Welcome to my blog. You may have heard of Matched Betting and want to know more, so I have decided to write about my experiences. I am diarising my activities on an almost daily basis right from when I first set up my account. Please have a read and see if this is for you or not!
Please note that I started out with £35 of my own money and signed up to the Profit Accumulator Platinum service - I strongly recommend this if you want to try Matched Betting yourself. I spend around half an hour a day placing the bets etc.
Total Winnings £275.86
There was a very good offer today (two in fact) on the Bayern Munch vs Arsenal Champions League game.
Bet365 offered a free inplay bet if you placed a pre-match bet, this was for existing customers so as I already have an account with them I availed myself of it.
To qualify all you had to do was place a bet on the match before it kicked off and they gave a risk-free bet worth the same amount (up to £50) as an in-play bet on the same game.
Now it's not a free bet as such, but a risk-free bet, so you needed to have the cash in your account to bet with, this meant I could only go up to £25 as my funds are tied up elsewhere.
Still I was able to make this risk-free and guarantee a profit by going for Bayern to win in the pre-match bet and then stake the risk-free bet on Arsenal to win or draw on the inplay. Had Arsenal won I would have made £22 but Bayern winning still nets a profit of £10 so not to be sniffed at for 5 minutes effort.
With hindsight the most lucrative bets would have been for both teams not to score in the first half and then inplay both teams to score in the first half, that would have seen a profit of £75 but hindsight is a wonderful thing! To be honest I didn't think Arsenal would even score.
I also opened an account with Bet on Brazil as they were giving new customers 10/1 on Bayern to win (max stake a fiver) so I now have a free bet with them of £50 to place. I've not counted this in my running total as it isn't cash yet, but I will be able to get most of that back as cash by laying it off.
The above wasn't risk free as obviously Munich might not have won but I thought it was pretty much nailed on.
Total Winnings £265.86
I'm starting to run out of good sign up offers but the Leo Vegas one seemed quite good.
They give you double odds on your first two £5 bets and so by doing this I was able to place a bet on a horse at much better odds, so guaranteeing a good profit.
In total I banked £8.05 from this, just wish they would allow larger stakes!
Total Winnings £257.81
Well it's been a while coming but £14.76 banked today with a free bet from Dafabet - total now over £250.
This was a free £30 bet that they give if your first bet loses (to the same value) so the profit isn't great considering the size of free bet but it all adds up.
Looking for my next free bet now, hopefully get something on today or tomorrow.
Total Winnings £243.05
Sorry for the enforced absense, but remember rule 1 is not to spend your winnings and I broke that rule due to an expensive Christmas!
This has set me back as I haven't had a bet for over 2 weeks so January is going to be a slim month, but I have now managed to scrape together enough cash to place some more bets. I have a £30 bet on today that will either see some profit or mean I get a £30 free bet if it loses, will report back tomorrow!
Total Winnings £243.05
Happy New Year and sorry for the quiet last few days.
I have fallen into one of the major traps for matched bettors, in that due to a rather expensive Christmas, I have had to dip into my winnings. I really, strongly recommend trying to do all you can to avoid doing this as it will slow down progress quite a bit, but I had no other choice in my case.
So since the start of the year I have only had two bets placed, both were extra free bets given by existing accounts, both worth £10, one from William Hill and the other 888Bet.
I banked £7.95 from the 888Bet one and another £6.86 from the William Hill bet. My bank is now small though so I probably won't be placing many more bets until I can repay the money into my bank, probably another 10 days or so, January will be a lean month I am afraid!
I will try to keep this blog going though, even if it is only once a week or so for a while.
Total Winnings £228.24
Not much to report as been busy over the Christmas period but just one more matched bet to report, a profit of £7.95 - I won't have chance to do much more until the New Year now, so Happy New Year!
Total Winnings £219.29
Completed the offer with Unibet today - this one is a little different as they only give you the free bet if your first bet loses.
The maths behind these is a bit more complicated but the Profit Accumulator website gives you full details and calculators to help work it out. In my case I lost the first bet, so got the freebie and then won twice with the bookie so I had to keep rolling over the winnings. This meant a profit for this offer of £19 which isn't great for a free £30 bet but it all adds up!
Total Winnings £200.29
I've had a few days enforced rest as my main funds were with Betsafe (around £160) and so I haven't been able to do much betting. Betsafe wanted to do a load of security checks as well and that has taken a few days - funny they never seem to do these when you try to deposit funds with them!
I did try to get the money out by laying some of it on a bet that would have lost me a couple of quid, but this bet won at the bookies, tying up even more of my bank! However, this meant I got the £10 refund from Smarkets as part of their promo offer, so at last we are through the £200 barrier!
Total Winnings £192.49
I know yesterday was the shortest day of the year, but today has been a long hard slog for me what with Christmas preparations etc so I will be brief.
Just a small win today adding £6.85 to the profit total, getting tantalisingly close to that £192.49 marker! I will do a full update tomorrow.
Total Winnings £185.64
Another day, another booker joined, this time Betsafe.
These guys give a free £20 bet if you stake £10 at odds of 1.8 or higher, I placed the qualifying bet and broke even.
Free bet was duly placed and earned me a nice little £17.20. A slight annoyance was that the bet won with the bookie at odds of 6.06 so the winnings of £106 are sat with them and they want ID etc from me before I can withdraw it! So that means more delays.
This is actually a common thing and legal requirement, depending on how the bookie inteprets money laundering laws. I've sent them what they've asked for (copy of bank statement, credit card etc) and hope they get it done quickly, will report back!
A nice touch was 888Bet have given me another free bet as they think I must be upset as my first bet with them (at treble odds) lost - I have to place a £5 bet to get a £10 freebie, so the qualifying bet is placed with them for tomorrow.
