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Matched Betting Discussion [OT] Discussion about Matched Betting II {Beginners Guide in 1st Post}
- Thread starter Jon
- Start date
Hollyhock64
Money Making Megastar!
I hope this is the right place to write an update about MB.
I have finished my second beginners bet from PA, and I think I am £32 in profit. I was cautious when I placed my bets about not needing to have too high an amount in Betfair. So I have decided I will join PA, and I am glad I waited as there is a discounted membership this weekend.
May I just ask though, a couple of questions which have been on my mind? If MB is so good, why don't gamblers do it so they don't get thousands of pounds into debt? Also, how does anyone (bookies) make any money out of it? I think it is these questions which have been holding me back from MB.
Finally, I have been impressed by reading about people making thousands of pounds from MB, and I wondered do they do it with lots of smaller bets or by plaing larger bets than I have done as yet?
Thanks all.
I have finished my second beginners bet from PA, and I think I am £32 in profit. I was cautious when I placed my bets about not needing to have too high an amount in Betfair. So I have decided I will join PA, and I am glad I waited as there is a discounted membership this weekend.
May I just ask though, a couple of questions which have been on my mind? If MB is so good, why don't gamblers do it so they don't get thousands of pounds into debt? Also, how does anyone (bookies) make any money out of it? I think it is these questions which have been holding me back from MB.
Finally, I have been impressed by reading about people making thousands of pounds from MB, and I wondered do they do it with lots of smaller bets or by plaing larger bets than I have done as yet?
Thanks all.
Gamblers bet normally because they enjoy the risk
Matched betting is boring and has no risk so its if no interest to then
How do we make money long term - by doing LOTS of reload offers earning anywhere from £10 free bets to £50 free bets
How do the bookies make money from it? We we lose money into our bookie account when we win at the exchange to they still make value out of us
Matched betting is boring and has no risk so its if no interest to then
How do we make money long term - by doing LOTS of reload offers earning anywhere from £10 free bets to £50 free bets
How do the bookies make money from it? We we lose money into our bookie account when we win at the exchange to they still make value out of us
Rumcake
Money Making Megastar!
[member=4180]Hollyhock64[/member] I think it's also important to add that a lot of 'matchbetters' will include bingo and casino winnings into their totals. This will significantly boost earnings. Some of these winnings will come down to luck and may involve a gamble, meaning you can lose money. I'm not sure how many true totals I've seen that are from risk-free, free bets alone.
You can play certain games strategically and you can also use cashback sites to keep any losses at a minimum. I'd say not to get into match betting by being enticed with earning thousands of pounds. It takes time and practise and once all the welcome offers are gone the reloads can be less generous or take more effort. A completely risk-averse person is more likely to earn less than others who are not imo. I do feel personally I could make more but I tend to stick with risk-free as losing the smallest amount would get me down.
You can play certain games strategically and you can also use cashback sites to keep any losses at a minimum. I'd say not to get into match betting by being enticed with earning thousands of pounds. It takes time and practise and once all the welcome offers are gone the reloads can be less generous or take more effort. A completely risk-averse person is more likely to earn less than others who are not imo. I do feel personally I could make more but I tend to stick with risk-free as losing the smallest amount would get me down.
Hollyhock64
Money Making Megastar!
Thanks [member=2550]Rumcake[/member] and [member=1]Jon[/member]. I keep thinking "If it seems to good to be true..." but I have seen with my own eyes that I did make £30+, so I will press on.
I would never have tried it without being able to read all about it on TMS due to a sceptical and cautious nature, so thanks. Even the emails from PA would have made me run a mile without the corroboration here.
I would never have tried it without being able to read all about it on TMS due to a sceptical and cautious nature, so thanks. Even the emails from PA would have made me run a mile without the corroboration here.
Uhhhhh
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[member=4180]Hollyhock64[/member] I'm not a gambler so it's hard for me to gauge why people do it, but I guess that matched betting completely takes away the 'thrill' or excitement of gambling because it's taking the risk away. I don't give a toss about sport or gambling so it doesn't bother me, but my boyfriend loves football so for him he might have a little flutter on a Saturday afternoon whilst watching a few games and it is all part of the fun. He's got no interest in MB even though he sees my profits.
