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

[BrownAndCony]

So what is the risk of going for horse racing? Is it more likely to get gubbed or something?

I would also like to know what happens if a race/game you bet on is cancelled? Do your bets get refunded?

 

[Jon]

So what is the risk of going for horse racing? Is it more likely to get gubbed or something?

I would also like to know what happens if a race/game you bet on is cancelled? Do your bets get refunded?

horse racing is only risky when you first get started because the odds can move quite fast if your race is soon

IF a race or event gets cancelled then yes all bets are refunded

 

[BrownAndCony]

Yeah that's true - football games would be less likely to change quickly?

 

[katbythesea]

Each Way betting - Can someone just confirm I'm doing this right!

Bookie Odds 7 - Exchange Odds 7.5

£5 each way at odds of 7
So bet normally at bookies and tick the e/w box so total stake £10

In calculator
Back Stake £5
Back Odds 7
Exchange Odds 7.5

Place this on the Win section in exchange

In calculator
Back Stake £5
Back Odds 2.5
Exchange Odds 2.6(eg)
Place this on the Place section in the exchange

 

[katykicker]

[member=1]Jon[/member] or [member=143]auntygeek[/member] are good with this sort of thing I think!

 

[auntygeek]

Depends what the EW odds are at bookie - if those odds are right then that sounds good

 

[katbythesea]

Depends what the EW odds are at bookie - if those odds are right then that sounds good

Thank you! For some reason really struggled to get my head round this.....!

Now just need to work out how to put it in Ultimatcher.

 

[Pbrail]

So what is the risk of going for horse racing? Is it more likely to get gubbed or something?

I would also like to know what happens if a race/game you bet on is cancelled? Do your bets get refunded?

As [member=1]Jon[/member] said, the risk with betting on the nags is the fact that the Odds are MUCH more volatile, and can move very quickly in either direction. This results in a potential risk of Odds changing between you placing your Back and Lay, the other risk is that there is a potential of this moving in your favour, especially if they have a Best Odds Guarantee offer too - sometimes to a significant degree - and Bookies don't like people who take too much value from them, especially if you are a brand new customer. Hence a higher risk of getting gubbed early on.

Get comfy with the fundamentals of MB first, and in the meantime try and familiarise yourself with the horse markets and how (and when) they are most volatile. Then start to build a slow profile for the horses - starting on the BIG, high profile races first which are also 'mug magnets' (for example, Ascot is this week) and then work up from there.

 

[BrownAndCony]

Great, thanks so much for your advice [member=1315]Pbrail[/member] - agreed, it's best if I work slowly and familiarise myself with how things work. Still very new to all of this!

 

[sushifer]

Chiming in with more eager newbie questions...

Am I correct in saying that you don't need to mug at betting exchanges? As they make money from commission I was under the impression that they're not bothered why or how you're betting.

Also, regarding gubbing- how cautious do you need to be in terms of using the same username/email? I'm currently using the same email for exchanges and bookies, but (mostly) different usernames, at the moment (and not the same username/email as on matched betting related sites). I've seen people advocating some very strenuous methods to avoid gubbing, like never following the links on matched betting sites to bookies, and having different internet browsers open to keep exchanges/bookies/MB sites separate, but am not sure how much of it's paranoia, rather than things bookies would actually catch you out with!

 

[Flexit]

Anyone set up a Skrill Account recently?
I was thinking of using it for moving money around a bit faster but it is proving a bit of a pain. I registered ok then linked my debit card then I could not get it verified. I put in a help ticket to ask them to sort it. I got a reply two days later saying to verify air needed to upload a pic of my ID front and back of Driving Licence. So I go to do that and instead of being able to reply on the same help ticket they close it as resolved. I then create a new help ticket and upload my Driving License as required since then nothing and four days with no reply.
I have read reviews where people have waited weeks before getting verified and being able to use their account.
Seems like they are extremely slow so think maybe not worth it?
Anyone here using Skrill for Matched Betting?

I read a blog post by a trader that said Skrill is one of the thing that flags you as doing MB. But obviously there are people on PA who use it without issue. I also read the big thread on PA where a number of people were getting money stolen from their skrill accounts. Don't know if that's still an issue.

 

[Pbrail]

Chiming in with more eager newbie questions...

Am I correct in saying that you don't need to mug at betting exchanges? As they make money from commission I was under the impression that they're not bothered why or how you're betting.

Also, regarding gubbing- how cautious do you need to be in terms of using the same username/email? I'm currently using the same email for exchanges and bookies, but (mostly) different usernames, at the moment (and not the same username/email as on matched betting related sites). I've seen people advocating some very strenuous methods to avoid gubbing, like never following the links on matched betting sites to bookies, and having different internet browsers open to keep exchanges/bookies/MB sites separate, but am not sure how much of it's paranoia, rather than things bookies would actually catch you out with!

I have different User Names (and passwords), between each bookmaker though they aren't mindblowingly different from each other - there's no logic to having different User Names to avoid gubbings as the Bookies all have your REAL name and address, so different User Names are a moot point.

I only do it because of account security, just as I do with my Bank Accounts, because obviously there are real money transactions going on and if somehow one account got compromised, it would be an absolute disaster if that same UN/Password opened up all my other accounts - bye bye £££!!

My PA User Name however, is radically different from all my bookies accounts - never know who's lurking in there

 

[Jon]

Chiming in with more eager newbie questions...

Am I correct in saying that you don't need to mug at betting exchanges? As they make money from commission I was under the impression that they're not bothered why or how you're betting.

