I'm sick of emailin 20+ members so here it is......MATCHED BETTING by anksta
- Thread starter anksta
- Start date
p4radox said:
Using the calculator is just part of the method, its not worth not usin it just to check. Also just because your bettin 25 quid doesnt mean your layin 25, you could be layin anythin and just guessin wont compensate the other bet you've made properly.
mcast123 said:
Er well they've been around for at least 2 years that I know of and I dont think its the same as some of the offers casinos were offering a few years ago. I think the bookies think people will assume its not worth it.
Each bookie performs address checks, IP checks etc. so unless you're covering all them bases they'll probably find out and freeze your accounts, void your bets, that type of thing.
Students are alright though, if they're changin address each year, get a new card each year and go through them again, I'm gonna when I move into my new house.
Cobra said:
good for you, I'm not sayin you can't make money doin it, all I'm sayin is theres no guarantee, theres still a large element of risk involved with that. My mate does them each month on the monthlies, he spent 4 hours the other week doin one and came out with 4 quid or somethin ridiculous.
SiriusB said:
You make a total of 4 bets, 2 to qualify for the free bet and 2 to obtain the free bet.
You need ~120 quid because if you lose on betfair the liability involved on a 25 quid bet with decent odds is around the 90 or 100 mark, therefore that would come out of your betfair account should you lose, of course if this happens providing you have placed your bets correctly you will win just under that on the bookies.
Youstolemyname said:
High odds as close as possible, a bet of somethin like 7.8 and 8 or somethin would give a very good return, you are right though you would need high liability for that. A good return on SNR is around 15 I think. I made 17 on an SNR the other day with reasonable odds so its not impossible to find good bets.
Also, its upto you if your sure and you know the sport well but I tend to stick to football as its very simple in its outcome, I dont know what the implications could be of using baseball.
SiriusB said:Ah yeah, that makes sense. If I go in with say £20 quid and the odds were like 5.0 or something 120 quid goes bye bye.
Heh, I can't wait to try this. About to spend 700 quid on a trip so I wouldn't mind seeing some of that back
yeah, if your bettin with odds around 5 on betfair you wanna be bettin with odds at a minimum of 4.8 or so on the bookie, i.e. you would win 116 inc your stake, I would count that quite a poor bet though actually, on you're qualifier bet you wanna be aimin for at least a 92% bet retention otherwise your profit levels are gonna suffer.
Right, I'm goin bed now, hope people have enjoyed today's session on matched betting, soon you'll be the envy of your friends and have to explain it 600 times and begin to rue the day you ever said "I do matched betting" to anyone.
Anymore questions are welcome, I'll go through them in the mornin again if people want. Also it'd be good if people posted when they have started just to get a gauge of how many people are actually givin it a go.
Anymore questions are welcome, I'll go through them in the mornin again if people want. Also it'd be good if people posted when they have started just to get a gauge of how many people are actually givin it a go.
Clipsey said:ahh ok,
I mean worst comes to worst you just bank roll your betfair a/c until you can withdraw everything and make to $25 profit or whatever!!
I guess easiest option is at least try and get the lay bet to come in, but no huge deal if not.
Im doing this later today
well for the few first bookies if your winning at betfair its a good idea to not withdraw from betfair and build up a float, i.e. as muhc money in betfair as possible, that way you can match whichever bets you've made on the bookies without waitin to switch money round, it will mean that your cashflow will actually be quite far in the negative for the first week or 2, but remember that its only cash being moved round.
Its just your cash somewhere else.
bobert50 said:
yeah not a bad idea but never gonna be guaranteed anythin but the quidco referral. Man United v Southend would have been almost a "sure thing" to bet on last season but look how that turned out, its not worth not matchin the bets.
Also, for anyone considering this, the referrals you are also adding up with Quidco dont run out once your done with Quidco, try www.betrescue.com and www.rpoints.com both do another few sites payin referrals out for joining through there.