Bookies don't like people to matched bet, which is why we do our best to remain under their radar and to appear as a normal punter through mug betting, not extracting too much value from them, aiming to use free bets on odds that are not too high and on outcomes likely to lose at the bookies. The reason that they do all of their offers is to entice people to spend (and lose) money with them - that's why you have to do a qualifying bet to get a free bet, and they hope that whilst you're there you'll do even more bets then and in the future. They have the house edge and they want your money - that's why, if you're seen as taking too much value from a bookies or abusing their offers, then they will ban you from offers and/or restrict your account. The key to longevity with MB is to look after your accounts well.
I second everything [member=2550]Rumcake[/member] has said. Don't be swayed by the reported earnings of others because they often include lucky slot wins, un-laid bets winnings (so, actual gambling), happy mistakes (a bet not matching at the exchange but then luckily winning into the bookies, so again - actual gambling) and 'the wife's account' (so, multi-accounting then). I think we're all very transparent on The Money Shed, and we share our actual earnings but there are a LOT of people on the PA/OM forums that report inflated earnings; you see it allllll the time. That's not to say that these earnings would have been possible without matched betting, and it's a persons prerogative to make and report their earnings in whatever way that they like, but it's worth taking them with a pinch of salt IMO.
If you like taking some risks with slot offers, and putting more time into offers where profit is not guaranteed but could be tasty (e.g. refund if x happens offers) then you can probably make more money and faster. Or if you do every single offer that is out there (like the forum threads on PA for how to make £30 a day or similar) or if you're able to extract very high value from your free bets then you will probably make more money, but in those cases you've got to take good care of your accounts or gubbings will hit you hard. For example, PA tell you to aim for 80% return on a fb - this hardly ever happens in my experience, because it's either an arb or the odds are way too high - if you do all of your free bets on high odds then you're much more likely to be gubbed, especially if the bet wins at the bookies.
Personally I like do all of my free bets between 3.0-4.5, don't jump on every offer, extract probably 65-70% profit from free bets, I'm risk-averse to the slot offers and I cba to allocate my time to chasing non-guaranteed refund offers unless I'm sitting around the house anyway. I'm more than happy with £400-£500 a month.
Bookies don't like people to matched bet, which is why we do our best to remain under their radar and to appear as a normal punter through mug betting, not extracting too much value from them, aiming to use free bets on odds that are not too high and on outcomes likely to lose at the bookies. The reason that they do all of their offers is to entice people to spend (and lose) money with them - that's why you have to do a qualifying bet to get a free bet, and they hope that whilst you're there you'll do even more bets then and in the future. They have the house edge and they want your money - that's why, if you're seen as taking too much value from a bookies or abusing their offers, then they will ban you from offers and/or restrict your account. The key to longevity with MB is to look after your accounts well.
Rumcake said:
I second everything [member=2550]Rumcake[/member] has said. Don't be swayed by the reported earnings of others because they often include lucky slot wins, un-laid bets winnings (so, actual gambling), happy mistakes (a bet not matching at the exchange but then luckily winning into the bookies, so again - actual gambling) and 'the wife's account' (so, multi-accounting then). I think we're all very transparent on The Money Shed, and we share our actual earnings but there are a LOT of people on the PA/OM forums that report inflated earnings; you see it allllll the time. That's not to say that these earnings would have been possible without matched betting, and it's a persons prerogative to make and report their earnings in whatever way that they like, but it's worth taking them with a pinch of salt IMO.
If you like taking some risks with slot offers, and putting more time into offers where profit is not guaranteed but could be tasty (e.g. refund if x happens offers) then you can probably make more money and faster. Or if you do every single offer that is out there (like the forum threads on PA for how to make £30 a day or similar) or if you're able to extract very high value from your free bets then you will probably make more money, but in those cases you've got to take good care of your accounts or gubbings will hit you hard. For example, PA tell you to aim for 80% return on a fb - this hardly ever happens in my experience, because it's either an arb or the odds are way too high - if you do all of your free bets on high odds then you're much more likely to be gubbed, especially if the bet wins at the bookies.
