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Matched Betting



Lovefootball

New member
Sep 5, 2011
5
Hove
I like to have a bet on the football, but recently someone mentioned matched betting. I've looked on the net, but am a bit dubious. Can anyone give me some more advice?
 




moggy

Well-known member
Oct 15, 2003
5,050
southwick
Matched betting? Not heard of that
What he could mean is getting your bet matched which would have to be on one of the exchanges like betfair
 








Coleby1007

New member
Feb 28, 2011
608
Lancing
If you mean matched betting, in tems of your bets are being matched by other people like yourself 'acting' as the bookmaker.

Betfiar or Betdaq are not bookmakers as such. They allow you to back 'bet for' or lay 'bet against' a certain outcome of an event.

For example if you see Hills are 4/1 a horse in a race you fancy, you can go on betfair and put in that you want to back that horse for £10 at a price of 11/2 or better. When you put your bet into the system it looks at all of the corresponding 'lay bets' put in by other punters like yourself, however they want to 'lay' the horse in question. If there have been been other punters who want to lay the horse at that price you have yourself a bet. If not you will have to wait until you bet is 'MATCHED' ie theres someone in the world willing to lay the bet you want to have.

19 times out of 20 you'll get a better price on betfair that in the bookies, however on that 20th time you could be in for a nice little 'arb' But we'll get into that in another betting thread.

Also be careful as Betfair usually take a small percentage of your winnings (2.5%) so if the price is a marginal one it sometimes pays to bet at the bookies.
 


Lovefootball

New member
Sep 5, 2011
5
Hove
If you mean matched betting, in tems of your bets are being matched by other people like yourself 'acting' as the bookmaker.

Betfiar or Betdaq are not bookmakers as such. They allow you to back 'bet for' or lay 'bet against' a certain outcome of an event.

For example if you see Hills are 4/1 a horse in a race you fancy, you can go on betfair and put in that you want to back that horse for £10 at a price of 11/2 or better. When you put your bet into the system it looks at all of the corresponding 'lay bets' put in by other punters like yourself, however they want to 'lay' the horse in question. If there have been been other punters who want to lay the horse at that price you have yourself a bet. If not you will have to wait until you bet is 'MATCHED' ie theres someone in the world willing to lay the bet you want to have.

19 times out of 20 you'll get a better price on betfair that in the bookies, however on that 20th time you could be in for a nice little 'arb' But we'll get into that in another betting thread.

Also be careful as Betfair usually take a small percentage of your winnings (2.5%) so if the price is a marginal one it sometimes pays to bet at the bookies.


I mentioned it to a mate the other night and he said something similar to you but used betting on a football game as an example. I typed match betting into Google and couldn't believe how many pages it had. I looked at wikipedia because I needed a simple explanation and found that there are 3 ways of doing it. I need to read into it further. My mate swears by match betting, but he isn't good at explaining the pros and cons.
 


tasty_snacks

New member
Feb 20, 2011
4
Matched betting is a way to make free money from the bookies. It works thus;

1. Most bookies will give you a free bet when you sign up and make your first bet. For example, bet £50, get a £50 free bet.

2. So, you make your £50 first bet at Ladbrokes, say on Palace to beat Brighton 2-1 at 9/1.

3. You then bet against Palace beating Brighton 2-1 at 9/1, usually at Betfair, which allows you to back (be the punter) and lay (be the bookie) on bets.

4. Whatever happens now, you cannot lose. If Palace win 2-1, you'll collect £500 at ladbrokes and lose £500 at Betfair. If it's any other score you'll lose the £50 at Ladbrokes, but win £50 at Betfair. Whatever the result you'll have a net position of nil.

5. But now Ladbrokes will give you the free bet to use. Repeat steps 2 & 3. However by step 4 instead of being at net of nil, you'll have £50 in your pocket. This is because the £50 free bet has now been used and turned into real cash.

This is a very simplified version of how it works- in reality there are all sorts of considerations including the commission paid at Betfair and the exact conditions of the free bet given by the bookies. Some for example demand that the free bet is turned over several times, restict the stake payout or cite minimum odds. It's tricky, but if you've got time to dedicate to learning how to do it properly, are good with spreadsheets and have a few thousand quid liquidity it's possible to get up and running and make a few hundred quid a month over several hours a week.

There's a whole sub-forum dedicated to it at Martin Lewis' MSE site.
 




Weststander

Well-known member
NSC Patreon
Aug 25, 2011
63,407
Withdean area
A week into this PL season I finally started matched betting. Before that I’d made about 6 bets in my life, and have never been into casinos, fruit machines or gaming. On NSC I’d watched with interest from afar others chatting about matched betting, but I never got my arse into gear to give it a go.

It’s going very well, making a clear profit of £400 in September for example. Gained from a combination of new client offers, sequential lay acca’s and some other opportunities e.g. GP playing kids against Villa. My only mistakes were making two greedy mug punts on ManUre and Chelsea at the beginning of the season, thinking “that they always win at home, don’t they?”. £45 lost, lesson learned - stick to matched betting principles.

A thank you to the NSC matched bettors who sent me incredibly helpful pm’s in the last year, plus [MENTION=6886]Bozza[/MENTION]’s advice in various posts on the main board which have proved invaluable.

I ended up leaving the matched betting website with advertising links to NSC. They didn’t do anything wrong at all, but I personally really like another matched betting website.

If you have the time, a few hundred quid to start with, and the discipline not to gamble, it’s an interesting way to earn decent money.
 


Bozza

You can change this
Helpful Moderator
Jul 4, 2003
55,575
Back in Sussex
Details here for those interested. Take a read of the thread and see what you think: https://www.northstandchat.com/showthread.php?347091-Profit-squad-the-post-match-interview

It is NOT gambling. It is manipulation of bookie offers for guaranteed profit, or the chance of a profit. In most scenarios you should be risking <£1 to trigger the profit.

As I probably posted on there, I made around £15k in 6 months. To set expectations: I don't think this is achievable for most - I wasn't working so had quite a bit of time, and I also had a fair-sized lump of cash that I could put into play - working capital if you will.

That said, most people should be able to make £200 - £1000 a month, once you're up and running.

I used Profit Squad. You can get a £1 trial here: http://profitsquad.co.uk/201.html
 



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