Matched Betting - Explain
Discussion
I need some help with understanding bet matching...
Just started looking at this and did my first one last night. I appreciate the basics being that I place a bet on one outcome, go on Betfair and lay against it, then use the free bet offer from the bookie and repeat to make the money.
Here's the bit that confused me. I opened an account with Betfair, and they too were offering a £20 free cash incentive, so along with the other bookie (i signed up with Bet Victor for my first go) i got free bets on both sides. I had to lay at least £20 with Betfair to qualify for the offer, hence the higher than normal first stake.
Actual Example from last night
Bet £20 on Team A to win @ 2.38 (generated £30 free bet)
Lay £20 on Team A not to win @ 2.5 (generated £20 free cash in account)
My head has started to go nuts. Is it as simple as I will make more money this first time around because my next bet will be using free money on both sides? I was following the online guides and I'm concerned I got carried away and lumped on too much.
What do I do next with the free bets? Honestly, I'm a clever guy but this whole thing is confusing me.
Just started looking at this and did my first one last night. I appreciate the basics being that I place a bet on one outcome, go on Betfair and lay against it, then use the free bet offer from the bookie and repeat to make the money.
Here's the bit that confused me. I opened an account with Betfair, and they too were offering a £20 free cash incentive, so along with the other bookie (i signed up with Bet Victor for my first go) i got free bets on both sides. I had to lay at least £20 with Betfair to qualify for the offer, hence the higher than normal first stake.
Actual Example from last night
Bet £20 on Team A to win @ 2.38 (generated £30 free bet)
Lay £20 on Team A not to win @ 2.5 (generated £20 free cash in account)
My head has started to go nuts. Is it as simple as I will make more money this first time around because my next bet will be using free money on both sides? I was following the online guides and I'm concerned I got carried away and lumped on too much.
What do I do next with the free bets? Honestly, I'm a clever guy but this whole thing is confusing me.
Yes, that's basically it.
You use a relatively low-odds gamble to score the free bet, and lay it so that either option is covered, that normally costs you a few percent of your original stake but nets a free bet. You then use the free bet at longer odds, and lay it, and the outcome should be positive if you've done everything correctly, because your original stake was free.
The confusing bit is the free cash on account, that doesn't normally happen so that's just another thing you can use to generate another go around. You might find there are withdrawal limits on the free cash, so maybe you have to stake it at least once to be able to withdraw it.
So normally:
Bet team A to win, as close to evens as you can match
Lay team A to win
Either team A wins or doesn't, result is a slight loss but a free bet.
Bet team B to win using free bet, on higher odds
Lay team B to win using proper money
Either team B wins or doesn't, result should be that winnings at either exchange or bookie, combined with free bet, negates both the lay stakes, and the small loss from the initial qualifier.
You use a relatively low-odds gamble to score the free bet, and lay it so that either option is covered, that normally costs you a few percent of your original stake but nets a free bet. You then use the free bet at longer odds, and lay it, and the outcome should be positive if you've done everything correctly, because your original stake was free.
The confusing bit is the free cash on account, that doesn't normally happen so that's just another thing you can use to generate another go around. You might find there are withdrawal limits on the free cash, so maybe you have to stake it at least once to be able to withdraw it.
So normally:
Bet team A to win, as close to evens as you can match
Lay team A to win
Either team A wins or doesn't, result is a slight loss but a free bet.
Bet team B to win using free bet, on higher odds
Lay team B to win using proper money
Either team B wins or doesn't, result should be that winnings at either exchange or bookie, combined with free bet, negates both the lay stakes, and the small loss from the initial qualifier.
Edited by droopsnoot on Tuesday 31st January 13:23
Jefferson Steelflex said:
I'm concerned I got carried away and lumped on too much.
Shortly someone will be along to tell you that a year from now you will be living in piss soaked cardboard box, whoring your wife out and selling your kids to organ harvesters. Because everybody knows that that's what happens to people that bet.Purity14 said:
You are betting for a team to win.
You are also betting for the same team to lose.
Whatever the result, they will win or not win.
You can't lose if you are matched betting, unless you take risks.
The only strategic losses that you make larger than normal qualifying losses that you should be doing is underlaying your bet when doing large rollovers.
But you are well aware of the results before the event takes place.
OP: After you make your initial 1000, or 1500 from opening offers, you should try doing some acca's.
Oh and start using smarkets instead of betfair, they are better on commission.
Edit to say: Matched betting is not gambling, its just maths. Despite placing quite a few bets each week, I do not consider myself a gambling person, I only like to deal in certainty.
Wouldn't you have to do 3 bets on a football match?You are also betting for the same team to lose.
Whatever the result, they will win or not win.
You can't lose if you are matched betting, unless you take risks.
The only strategic losses that you make larger than normal qualifying losses that you should be doing is underlaying your bet when doing large rollovers.
But you are well aware of the results before the event takes place.
OP: After you make your initial 1000, or 1500 from opening offers, you should try doing some acca's.
Oh and start using smarkets instead of betfair, they are better on commission.
Edit to say: Matched betting is not gambling, its just maths. Despite placing quite a few bets each week, I do not consider myself a gambling person, I only like to deal in certainty.
Edited by anonymous-user on Tuesday 31st January 16:34
Then pray there is no fog.
FredClogs said:
Only wins if no one draws obviously. So go for tennis or maybe boxing.
