I'm sick of emailin 20+ members so here it is......MATCHED BETTING by anksta

[anksta]

MATCHED BETTING by anksta

Had over 25 requests for this now and someone suggested it so here it is, from here you can ask questions as well because I've had a lot of emails asking the same questions.

Here is the email I was sending round:

Hi, you guys all saw my replies on ocuk about the matched betting, I’ve replied to one already with a couple of specific questions answered but I thought I’d just send one email round to all 4 of you.

First of all, although matched betting is risk free and a great way to make a little money on the side, you do need a bit of start up capital, Fundmydegree and I agree with the start up sum of around 125, that’s what I started with and if you’re nowhere near this amount I wouldn’t bother reading on until you can afford to have that amount out of your account for I’d say around a week minimum.

First thing first is join Betfair, Betfair is a betting exchange that allows you to lay bets.

Join up to Betfair using referral code 6WYVMKTDH this will give you a free £20 bet after your first few bets. Deposit £100 into betfair and then leave that.

Next is to join a bookies, most are £25 but some are different, I’d say a good starter one is Betfred.

Join there and deposit £25.

Ok, your ready to go now, probably be better though if you knew what you were doin though ey? Don’t worry, www.fundmydegree.com has a very good guide to matched betting although its referral code doesn’t work anymore so don’t use that or you wont get your 20 quid. It also has a guide to casino bonus bagging as well, I wouldn’t bother with that though as its more hassle then its worth.

Read the guide through a couple of times, shouldn’t take you long. I highly doubt you’ll understand the concept or the part where you actually make any money. If you do understand it then good on you, no one I know has the first time they’ve read or heard or whatever.

Anyway, go and have a read of that then come back to me and I’ll go through it again and answer any questions you might have. It’s up to you but I’d advise you not to do anything at all other than maybe joining and depositing until you’ve read the guide and come back to me to be sure you’re clear.

Have fun getting your head round it.

Speak to you guys soon.

Cheers

Feel free to post anythin, I would just like to emphazize the point about startup cash again.

IF YOU CANT AFFORD TO HAVE UPWARDS OF £100 OUT OF YOUR ACCOUNT FOR EXTENDED PERIODS OF TIME THEN DONT BOTHER.

Also I would like to add that I am not responsible for any of your money, I hope you all take lots of cash from the huge money grabbin companies that are bookies and if you follow the guides and the methods to the letter you will do. However, if you stray from the method and/or make an error whether it be human or otherwise e.g. your pc crashes when your makin a bet 2 mins before the event starts then it is your fault for not being prepared properly.

Sounded a bit on the mean side that but I explained it to my mate and he lost some money and it was all my fault and it was never gonna work etcetera etcetera but when I sat down and went through what he'd done he'd bet on the wrong thing with the wrong amount. So just be careful.

Right, feel free to read, doubt, question and anythin else you wanna do.

 

[anksta]

Hmm, sounds interesting. I'm reading that FundMyDegree site now.

Have you made a significant amount of money from this?

past the 600 mark this mornin, but I dont do it very often, theres a guy on Money Saving Expert forums whos made 16 grand in just under 2 years I think

I know a lot of people who have >1000 though, pretty easily too.

 

[anksta]

yeah kind of, its a very strange concept that seems impossible to work, it took me around 3 days to get my round until I just thought I'll give it a go and if it doesnt work then I'll have learnt a lesson, gave it a go and made 15 quid. Not looked back since.


Are people finding this useful so far?

 

[anksta]

Nice to see your so keen to promote making money, no doubt you will be making a tidy sum yourself from your own affiliate link within the email

Infact, its not so much a guide, more a link with your affiliate code included and a link to another website that explains it Cheeky!

the referral code on fundmydegree doesnt work anymore anyway, and also I've spent hours explaining it over messenger to 5 users so far as well, so its not like I'm shamelessly promotin someone elses hard work and reaping the profits.

The email is just to give an outline of the concept, then once the guides have been read anyone can come backl and I can answer their questions as best I can.

Here is a spreadsheet I'm usin to keep track of my money, this is the second time I'm goin round the same bookies with my dad's card for him so I've only done a couple:

And here it is blank in excel if you want to use it:

Blank Bookies Tracker Thingy

 

[anksta]

ok I'm gonna through each of these questions one by one, if I dont answer yours personally I apologise but its probably covered in one of the other answers.

Had a read and this is my gist of it....correct me if wrong.


