Matched betting - who's done it and who's good at it? (No Referrals)

G_Wizz · 5 Apr 2023 at 14:30

After about 18 months I made £7500 and have just about been stake limited and banned from promotions from most bookies, or at least any that have worthwhile ongoing offers. About £100 a week on average but not really worth the time and effort unless you have a lot of spare time and do it for a bit of a hobby. I know there are people that claim to make a living from it but I doubt thats possible long term unless you have people willing to let you use their ID,s. Whether you are laying off the bets or not eventually you will get limited at every single bookie once they realise you are winning consistently.

I would have quit about 6 months ago but I stumbled accidentally on a system to guarantee a profit on horse racing at a certain bookies, at first I was their best pal because I was placing a lot of bets every day, they invited me to apply for their credit card, a few days later I was banned from promotions and stake limited to £5, after placing a couple of £5 bets the limit went down to £2. Thats when I realised it's all a big con, they are supposedly gambling institutions which means you can either win or lose, but thats not possible, once they realise that you can win consistently they will stop you being able to win by limiting you stake down to a few pence.

iron_monkey · 5 Apr 2023 at 14:41

The bookies dont care if you win or lose, they care if you take value, so close back and lay odds, free spins, eachway bets on horses will get you gubbed quickly.
Sometimes you get lucky and last a while othertimes you get gubbed very quickly. You have to take value to make a profit, You can also arb them after you're gubbed until stake restricted.
Matched betting used to be easy years ago with free bets worth £100's. Now you have to work 100 times harder to earn a few pennies.

You can still earn £1000+ a month but it takes a lot of time and luck hitting 2ups and extra places or you could try casino but the offers are nearly all gone now and variance on the slots means you could go on massive losing streaks before you get back in to profit.

G_Wizz · 5 Apr 2023 at 14:54

If you take value you win in the long term, thats what value means, you are betting on 100% or more returns.

There is no value in 2 ups, they have already factored the cost into the odds. Look at all the bookies that offer 2 up they have enhaced odds without the 2 up included.

The gambling industry is a con, but so are the people who run the matched betting sites, they have all been stake limited and banned from promotions so they try to make money by charging gullible newbies £x a month.

Also arbing is probably the quickest way to get limited if you are using an oddsmatcher, if you are using an oddsmatcher other people will be using the same one and the bookies can easily spot a flurry of bets on some obscure match or event.

iron_monkey · 5 Apr 2023 at 15:03

I average over £1000 a month mostly from 2ups bet365, sometimes paddy and rarely sky.

dowie · 5 Apr 2023 at 15:08

Yup, someone months/years ago was in denial about this but bookies ban or limit winners*, I think it's pretty shady how they do that and shouldn't really be allowed, if they're happy to take X amount at Y price then it shouldn't matter who the customer/counterparty is.

*winners being simply people who win in the long run, so yes taking value.

The rare exception is when someone perhaps gets very lucky and lands a big win out of pure luck that puts their otherwise ordinarily losing betting into the green.

iron_monkey · 5 Apr 2023 at 15:14

Bookies love mug betters who dont even know what an exchange is and take terrible matches. They dont always ban after big wins. When im doing 2ups ive had bets on big outsiders win and im still going £200 at odds of 18 etc. Ive also won £500 on a 10p free spin and i still have that account.
Ive been gubbed by a few bookies after a couple of bets.
Its mostly just luck whether they get you or not

G_Wizz · 5 Apr 2023 at 15:35

The first bookie I signed up to 18 months ago was Ladbrokes, I won £1100 from the £40 casino bonus after the required rollover, was £1500 up at one point. They limited me 18 months later due to a £5 bet on a darts match where they had obviously mispriced the odds, they probably just took a swipe and limited everyone who had placed a bet on the same player. I kew it was down to that because it was about 5 minutes after I placed the bet and they had corrected the odds by then, wouldn't mind but it was only 10% over.

iron_monkey · 5 Apr 2023 at 15:48

When i lost lads i also lost the whole group, all the galas,foxys,coral,sportingbet,bwin,partypoker and partycasino. Accounts closed not even just restricted. That was a bad day

Burton200 · 8 May 2023 at 08:09

Is it worth a newbie like me getting into this now ?

Bassmansam · 8 May 2023 at 09:12

Burton200 said:
Is it worth a newbie like me getting into this now ?

Yep can still make a grand or two. Although the football season is almost over now so maybe worth waiting until August?

iron_monkey · 8 May 2023 at 09:15

I would say it's barely worth doing anymore, when bet365 stop doing 2ups it's over for me.

Burton200 · 8 May 2023 at 11:29

Is odds monkey the best to use

Minibiker · 16 Feb 2024 at 17:32

If I've had betting accounts in the past but closed them, can I open up new ones with the same company? I'm looking to get back into Matched Betting