converting sim credit into cash or goods.

grumbler

stampede wrote: »

Getpoundsback are doing cashback on this now.
I cashed in £30 no problem.

Q.
Why are the payout so low?
A.
GetPoundsBack only take a small slice - around 6%. The rest goes to the payment service provider and the Network Operators to cover bad debt, network costs and profit margins.

Interestingly, I cannot find any information about how low the payouts actually are.

stampede

It's about £6 cashback per £10 credit depending on network

Here
http://www.getpoundsback.co.uk/stores.php?catID=134&catST=134

catfish50

darude wrote: »

This is what I used my credit on: http://www.text-n-talk.com
Its like moving my PAYG credit to this one where I could use any other phones to make a call. You can topup from £1.50 - brilliant!!

I don't get it. How do they make a profit if you pay £1.50 and get £2.50 credit?

dutchsmurf

Blimey. Thanks for that.

stampede

grumbler wrote: »

Matched Betting.
It does involve bookies, but doesn't involve gambling.

How does the matched betting work, if you don't mind me asking?
I tried reading it, & I'm not a gambler, so it doesn't make much sense to me.

grumbler

In two words:
Nadal v Federer
odds 9/10 v 9/10
You back Nadal to win at Betnow using £10 of your PAYG credit.
You back Federer to win at some other bookie with £10 of your money

Nadal wins: you lose at other bookie and get £19 at Betnow
Federer wins: you lose at Betnow and get £19 at other bookie.

As a result, you converted £10 of your money and £10 of credit into £19 of your money.

In practice the odds at Betnow are worse and you are unlikely to make more than £7-8 from £10 credit.

stampede

grumbler wrote: »

In two words:
Nadal v Federer
odds 9/10 v 9/10
You back Nadal to win at Betnow using £10 of your PAYG credit.
You back Federer to win at some other bookie with £10 of your money

Nadal wins: you lose at other bookie and get £19 at Betnow
Federer wins: you lose at Betnow and get £19 at other bookie.

As a result, you converted £10 of your money and £10 of credit into £19 of your money.

In practice the odds at Betnow are worse and you are unlikely to make more than £7-8 from £10 credit.

I've had a quick look and it does make more sense to me now, but I thinkthe betting thing is not for me as I don't have the time to do it all these days with 2 young kids & all that.
Thanks for your answer though.
I think I'll stick to the cashback route as it's quick & simple like me.

shirlsky

I have a couple of SIM with credit on them and I have use that cashback site - I am new to Getpoundsback. It has been over 24 hours does it normally take this long to track or show in your transactions? Used to things tracking within hours of the transaction with QuidCo or TCB

stampede

shirlsky wrote: »

I have a couple of SIM with credit on them and I have use that cashback site - I am new to Getpoundsback. It has been over 24 hours does it normally take this long to track or show in your transactions? Used to things tracking within hours of the transaction with QuidCo or TCB

I don't know if this helps but mine came through as tracked the next day.

shirlsky

Thanks. Neil from Getpoundsback emailed me that I had a digit missing from my mobile number. So all tracked now. Great customer service!