Matched Betting

southernscouser

bluekp wrote:

ss - you are doing a great job here.

I am willing to help with any questions anyone has as well. As ss has said once you've got your head around it you'll wonder what all the fuss was!

Thanks bluekp.

You might want to warn the others on the gambling loopholes board aswell! I'm on a recruiting campaign!

bluekp

All done ss - everyone is standing by their posts....

postingalwaysposting

ss i think i have it :T now how do you open accounts etc etc? and can you back bets online and not got to a bookies? also how many pennies do you need to start up and we talking £10's or £100's?

southernscouser

postingalwaysposting wrote:

ss i think i have it :T now how do you open accounts etc etc? and can you back bets online and not got to a bookies? also how many pennies do you need to start up and we talking £10's or £100's?

:j

OK, the best place to start is Quidco coz you get extra money from them for opening accounts aswell as free bets.

Ideally if you can spare £100 for a week it will make things easier but it can be done for less if needs be.

However, please don't place any bets until you are 110% sure of what you are doing! Always check your first few bets on the newbie thread before you do.

Yeah I do all mine online although further down the line you might want to open phone accounts but I'm not even at that stage and won't be for a while.

bluekp

postingalwaysposting - you can open a Coral account through Quidco for around £25 cashback and will get a free £10 bet. Or you can use www.coral.co.uk/player for a £50 free bet but no cashback.

Bear in mind though that the more you are going to bet at the bookie, the more you will need to match it at Betfair.

postingalwaysposting

thanks you too, i am going to write it all down then do a test run on paper then open accounts and do the real thing i will go to the newbie thread before i do anything

southernscouser

postingalwaysposting wrote:

thanks you too, i am going to write it all down then do a test run on paper then open accounts and do the real thing i will go to the newbie thread before i do anything

Good on you. My advice would be to take your time. I made silly mistakes by panicking that odds were going to change, that sort of thing. Take your time. Double check everything and you will be laughing all the way to the bank!

DontDoDebtKids

southernscouser wrote:

I've got to work tomorrow so I won't be able to.

My advice would be to do some pretend runs first. There are loads of offers out there so there is no need to rush things. Do dummy runs this weekend then if you get things right do it for real next weekend!

I'll be on MSE at the weekend if you lot want to run things past me.

I'll be.....you guessed it, placing lots of bets!

lotto-dreamer

I feel very stupid but I think I understand the basic concept i.e. by acting as both a bookie (laying a bet) and a punter (staking a bet) and choosing similar odds and same outcome you "win" in either case (- the maths side of it still needs a bit of work...)

What I am finding very confusing - having looked at the Betfair site now - is understanding the following:

(1) Do all sites (Betfair, Coral, Blue Square etc) give you a choice of acting as either bookie or punter? Or are some sites only for bookies and others only for punters?

(2) I assume if you choose to lay a bet with Betfair you then would have to go to another site to "stake" a bet (but choosing exactly same outcome though and as close as possible to the same odds)

I am finding it hard familiarising myself with the betting sites themselves....when you talk of bookmakers, Betfair, Coral etc I assume they are one and the same thing and bookmakers is the generic term???

southernscouser

lotto-dreamer wrote:

I feel very stupid but I think I understand the basic concept i.e. by acting as both a bookie (laying a bet) and a punter (staking a bet) and choosing similar odds and same outcome you "win" in either case (- the maths side of it still needs a bit of work...)

What I am finding very confusing - having looked at the Betfair site now - is understanding the following:

(1) Do all sites (Betfair, Coral, Blue Square etc) give you a choice of acting as either bookie or punter? Or are some sites only for bookies and others only for punters?

(2) I assume if you choose to lay a bet with Betfair you then would have to go to another site to "stake" a bet (but choosing exactly same outcome though and as close as possible to the same odds)

I am finding it hard familiarising myself with the betting sites themselves....when you talk of bookmakers, Betfair, Coral etc I assume they are one and the same thing and bookmakers is the generic term???

You've got a really good grasp of it. :T

Betfair are a 'betting exchange' which means you can back and lay but for matched betting purposes you only want to use them to lay bets.

Other bookies, such as Coral, Blue Square only allow you to back bets!

Regarding question 2, yeah you look for odds as close as possible from your chosen bookie and betfair then you do the bets. When you say exactly the same outcome your right in saying that but as long as you 'lay' on that outcome at Betfair, not 'back'!