Also, regarding gubbing- how cautious do you need to be in terms of using the same username/email? I'm currently using the same email for exchanges and bookies, but (mostly) different usernames, at the moment (and not the same username/email as on matched betting related sites). I've seen people advocating some very strenuous methods to avoid gubbing, like never following the links on matched betting sites to bookies, and having different internet browsers open to keep exchanges/bookies/MB sites separate, but am not sure how much of it's paranoia, rather than things bookies would actually catch you out with!

correct you don't need to mug the exchanges, they will never gub you

it's paranoia, you can use whatever username/password you can

MBer prob make up about 2% of punters for a bookie!

 

[Uhhhhh]

So what is the risk of going for horse racing? Is it more likely to get gubbed or something?

I would also like to know what happens if a race/game you bet on is cancelled? Do your bets get refunded?

[member=4011]BrownAndCony[/member] A few reasons. If you're familiar with horse racing then I'd say to for it, but the odds move more quickly and are more volatile especially nearer to the start of the race. If you hammer them too much at high odds when your account is new then your stakes are more likely to be restricted (some bookies are better than others). Plus with higher odds you need more liability in your exchange so unless you have a good bank roll then it's difficult to cover horses at anything above 5/6ish (depending on how much you stake, of course). Linked to that is also the fact that if you make a lay mistake then you're risking much bigger liability amounts - if you mess up a football lay then maybe you lose £20 or £40, but if you make a mistake on a horse with high odds then maybe you lose £100s and wipe your bank out. Also, if a race has a certain amount of runners and some are withdrawn before the race then a deduction can be made on the winnings (rule 4) so you could end up losing money. Exchange markets are also more changeable with the horses - there may not be enough money in the market to cover your whole lay amount and that's how you end up with unmatched or partially matched bet (which are no problemo if you know how to correct them, but can lose you money if you don't). Also, doing a qualifier on low odds football and then using a free bet on a silly high odds horse is a huge red flashing 'Matched Bettor here!' sign - so don't do that.

TLDR - with horse racing, if you know your shit then you'll be fine, if not then you could make some costly mistakes.

 

[RickyRaj]

Unlucky with the first race at Ascot, none of my 4 horses generated a refund. Oh well!

 

[Blackpepper1]

Anyone set up a Skrill Account recently?
I was thinking of using it for moving money around a bit faster but it is proving a bit of a pain. I registered ok then linked my debit card then I could not get it verified. I put in a help ticket to ask them to sort it. I got a reply two days later saying to verify air needed to upload a pic of my ID front and back of Driving Licence. So I go to do that and instead of being able to reply on the same help ticket they close it as resolved. I then create a new help ticket and upload my Driving License as required since then nothing and four days with no reply.
I have read reviews where people have waited weeks before getting verified and being able to use their account.
Seems like they are extremely slow so think maybe not worth it?
Anyone here using Skrill for Matched Betting?

I read a blog post by a trader that said Skrill is one of the thing that flags you as doing MB. But obviously there are people on PA who use it without issue. I also read the big thread on PA where a number of people were getting money stolen from their skrill accounts. Don't know if that's still an issue.

Thanks for that. Will definitely avoid Skrill then. Just closed the account this morning and sent an e-mail via their Contact System asking for them to remove all my personal details from their system and also to refund the £1.69 they took which was supposed to be to verify my card but then they asked for ID anyway so that was a waste of time. Whether they will respond is doubtful given I never had a response confirming my ID was acceptable. Not too worried about the £1.69 but hopefully it will be refunded eventually!
Anyway added my email and MB bank/card info onto PayPal so can use that for MB where the bookies allow it. Done in 2 mins!
Hassle and taking forever getting a Skrill Account set up so not worth it.
Skrill is extremely dire and obviously don't want to have customers spending money with them. [emoji848]

 

[Falanouc]

Right I've got a free £5 bet for tomorrow. I'm already £9+ in profit from the offer. Is it worth risking betting on one of the Euro winners tomorrow and not laying it or shall I just go for another £3+ profit?

And erm, if I should bet, which team is more likely to win? :

 

[katbythesea]

Right I've got a free £5 bet for tomorrow. I'm already £9+ in profit from the offer. Is it worth risking betting on one of the Euro winners tomorrow and not laying it or shall I just go for another £3+ profit?

And erm, if I should bet, which team is more likely to win? :

If it was me I would go for the £3 profit (every little helps!)
As for which team - whenever I've asked those kind of questions always been told it doesn't matter just go for whichever gives you the best qualifying loss or profit if it's a free bet!

 

[Pbrail]

Right I've got a free £5 bet for tomorrow. I'm already £9+ in profit from the offer. Is it worth risking betting on one of the Euro winners tomorrow and not laying it or shall I just go for another £3+ profit?

And erm, if I should bet, which team is more likely to win? :

I think that depends on your liquidity really. If you're still building your bankroll I would lock in the profit - yes, you could get a bit more if you just bet on a Favourite and didn't Lay it BUT, Favourites are usually super-short priced so you're not going to get a huge amount back even if it comes in unless you do a Double or Treble, plus, Favourites are anything but certain.

Just look at the Germany game last night that ended in a goal-less draw. They were about 1.5 to win, so a £5 FB on that would have given you a mighty £2.50...

 

[Falanouc]

Good point. I'll be safe and lay.

Managed to get 5 free spins from PPs Beat The Keeper. Won a whole 7p!