Matched Betting

[scottmccloud]

OddsMonkey and Profit Accumulator are the main ones I know about (both paid).

There's Bank of Bets too which I think is free.

 

[bonusmedia]

@bonusmedia I was wondering what had happened to you given you appear to have reduced your posting on the forum in recent times. I hope you are well.

I'm good thanks, just busy

Care to point us in the direction of these calculators?

I'm still a sceptic, I always assumed that free bets, or matched bets could be used, but never withdrawn, therefore all they are doing is offering an opportunity for you to profit from the winnings on those free bets? I did this during the euros, had a matched offer of £25, so put £25 in myself, came out with more than what I put in, but not much and couldn't withdrawn some.

There is a genuine opportunity to make some profit without risk, if you follow the logic and are very methodical, but there is an investment of time and effort involved and you need a reasonable 'float' to use. The method involves covering all outcomes at separate sites/bookies. You really need to do 4-5 hours reading around it to get started and for the calculators to make sense. If the MSE thread is still up then that's where I got to grips with it.

My business began as betting comparison and we worked on revenue share. As far as I was aware, matched bettors were not profitable for us or for bookies, but the average loss would be small. People who start out as matched bettors but then go on to have a tenner on the football now and then become profitable.

Playing devil's advocate, signing up for 20 or 30 betting sites and exchanges means a fair bit of exposure to marketing, and hours and hours spent betting makes the process familiar. Both make you more likely to bet in future.

On the plus side, understanding odds and looking for value are good skills to have, just as poker players learn to take calculated risks based on expected value. I think it has made me more rational about business risks.

If you're disciplined you can make some relatively quick money. If you make mistakes you will lose, or at least make less.

If you gamble then you will lose in the long run - but there's really nothing wrong with enjoying a bet, if you can afford to and you're responsible with it. There is value in the added excitement and the thrill of a win now and then. If you lose your tenner, the bookie more than likely paid out £9.50 of it to someone else - it's not always as mercenary as some make out.

Of course for addicts it can be devastating. It's like the difference between enjoying a drink and being an alcoholic. It is fairly simple to self-exclude - the important thing is to recognize a problem before it gets worse. If you know you have an addictive personality, better to just stay well clear.

 

[ian]

I wouldn't have the time to research this tbh, and I feel your point on learning the system is an important one. It would be quite easy to assume that 'free' credit is available to withdrawl, but most have this term in place, "Free bet stake is not included in any returns and is non-withdrawable." which I assume means you have to spread your bet across a number of bookies in the hope that the one you win on has decent odds.

 

[pberry4032]

So the free bet, you work on the hope it loses with the bookie who has the restrictions and therefore wins on the lay bet at the exchange. That way the free cash almost transfers across to the exchange where no withdrawal restrictions exist.

I looked at Profit Accumulator and others which seems to be the main one but settled on GoGoBet.

Most bookies now also pop up as soon as you've signed up a limit form so £xx per day/week maximum can be bet. It's simple to choose no limit though...


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[bonusmedia]

It's also possible to win repeatedly on an account with a large wagering requirement and have to go through the lot. It should still be profitable (though less so) but might well require a float of thousands and lots more bets to get there.

I suppose charging for the information is a legitimate business, but it shouldn't be made to look easy. There is a potential conflict of interest if they are also betting affiliates.

 

[scottmccloud]

This is probably the simplest explanation of matched bettng. http://www.savethestudent.org/make-money/what-is-matched-betting.html

 

[keys]

Just had a quick look at OddsMonkey. Their best return forecast is £1500 per month, but a realistic target is probably a lot less. It appears to be much effort for a scheme with a limited scope for profits, but it can be almost risk free. What is the order of potential losses?

The mechanics of a betting exchange are easier to grasp. They enable use of a comparible strategy, with different parameters. The risk/reward can be small or as much as you are willing to deposit, with relative safety provided by experience.

All forms of gambling are prone to hasty or emotional choices, leading to financial loss. It is a tough call to accept losses and stop, or continue with the original clear strategy and reasoning. Panic or despair are far more likely.