Anybody else "not getting" matched betting?

oliveoyl

don't go signing up to any bookies just to have a look. you could cost yourself money that way, as with some of them there are free bet codes you enter when you sign up.

it does take a few reads before it clicks. i read the guide several times over before i got it, i could see there was something in it, i just couldn't grasp it.

when you do decide to have a go, post in the newbie section - first asking about sign up's/codes, and then to get your choice checked over before you go placing any bets.

ViksB

I have been doing it for about 10 days and have made 107.34. Which I was impressed about, but you do need some cash to start with.
The way I finally got my head around it was as follows...
At the same time place two bets
Bet 1 is that Martin Lewis would win in a fight against Tony Blair (Bookies offering free bet)
Bet 2 is that Martin Lewis won't win in a fight against Tony Blair. (Betfair)
(not winning is different from losing as it is losing AND drawing)
You want to get odds that are as close as possible, preferably the Betfair odds should be lower but that very rarely happens.
So you place £20 of your own money on the first and whatever the spreadsheet says on the betfair one.
Whatever happans you will walk away with about £19.50. (Yes you lose 50p or more or less depending on the odds)
You then get your free bet and do the same
This time you walk away with £19.50 of the Bookies free bet so in total you have £19 extra money.
I have just read this and I don't think this helps at all.
Be very careful as if you make a mistake you will lose money.
I thought a free bet was SR (Stake Returned) when it was SNR (stake not returned) which meant that I messed up my calculations and only got 1.20 instead of £48. (Doh!!!)
If you don't get it, don't do it, but it is actually easy when you get your head around it.

Viks

Bunnyinthelights

I am SO glad that I wasn't the only NOT understanding any of that...Makes my brain hurt...

Good luck everyone, I'll be leaving this to my hubby!
Bunny

alba37

I really want to have a go too and hope to get my head around it soon! I have no idea about betting or even odds! I have skimmed the newbie thread, but nothing made sense! I know I have to read it a good few times though so haven't given up yet. Once I am a bit more sure of what I am doing, I'll come back and see if anyone else wants to partner up with me...

If it works on free bets, then I can't see how people can continue making money? Free bets must run out?

krayzechick

I still dont 'get' it =/

SO.....If you go through quidco and sign up to a bookies (getting say £10 cash back) and put a £10 bet on. If you make anything it'd be a bonus as the two counteract each other. At the same time put a £10 bet on through betfair for the opposite outcome of the bookies bet? Whatever happens in say a footie game you're dead cert to win because you've bet all possible outcomes?

Then with both sites you get a free bet. So you follow the same rules and are guarenteed a win and £££ in the wallet??

wishiwasarichgirl

alba37 wrote:

If it works on free bets, then I can't see how people can continue making money? Free bets must run out?

i've wondered that too, there must be a limited number of bookies offering free bets, once you've signed up to them and used your free bet surely you don't get any more

have read the thread about matched betting a few times, but it makes my head hurt halfway through, which makes me want a glass of wine (or 3) so all hope of understanding it goes out the window

Gemmzie

I've only recently got this, about a month ago and would say PLEASE please, do not go into it until you are sure, don't risk money that you can't afford to lose and ask questions in the newbie thread and do some example runs in the spreadsheets first to see how it would go

I'm so glad I did those things.

I'm not amazing at it but it's making enough extra for me

oops_a_daisy

krayzechick wrote:

I still dont 'get' it =/

SO.....If you go through quidco and sign up to a bookies (getting say £10 cash back) and put a £10 bet on. If you make anything it'd be a bonus as the two counteract each other. At the same time put a £10 bet on through betfair for the opposite outcome of the bookies bet? Whatever happens in say a footie game you're dead cert to win because you've bet all possible outcomes?

Then with both sites you get a free bet. So you follow the same rules and are guarenteed a win and £££ in the wallet??

1. yes if you sign up through Quidco ( or other cashback website ) you do get a sign up bonus this is extra to the free bet that the bookie offers
2. you place a bet on an outcome happening at the bookie and then 'lay' ( place another bet ) a bet at Betfair on that outcome NOT happening - this is different to the opposite happening. For example place a bet on a football match for team a to win then lay bet on the SAME team not to win ( this covers you for a lose or draw ) on your first bet you lose some money in commission ( which is why you look for close odds to minimise the loss ) then you get your free bet to place using the same principle of betting the free bet and 'laying' to cover all outcomes - you end up with most of your free bet money back at either the bookie or betfair depending on the outcome. It is very difficult to explain but keep looking at it and asking questions and it will 'click'

Good luck - OOPS

elantan

i can honestly say it isnt easy ...i have a wonderful person helping me out at the moment..i am still learning ...but if i can help i will ...it is worth doing but you need to be sure your doing it right ...good luck

pickle18

Just spent all night reading through everything and I just don't get it I feel so stupid! Am I right in thinking that at both betfair and bookfair odds need to be pretty close to each other - if so mine are always way different for everything I have looked at! Sorry if that question is ridiculous!