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

sianib

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Well your £350 float would only be there for a week, then it would be £380, then £400, then £450 etc so the more you grow your pot the more offers you can do.
Right. Thank you. I'm getting a bank refund this week so will invest it into this. I really hate being skint, I need to start being clever.
 

Jon

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Right. Thank you. I'm getting a bank refund this week so will invest it into this. I really hate being skint, I need to start being clever.
You've been a member here since March 2015! With everything on this site you should be loaded ;)
 
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Billybx

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Can I ask about the exit strategy

I’m just starting off with a pot of 200

Iv done the first coral offer and I intend to get the betfred one on tonight.

I was thinking though in theory if both my bets win at the bookies it means my Betfair will need reloading to a degree

Obviously I’m well aware about being gubbed by taking money out of bookies accounts

So how best to get winnings / funds from the winning bookies accounts to my Betfair

Or is it ok after one bet to take all or most out after just one win

Thanks in advance
 

Jon

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Can I ask about the exit strategy

I’m just starting off with a pot of 200

Iv done the first coral offer and I intend to get the betfred one on tonight.

I was thinking though in theory if both my bets win at the bookies it means my Betfair will need reloading to a degree

Obviously I’m well aware about being gubbed by taking money out of bookies accounts

So how best to get winnings / funds from the winning bookies accounts to my Betfair

Or is it ok after one bet to take all or most out after just one win

Thanks in advance
Just withdraw your money from the bookie accounts if that’s where your money ends up, it’s fine
 
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Jon

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Cheers jon Thankyou
No worries. Ideally in the early days you want your bets to win into the exchange anyway so you don't have to keep waiting for your money to come out of the bookies and back to your bank account again before pushing on with the next offer
 
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Jon

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Last day of ascot! Dumping around £1800 on horse refunds

Eeeeeeeeeeeeeeeeeeee
 
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ted

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Nothing in the way of refunds again. One of the bigger bookies I think actually took pity on me and gave me a sportsbook bonus haha.

Did one of the harder sign ups I've done before today. Happy with the results.

Had a few punts on Blue Point today. Had a few on Detorri but was not to be!
 
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Jon

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The way the women's England football team are going I would hope Bet365 might pull an offer out of the bag!!!
 
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Billybx

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Ok coral offer done

Smarkets one in the process of being done

And Iv just put in and waiting for the betfred one

I have a question

Done my qualifier bet so just done the 30 free bet

Followed the video to the letter where I noticed the same thing

In the video he selects Stake not returned as I now know that’s what u do.

He did his workings with the odds and what he needs to lay

Now here’s the thing

When on betfred he puts his bet on the winnings say 195... but when he changes it to use the 30 quid free bet it takes it down to 165.... which is bang (bar a quid or two) on what his stake plus liability is with Betfair

So if it’s stake no returned , if the bookie (betfred) wins how does he make profit ?

This happens when I did mine ?

The way I read it is if the exchange wins I’m making 22 odd quid like in the example but if the bookie wins I don’t make anything / a small loss

I’m hoping Iv got it wrapped round My arse


Can anyone explain it to me

Sorry to be a thicky
 

Karonher

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Are you saying that when he put the bet in the betting slip it showed £195 profit then went down to £165 when he selected the free bet? If so that is because the £30 will not be returned when it is a free bet although it would be if it was your own money.
 
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geebobuk

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Ok coral offer done

Smarkets one in the process of being done

And Iv just put in and waiting for the betfred one

I have a question

Done my qualifier bet so just done the 30 free bet

Followed the video to the letter where I noticed the same thing

In the video he selects Stake not returned as I now know that’s what u do.

He did his workings with the odds and what he needs to lay

Now here’s the thing

When on betfred he puts his bet on the winnings say 195... but when he changes it to use the 30 quid free bet it takes it down to 165.... which is bang (bar a quid or two) on what his stake plus liability is with Betfair

So if it’s stake no returned , if the bookie (betfred) wins how does he make profit ?

