Matched Betting
Discussion
Following a discussion in the low start up business thread https://www.pistonheads.com/gassing/topic.asp?h=0&...
A few people have expressed interest in matched betting so rather than completely hijacking that thread I've started a new one.
So what is matched betting?
At it's simplest form it is using the offers and promotions that bookies give out to make a profit. The betting world is fiercely competitive with bookmakers fighting hand over fist to take your money off you. To do this they provide "sign up" offers and also "reload" offers. Reloads are offers they give out to keep you going back.
Matched betting takes advantage of this, to use this "free" money to turn a profit.
Now for an example; William Hill will give you £30 in free bets if you spend £10. Now even just putting these bets on would be positive estimated value as you are getting free bets however we want to guarantee money from them.
So we will look for a close match between William Hills odds and the odds at the exchange to Lay the bet. A lay bet is to bet that something wont happen.
For an example say Man Utd were playing Newcastle. If we were in the winner market there is 3 things that could happen, either team could win or they could draw.
If we bet Man Utd to win at William Hill, we could Lay this bet, ie bet they won't win at the exchange.
If Man Utd win we will win at the bookies. If they draw or lose we will win at the exchange.
For our first £10 we would aim for close odds to get as small as possible "qualifying" loss.
We will then be given 3 £10 bets to use, which we will then go through the same process to extract as much of the £30 as possible. Realistically we would be looking at £25 profit. Which when you know what you are doing will take 5 minutes.
For more explanation on how it works this post goes into more detail -
Now this is easy but the difficult thing can be finding the offers and working out how much you need to place to get the correct back and lay bet.
For this there are two big sites dedicated to teaching matched betting
Personally I much prefer Oddsmonkey as it has a cheaper upfront cost, being £15 a month and will also show you how to complete an offer to pay for the subscription to show you it works before you have to pay.
However both sites will show you how to complete offers and make a profit so choose which ever you prefer.
Finally how much can be made? Well there are claims of people making £10,000+ a month but obviously these are the exception. Personally I average between £1,000 to £2,000 and feel most people can make £500+ a month with very little time spent. Obviously this does take some effort getting used to with most of the effort been upfront to learn, once you have learnt how to do it the time needed is quite small.
Hope I've explained this well and be nice to see a few more people get involved and take some profit away from bookmakers.
ETA
Links deemed to be affiliated, and therefore removed.
A few people have expressed interest in matched betting so rather than completely hijacking that thread I've started a new one.
So what is matched betting?
At it's simplest form it is using the offers and promotions that bookies give out to make a profit. The betting world is fiercely competitive with bookmakers fighting hand over fist to take your money off you. To do this they provide "sign up" offers and also "reload" offers. Reloads are offers they give out to keep you going back.
Matched betting takes advantage of this, to use this "free" money to turn a profit.
Now for an example; William Hill will give you £30 in free bets if you spend £10. Now even just putting these bets on would be positive estimated value as you are getting free bets however we want to guarantee money from them.
So we will look for a close match between William Hills odds and the odds at the exchange to Lay the bet. A lay bet is to bet that something wont happen.
For an example say Man Utd were playing Newcastle. If we were in the winner market there is 3 things that could happen, either team could win or they could draw.
If we bet Man Utd to win at William Hill, we could Lay this bet, ie bet they won't win at the exchange.
If Man Utd win we will win at the bookies. If they draw or lose we will win at the exchange.
For our first £10 we would aim for close odds to get as small as possible "qualifying" loss.
We will then be given 3 £10 bets to use, which we will then go through the same process to extract as much of the £30 as possible. Realistically we would be looking at £25 profit. Which when you know what you are doing will take 5 minutes.
For more explanation on how it works this post goes into more detail -
Now this is easy but the difficult thing can be finding the offers and working out how much you need to place to get the correct back and lay bet.
For this there are two big sites dedicated to teaching matched betting
Personally I much prefer Oddsmonkey as it has a cheaper upfront cost, being £15 a month and will also show you how to complete an offer to pay for the subscription to show you it works before you have to pay.
However both sites will show you how to complete offers and make a profit so choose which ever you prefer.
Finally how much can be made? Well there are claims of people making £10,000+ a month but obviously these are the exception. Personally I average between £1,000 to £2,000 and feel most people can make £500+ a month with very little time spent. Obviously this does take some effort getting used to with most of the effort been upfront to learn, once you have learnt how to do it the time needed is quite small.
Hope I've explained this well and be nice to see a few more people get involved and take some profit away from bookmakers.
ETA
Links deemed to be affiliated, and therefore removed.
Edited by Big Al. on Thursday 2nd August 10:55
singlecoil said:
I would be interested to know how long the bookmakers are going to continue to give money away. I would also have thought that if this was true, why anyone making money at it would want to spread the news rather than keeping it to themselves.
They've been giving away money like this for years. The levels aren't as high as they used to be though.
In 2012 I cleared about £2.5k in profit doing nothing but matched betting.
Stake requirements etc seem to have changed, and their don't seem to be as many bookies around as their were then but this is a viable way to make some money.