ScarySquirrel said:I just read this http://en.wikipedia.org/wiki/Matched_betting
It still makes no sense to me whatsoever.
As much as I want to make some easy money, because I don't understand it I am sure it would all end in tears.
Really wish it made sense. I understand the concept of betting and doing the lay etc. I just don't see where the profit comes from.
remember what you're bettin with and how many bets you're making.
You make a total of FOUR bets, not two.
You only ever end up with what you bet with in the first place so the first 2 bets are both your money, they cancel each other out with minimal loss but open up the free bet.
Now you are bettin the free bet and covering it with your money. The bets cancel out and you just end up with what you bet, back.
But what you bet with wasn't yours, so the profit comes from the free bet they are offering.
Yeah?
Psycho Sonny said:
thats upto you mate but if you lose it and come out with nothin i.e. Brazil win and you lose your free bet then your down a 10er then I'm not to blame.
Just had to explain to the bank why theres a lot gambling activity goin on in my account. Thought how do I tell him this without launchin into a half hour explanation of matched betting. Told him it was all my money just bein moved around with a little bit of profit and they weren't bothered. Get in.
Clipsey said:Back to the Match Betting:
How come on BetFair as you select a Bet - you go to enter the stake amount, but you can also change the Backers odds??? Not sure what this means but why not just change it to match the other site's odds to be exact - or make it more in your favour??
Or is just best left alone lol
if you change the odds, someone has to match it, i.e. accept your bet at those odds, which is takin a risk that someone will take the bets, not worth it so just stick with the ones given.
How many people have started now?
Delboy said:
All valid points, you take your money back onto the card you deposited on. If you want you can use MoneyBookers, a site similar to PayPal that lets you withdraw and swap money around instantaneously which is good to stop the wait while your bank processes, however, a lot of bookies don't allow you to qualify for the bonus should you deposit via MoneyBookers.
Setting up another account soley for bookies is a good idea if you can be bothered with the hassle, will allow you to keep track of cash flow much easier though.
Similar point about the bookies someone posted before was if they go broke and cant pay you and its fair that you're worried about them stealing your identity, you would have to get through a very large amount of bookies before you came up on one small enough to be dodgy and to be honest, most people lose interest or cant find the time after 5 or 10 if your good so probably not a worry. There are people on MSE though that have done hundreds of offers and I've not heard of any ID theft or anythin.
After 5 or 10 you'll have made a fair bit of cash so you'll probably fizzle out by then.
mehuk said:
No mate, it doesn't matter which side wins, the result is essentially pointless.
Bet 1 - My money / Lay 1 - My Money
Bet 2 - Free Money / Lay 2 - My Money
Using this you wrote with say a bet on United to beat Liverpool.
Bet 1 - My money / Lay 1 - My Money, if United win, say the odds are 2.1 and you bet 25 quid, you would win 52.50 at the bookies, but pay out ~53 quid, gain of -50p. If Liverpool win or its a draw, your 25 you put into the bookies goes but you win the amount that you laid at betfair i.e. ~25 quid, usually works out a bit less which is where the loss comes from on betfair side. Again gain is around -50p.
So from the first pair of bets, you have lost about 50p, if you won at the bookies, take out as much as possible and put it back in betfair. If you won at betfair then you dont have to worry about anythin.
They should then credit you with your 25 pound free bet:
Bet 2 - Free Money / Lay 2 - My Money
say you bet Argentina to beat Brazil this weekend, odds of 4 and 4.2 say.
If Argentina win, at the bookies you'll get 100-25 (stake is not returned in most bookies) and at betfair, you'll pay out 75.90, loss of 90p.
If Brazil win or its a draw, you'll lose again at the bookies, but win whatever you laid at betfair i.e. around £18 for this bet at these odds.
The profit comes from the money your getting back on the second bet, the bets always counter so you always get back what you bet. But when you bet with the free bet, essentially your just obtaining the free bet again, but you can withdraw it now.
Still not clear?