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

dowie said:
^^^ bear in mind he also spends 30 hours a week and has multiple accounts with family members etc.. so essentially it is like working in a rather boring job

people doing this now have basically missed the boat by over a decade - the time to do this was the early naughties when both bookies and casinos offered generous bonuses, offshore sites were more profitable anyway as they weren't so scared of taking deposits from US Citizens and you didn't need multiple accounts or be sad enough to spend 30 hours a week doing something so boring in order to earn a 5 figure sum, you might as well do a night shift stacking shelves at Tesco for 30 hours a week
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£24k effective (remember it's tax free) for 30hrs a week from home? Versus £10k shelf stacking at Tescos for 30 hours a week? £10k is what you'd get at min wage for 30hrs.

Sure, £24k isn't going to get you far, but it's a great supplemental income for someone who's retired and/or a student.

Plus, I like working with numbers - I don't find it boring at all (I was actually going to retrain as an accountant before I embarked on my current course).

I agree that matched betting was more profitable 10 years ago (I've been doing this for a long time as well), but I don't see how you can say it's not worth doing anymore as that simply isn't the case. Since I took it up again in June, it's paid for my GoPro, gimball, 980ti, a computer for my son, two holidays, new tv and a playhouse for the kids. I wouldn't have any of those if it weren't for matched betting.

KiNgPiN83 said:
Does that include the 3.5k you won on the bingo though?
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No, I've not included that for obvious reasons - I put that down as £200 profit.
 
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amigafan2003 said:
£24k effective (remember it's tax free) for 30hrs a week from home? Versus £10k shelf stacking at Tescos for 30 hours a week (£10k is what you'd get at min wage for 30hrs)? Actually, I'm not doing 30hrs a week anymore - as I've got more efficient and organised, I'm not doing anymore than 20hrs a week now. Sure, £24k isn't going to get you far, but it's a great supplemental income for someone who's retired and/or a student.

Plus, I like working with numbers - I don't find it boring at all (I was actually going to retrain as an accountant before I embarked on my current course).



No, I've not included that for obvious reasons - I put that down as £200 profit.
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Nice that makes it even more impressive. I could do with a win like that. :) In a month I've made around 300 purely on the matched betting. What has hampered me is my starting bank of only 200... However as that's grown its got easier and I've been able to do more offers at once.

I will agree that this isn't the most exciting job in the world but it beats watching TV for me and who wouldn't want an extra couple of hundred quid a month for what is minimal effort?
 
amigafan2003 said:
£24k effective (remember it's tax free) for 30hrs a week from home? Versus £10k shelf stacking at Tescos for 30 hours a week (£10k is what you'd get at min wage for 30hrs)? Actually, I'm not doing 30hrs a week anymore - as I've got more efficient and organised, I'm not doing anymore than 20hrs a week now. Sure, £24k isn't going to get you far, but it's a great supplemental income for someone who's retired and/or a student.

Plus, I like working with numbers - I don't find it boring at all (I was actually going to retrain as an accountant before I embarked on my current course).
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If you find this interesting then you probably should be an accountant ;) it used to be slightly interesting for a bit before there were idiots guides to cover all possible offer types but spending that many hours a week doing it would be mind numbing. I think night shift at Tesco probably pays more than minimum wage, then again I think either is a waste of time for the money... maybe some initial account opening offers which don't take much time are worthwhile but after that, when you're getting to multiple accounts and hours per week doing mug bets, connecting to VPNs, it is a lot of effort doing something rather repetitive for not much reward

anyway I thought I was supposed to be on ignore :p
 
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dowie said:
anyway I thought I was supposed to be on ignore :p
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Nah, I find you strangely interesting so you're back :-)

At the end of the day, it's all different strokes for different folks :-) For example, I couldn't be a project manager, it would bore me to tears (if I have to talk about Prince 2 one more time I'll scream), but others seem to love it and make good money doing it.
 
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Fantastic day tomorrow lads. £75 in free bets alone to be had on the Arsenal game at Laddies and B365.

There's also a little deal on sky Vegas. Deposit £10 and play through it and get a free £10 sports bet. I had 5 £2 spins on reel King and the third spin cracked up with £50. Was worth £57 with my free sports bet.
 
amigafan2003 said:
That's outright gambling - not really what this thread is about. In the long term you'll make less than if you have backed and layed that free bet as per normal matched betting.
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sorry just noticed this and it isn't correct - in the long term you'd make more by not laying, it is just that in the short term your winnings are exposed to much greater variance and can go down as well as up

reason being that you're giving up some expected value through laying at the exchange
 
dowie said:
sorry just noticed this and it isn't correct - in the long term you'd make more by not laying, it is just that in the short term your winnings are exposed to much greater variance and can go down as well as up

reason being that you're giving up some expected value through laying at the exchange
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Sorry, you're wrong.

Bookies always set thier books up so the odds of "something" winning is never the true statistical odds. Just "gambling" the free bets may earn you, over the long term, around £6 to £7 for every £10 free bet, but laying those free bets would see around £8 per £10 free bet. This is because the "book" always has a value that is greater than the exchange commision (lets say 5%). Most bookies books run at arund 25% to 30%.
 
no I'm not wrong, your post is a bit confused

what you're talking about is the vig or overround - that exists whether you're laying or not (the bookie doesn't know if you're laying or not, your odds are the same from them regardless), ordinarily that gives your bet a negative expected value (FYI you're overestimating it too it isn't usually as high as 25%)

the free bet then gives you a positive expected value

if you then chose to lay it to lock in a profit then you're giving up more of that positive expected value as, like you've pointed out, you're paying commission to the exchange too (you may also be crossing the bid/offer spread)

ergo you can lock in profit with your 'risk free' bet but you'll also pay for it - in general this massively reduces variance but technically you are giving up some money long term
 
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dowie said:
^^^ bear in mind he also spends 30 hours a week and has multiple accounts with family members etc.. so essentially it is like working in a rather boring job

people doing this now have basically missed the boat by over a decade - the time to do this was the early naughties when both bookies and casinos offered generous bonuses, offshore sites were more profitable anyway as they weren't so scared of taking deposits from US Citizens and you didn't need multiple accounts or be sad enough to spend 30 hours a week doing something so boring in order to earn a 5 figure sum, you might as well do a night shift stacking shelves at Tesco for 30 hours a week
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I'm not sure that's entirely true tbh.
I spend about 2-3hrs a week in total doing at the moment, and I did 200quid last week. And have averaged 1k+ a month over the last 3months I've been doing.
 
£50 365 and £25 ladbrokes refunds on the Arsenal game should offer me some decent value. Going to give multi accounting a go on these two, I don't bother a lot of the time as I treat the second accounts as back ups in case of gubbing, these offers are just too generous though.

Also trying my first horse racing reloads, actually managed to find a close enough lay for once. I've had to supplement my exchange account with £1k savings to manage it, will all come out tonight though (or in about a week if there is significant swing to the bookies).
 
Imo PA is best for "abit of something on the side" too many variables after sign ups. Made 1.2k in 2 months and had some very good fortune on casino offers. I spend a hour a day looking at what I can do which is nice on top of a full time wage.
 
What exactly is required in order to multi account on bookies? Aside from using a different name, address and IP is there anything else? Do you have to deposit using a payment method that matches the name and address of the account you create?

The only name and address I can use would be my brother's but I doubt he'd want to let me use his paypal account too.
 
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