Firstly, I am not a newbie to gambling and as such, I know what matched betting is. However, my girlfriend has read online that students are doing it for a quick buck and she wants in!
I have no issue with this but what I am struggling to understand is how do you withdraw the money after the second bet? Don't most bookies make sure you bet through your free bet like 3 times or something before you can withdraw? Most of the matched betting guides I see, tell you to withdraw after the second bet has won.
IF anyone has used this system effectively, please explain and I'd be happy to find out more.
Follow for some laughs, bit of horse racing (among other sports) banter!!
You can eat your betting money but don't bet your eating money!
Most bookmakers have a free bet offer but some offer a bonus.
Typically for a free bet offer you place a qualifying bet to trigger the free bet. Any winnings accrued can be withdrawn after the free bet is settled.
For a free bonus there will be a wagering requirement.
The qualifying deposit will have to be wagered a certain number of times (usually once) to trigger the free bonus. The free bonus may then have to be wagered 3 times or more before any winnings can be withdrawn.
bet365 offer a 200 bonus for a 200 deposit but it all has to be wagered 3 times i.e. 1200 has to be bet before any winnings can be withdrawn
hope that makes things clearer.
http://forums.moneysavingexpert.com/for ... y.php?f=41
There is a lot of money to be made from matched betting but you need to set your stall out from the start, don't be greedy and read as much information about it as you can.
The bookies hate matched bettors so the more the merrier I say
Light Years Behind
Matched betting works by cancelling both out using a bet exchange like Betfair to extract the second free bet.
There's a very useful spreadsheet/calculator in this guide which makes it easy http://www.savethestudent.org/make-mone ... tting.html
You have linked to a very good and thorough explanation about matched betting. Nevertheless, the explanation (and the previous postings in this thread) are more concerned with bonus bagging, which is only a specific (and small) part of matched betting, since you can only do this once per bookie and/or offer.There's a very useful spreadsheet/calculator in this guide which makes it easy http://www.savethestudent.org/make-mone ... tting.html
Of course matched betting is also possible without the help of free bets, although the profits are smaller by an order of magnitude then. If opener (or his girlfriend) is interested in this "proper" matched betting (arbitraging), there are some general considerations which will make success more likely.
0. (This is a personal opinion.) Don't use arbitraging services. They usually cost quite a bit, and bookies aren't stupid: They will easily figure out if you bet in cases when there is a lot of "dodgy" betting coming in, and I guess your account will be closed pretty soon.
1. You need markets in which your odds change, ideally in a short period of time. Horse racing before the off is ideal, but other sports before kick-off (or similar) can work well, too.
2. You need reasonable liquidity in your exchange markets. It's no good finding an arb if you only get 2$ matched.
3. Forget about big leagues (PL and such) and normal markets (win-draw-win and the like). Matched betting is a niche sport.
4. The order of your actions should be: Find an arb - calculate all stakes - place back bet - place lay bet. Be very quick here! Always place the back bet before the lay bet, since, if the odds change, a possible change of odds at the bookie will usually be bigger than a possible change at the exchange.
5. If the odds at your lay market are moving rather fast: Calculate your arb with the second best odds available at the exchange and place it accordingly. This will help you get matched; if you get matched for better odds - aweseome. You want to avoid sitting in front of your screen, biting your nails and hoping that somebody matches your bet.
6. Use inoffensive stakes at your bookie's, i.e. whole numbers or maybe even whole tens. Also, don't place max bets. Try to fly under the radar as long as possible.
> If you are going to get involved in matched betting and are in it for long
> term profits (as opposed to just doing a smash and grab on new account
> offers) then it is best to try and avoid making withdrawals or busting out
> after your first few bets. Obviously the bigger the float you have the
> easier this is.
> Good luck!
thanks for the advice
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