Matched Betting Discussion [OT] Discussion about Matched Betting II {Beginners Guide in 1st Post}

Hollyhock64

Money Making Megastar!
Joined
Aug 6, 2016
Messages
179
Points
148
Location
Grantham
homie said:
The Snooker offer is a risk free bet, so you need to underlay (SNR does this). Otherwise, if you laid the full amount and the bet won you won't benefit from the risk free element.

If you underlaid all your bets, as in your question, if they lost you would have a much larger qualifying loss as there is no free bet on offer to make up the loss.

Maybe an example will help explain.

Offer - place a bet on Johnny Briggs to win - if it loses get a free bet to the value of your initial stake. (this is the same as the coral offer)

So, Bet £10 on Johnny Briggs at 5.0 to win, lay £7.72 at 5.2

As you can see we have laid less than the value of our bet. This means if little Johnny does go on to win we will pocket a profit of £7.58, thanks to the underlay, but we don't qualify for the free bet. If he loses, then we will only get our lay minus commission back (£7.56) which would normally be a loss, but thanks to the risk free offer we have a £10 free bet credited to the account which will bring us back into profit once used.

When offers aren't connected to the bet losing then there is no need to underlay and doing so risks losing money if the bet doesn't win, much more so if the odds are wide.

Compare this to the Bet365 4/1 horses offer which rewards a free bet if it wins, rather than loses. If we underlaid this offer we would always lose out if the bet loses. In fact, we should overlay this one to cover commission as the extra money we pay from the exchange will be covered by the free bet.

So it depends on the nature of the offer

Not sure how well I explained that

Thanks for that. Just when I think I understand it I find that I actually don't understand it at all. What does underlaying mean? I thought you put it under your carpet!
 

homie

One of the finest Matched Betting helpers around!
Joined
Oct 16, 2016
Messages
2,389
Points
283
Underlay - Laying less than the value of your stake. Eg. Stake £10 Lay off £8 You would do this because:

You are using a free bet and want to guarantee the same profit win or lose.
or
You are taking part in a risk free bet offer like the one in the snooker example.
or
You are pretty sure the bet will win, or need to reduce your liability, so underlaying will give reduce the amount you have to pay out from the exchange.

Overlay is the opposite, laying more than the value of your stake.

You are probably doing it all the time without realising it and if you're following profit accumulator you dont need to worry about it anyway. Just plug in the numbers it tells you.
 
  • Like
Reactions: Hollyhock64

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
Did Betfairs '£20 bonus for £30' arcade offer with 20x wagering!!!

and I bloody managed to carry it through!

g75VHQP.png


Ended up withdrawing £150 from the initial £30 investment

Used TED slot doing 60p spins
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
I'm all over that Ladbrokes offer tomorrow. Done it quite a few times now and tend to make around £50 in free bets from it ;)
 

katykicker

I am a work from home Mum from Essex.
Staff member
Joined
Nov 14, 2014
Messages
6,705
Points
373
Location
Harlow
Website
katykicker.com
Nice little weekend, only got 30 minutes to spare really each day, as going on holiday, but love matched betting for a boost of cash.
 

matedin

Member
Joined
Apr 17, 2017
Messages
12
Points
23
I'm only a few new account into my matched betting experience but i've just discovered Paddy Powers Guaranteed Price Promise....the good way. Had a £30 free bet with them so chose to put it on Tuscon Gold at 15.35. Odds were 3.75, laid it at 4.6. However, Tuscon Golds odds rose to 6.0 and it went on to win the race. £180 in my PP account now but obviously the exchange account is down. Going to move the majority over to the exchange though.

Is this price guarantee from PP something to try and take advantage of?
 
  • Like
Reactions: dcuddy1

sillymoo

Active Member
Joined
Jan 10, 2017
Messages
50
Points
28
Location
Scotland
I've won some money with the SkyVegas free £5 offer and can see the balance in SkyVegas but it's not showing in SkyBet. Is this normal? Do I need to withdraw from SkyVegas and put into SkyBet to be able to place bets?
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
I've won some money with the SkyVegas free £5 offer and can see the balance in SkyVegas but it's not showing in SkyBet. Is this normal? Do I need to withdraw from SkyVegas and put into SkyBet to be able to place bets?

You should be able to just withdraw from sky vegas unless it needs you to do more wagering before you can withdraw it
 

sillymoo

Active Member
Joined
Jan 10, 2017
Messages
50
Points
28
Location
Scotland
You should be able to just withdraw from sky vegas unless it needs you to do more wagering before you can withdraw it

Yes, I can withdraw it from SkyVegas but I was wondering if the balance should also appear in SkyBet. The login for both is the same so I'm assuming these two are connected but I cannot see how to transfer money from Vegas to Bet easily. So I'm just checking if I need to go through the hassle of actually withdrawing the money from Vegas to my bank account and then depositing with SkyBet.
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
If it's just a casino offer I would just withdraw from sky vegas and be done with it :)
 

sillymoo

Active Member
Joined
Jan 10, 2017
Messages
50
Points
28
Location
Scotland
I think I'll do that then. I've run out of cash in the bank (in my "betting account") so was hoping to use that money to place a bet today without having to wait a few days for withdrawal. Time to look into e-wallets it seems.
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
I think I'll do that then. I've run out of cash in the bank (in my "betting account") so was hoping to use that money to place a bet today without having to wait a few days for withdrawal. Time to look into e-wallets it seems.

From what I've seen they seem like more trouble than they are worth
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
Got a £5 casino bonus off Betfair Casino last night and managed to take it as high as £117 during wagering and finished with £63 to withdraw.

Not bad for about 20mins spinning on Batman vs Mr Freeze slot!
 

matedin

Member
Joined
Apr 17, 2017
Messages
12
Points
23
Got a £5 casino bonus off Betfair Casino last night and managed to take it as high as £117 during wagering and finished with £63 to withdraw.

Not bad for about 20mins spinning on Batman vs Mr Freeze slot!

How do you manager this? I've had a few casino bonus' already but have only come away with a few pennies. Is it down to luck?
 

Leeceford

Money Making Megastar!
Joined
Oct 18, 2016
Messages
669
Points
153
Oooh it looks all different here :) Been away for the weekend and not been able to do any MB...my poor monthly total is looking bleak. Need to find some good offers for the last few days.
 
  • Like
Reactions: Jon

fynsgran

Money Making Megastar!
Joined
Jun 27, 2015
Messages
57
Points
126
Which of the Acca methods do you find most profitable? Been doing lay at start but interested to see what others do.
 

Jon

Money Making Megastar!
Joined
Oct 17, 2013
Messages
32,378
Points
283
Age
42
Location
Leeds
Which of the Acca methods do you find most profitable? Been doing lay at start but interested to see what others do.

I do normal and lockin. usually 4 or so normals to 1 lockin ;)
 

Members online

No members online now.

Amazon Discount Finder Tool

Find hidden 80%+ savings on Amazon products



 

 

 

 

 

 

 

Forum statistics

Threads
7,380
Messages
199,739
Members
11,387
Latest member
jbniche1