1. Sign up with a bookies, get free bet of x
2. Back an event with the bookies using own money
3. Lay an event at betfair using own money...use calculator to ensure you retain most of your stake
4. Wait for event to take place
5. Repeat process using free bet amount
6. Withdraw fund from bookies account

Repeat with multiple bookies to make profits...?

Basically although the free bet usually comes after you've made the first bet with your own money. And you also lay the same even at betfair, you prb knew that but other people readin it might think "an event" is any event.

basically you make the same bet and the opposite bet? then you lose like £1 on your first bet but then you get a free bet, do the same again and you should gain the original amount bet minus £2

Usually works out a little bit more than £2 actually, on the Stake Returned bets (you retain the winnings plus the stake) thats quite realistic but on the Stake Not Returned bookies, your losing more like 6 or 7 quid on the free bet, realistic profit on them is upwards of £15, more if you find a good pair of bets with close odds that are relatively high, lower than 15 if not.

 

[anksta]

Start a new post:

if you can only do it once with each bookie how can you possibly make thousands?

List from Money Saving Expert:

UK/European/Australian:
Betfair * - Quidco/Referral
Coral SR * – Quidco/SUN50 sign up code
Paddy Power SNR * - Quidco
Totesport SNR * - Quidco
Betinternet SNR - Quidco
Stan James SNR
Stan James UK SNR
Victor Chandler SNR * - Quidco
Sporting Odds SR *
Betfred SNR - Quidco
Bet365 SNR
Bet24 SR
Bet UK SR *
Boylesports SNR *
Mecca SR - TCB
Totalbet SNR - TCB/Quidco (some people successful with partner accounts)
Uk Betting SNR - Quidco (as above)
Skybet SNR *
Eurobet SR * (sister co. to Coral) - Quidco
Betoddoreven SNR- Referral
Extrabet
Mansion (Euro) - Betrescue
Betdirect SNR
Expekt SR * (Euro)
Ubet2win
Betway
Gamebookers SR - Quidco
Ladbrokes SNR *
Blue Sq SNR *
Sean Graham SNR
Centrebet (Aus) - Betrescue
3Bwin SR * (Euro) - Referral
Betsson (Euro)
Sunderlands SR
Bet1128 SR
Winamax SR * (Euro) - Referral
Betclic * (Euro) - Referral
Betdaq * .co.uk and .com accounts - Betrescue
IAS Bet * (Aus) - Referral
Winunited (Euro) - Referral
Interwetten (Euro)
Bwin (Euro) - Referral
Bettingstar24 * (Euro)
Betklass (Euro)
Canbet * (Aus) - Referral
Unibet SR *
10Bet - OLBG
Betbyrne (Euro)
Betterbet SNR
BG Bet SNR
Gaming Club
Jennings Bet *
Betoto
Betsafe
Panbet
William Hill * - Quidco
Betmate
Samvo
Betathome
PremierBet
Playbanks
Supporterbet
Globet
Sportingbet (Aus)
Portlandbet (Aus)
Betking
24dogs
Binarybet
Cantorodds
Heathorns
IbetX
24hpoker (Euro)
Astrabet (Euro)
Betking (Euro)
Betole (Euro)
Parbet (Euro)
Betandgame - ipoints/Referral
Betshop
Vicbet (Aus)
Winbet (Aus)
118Bet
WBX


Those are just the UK and some European ones, there is another bigger list of Australian ones there and another of American ones. Only the first 20 or so are simple in and out ones, after that aside from a few stragglers or updated offers, most have some different t&cs meaning you have to follow other rules to obtain and collect bonus e.g. wager the bonus 4 times, there are ways round these though such as lose on the bookie and collect first time round at betfair.

How come that link says, wager £550 and you get £50 bonus at VC casino.

But VC casino says - http://www.vccasino.com/news_promotions.htm

Wager £1750 to get £40. Not worth the bother if its £1750 really?

Thats the casino, not the sports book. www.vcbet.co.uk is the sportsbook.

Fundmydegree also lists a guide on Casino "Bonus Bagging", my advice here is stay clear although if you want to give it a go I do know a few people who've made a fair wedge on that. However, I've tried it twice and lost 50 quid, it took me about 3 hours as well so I'm not doin that again. Upto you though.

how long did 600 take?

