Sign in to follow this  
Followers 0
eldavo69

Matched Betting

15 posts in this topic

Anyone on here do matched betting?

A mate of mine does it and told me about it. I've done it for 2 weeks now with a spare £500 as a float - am up £235 currently, aiming for another £1k in September.

Share this post


Link to post
Share on other sites

Are you talking free bets that are matched or laying odds? If the latter, be very careful!!

Share this post


Link to post
Share on other sites

Seriously what is it with Aloe Vera - seems every stay at home mum is flogging this stuff?

Matched betting as in free bets. Laying the qualifying bet for 5-10% loss and then underlaying the free bet to return about 80% of it win, lose or draw.

Share this post


Link to post
Share on other sites

They have all succum to the multi level marketing that is forever living. The biggest pile of shite I have ever seen.

As you say, I have seen decent, honest mums turned into some kind of machine that has to force nasty tasting gunk down the necks of their friends in order to jump up to the next rung of the ladder.

:[awaits the tsn seller to tell me I am talking rubbish and that there is a fortune to be made]

Share this post


Link to post
Share on other sites

If that sh1t was any good, it'd be on sale everywhere, not being sold by idiots on Facebook.

Share this post


Link to post
Share on other sites

There were two blokes and a woman selling makeup in Wetherby services last week. The guy approached me with the line "Any ladies in your household sir?" I responded with "Yes, but there'd be one less if I bought her some random no-name makeup from a petrol station"

Anyway, back on thread . . .

Edited by eldavo69

Share this post


Link to post
Share on other sites

So - dipped my toes into matched betting in August with £500. Realised it was nowhere near enough and ended up putting £2k in.

29 bookie accounts, 2 promotional restrictions and 530 bets later I ended the year £2100 up. I have done another £120 in the 6 days this year for about 40mins spread out here and there.

So far I have not spent the profits on Aloe Vera.

Share this post


Link to post
Share on other sites

There is money to be made on matched betting (one of my clients is a national betting chain) but it is short term for one reason....

 

They will close your accounts.  I categorically assure you.  If you get 12 months out of it, I'll be amazed.  Most won't get 6 months before the accounts get closed.

 

Bookmakers are some of the cleverest operators you'll ever encounter and anyone who watched the recent documentary on Coral will know that the betting industry monitors gamblers and if you read the fine print you'll find that data can be shared - and that's what they use to weed the matched betting punters out.  Syndicates have tried it for a long time.  Most don't last a week now.

 

p.s. this isn't new, far from it.  The site that started it all off was FixTheOdds.  It looks dead now but I haven't had a good look around it.  It offered a subscription based system for tracking the offers and automating the process for members.

Edited by NewNiceMrMe

Share this post


Link to post
Share on other sites

Can someone explain what matched betting is please?  I (genuinely) have no idea.

 

 

Oh, but while I'm here, because I can't help but do this:

 

There were two blokes and a woman selling makeup in Wetherby services last week. The guy approached me with the line "Any ladies in your household sir?" I responded with "Yes, but there'd be one less if I bought her some random no-name makeup from a petrol station"

 

You mean "one fewer" :coffee:

 

:grin:

Share this post


Link to post
Share on other sites

Wiki offers the best definition I've seen (better than I'd have given you):

 

Stage 1

The first stage is to qualify for the offered free bet, e.g. by making a £10 bet with Bookie X for England to win. There is a chance that England might not win, in which case you would normally lose the £10.00. This bet is referred to as the 'Back Bet'. However, in matched betting, this loss is minimized by placing a bet at the same time at a betting exchange for England not to win ( i.e. to lose or draw). This is called a 'Lay Bet'.

 

By applying the correct equations, the individual making the bets knows how much to place at the betting exchange so that no matter the outcome of the England match, the bettor will suffer a small loss (typically under 10% of the value of the free bet offer). However, by making this initial bet, they have qualified for the free bet.

 

Stage 2

The second stage is to use the free bet; for example, making a £10 back bet with Bookie X for France to win. Again a lay bet is placed for France not to win to offset any loss.

The mathematics of matched betting means that the profit made is identical, regardless of result. In this example, it is assumed that the overall profit from this match is £8, since any loss is offset by larger winnings achieved through laying this bet. This means that matched betting individuals will know for sure how much profit they will make before the match starts. Less the initial loss, the matched better's net profit is £7.00.

 

In the same way, the mathematics of similar types of offers by casinos can be calculated. With these there is no exchange to lay on. You take the Return to Player (RTP) of the game and multiply it by the stake requirements. You then do the same with the free bonus multiplied by the wagering requirements. If the latter is higher, then (while not risk free) it's profitable in the long term to take advantage of the casino offer as well as the sports book.

Share this post


Link to post
Share on other sites

Ah, so it is two balanced pairs of bets? Within each pair, the balancing minimises the risk, but the fact that one bet in the set of four was free to place means that overall there is an inevitable win?

 

Sounds interesting, but the searching and the arithmetic must be tedious?

Share this post


Link to post
Share on other sites

 

 

Sounds interesting, but the searching and the arithmetic must be tedious?

 

Nail, head, hit.  That's why FixTheOdds was created (and others followed).

 

The problem is the time expended to make the gain.

Share this post


Link to post
Share on other sites

My plan was to do it until the end of last year and by that point probably stop due to being restricted on most of my accounts.

As it is, I'm not restricted so I'll carry on until I am - as MrMe said, the long term prospect is poor. The bit that makes it easier for me is I don't gamble so have no little voice at the back of my head saying back it but don't lay it. I spent 8 days in Vegas with work and the only gambling I did was $30 of someone else's money on roulette - it won on black and I walked away afterwards.

The tedious bit would be finding the offers and qualifiers but I pay £17.99 to the Profit Accumulator website (no affiliation or referral codes here) and they have an odds matching tool, stake calculator and very active forum where other people post up all the offers. I can find and do an offer in under 5 mins on my phone - with two females in the house I have lots of spare 5 mins waiting for them!

I'll carry on until such point the returns are minimal due to restrictions.

Edited by eldavo69

Share this post


Link to post
Share on other sites

The tedious bit would be finding the offers and qualifiers but I pay £17.99 to the Profit Accumulator website (no affiliation or referral codes here)

 

Strikes me that the best/most secure way of making money is to sort out some clever software and run one of those websites :coffee:

1 person likes this

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now
Sign in to follow this  
Followers 0