The problem being it get's more and more complicated as you use up all the simple offers, you're then waiting for reloads etc from bookies you are registered with.
It's also quite easy to get yourself banned form bookies if they work out what you are doing - i'm still not welcome to gamble on several of the big name sites.
There was a lengthy thread on this topic several years ago - i'll see if I can find it out.
singlecoil said:
I would be interested to know how long the bookmakers are going to continue to give money away. I would also have thought that if this was true, why anyone making money at it would want to spread the news rather than keeping it to themselves.
I imagine they will continue doing offers for a long time as it gets them customers and increases their profits. However matched betting will get your accounts “gubbed” at some point. This means they will not allow you to take part in offers, stake restrict you or ban you. The game is keeping accounts open as long as possible and using as many bookies as you can there, there are hundreds of online ones.As for why would anyone teach this rather than just making profit for themselves well £15 a month membership per person plus commission from anyone they get to sign up to Smarkets is a good business. This doesn’t mean what they teach doesn’t work though.
After years of get rich quick schemes, I know I'm going to get rich off this scheme - and quick.
-H Simpson.
After years of hearing this I now strongly believe that some if not all of the Internet chatter about match betting and even the pay for match betting tipsters are part of the industry. The bookies have a budget to get you hooked, they have rooms of Cambridge grads working out how much to give away to whom in order to provide a return.
I'm not saying you can't turn a few quid if you don't make mistakes, you can, but it's factored in to the system and it would be far easier to do a few hours overtime at work or get an evening bar job and you wouldn't become such a bore to your mates and strangers on the Internet.
-H Simpson.
After years of hearing this I now strongly believe that some if not all of the Internet chatter about match betting and even the pay for match betting tipsters are part of the industry. The bookies have a budget to get you hooked, they have rooms of Cambridge grads working out how much to give away to whom in order to provide a return.
I'm not saying you can't turn a few quid if you don't make mistakes, you can, but it's factored in to the system and it would be far easier to do a few hours overtime at work or get an evening bar job and you wouldn't become such a bore to your mates and strangers on the Internet.
It's not zero risk but it's low risk.
In the glory days I was a student, matched bets up to £250, 10x playthrough. Ah, happy days.
I made £240 in 1hour by hitting red 2500 times on roulette.
Not as lucrative now, and you need to lay against other providers as they don't offer such stupid sign ons, but done right, mathed betting leveraging intro/bonus offers is a solid strategy.
In the glory days I was a student, matched bets up to £250, 10x playthrough. Ah, happy days.
I made £240 in 1hour by hitting red 2500 times on roulette.
Not as lucrative now, and you need to lay against other providers as they don't offer such stupid sign ons, but done right, mathed betting leveraging intro/bonus offers is a solid strategy.
You can do all of this on the Betfair Exchange yourself, ignore the "free" bets and the people harvesting your details/data and spend, and cross referencing bookies.
There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
Deesee said:
You can do all of this on the Betfair Exchange yourself, ignore the "free" bets and the people harvesting your details/data and spend, and cross referencing bookies.
There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
You don't need to do any of this though. There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
Matched betting is simply taking advantage of Bookie offers for free bets etc.
You don't need an 'edge'.
You need a bit of time or a useful website to find matched bets.
No one needs to be 'spat out'.
iphonedyou said:
crosseyedlion said:
Helpful of you, but cheeky to be pocketing affiliate fees for sending people their way.
Why's that cheeky?Dan_1981 said:
Deesee said:
You can do all of this on the Betfair Exchange yourself, ignore the "free" bets and the people harvesting your details/data and spend, and cross referencing bookies.
There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
You don't need to do any of this though. There are video tutorials showing how to turn a "red" market into a "green" market.
I know pros whom do this everyday, and the amounts they are laying on a single event is frankly frightening, one in his home office, has 6 screens and an SIS link (as its a couple of seconds quicker), if you think you can take them on with a £30.00 free bet then your a little misguided.
If your going to do it play nice and set a limit of what your happy to lose, and enjoy the wins, there are some very big fish on that exchange whom will eat you up and spit you back out!
Matched betting is simply taking advantage of Bookie offers for free bets etc.
You don't need an 'edge'.
You need a bit of time or a useful website to find matched bets.
No one needs to be 'spat out'.
I can match by backing and laying any bet using their exchange, playing one bookie against another with free bets trying to find a minuscule of value will be against their terms and conditions.
Whats an "edge".
No thanks, as I don't wish to give my personal details to any 3rd party rouge who will unscrupulously resell my details (again and again) and spending habits as if they own them, all in the effort of receiving a "free" bet, while the associate/affiliate receives a commission for my spend/losses, with no regard for data protection or my privacy.
A word of warning, as you seem to have been on here a while and have a number of posts, I have never seen a gambling advert on this site, so can only guess that the people that own it don't want gaming money, I would check the terms and conditions of this site to make sure your not breaking any site rules, and I would also suggest that you ensure that posting links will not bring you into disrepute with say the gaming commission.
Dan_1981 said:
Lets stay with that one then.Gassing Station | Business | Top of Page | What's New | My Stuff