Matched betting question...

Rich33

Around 2 years ago I started matched betting to take advantage of free bets. I made over £1000.00 doing this... then I ran out of free bets. So I opened accounts in my girlfriends name and I did all the bets at her house using her laptop and we made another £600.00 which paid for a holiday

I now live away from home and I want to try and do this in my Dads name, obviously with his permission as he wanted me to do this when I lived at home. Can anyone see there being a problem in doing this. I have a new laptop so they can't pick up the same IP. I can use one of his cards and just put my new address as his address. I have nothing linking me to my new address on my credit files so I think I should be OK?

SailorSam

You'll probably get some more answers Rich if you ask again in the MB thread.

podperson

SailorSam wrote: »

You'll probably get some more answers Rich if you ask again in the MB thread.

Actually, probably not as they are quite strict on not 'supporting' multiple accounts on there.
I'm not going to advise either way - just bear in mind that if they realise what you're doing they will close/suspend your account. Also if they ask for address verification, ID to be uploaded etc is your dad prepared or able to provide this? I've heard that this is also much more likely if the name and address don't match up automatically on their checks which it sounds like they won't do.

TamiBolton

I think I may have figured out a way to keep the matched betting thing going. OK I looked into this a couple years ago and never got round to actually doing it so i can't vouch for it in practise.

Here is the theory:

Instead of using free bets is to sign up (say you) as an affiliate at 3 different bookies that offer 25% affiliate commission on customer losses.

Then you get someone else (maybe your dad) to sign up as a customer using your affiliate links.

So essentially you use a free bet calculator and do the usual betting on each outcome however 2 of your losing bets would now get 25% back as an affiliate commission and you beat the spread that way. Essentially if the fave wins you make a bit, if the underdog wins you make a lot.

As I said never actually did it but i did do the maths and figured out the theory. the problems:

You need some capital and can only do it once a month per 3 bookies
You need to check bookies t&c to see how their affiliate systems operate and this is the most important, you must check to see that they reset negative balances every month.

Good luck

geordie_joe

TamiBolton wrote: »

Instead of using free bets is to sign up (say you) as an affiliate at 3 different bookies that offer 25% affiliate commission on customer losses.

Then you get someone else (maybe your dad) to sign up as a customer using your affiliate links.

So essentially you use a free bet calculator and do the usual betting on each outcome however 2 of your losing bets would now get 25% back as an affiliate commission

Am I being think here, or are you saying that you get your dad to sign up to bookies so he can lose his money so you get 25% of what he loses?

Why not get him to pretend to sign up and give you 25% of the money he pretends to bet with. That way he gets to keep 75% of his money and you get 25% instead of you sharing it with the bookie 75%/25% and dad getting nothing.

podperson

geordie_joe wrote: »

Am I being think here, or are you saying that you get your dad to sign up to bookies so he can lose his money so you get 25% of what he loses?

Why not get him to pretend to sign up and give you 25% of the money he pretends to bet with. That way he gets to keep 75% of his money and you get 25% instead of you sharing it with the bookie 75%/25% and dad getting nothing.

I'm assuming that the dad will have matched the bet at the exchange so won't be losing any money on it (or at least only a pound or two). Do you understand how matched betting works? Instead of getting the profit from the free bet he's saying the profit will come from the affilate percentage.
I did think a lot of bookies were cutting down on these schemes now though?

geordie_joe

podperson wrote: »

I'm assuming that the dad will have matched the bet at the exchange so won't be losing any money on it (or at least only a pound or two).

Well if the dad matched the bet then he would probably be a member of the bookies anyway, so no affiliate commission.

The op didn't mention getting dad into matched betting, so it probably never occurred to him. If it had he would have come back and mentioned it after I posted, but he didn't. He was here long enough after I posted, at least 4 hours spent answering just about every new post.

podperson wrote: »

Do you understand how matched betting works?

Yes.

podperson

geordie_joe wrote: »

Well if the dad matched the bet then he would probably be a member of the bookies anyway, so no affiliate commission.

The op didn't mention getting dad into matched betting, so it probably never occurred to him. If it had he would have come back and mentioned it after I posted, but he didn't. He was here long enough after I posted, at least 4 hours spent answering just about every new post.



Yes.

Lol, didn't mean it to be taken the wrong way, was just how I read the post (and seemed the only way to make sense in terms of making money from it). I do matched betting and the exchange stays the same but am constantly signing up with new bookies. Though I do see your point as if the OP was signing his dad up as a new member anyway then he might as well just take the free bet and make a profit that way. Perhaps they will come back later and clarify for us

TamiBolton

Yeah the other person was to sign up as an affiliate so not to actually do it for the matched bet but rather for the affiliate commissions. Then the son (or whoever) would sign up using dad's affiliate link and place bets so that the dad gets affiliate commissions on the losses.

Obviously the two people would have to work together but say you place 3 bets using a matched betting calculator 2 of the 3 would be losers but because the dad is an affiliate he would gain 25% of the loss from one bet at bookie A 25% of the loss from bookie B and win from the winning bookie. So with 25% of the losses (x2) from 2 bets paid back to the dad via affiliate commissions you can fairly easily beat the spread while covering all of the outcomes.

Cashflow would be a pain because the affiliate comms would need to be paid out before that money can be recycled.

As stated earlier though I have no idea how the bookies may have clamped down on doing something like this. I really haven't looked into it for years but when i did the maths back then it worked on paper, so if you want to you can play around with the concept yourself. I suspect it would be easy enough for the bookies to pick it up simply because they would have an affiliate with a single active member (who only makes one large bet a month), any more than one and your entire system would be messed up. Also very important to ensure that each bookie's affiliate program resets negative balances each month otherwise it would not work.

It sounds a hassle but to be honest i got so sick of matched betting (time consuming) that I thought this was the easier way albeit it requires a bit of your own cash. My theory was place larger bets and only have to do a few a month, then cash out the affiliate commissions. So if you wanted to do it 3 times a month you just log on place your bets at 9 different bookies (could even be the same game) and you are done for the month. Higher risk, less effort more reward as you build your bankroll and has longevity - CANT STRESS THIS ENOUGH - IN THEORY. Like I said never actually got around to doing it

Essentially you would need to use your own funds rather than free bets but the idea came to me from doing matched betting and I was using a 3 way matched betting calculator. Hope that helps.

podperson

I get the principle but I'm not really understanding your method - are you saying place bets at 3 different bookies on the different outcomes to a game and then your losses at 2 of them would balance with your win at the other and your affliate gains? Surely it would be easier to lay against your bet at the exchange, choose high odds so your chances of losing at the bookies are higher, but then either way there's no risk involved?

TamiBolton

Honestly I am so out of this it's hard to get a full grasp, but you may be onto something there that could be better.

I will give an example of how I worked it out:
Fulham (4)
Draw (3.75)
Liverpool (2.1)

So say you are looking to hit £1000 on those odds.

Fullham win you would bet £250
Draw - you would bet £267
Liverpool win you would bet £476

So no matter what the outcome, the winner will return £1000

Cost of placing those bets £250+£267+£476 = £993

(Beaten the spread already using this example)

Fulham wins you take £267 + £476 (these would be the losing bets) *25% = £185 (Affiliate comms)
Draw - £250 + £476 (these would be the losing bets)
*25% = £181 (Affiliate comms)
Liverpool win - £267+ £250 (these would be the losing bets)
*25% = £129 (Affiliate comms)

As you can see all return a profit BUT if the underdog wins it provides the highest margins.

Please forgive if not 100% accurate (should be) but trying to do other things at the same time. think you get the idea though.