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

[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.

 

[Arcade Fire]

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.

P.S. Do people seriously not understand how it works? It's not very hard!

 

[GreenMint]

The thing that puzzles me, is betfair, if i were to put £20 lay on betfair on 2.10 odds to match a £20 bet on say..coral, if the coral bet lost, therefore the lay won, do you simply recieve your £20, or woul you recieve £42?

Maybe a stupid question but every site seems to have it listed in many different ways!

Edit: Coral SUN50 code works for sign up, but doesn't seem to exist when you redeem a code (i didn't bet with them thankfully) so beware!!

 

[Arcade Fire]

The thing that puzzles me, is betfair, if i were to put £20 lay on betfair on 2.10 odds to match a £20 bet on say..coral, if the coral bet lost, therefore the lay won, do you simply recieve your £20, or woul you recieve £42?

Maybe a stupid question but every site seems to have it listed in many different ways!

If the odds matched exactly, you'd receive £20 from betfair and lose £20 to coral.

If the lay lost and the bet won, you'd lose £42 to betfair and win £42 from coral.

 

[Visionary]

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)

P.S. Do people seriously not understand how it works? It's not very hard!

When you unlock the free bet you bet all all outcomes, so the money you lose is always less than £1 if the bets are closely matched, then with the 2nd round of bets you should make £6-7 from £10 or more, and then more from £20 etc.

 

[Arcade Fire]

When you unlock the free bet you bet all all outcomes, so the money you lose is always less than £1 if the bets are closely matched, then with the 2nd round of bets you should make £6-7 from £10 or more, and then more from £20 etc.

That's the thing, though - you can't always find close enough odds that the amount lost is always less than £1. You can get around it by just not matching bets if you stand to lose too much money from each bet, but then you slow down the rate at which you acquire money. On the other hand, if you're losing too much money on each matched bet, and you have to bet a few times to unlock the free bet, then you're going to be slowing down your rate of earning even more.

 

[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.

 

[GreenMint]

If the odds matched exactly, you'd receive £20 from betfair and lose £20 to coral.

If the lay lost and the bet won, you'd lose £42 to betfair and win £42 from coral.

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.

 

[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.

 

[dirtydog]

P.S. Do people seriously not understand how it works? It's not very hard!

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

 

[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.

 

[dirtydog]

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.

That is my point. It is far from simple and AF should remember that not everyone has his natural aptitude for mathematics.

 

[Arcade Fire]

That is my point. It is far from simple and AF should remember that not everyone has his natural aptitude for mathematics.

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.

 

[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,

 

[dirtydog]

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.

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 )

 

[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?

 

[Arcade Fire]

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).

 

[Ste99]

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

I am