A few questions about Matched Betting

matedin

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Hi guys,

I'm new here but have been regularly looking at the website over the past month and I'm enjoying all the success stories.

I've got some questions about matched betting. I've been betting normally on a regular basis for the past year but would like to try this matched betting. I'm a little confused about how it would work for me as I already have accounts with most online bookmakers? Obviously won't be entitled to the "Welcome Offers" they give out so where does that leave me?

Every advert or blog i see for matched betting, its always aimed towards people who have yet to open a single betting account. Theres not much info for people out there who already have accounts left, right and centre.

Obviously, the admins on this forum are going to talk up Profit Accumulator as you have banners on the forum. Does anyone have any success stories or share there thoughts on what I can expect in the first 2 weeks to a month?

I tend to bet only on football and certain markets with regular success but i'd like to cut out all of the losses haha.

Any advice on how i'd start would be great.

Cheers,
Matt
 

Jon

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Hey [member=6936]matedin[/member]

Great to have you on here and posting.

In regarding to ongoing offers new reload offers appear everyday near enough for you to do.

I started MBing already having account with skybet / pp / coral etc and it makes not a jot of difference as long term Matched Betting is all about reloads / horse refunds and acca offers ;)
 

matedin

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Hi Jon,

Thanks for the reply. Thats good to know then. Was thinking of starting with £50 and seeing how it goes. Where do you suggest I start then? Everything I see is always "Step 1, Step 2" etc.
 

Jon

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matedin said:
Hi Jon,

Thanks for the reply. Thats good to know then. Was thinking of starting with £50 and seeing how it goes. Where do you suggest I start then? Everything I see is always "Step 1, Step 2" etc.
Yeah I started with £60 and have made around £15,000+ since I first started.

In terms of starting just follow the instructions (and videos) and you will see everything is spoon fed for you and easy for you to do ;)
 

matedin

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I've just had a quick look at the videos and it all seems very straightforward.

Am I right in thinking, in an ideal world it would be good if the bet that wins would alternate between Coral, Ladbrokes etc and Betfair Exchange to keep the transfer of money between accounts down? If I had loss after loss of the Exchange, that money would be basically moving over to the betting account and then i'd just transfer some back to the Exchange from there?

Also, whats stopping me from placing bets of £200 a the start to increase profit? I'm already comfortable with betting websites, odds etc.

Cheers,
Matt

Edit - Just caught on that the liability will go sky high should my back bet be £200.
 

Jon

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Haha yeah liability

And I can't remember ever seeing an offer that involved doing a £200 bet!
 

matedin

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Sorry, i'm thinking too quickly without thinking. You pretty much only used matched betting with offers. Pretty pointless to do it with "normal bets".
 

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katykicker

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Good luck to you! I started with £100 and made £15,000 in the first 4 months or so.
 

matedin

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Thanks. Placed my first one today. Taking it slow to begin with just to get my kitty up.

Is it best to have the bulk of your money in the Exchange account and bits and bobs in the betting account?

I'll keep you updated with my progress.
 

Stims

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Jon said:
Haha yeah liability

And I can't remember ever seeing an offer that involved doing a £200 bet!
I've done a few mate :p

I think the highest i have done is £400. Not necessary though just meant i cleared the rollover rapidly.

The sign up offers are worth about 1k give or take and there's probably still plenty you are yet to open. I made just shy of 10k in a year and already had accounts with a few, so that shows you where most of the money comes. The sign ups are just the easy start.

The best piece of advice i can give for a beginner is to let your bank grow. The more you have the more you make.

If you have any questions feel free to ask in the forum or PM me and i'll do my best.
 

matedin

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Thanks for your input Stims. Thats good to hear. In terms of bank accounts, i've read its best to open a new one. What i'd prefer to do is to add my current bank account (which doesn't get used much) to the betting account but also link my PayPal account and withdraw into that simply because the processing time is quicker.
 

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The only issue I think you may have is bookies sometimes like the same method to be used so if you deposit with a debit card you can only withdraw with a debit card
 

askgar

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Jon said:
The only issue I think you may have is bookies sometimes like the same method to be used so if you deposit with a debit card you can only withdraw with a debit card
In almost all cases a bookie will insist on returning the amount that was deposited from a method, to the original method, before you can withdraw somewhere else.

E.g.
Deposit £100 card X
Deposit £200 card Y
If you wanted to withdraw £400 it would be £100 to card X, £200 to card Y, then £100 to either card.

The reason they do this is for money laundering purposes, if I had a stolen credit card I could deposit £500 to a bookie account, then withdraw £500 to a different card/payment method.

Usually if you get a new card for your current account, you will have to contact the bookie/exchange to get them to remove the limit on the old card so that it goes to the correct place.
 

matedin

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I asked on the online chat today at Coral and they confirmed this. I basically deposited £10 for their opening offer so I have to withdraw at least £10 back to that bank card before I can start using PayPal.

Just a little update for anyone who is thinking of starting. I've made just over £36 in the two days. Got my free £30 bet on tonight with Betfred where it'll return £17 I think it was, maybe a bit more.

I've also received an email from Coral with a 2nd Deposit bonus. Depoist £10 and get £10 for the slots. However, it says i need to turn it over 10 times before wagering. Whats the best way to use this?

Cheers,
Matt
 

Jon

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matedin said:
I asked on the online chat today at Coral and they confirmed this. I basically deposited £10 for their opening offer so I have to withdraw at least £10 back to that bank card before I can start using PayPal.

Just a little update for anyone who is thinking of starting. I've made just over £36 in the two days. Got my free £30 bet on tonight with Betfred where it'll return £17 I think it was, maybe a bit more.

I've also received an email from Coral with a 2nd Deposit bonus. Depoist £10 and get £10 for the slots. However, it says i need to turn it over 10 times before wagering. Whats the best way to use this?

Cheers,
Matt
Basically choose a slot and do 25p spins and hope the bonus lasts long enough for you to wager it through 10x

it if does you can withdraw, if it doesn't you can't
 

Jon

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matedin said:
What about the initial £10? :-\
if it just says deposit £10 to get the free spins you should be able to withdraw the initial £10 fine in theory.
 

matedin

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Ive deposited, received the free £10 and its allowing me to withdraw unless it comes back and says they were unable to complete the withdrawal. I usually use bet365 which gives you the exact amount you can withdraw
 

matedin

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In fact, i've just seen this -

"Playable on all products and withdrawable - £20" ???
 

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