Just placed my first Matched Bet - Am I doing this right?

[nazboy]

Hi all,

Cool forum you've got here. I've been lurking for a bit, watching a few videos and reading a few articles. I decided to take the plunge today and sign up to Betfred and Betfair. Can you guys tell me if I've done this right?

I took the offer to get £30 free bets with Betfred and £30 worth of free bets on Betfair, both of which you had to deposit and bet a minimum of £10.

I found some fairly close odds on a football match and placed a £10 stake on Betfred for one team, and a £10 Lay on Betfair for the same team.

I had to deposit £13.80 to Betfair to compensate for the Liability. (I still don't quite understand this).

I used the calculator on Profitaccumulator.co.uk to see that the potential loss was 83p.

Below is how my bets look on the site:





Can somebody please tell me if I did this right?

The match is underway as we speak... exciting!

 

[Jon]

Yup all looks good!

83p is a great qualifying loss!

 

[Jon]

Hi BTW @nazboy

Great to have you on here and posting!!!

 

[nazboy]

Thanks for the warm welcome Jon, and thanks for the confirmation that I am going about this right. Phew! I am seriously considering taking this up as my primary money-making method if all goes well.

The game which I bet on has now finished. It ended; PSV Eindhoven 1 - 0 Ajax. Sadly that means I lost my liability amount with Betfair (£13.80), but of course cashed in on the win with Betfred to the tune of £22.50. So that's my Stake and Lay back plus £2.50. So £3.80 lost from the liability, minus £2.50 which equals an overall loss of £1.30.

The loss was greater than the previously mentioned 83p because I made the mistake of putting down a tenner on Betfair, when I should have been copying the lay amount given by the Profitaccumulator calculator (beginner mistake). If I had copied that lay stake which was presented in the calc then it would have been 83p.

So the final result of all this is that I paid £1.30 to bag £60 worth of free bets. I've just got to wait and hope that those free bets appear in my accounts now, as they are not showing just yet.

 

[Jon]

Thanks for the warm welcome Jon, and thanks for the confirmation that I am going about this right. Phew! I am seriously considering taking this up as my primary money-making method if all goes well.

The game which I bet on has now finished. It ended; PSV Eindhoven 1 - 0 Ajax. Sadly that means I lost my liability amount with Betfair (£13.80), but of course cashed in on the win with Betfred to the tune of £22.50. So that's my Stake and Lay back plus £2.50. So £3.80 lost from the liability, minus £2.50 which equals an overall loss of £1.30. I'm not a genius at maths, but I think that's correct?

So the final result of all this is that I paid £1.30 to bag £60 worth of free bets. I've just got to wait and hope that those free bets appear in my accounts now, as they are not showing just yet.

Are those free bets on betfair not on the SPORTSBOOK side though instead of the Exchange side which is the one we use for Matched Betting?

If they are on the SPORTSBOOK side you will need to use another exchange like Smarkets to lay them off as you can't both back and lay at Betfair.

 

[nazboy]

Just discovered that! Haha, been chatting to the agent on Betfair to find out how long it would take to get my vouchers, she said I placed the bet on EXCHANGE when it needs to be on SPORTSBOOK to qualify. Oh well I still only lost £1.30 for the £30 worth of vouchers on Betfred. I will just have to do as you say then, place a stake on SPORTSBOOK and lay it off on Smarkets. Is that correct Jon?

 

[Jon]

Yeah that's correct but I would just hold out on using those Betfair free bets for now until you are a paid up member of profit accumulator as they will guide you through the best way to take advantage of them as get the most value from them

 

[nazboy]

Cool, yeh thanks Jon. I'm considering joining up with them for a month.

Hmm, I've just been on Smarkets and I'm having trouble connecting to their servers at the moment for some reason.

 

[Jon]

Cool, yeh thanks Jon. I'm considering joining up with them for a month. I've got a few quid saved on Prolific Academic which I might use to fit the bill.

Hmm, I've just been on Smarkets and I'm having trouble connecting to their servers at the moment for some reason.

Yeah like I said don't worry about the smarkets stuff for the moment

Also don't worry about the cost of PA as it's irrelevant compared to how much money you will make each month from Matched Betting

 

[nazboy]

Sounds good, cheers. I might just do that. Do you know any other good alternatives to Betfair for placing lay bets?

 

[Jon]

Sounds good, cheers. I might just do that. Do you know any other good alternatives to Betfair for placing lay bets?

Smarkets is the main alternative to use due to the lower commission

 

[nazboy]

Ok thanks Jon. I just decided to join BETDAQ as I couldn't connect to the Smarkets servers. BETDAQ had an offer of £25 worth free bets for £10 Lay. It's 5% commision. I've got the following odds on Barcelona vs Real Madrid for tonight:

Betfair
Real Madrid to win
Odds: 1.95
Total Stake: £10.00
Potential Return: £19.50

BetDaq
Real Madrid to lose
Odds: 2.06
Total Lay: £10.00
Liability: £10.60
Potential Return: £20.60

Let's see how it goes.

 

[nazboy]

Result: Real Madrid Lost
Winnings: £20.60
Minus 50p comission, so that makes my return on this bet: £20:10

That's covers my deposits and I'm 10p to the good. I now have my £30 bets unlocked on Betfair, £25 unlocked on BetDaq, and my £30 gained earlier on Betfred. So £85 worth of free bets and I've only lost £1.20 over all. not a bad days work!