This happens when I did mine ?

The way I read it is if the exchange wins I’m making 22 odd quid like in the example but if the bookie wins I don’t make anything / a small loss

I’m hoping Iv got it wrapped round My arse


Can anyone explain it to me

Sorry to be a thicky

I don't know whether your free bet has settled yet but based on what you have said about the example above this is my take on it.....the back odds are 6.5. for a £30 bet this would return £195 (6.5 x £30) if you were using your own stake. If using a free bet - you take 1 off the back odds (in effect your stake) so effectively the odds are now 5.5, for a £30 Free Bet this returns £165 (5.5 x £30).

You mention that the example results in a profit of £22+ at the exchange if the lay bet wins. If the lay odds are for arguments sake 7.2 (based on 2% commission with the exchange) you would lay £22.98 (I used the odds calculator in stake not returned mode to arrive at this figure).

Going back to your question about how you make a profit if the back bet wins with the bookie, as your lay stake is only £22.98 your liability at the exchange is less than the profit you make from the free bet because you also subtract 1 from the lay odds making your exchange liability 6.2 multiplied by £22.98 which comes to £142.48.

£165 - £142.48 = £ 22.52 profit if you win at the bookies OR no stake lost at the bookies + £22.98 (£22.52 after commission) profit at the exchange if the lay bet wins.

Hope this is of some help.
 
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Billybx

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I don't know whether your free bet has settled yet but based on what you have said about the example above this is my take on it.....the back odds are 6.5. for a £30 bet this would return £195 (6.5 x £30) if you were using your own stake. If using a free bet - you take 1 off the back odds (in effect your stake) so effectively the odds are now 5.5, for a £30 Free Bet this returns £165 (5.5 x £30).

You mention that the example results in a profit of £22+ at the exchange if the lay bet wins. If the lay odds are for arguments sake 7.2 (based on 2% commission with the exchange) you would lay £22.98 (I used the odds calculator in stake not returned mode to arrive at this figure).

Going back to your question about how you make a profit if the back bet wins with the bookie, as your lay stake is only £22.98 your liability at the exchange is less than the profit you make from the free bet because you also subtract 1 from the lay odds making your exchange liability 6.2 multiplied by £22.98 which comes to £142.48.

£165 - £142.48 = £ 22.52 profit if you win at the bookies OR no stake lost at the bookies + £22.98 (£22.52 after commission) profit at the exchange if the lay bet wins.

Hope this is of some help.
Thankyou to all for that

It just dawned on me as I was reading through your replies

Makes total utter sense now, I think I was just thinking too much about it so to speak

Thankyou for ur time in replying to my stupid question

Your patience is appreciated
 

geebobuk

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Thankyou to all for that

It just dawned on me as I was reading through your replies

Makes total utter sense now, I think I was just thinking too much about it so to speak

Thankyou for ur time in replying to my stupid question

Your patience is appreciated

It's very easy to do. I would say most matched bettors have been through this quandary at some point, hence the reason for trying to explain in a way that helped me understand how it worked when I started out.
 
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Billybx

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It's very easy to do. I would say most matched bettors have been through this quandary at some point, hence the reason for trying to explain in a way that helped me understand how it worked when I started out.
Your very kind
 

Jon

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I see the Wimbledon offers are starting to creep in with PP offer refunds if your chosen player doesn't reach the Quarter finals and WH offering a straight up £10 for £10 one
 
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jkg-jkg

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The Matchbook 0% offer has been extended for OM premium customers until end Jan next year (Smarkets has already been extended to end Sept, but I expect there will be pressure to align with MB) :D
 

Karonher

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Thankyou to all for that

It just dawned on me as I was reading through your replies

Makes total utter sense now, I think I was just thinking too much about it so to speak

Thankyou for ur time in replying to my stupid question

Your patience is appreciated



I have asked far more obvious than that. At the time it just did not make sense.
 
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