Buffy, LouJ and gang's road to ritches (or just for a bit extra dosh)

Buffythedebtslayer

right so i have to find a bet for jaxx/befair/ and then I will be ok.

I am going to do some looking but I will not make a decision till tomorrow.

xxxx

southernscouser

Buffythedebtslayer wrote: »

Stupid Question time

The idea of matched betting is to use bookies that have free bet offers, back and lay the same out come and collect the free money.

is that right?

You back with the bookie and lay with a bet exchange like Betfair.

In the first place with some offers I have read you must place a bet first to get the free bet

so I would
1. Back and Lay an event to quailify for a free bet
2. Back and lay an event and then some how end up with the free bet money. that is the bit I don't get. How do I end up with the free bet money?

you see I have a feeling this is the wrong place to ask this, apologies if it is. but i have typed it all now so here goes nothing.

thanks

This is the hardest bit to grasp, but when you do it's easy peasy.

OK, your method is correct. Try thinking of it like this. You go to Tesco (ie a Bookie), to purchase a can of baked beans for £25 (ie a bet on say Arsenal to beat Chelsea). By purchasing that tin of beans 'Tesco' give you another tin of beans worth £25 for nothing.

Now, you don't want either tin of beans, so you pop off to a car boot sale (ie Betfair - sorry was best I could think of :rotfl:) to sell them both (laying off your bets at Betfair).

Luckily for you, someone is prepared to buy your first tin of beans for £25. This means you now have made your money back, BUT, you still have the free tin of beans worth £25.

As it's your lucky day at the boot sale, someone else is willing to buy that second tin of beans, again for £25. All of a sudden, you're £25 in profit.

Does that make anymore sense? :undecided

southernscouser

Buffythedebtslayer wrote: »

right so i have to find a bet for jaxx/befair/ and then I will be ok.

I am going to do some looking but I will not make a decision till tomorrow.

xxxx

Be careful with Jaxx. I'm sure I read it was now definately a SNR, where as before it was advertised as SNR but paid out as SR. Will mean you ideally needs odds of 7.0 minimum which will need £130 odd in Betfair.

LouiseJ

southernscouser wrote: »

Be careful with Jaxx. I'm sure I read it was now definately a SNR, where as before it was advertised as SNR but paid out as SR. Will mean you ideally needs odds of 7.0 minimum which will need £130 odd in Betfair.

Yes I was wondering about that too, I have built up £90 in betfair by doing a couple of qualifying bets (one which was a complete waste of time):rolleyes:

I might do a couple more qualifying bets to build this amount up if I can before I lay so much of a liability. I started off with £60 of my own money in Betfair.

southernscouser

LouiseJ wrote: »

Yes I was wondering about that too, I have built up £90 in betfair by doing a couple of qualifying bets (one which was a complete waste of time):rolleyes:

I might do a couple more qualifying bets to build this amount up if I can before I lay so much of a liability. I started off with £60 of my own money in Betfair.

The problem with that is if you win at the bookies you will empty out Betfair.

How many bookies have you got on the go at the moment?

whatatwit

Jaxx is now SNR

As you say SS, you end up needing a big float in Betfair to cover the bigger odds.

LouiseJ

only Skybet which was a mistake:o Jaxx which I have just placed a qualifying bet and I won at Betfair.

Thats it so far.

Last year I did Coral and Paddy power.

southernscouser

LouiseJ wrote: »

only Skybet which was a mistake:o Jaxx which I have just placed a qualifying bet and I won at Betfair.

Thats it so far.

Last year I did Coral and Paddy power.

Take your time with them. The more you have going on in your head the more chance of mistakes.

Also, if I could 'have my time again', I'd try and maximise each offer as much as possible. I got really impatient (still do) and take crap odds for a quick turnaround. The problem with this is you end up hundreds of £'s less than what you could make over time.

Also, make sure you research that you are getting the best offers, and have the Betfair float to cover them. I did BetFred far too early without enough money in Betfair and got about £30 back from a £200 SNR! :eek: :doh:

Don't know if you've seen it but this site/page is good for seeing what the best offers have been.

http://spreadsheets.google.com/ccc?key=pdH8mnFOONhkOSjE_tPHzKA&hl=en

And this is a good site that will show you some of the best matches for each bookie. Best for SR's and qualifiers.

http://87.106.102.151/bet/

spud30

I've decided I must be fick....you might as well all be talking Swahili or summink coz I havent a clue what any of you are on about.

Maybe I'm just not cut out for this MB mullarkey.

Buffythedebtslayer

southernscouser wrote: »

This is the hardest bit to grasp, but when you do it's easy peasy.

OK, your method is correct. Try thinking of it like this. You go to Tesco (ie a Bookie), to purchase a can of baked beans for £25 (ie a bet on say Arsenal to beat Chelsea). By purchasing that tin of beans 'Tesco' give you another tin of beans worth £25 for nothing.

Now, you don't want either tin of beans, so you pop off to a car boot sale (ie Betfair - sorry was best I could think of :rotfl:) to sell them both (laying off your bets at Betfair).

Luckily for you, someone is prepared to buy your first tin of beans for £25. This means you now have made your money back, BUT, you still have the free tin of beans worth £25.

As it's your lucky day at the boot sale, someone else is willing to buy that second tin of beans, again for £25. All of a sudden, you're £25 in profit.

Does that make anymore sense? :undecided

I get that it happens. and the beans help - I get shopping, I just must be having some mental block about the free bit.

I will reread tomorrow. thank you so much bothering SS xxxxxx:beer:xxxxx