Matched betting- the penny has finally dropped

Mrs_Sparkle

I finally understand it, after many hours of re-reading all the threads. Thank you to everyone who has pointed me in the direction of useful threads...and roll on pay day when I'm going to set aside £100 to dip my toe into the water. To anyone else struggling to understand it, please just keep on reading the threads- I promise they do eventually make sense. I'm just impatient to get started now (but it would be wrong to use my overdraft for this wouldn't it )

easypeasy_2

Well Done Mrs Sparkle for getting it !!! Erm ... I'm still waiting for the penny to drop but I know it's all whizzing around in there somewhere, LOL.

jessicamb

Mrs_Sparkle wrote:

I finally understand it, after many hours of re-reading all the threads. Thank you to everyone who has pointed me in the direction of useful threads...and roll on pay day when I'm going to set aside £100 to dip my toe into the water. To anyone else struggling to understand it, please just keep on reading the threads- I promise they do eventually make sense. I'm just impatient to get started now (but it would be wrong to use my overdraft for this wouldn't it )

:T :T :T :T :T :T

Well done Mrs S.

Its a fab way to make money without too much effort . Especially if its on foreign sports - I made £20 in my sleep last night :rotfl: .

Personally I do use my overdraft because for a quick cash turnaround I can generate more profit than the interest charge - but I do feel a bit guilty doing it .

See you on the other board.

Turtle

I look forward to the day this happens to me! I still don't understand some of the terms, or whats the difference between a bookies and a betting exchange and how you know who to use for what. Really want to have a go at this as I'm getting jealous of all the money in peoples signatures! If it could pay for holidays (or my car loan off if I'm being MSE)!

Mrs_Sparkle

Turtle wrote:

I look forward to the day this happens to me! I still don't understand some of the terms, or whats the difference between a bookies and a betting exchange and how you know who to use for what. Really want to have a go at this as I'm getting jealous of all the money in peoples signatures! If it could pay for holidays (or my car loan off if I'm being MSE)!

Just keep reading over and over again and it all falls into place. I can't wait to get started now. There is so much guidance for newbies on the MB threads you just have to follow everything they say. Keep reading- I promise it will click

Dan29

Turtle wrote:

I look forward to the day this happens to me! I still don't understand some of the terms, or whats the difference between a bookies and a betting exchange and how you know who to use for what. Really want to have a go at this as I'm getting jealous of all the money in peoples signatures! If it could pay for holidays (or my car loan off if I'm being MSE)!

Bookie = Coral, Ladbrokes, Tote etc. Betting exchange = Betfair. Here's an example, to extract the cash from a £10 free bet at the bookie Coral:

- Deposit £10 of your own money in Coral

- Bet £10 on something to happen (e.g. Italy v France - a Draw)

- Go to Betfair, a betting exchange where you act as the bookie

- TAKE A BET of £10 on the SAME thing to happen (Italy v France - a Draw)

- Either way, you get a guaranteed amount of money back, probably about £9.50 so you're 50p down at this point. But:

- Coral give you your free £10 bet

- Use it as above, getting another guaranteed £9.50 or so

- You're £9 up, plus any sign-up bonuses from Quidco etc

magic_pants

So you're nearly 30 grand in debt and you've taken the decision to start gambling? Some people are just beyond help!

Mrs_Sparkle

magic_pants wrote:

So you're nearly 30 grand in debt and you've taken the decision to start gambling? Some people are just beyond help!

Nope, it's matched betting- a very different ball game to gambling.

kathfisch

magic_pants wrote:

So you're nearly 30 grand in debt and you've taken the decision to start gambling? Some people are just beyond help!

I hope your joking! Matched betting is a risk free way of 'extracting' the sign up bonuses offered by bookies, it is not gambling.

kathfisch

And good for you Mrs Sparkle... its great when the penny drops isn't it?! :T

jessicamb

magic_pants wrote:

So you're nearly 30 grand in debt and you've taken the decision to start gambling? Some people are just beyond help!

Without wanting to start an argument matched betting is very different to gambling. There is a whole board devoted to it on here.

Gambling is risking money on an outcome happening
Matched betting ensures the same return regardless of the outcome.

Gambling is not moneysaving.