out with negative profit.
I seem to have accounts with all bookies and when I looked at using one of the calculators on oddsmonkey or whatever it was, everything came out with negative profit.
Should ban @Diddums for all these referrals. And also for not helping me out last year
I seem to have accounts with all bookies and when I looked at using one of the calculators on oddsmonkey or whatever it was, everything came out with negative profit.
Hit me up fella, more than happy to help out. Actually I should prolly just do a video or summat explaining it all.
Having accounts already only means you muss the sign ups, but the reloads are pretty good too.
No you just see your variance increase, your profits (in the long run) should be greater on average. If you can remove emotion/are happy with losing on individual offers etc.. and can cope with the variance then you can get rid of the laying aspect - that part of it is -EV and is just there as insurance against variance and perhaps, psychologically, more reassuring for people who want to be able to say they're not gambling etc...