I did around 10 or so a few months ago when i first started, around March I think, made around 400 or so then I sort of couldnt be bothered and had exams and things. Then I ran into some difficulty on the smaller bookies websites as I have a double barreled name the sites were performing character checks on the name and returning errors on the hypens. If I changed it then there was an error on the card name. Thats why I got fed up but my dad (who lives somewhere else) said I could do it for him and he'd give me the money for a 10% cut.

So I started again just over a week ago and using the referrals of Quidco as well made just under 300, but I have another 50 bonus coming tonight I think which I should be able to turn into 40 or so. So made a fair bit really quickly this time round.

 

[anksta]

I would like to try this but am slightly concerned that my luck of understanding of how it works will mean I end up losing money. However I obviously would like to make some no risk cash so that I can pay off my credit card.

Follow the method and post any worries you have here and I'll try and help you out.

I'm liking the idea of this, but still very confused..

Join coral (£50 bet gets £50 free)
Join betfair.com
Put £50 on a likely odds (Tottenham Win Vs St patricks tonight for instance) on coral
£50 against tottenham winning on betfair.com

You win but actually lose as betfair is vs betting and you need to pay out your layodds too..

Then coral give you £50, so you spend £100 and end up with aroung £95 if i get it right in my head, hmm

kind of, where did you get that £50 Coral offer from? I did it the other day and it was a 10er, gonna be well gutted if theres a 50 offer on now.

If its a £50 bet you're probably lookin at profit of ~40 if its SNR (which Coral is), remember you just get the 50 your betting back both times except the second time it wasn't your 50 to start with, the profit is normally around 60-80% of the bonus.

 

[anksta]

I can think of at least three ways in which this isn't risk-free:

1. The betting exchange goes bust and can't pay you - you lose our money with the bookmaker.

2. The bookmaker goes bust and can't pay you - you lose your money with the betting exchange.

3. The small amount that you lose on each bet outweighs the gain by unlocking the free bet (I'm not sure if this can ever happen, but it's certainly a possibility)

Another problem is that it looks like it takes some time to find a pair of matching bets and place both your bets. If you're not making money at a sufficiently high rate then you're effectively wasting your time.

Ok, good points mate, match betting is essentially risk free, there certain things that can go wrong, I'll give a go explainin the 3 points you posted:

1) I hope thats a typo where you put "you lose our money" but anyway, there is more than one betting exchange you can lay at but other than also gettin their bonus (such as Betdaq or Mansion) then using another counts as straying from the method.

Betfair was the first and biggest betting exchange in the world, plus you're only betting against someone else on the exchange and you know how much there is to play with because it tells you.

2) I think you would have to do over 30 or 40 well known bookies before you go to the ones that you're runnin the risk of them goin bust and by then you would have made well over a grand I reckon and a loss like that would only be a dent in overall profit anyway.

3) If when you put the amounts in the bet calculator they come up with a more than negligible loss on qualifier or free bet, find another one, there are always plenty.



Conditions where you are likely to lose, or riskin it anyway are things such as what happens if a football match is abandoned, the match goes to overtime (different bookies have different rules concerning these).

There are a fair few outcomes that can void bets etc. but these are very very unlikely. I've made over 200 bets I think so far because I did 4 flatmates bets as well some other people for a while and never come across one of these outcomes. I have had an extra time outcome on a couple of bets but when that happened both times the bookie and betfair counted the bets as normal time results. I think its because if they count ET and penalties then there cant be a draw.

 

[anksta]

Ok, i guess i was misinterpreting odds usage in lays thinking it applied to how your "win" can be calculated.

So if i "lay" £2 against Tottenham winning tonight @ 1.50 odds, if they win, i pay out £3, if they lose, i recieve £2.

Just putting it straight in my head, you essentially put in a figure you want to win (being realistic of course) but the odds reflect what you'll lose if your lay is unsuccesful and the outcome you "lay" against, happens.

that bet: if spurs win you get £3 from the bookie, and pay out £3 at the bookies, so it would total 0 gained/lost. If Spurs lose/draw you lose the £2 you bet at the bookie but get £2 from betfair. Total gained/lost is 0 again.

 

[anksta]

We're not all maths geniuses like yourself...

Its a hard concept to get your head round, I've explained it at least 10 people so far, some doing maths degrees and they cant get their head round so I dont think that matters.

No shame in needing a little help to understand its not exactly straightforward otherwise everyone would be doin it from common sense.