I think I'm ready for the advice of the guys over at Profitaccumulator now

 

[Jon]

Result: Real Madrid Lost
Winnings: £20.60
Minus 50p comission, so that makes my return on this bet: £20:10

That's covers my deposits and I'm 10p to the good. I now have my £30 bets unlocked on Betfair, £25 unlocked on BetDaq, and my £30 gained earlier on Betfred. So £85 worth of free bets and I've only lost £1.20 over all. not a bad days work!

I think I'm ready for the advice of the guys over at Profitaccumulator now

Great stuff - you should be able to make around £50-£60 risk free from £85 worth of free bets

Just remember to set te calculator to SNR when you use them and also alter the commission from 5% if you decide not to use betfair exchange to lay them

 

[nazboy]

Thanks again for the tips Jon. Those potential profits are music to my ears I just found out about that SNR thing while watching some video tutorials over at Profitaccumulator.co.uk

I am thinking about a month's sub over there. Do you have a referral link you would like me to use?

Oh also, just in case anyone else reads this thread you should be aware that BetDaq have a sneaky clause in the small-print of the terms and conditions, it states that they only pay out £25 free bets when you have accumulated £100 worth of winnings! Pretty bummed at that discovery

 

[Jon]

Brilliant tips, thanks again Jon. I just found out about that SNR thing while watching some video tutorials over at Profitaccumulator.co.uk

I am thinking about a month's sub over there. Do you have a referral link you would like me to use?

Yeah you ALWAYS do free bets as SNR @nazboy

Just click the banner above for Matched Betting and then join up to PA and all should be OK

 

[nazboy]

Thank you Sir! I will see how I get on and update with my progress. All the best to you

 

[Jon]

Thank you Sir! I will see how I get on and update with my progress. All the best to you

No worries, glad you are on the Matched Betting gravy train

 

[nazboy]

Hi folks, I'm still working at this and it's bearing fruit. Here is a quick update on my progress from the beginning:

23rd April 2017 - PSV v Ajax [BetFred Qualifying Bet]
Stake (PSV): £10 @ 2.28 odds
Lay (PSV) Betfair: £9.66 @ 2.38 odds
Liability: £13.33
Pot: -83p

25th April 2017 - Granada v Malaga [Betfred Tokens used]
Stake (Granada): £30 @ 4.00 odds
Lay (Granada) Betfair: £22.22 @ 4.10 odds
Liability: £68.89
Pot: +£21.11p

23rd April 2017 - Real Madrid v Barcelona [Qualifying Bet Betfair]
Stake (Madrid): £10 @ 1.95 odds
Lay (Madrid) BETDAQ: £9.70 @ 2.06 odds
Liability: £10.28
Pot: -78p

27th April 2017 - Man City vs Man Utd [Betfair Tokens used]
Stake (Man Utd): £30 @ 4.6 odds
Lay (Man Utd) BETDAQ: £22.09 @ 4.91 odds
Liability: £86.36
Pot: +£21.73

24th April 2017 - Moreirense v Chaves [Qualifying Bet Coral]
Stake (Moreirense): £10 @ 2.15
Lay (Moreirense) Betfair: £9.64 @ 2.28
Liability: £12.34
Pot: -84p

26th April 2017 - Arsenal v Leicester [Coral Tokens used]
Stake (Leicester): £20 @ 6.00 odds
Lay (Leicester) Betfair: £15.75 @ 6.40 odds
Liability: £85.04
Pot: +£14.96

26th April 2017 - Deportivo v Real Madrid [Qualifying Bet Smarkets]
Stake (Real Madrid): £10 @ 1.41 odds
Lay (Real Madrid) BETDAQ: £10.29 @ 1.42 odds
Liability: £4.32
Pot: -22p

28th April 2017 - Vitoria Setubal v Vitoria Guimaraes [Qualifying Bet StanJames]
Stake (Vitoria Setubal): £10.00 @ 2.25 odds
Lay (Vitoria Setubal) Smarkets: £10.23 @ 2.22 odds
Liability: £12.48
Pot: +02p (With these odds there wasn't even a loss on the Qualifying bet!)

29th April 2017 - Fulham v Brentford [Qualifying Bet Labrokes]
Stake (Brentford): £10.00 @ 7.00 odds
Lay (Brentford) Smarkets: £10.64 @ 6.6 odds
Liability: £59.57
Pot: +43p (This match will be played Saturday making a profit on Qualifier!)

27th April 2017 - Man City v Man Utd [Skybet Tokens used - No qualifying bet required]
Stake (Man Utd): £10.00 @ 4.20 odds
Lay (Man Utd) Smarkets: £6.84 @ 4.70 odds
Liability: £25.31
Pot: +£6.70

27th April 2017 - 19.05 at Punchestown [Qualifying Bet William Hill]
Stake (Asthuria Win): £10.00 @ 3.00 odds
Lay (Asthuria Lose) BETDAQ: £9.38 @ 3.25 odds
Liability: £21.11
Pot: -£1.11

27th April 2017 - Man City v Man Utd [Paddy Power Qualifying]
Stake (Man City): £10.00 @ 1.85 odds
Lay (Man City) Betfair: £6.84 @ 1.93 odds
Liability: £9.15
Pot: -£0.65

Bets: x 12
Profits: £64.95
Losses: £4.43

=£60.43 Total cash
£20 Stan James Vouchers to spend
£50 Ladbrokes Vouchers to spend
£30 Paddy Power vouchers to spend
£30 William Hill vouchers to spend
£10 off my first loss with smarkets still unused

Not bad for my first 4 days huh?

I have signed up with Profitaccumulator today so I'm pretty excited what the future holds!

 

[Jon]

All looking good!!

It's very easy money isn't it!