Slide into gambling addiction

[Wesley]

Does anyone else feel like this could easily lead to an addiction if you're predisposed to it.

For example losing at the bookie to move money to the exchange. 9 times out of 10 I choose the right (losing) bet. Then I think, if I'm that good, maybe I should just bet....easy money. Then reality snaps back into place and I realise how stupid that would be.

 

[jkg-jkg]

Typically if you really are that disposed to it you would already be doing it.

Remember you need to 'win' a lot more losing bets to cover one winning bet. I had a 6/1, 5/1 and 15/1 win into the bookie out of 6 bets and therefore took £600 out of the exchange with £75 going in so if I had been 'betting' on the losers I would be £500 down and would need 20 losers just to get back to even. So treat it as a job and do the back and lay religiously (as you get more experienced you may leave a lay until later in the week or day based on experience but always look to lay whatever). Those that play at being the bookie had a pot of at least £50k to be successful to live with the variance (as in my example), so if you get to that point then feel free to gamble, but until then just trust the maths

 

[Jon]

You need to ALWAYS treat Matched Betting as a business

You wouldn't flitter away your business money on chance and so that is why you keep things risk free!

 

[Lizziew24]

Does anyone else feel like this could easily lead to an addiction if you're predisposed to it.

For example losing at the bookie to move money to the exchange. 9 times out of 10 I choose the right (losing) bet. Then I think, if I'm that good, maybe I should just bet....easy money. Then reality snaps back into place and I realise how stupid that would be.

I sometimes feel like that. I used to love slot machines but thankfully got out of that. A few months back I had a little blip doing roulette...only £5 here and there, but then I had a stern word with myself before being too much out of pocket. I have to stick to the knowledge that whilst it may seem like easy money to gamble when you are picking the winning horse every time, doing matched betting is risk free and those small amounts will add up in time.

 

[katykicker]

IF you're predisposed then definitely just avoid matched betting. You will almost always eventually get sucked back in.

 

[The Reverend]

I remember someone on Another Forum analysed all their MB history and if they had just bet on the favourite each time, rather than lay it as a true matched bet, they would have been in a similar end position after the year.

HOWEVER

its vital for people to know that this was one person's take on it and it ISN'T matched betting.

 

[Wesley]

they would have been in a similar end position after the year

With MB you're guaranteed to be in that position. As you implied that person lucked out.

Also the winning choices tend to stick in the mind longer so you start to think you're able to pick the right bet every time. And that might be the case for a while but luck can't last forever.....

Either way, something I've got to keep in mind when I start getting too cocky!

 

[The Reverend]

With MB you're guaranteed to be in that position. As you implied that person lucked out.

Also the winning choices tend to stick in the mind longer so you start to think you're able to pick the right bet every time. And that might be the case for a while but luck can't last forever.....

Either way, something I've got to keep in mind when I start getting too cocky!

They had a spreadsheet of data to analyse. The best way to think about MB is that it is 2 transactions that equal a profit. It might be a small profit but it is always a profit. I've had 2 decent wins where I've tried to MB and ballsed it up. Luckily I ended up VERY up on them. But easily could have seen me lose cash. And I have lost cash. Just not much.

Matched Betting is a bad name for it. Boring financial transaction would be a better name, but then people wouldn't fall for it!

 

[Cas]

They had a spreadsheet of data to analyse. The best way to think about MB is that it is 2 transactions that equal a profit. It might be a small profit but it is always a profit. I've had 2 decent wins where I've tried to MB and ballsed it up. Luckily I ended up VERY up on them. But easily could have seen me lose cash. And I have lost cash. Just not much.

Matched Betting is a bad name for it. Boring financial transaction would be a better name, but then people wouldn't fall for it!

lool that is actually a good name for it

 

[MamaMidwife]

Hahahaha I like it! "I make a bit of money on the side through BFT"

 

[Jon]

Autospin = endless random number generator

 

[The Minertaur]

I'm not gonna lie I've been putting on more bets that I ever had done before recently. Mug betting but I've realised that it's a bit OTT and that I need to cut back. I tend to break even but had a bad weekend and it's made me realise that I'm being a fool with it. The only advice I can give is just to make sure that you're laying your bets to ensure you don't make a loss as it's really not worth it.

 

[The Reverend]

I'm not gonna lie I've been putting on more bets that I ever had done before recently. Mug betting but I've realised that it's a bit OTT and that I need to cut back. I tend to break even but had a bad weekend and it's made me realise that I'm being a fool with it. The only advice I can give is just to make sure that you're laying your bets to ensure you don't make a loss as it's really not worth it.

Maybe I'm teaching you to suck eggs but it was only on this very site that I realised that Mug Bets (putting bets on to keep your bookie account in order) were supposed to be matched at the exchange for small losses.

I haven't mugged any of my accounts but when I realised they should be matched, it all made a lot more sense.

Actually placing bets 'hoping' for a win is an easy way to lose any MB profits.

 

[The Minertaur]

Maybe I'm teaching you to suck eggs but it was only on this very site that I realised that Mug Bets (putting bets on to keep your bookie account in order) were supposed to be matched at the exchange for small losses.

I haven't mugged any of my accounts but when I realised they should be matched, it all made a lot more sense.

Actually placing bets 'hoping' for a win is an easy way to lose any MB profits.

I never even click that you could offset them haha. Will be doing that from now on.

 

[Jon]

I never even click that you could offset them haha. Will be doing that from now on.

You've not been laying your mug bets???

 

[The Minertaur]

You've not been laying your mug bets???

Was only putting on a pound here and there without even thinking about it. Every penny is a prisoner though so should have been!

 

[The Reverend]

Was only putting on a pound here and there without even thinking about it. Every penny is a prisoner though so should have been!

It was a revelation to me. Hearing people mug £20-25 bets all weekend I was thinkign "why are you blasting all your profits back to the bookies?" And I don't think I'm an idiot!

At least now you know.

 

[Parselmouth]

I did work it out but it would help if it was mentioned in the instructions.

 

[Stims]

Focusing only on one aspect; yes matched betting can and has led to gambling problems.

I've read many horror stories of people going on gambling binges, chasing losses and regretting it. A few hours of madness is all it takes.

In reality most of these people would have the perfect traits to become problem gamblers anyway. Having a large amount of cash at their disposal, most of which they are somewhat unattached too makes it very easy and it's only in hindsight they realise what a fool they have been. Last season i myself stuck 200 quid on an unbeaten real madrid side who were 1-0 up... only to watch them go on and lose. An amount that seems small to me now, but before matched betting would have been unheard of.

Luckily i've never gambled more than i would be happy to lose and i've always made money over the long term.

 

[Arika]

I had to step away from matched betting because I was tempted to do the slots and I got out of control. I have a history, so matched betting wasn't the best thing for me to get into as I was exposed to sites with a slot/casino section.