 

[anksta]

I disagree. I think it's very simple (although perhaps that site doesn't explain it very well) and it doesn't require any mathematical ability whatsoever. I'll have a go at explaining it myself, and if people still don't get it then I'll admit that I'm wrong, but I genuinely believe that it's not a difficult concept if it's explained in the right way.

Matched betting is based on two principles:

1. When you make a bet, you can 'match' it by laying the same bet at a betting exchange (you effectively act as a bookie, and someone else on the exchange will 'take' your bet) which means that the proceeds from your combined position will be zero (or in practice, you'll lose a small amount). You're effectively making two bets with two different entities, in opposite directions, so tha they cancel out.

2. Many bookie's will give you free money in an account in exchange for placing a bet with them, which you have to bet with a certain number of times before you can withdraw it.

So you just match every bet you make (losing a small amount of money each time) until you've made enough bets to withdraw whatever is left in your account at the bookie's as free profit. Hopefully.

pretty much right yeah but I dont think anyone would be prepared to put £125 on the line with such a short explanation, hence the guide and this thread to iron out any concerns people obviously have,

 

[anksta]

I understand the basic principle but I'm not so clear about the detail of putting it into practice. (That isn't a request for you to explain it - I'm not considering involving myself in it )

Can I just ask how many people are really considering doin this?

 

[anksta]

I do concede that there's a difference between understanding the basic principle, and being confident enough to go away and implement it. But really, implementing the system is just following an algorithm, and a machine could do that. You don't need to understand the system.

I guess what people feel nervous about is implementing a system without being convinced that it will work (because they don't understand the principle).

Thats exactly what people are nervous about.


Anyone else thinkin about havin a go?

 

[anksta]

are we screwed if the match is a draw then

i dont really understand it fully at the moment

very intrested in giving it a go though

no because on betfair you lay a choice instead of backin it, so if you lay United to win, that means you're betting United don't win, i.e. lose or draw then you win.

I'd consider doing it if I could get hold of some figures which showed how much money I'd be making for (say) each hour I put into it. If it's really £30, as the website claims, then I'd probably do it (hey, got to make use of that interest-free overdraft sometime right?!) but I doubt that it is.

In terms of consecutive time, you couldn't make £30 an hour, but it takes me less than an hour in total to make around that. I can join a bookies, find and place qualifying bets in under 15 mins easily then maybe 20 for the free bet.

The spreadsheet I posted has some figures in a couple of bookies, plus if you factor in the Quidco aspect you can make a packet quite quickly.

 

[anksta]

Lost £25 on the VC casino idea.

Wouldn't recommend the bonus betting route

same casino I lost on, its a joke that casino thing, I'm never doin it again

 

[anksta]

I will, when the football season kicks off again.

theres plenty of football on all the time, the MLS is on still, Copa America and U20s World Cup all goin on plus loads of smaller leagues. If you think about it, you're never actually betting on anythin so as long as there are people to take your bets at Betfair it doesnt matter what football is on, might as well get started asap.

 

[anksta]

Just had a little look on tonights games and there doesn't seem to be much that gives me a decent return on my qualifying bet. Best I could find was the portugal game tomorrow @ 72% return

what bookie was that on? is 72% on your qualifier or free bet?

 

[anksta]

I would if I understood it but no matter how many times I read what people write it still makes no sense.

the concept in simplest form is a way of obtaining the free bets offered by bookies for joining without risking anythin yet still meeting the requirements.

The rest is just a way of doin that, essentially you dont really need to understand it as it is just a set of written instructions you can follow.

 

[anksta]

Is there an easy way to convert odds??
i.e on BetFred they use 7/2 for instance then on Betfair they use 1.31.
I think 7/2 converts to 4.5 - but is there an easy way to change/convert these?


hmmmm /suddenly sees this as turning into a late night lol !!

Betfair has an option to change the odds to decimal down on the left I think

 

[anksta]

Yeah thats it....

If you average 70% of £25 free bets (some sites offer up to 100) you walk away with £17.50 per site. Do 50 online bookies and its over £500

I've completed 3 and started another 1, and I'm up over 150 already, the freebet combined with the quidco referral and the betfair bonus they give you for signin up to betfair.

Join Betfair through Quidco: 25 quid
Betfair offer for entering bonus code given in OP: 20 quid
Betfred through Quidco: ~15 I think
Coral through Quidco: 30 quid
Totesport through Quidco: 25 quid

Thats 95 quid without even makin a bet.