Matched Betting

So, I’m sure one of you guys partake in this :smiley: it’s a big forum and a small world after all

Let’s get this thread started: so to my understanding matched betting is just easy money from taking advantage of bookies offering to match your deposit right? you bet both ways and get money extra

Could someone explain more how this works in practice? Apps, websites etc that help with it

Are there any risks?

How much money do people make from this kind of thing?

Thanks

Only if you make a mistake.

Depends on how much time you spend.

Check out this forum. There is a lot of info there.

https://forums.moneysavingexpert.com/showthread.php?t=325861

I should say I have never done it. I’ve played with the thought many times, but never had the time to actually do it…

Only a brief explanation as I’m just heading out.

You essentially place 4 bets each time.

Bet 1 is designed purely to qualify for the “free bet of £XX amount”.

You would place this bet on the betting site of the company offering the promotion.

You would then “lay” the same bet on an exchange like Betfair. It’s effectively the opposite bet of your first one.

Example would be…

Bet 1 on Bet 365 - Man Utd to win.

Bet 2 on Betfair - Man UTD NOT to win.

In an ideal world, you’d only lose a few pennies, but most of the time it would be a couple of quid or so.

Note: Football bets aren’t usually great value here - Horse Racing is where it’s at.

Once you’ve qualified for the free bet, you’d do exactly the same thing again.

If that was a £50 free bet, you’d end up with around £48 profit.

I made a couple of grand in a few months, but after that it becomes a bit of a chore to keep it all going.

Not to mention the betting sites will ban you after a while, unless you place smaller “dummy” bets, which are essentially loss making bets designed to cover up your taking advantage of the free bets all the time.

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Matched betting was always something I fancied trying and didnt get around to doing it.

But afew weeks ago I signed up to a well known matched betting site as they were doing a 7 day pass for £1.

I had a few days spare and abit of extra cash in the bank so thought I’d give it a go.

It’s actually really easy, it helps if you havnt signed up to any bookmaker sites before as you can get all the sign up bonuses and start making reasonable money within a few hours / days.

I actually profited £145 in the first 3 days (7 hours of “work” in total). But I stopped after the 7 day trial period ended- making a £276 profit and spending roughly 15- 16 hours of my own time. (The hours/profit wasnt as good as I had hoped but I was slow at first making sure I was doing things correctly and learning on the job. So it took longer; I suspect as confidence grows; time spent would also decrease as well)

The reason I stopped is because it is time consuming, you have to crunch numbers (certain paid sites do help - with calculators and odds checkers etc). But you need to be quick at placing your bets, because the odds market is a dynamic one. Odds change often, and you need to adjust calculators and make sure your staking at the correct odds and correct monetary value for maximum returns.

The the amount of cash that you actually tie up can become abit daunting. Your free Back bet of £20, could mean your putting a lay bet on that’s in the £100’s just to cover your back bet. (Odds dependant, but you want to pick the higher odds to maximise your free bet returns)

You also need to juggle money around between exchanges and this also takes time for bookies to process and return the cash back to your bank; for you to then deposit into another bookie. It starts to feel like abit of a ball ache and that was only after a few days of doing it, by the end of the week I was starting to feel abit stressed.

For someone who has the time, the patience, and the initial capital. It can provide you with a reasonable stream of income.

Theres plenty of tutorials out there, and matched betting sites do help you on your journey.

I may get back into it at some point. But for now - I’m happy to say I tried it, made some money and gave it a go.

You can be smart with your betting - dont get too greedy and your chances of being “gubbed” (bookie banned) are slimmer, but eventually it will happen.

Also rounding up your bets to whole figures also helps this, why would anyone bet £76.23 on a horse to win a race for example, youd bet £75, or £80. This is more for when your dutching. I only did 1 dutch bet in my 7 days.

There is alot to learn. But it doesnt take long. It’s actually quite simple once you get your head around it initially.

Also - there are so many bookies around these days. A large % of them you will not have heard of, and there is an aspect of do you trust the bookie your using, placing large bets for a small % return. I’m sure it’s fine, and there are very rarely problems. But it was just something I personally didnt feel entirely comfortable with.