Personally I like do all of my free bets between 3.0-4.5, don't jump on every offer, extract probably 65-70% profit from free bets, I'm risk-averse to the slot offers and I cba to allocate my time to chasing non-guaranteed refund offers unless I'm sitting around the house anyway. I'm more than happy with £400-£500 a month.
Hollyhock64
Money Making Megastar!
Thanks [member=2431]Uhhhhh[/member] [member=2550]Rumcake[/member] for the advice. It is much appreciated. What does "gubbed" mean, also "arbing"? Someone definitely needs to do a betting glossary!
Uhhhhh
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[member=4180]Hollyhock64[/member] 'Gubbed' means that a bookies has banned or excluded you from offers and/or has restricted your account so you get limits put on how much you can bet. This happens when the bookies thinks you are no longer a valuable customer - it might be because you're abusing the offers (for example, doing ONLY bets on offers and nothing else), you have taken too much value from them and are no longer profitable (for example, you've had a lot of wins that are perhaps with higher odds, lots of wins from free bets etc.) or because you're taking arbs. Most likely a mixture of all 3!
An arb is when the odds at the bookies are lower than the odds at the exchange at the same time (e.g. a horse is 6.0 to win at Coral and 5.0 to lay at Betfair Exchange). When you bet on an arb you always make a profit - in the example I just gave, if you bet £50 and layed it off then you'd make about £8 even without an offer because of the difference in odds. Usually an arb won't stay for long as the bookies update their odds to reflect the drop in price. When you look on the oddsmatcher to find a match then you will notice there is a column with an 'arb rating', so anything above 100% is an arb. Avoid!
You will probably inadvertently bet on some slight arbs now and again, but don't worry because that won't count against you - e.g. today I put a back bet on the Chelsea game and when I went to do the lay bet the odds had dropped and it turned into a small arb bet, but it was only slight, it's a huge game with a lot of liquidity in the market and I only put £10 on. It's when you're obviously looking for arbs when it becomes a flashing red light to bookies - if you're putting £50 bets on some random third league of local Hungarian football which is a big arb, well then it would be an issue lol.
An arb is when the odds at the bookies are lower than the odds at the exchange at the same time (e.g. a horse is 6.0 to win at Coral and 5.0 to lay at Betfair Exchange). When you bet on an arb you always make a profit - in the example I just gave, if you bet £50 and layed it off then you'd make about £8 even without an offer because of the difference in odds. Usually an arb won't stay for long as the bookies update their odds to reflect the drop in price. When you look on the oddsmatcher to find a match then you will notice there is a column with an 'arb rating', so anything above 100% is an arb. Avoid!
You will probably inadvertently bet on some slight arbs now and again, but don't worry because that won't count against you - e.g. today I put a back bet on the Chelsea game and when I went to do the lay bet the odds had dropped and it turned into a small arb bet, but it was only slight, it's a huge game with a lot of liquidity in the market and I only put £10 on. It's when you're obviously looking for arbs when it becomes a flashing red light to bookies - if you're putting £50 bets on some random third league of local Hungarian football which is a big arb, well then it would be an issue lol.
Knopfler
The cleverest woodpecker in all of Yorkshire!
Uhhhhh said:
Thanks, [member=2431]Uhhhhh[/member] for the detailed information. I would just do Win Bets for now then. I'm rubbish at working stuff out, even with instructions, ha ha!
I will probably stick to footie at the moment. It is just a bit difficult with most matches being at the weekend - especially when trying to support 'my team/s
Uhhhhh
Money Making Megastar!
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[member=4097]Darksideofthemoon[/member] Start off with a couple of low stake EW bets and see how you fare. It's not too bad once you get into it. There are maybe other EW calculators out there which will calculate it for you - there is one included in the advanced calculators on OM (or just use the EW matcher).
Knopfler
The cleverest woodpecker in all of Yorkshire!
Thanks, [member=2431]Uhhhhh[/member] Will look into it when I have more time (and confidence)