Also they'll shut you down if they catch you, which they well, because its a rigged game, the reason they're PLCs with fancy offices.
They'll shut you down if you are arbitrage betting through the same sites. If you are betting across multiples sites then they don't care as it's just a single bet.Also they'll shut you down if they catch you, which they well, because its a rigged game, the reason they're PLCs with fancy offices.
It is a lot of work over considerable time to make any decent money though. Or you need a lot of spare cash to turn a profit. You'd be better investing your time in studying form and backing winners, rather than collecting small dribs of money. Cheltenham soon, plenty of free money to be had.
Purity14 said:
The only strategic losses that you make larger than normal qualifying losses that you should be doing is underlaying your bet when doing large rollovers.
So this is where I need help. What's a rollover, and why would you take a strategic loss?Edited by Purity14 on Tuesday 31st January 16:34
I'll be doing my 'free' bet tomorrow so I want to maximise the opportunity.
TEKNOPUG said:
Cheltenham soon, plenty of free money to be had.
I have no idea about horses, can't stand it to be honest but if there's a way of making money through matched betting then i'm all ears?Edited by Jefferson Steelflex on Tuesday 31st January 16:46
There is an old tnread on here about this.
Long and very detailed.
There is a specific way of opening the acounts first of all to earn verious cashbbacks, and tne best free bets.
The cashbacks for doing it the right way add up nicely.
It was quite easy to make £800 over a coup,e of weeks if you put your mind to it.
That was without doing borses etc.
Ie only foot all.
Long and very detailed.
There is a specific way of opening the acounts first of all to earn verious cashbbacks, and tne best free bets.
The cashbacks for doing it the right way add up nicely.
It was quite easy to make £800 over a coup,e of weeks if you put your mind to it.
That was without doing borses etc.
Ie only foot all.
philv said:
There is an old tnread on here about this.
Long and very detailed.
There is a specific way of opening the acounts first of all to earn verious cashbbacks, and tne best free bets.
The cashbacks for doing it the right way add up nicely.
It was quite easy to make £800 over a coup,e of weeks if you put your mind to it.
That was without doing borses etc.
Ie only foot all.
I'll bet Phil's been brinkingLong and very detailed.
There is a specific way of opening the acounts first of all to earn verious cashbbacks, and tne best free bets.
The cashbacks for doing it the right way add up nicely.
It was quite easy to make £800 over a coup,e of weeks if you put your mind to it.
That was without doing borses etc.
Ie only foot all.
Jefferson Steelflex said:
Purity14 said:
The only strategic losses that you make larger than normal qualifying losses that you should be doing is underlaying your bet when doing large rollovers.
So this is where I need help. What's a rollover, and why would you take a strategic loss?Edited by Purity14 on Tuesday 31st January 16:34
I'll be doing my 'free' bet tomorrow so I want to maximise the opportunity.
TEKNOPUG said:
Cheltenham soon, plenty of free money to be had.
I have no idea about horses, can't stand it to be honest but if there's a way of making money through matched betting then i'm all ears?Edited by Jefferson Steelflex on Tuesday 31st January 16:46
I only really lay bets off if I'm on the final leg of a big acca or exotic. It's just insurance against losing. Obviously your returns are less. But when it's £1k or nothing, v guaranteed £500+, it makes sense.
desolate said:
Purity14 said:
No, just the two 
So;
Team A to win, and Team A to NOT win
or
Both sides to Draw, both sides to NOT Draw
or
More than 2.5 goals, NOT more than 2.5 goals
etc
OK didn't realise you could bet "with the draw" - thanksSo;
Team A to win, and Team A to NOT win
or
Both sides to Draw, both sides to NOT Draw
or
More than 2.5 goals, NOT more than 2.5 goals
etc
Will stick to the tote!
I.e. Team A will win with the bookmaker, and that they won't win on the exchange.
If they win your bookmaker bet wins, if they lose or draw the exchange bet wins.
It really is as simple as that, also unless you are betting in play the odds don't move that much on football matches.
Zoon said:
You are betting for and against a single outcome.
I.e. Team A will win with the bookmaker, and that they won't win on the exchange.
If they win your bookmaker bet wins, if they lose or draw the exchange bet wins.
It really is as simple as that, also unless you are betting in play the odds don't move that much on football matches.
Yes I understand now. I.e. Team A will win with the bookmaker, and that they won't win on the exchange.
If they win your bookmaker bet wins, if they lose or draw the exchange bet wins.
It really is as simple as that, also unless you are betting in play the odds don't move that much on football matches.
Not my scene really, but a nice way of starting an account if you are interested.
I've got a headache just reading this thread.
If you want to make a few easy quid, just learn to trade. When I had the time, it was like picking money off trees.
I was nowhere near as good as this guy, though: http://www.geekstoy.com/forum/showthread.php?4298-...
The f
ker turned £5 into £430 in 2 days and kept going.
If you want to make a few easy quid, just learn to trade. When I had the time, it was like picking money off trees.
I was nowhere near as good as this guy, though: http://www.geekstoy.com/forum/showthread.php?4298-...
The f
ker turned £5 into £430 in 2 days and kept going.desolate said:
sc0tt said:
So how quickly can I turn a grand into a few.
if it's a few quid - dead quick. Edited by Hoofy on Tuesday 31st January 17:54
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