Total Winnings £167.84
Joined 888Bet today - they give triple odds on your first bet, up to £10 staked - this means you can get a huge arbitrage that means you are guaranteed to win.
I bet on a fairly obscure Romanian football match to be a draw, odds were 4.4 - laid it off with Betfair at 4.9 and overlaid it for maximum profit if it wasn't a draw. The result wasn't a draw so another £11 banked.
Closing in on that £200 target now, wonder if I can get to £300 by the end of the month?
Total Winnings £156.84
I've been away for the weekend so not much activity to report, just one bet that netted a profit of £7.84 taking me over the £150 mark. I am struggling with cash flow at the moment as well, pay day is 3 days away! I am moving funds around so might be able to place another bet soon, but if not it won't be until Thursday this week.
My money is mainly tied up with Betfair currently, over £130 with them, another £30 odd with Smarkets and similar with Betstars, I've asked for this to be withdrawn.
Tip: Try to keep some spare cash if you do have cashflow issues, even just £10 can be helpful.
Total Winnings £149.01
Another good day - I had a £25 free bet that netted me £22 and a £10 free bet netting £8 - so total profit today is a nice round £30. Total profit is now smashed through the £100 barrier at £149.01!
Now this may not seem very good, but bear in mind my initial bank was only around £30 you can see I have nearly quadrupled my money in less than 3 weeks, with a time investment of about 20 minutes per day.
You can do a lot better than me if you can put in a bit more cash at the start as you can then go for the bigger bookmaker offers, ie some of them give £50 free bets whilst I have been mainly playing with just £10 bets.
Profit Accumulator give a list of all the bookies offers when you sign up to their service, it really is a bargain!
Total Winnings £105.01
No bets on today but I've signed up and placed qualifying bets with Betstars and Smarkets.
Smarkets is an exchange where you lay a bet off so I placed the qualifying bet at Betstars and laid it with Smarkets, so in theory I will get two benefits from this bet if it wins with Betstars. It's at odds of 3.0 so it probably won't but the Smarkets deal is they refund up to £10 if you lose and this is carried forward until you do eventually lose, so I can repeat this with any other bookies I sign up with.
Total Winnings £105.01
Used my final two free bets with Bet Victor today, netting another £16 and closing in on the magic £100 mark!
I've realised now that the key to making money is to try to be a step ahead of the game, so I have now opened another account this time with Smarkets to get another free bet. I am aiming to open a new account every day whilst there are free bets to be had. This should see me speed up my earnings.
NOTE - I've spotted an error in my blog when re-reading as I had two entries for the previous day, so the total winnings is incorrect. I've now corrected this so the blog may read a little strangely!
Total Winnings £73.01
Signed up with Bet Victor today, they give 3 x £10 bets free if you bet a £10 at odds over 2.0
It's getting almost second nature doing these now, I lost 75p with the qualifying bet and then won £9 with the first free bet, I will place the other two free bets tomorrow.
Total Winnings £84.76
My biggest win today from a single bet of £20.90 from a £30 free bet.
This was with 188Bet and it's worth noting the way they work is a bit more tricky to work out! They give you a free £30 bet once you deposit and bet £10.
They credited me my free bet as expected but it isn't simple to work out how to use it - you have to place a bet using the £30 as a single bet and that is then automatically taken from your funds even if you have more available.
Because this was quite a large free bet I didn't have enough funds with the exchange yet to maximise the returns, so I only made just over £20 when it could have been nearer £30 - still it's my best single win so far and my exchange funds are now around the £100 mark.
Total Winnings £63.86
Opened an account with 188bet today, they also give 3 x £10 bets free when you bet £10 at odds over 2.0 this time.
With these guys you have to send an email to get the free bets, so I expect this might take a day or two - qualifying bet lost 74 pence.
Total Winnings £62.60
Got the Betfred free bets today, so played through those, 3 at £10 each.
No mistakes made this time which is a result and shows practise makes perfect!
Total profit was £9.50, £8 and finally £8 - total profit of £25.50 so probably my best day to date!
Total Winnings £37.10
Didn't get time to do a lot today, just a qualifying bet as I opened a new account with Betfred.
I actually made a small profit of 50p on this bet as the spread was so good.
The main problem with this bookie is they take 2 days to credit the free bets, so probably won't get chance to do anything tomorrow but then will have £30 worth of free bets to go at.
Tip: Try to plan a few days ahead so you don't have any inactive days.
Total Winnings £36.60
No bets today as my cash is now tied up with Betfair and I am waiting for withdrawals from William Hill. This is another problem you may encounter when you start Matched Betting, it's not going to cost anything but it will slow you down.
I only started with a small bank and cannot afford to top it up so need to wait until tomorrow when hopefully some of my funds will be back in my bank - there's over £60 in my Betfair account which is going to stay there as my lay bets will always be with them, for now at least.
If you can afford to top-up your bank then this won't affect you.
Good day today as I had a total of 4 bets on and all placed without any mistakes!
The qualifying bet lost 50p but then all the qualifying fiver bets show profit, £4.75, £3.50 and finally £3.20. So total profit for the day is £10.95.
Didn't get much time to do a lot today, but William Hill must think I am a bit of a mug (probably right) and have emailed me another special offer. If I place a £10 bet within 7 days they will give me 3 x £5 bets free - so I have duly placed a qualifying bet that will see me lose 40 or 50p depending how it goes. I then aim to place the 3 free bets tomorrow.
What a nightmare, two mistakes made costing me money! I won't go into full details but just give enough information so hopefully anyone reading this won't make the same mistakes. They say you learn from your mistakes, well I am certainly learning!
The qualifying bet I placed with William Hill to get the free bets was done correctly, but I didn't spot that the lay bet wasn't fully matched.
This is a slightly difficult concept to grasp if you aren't used to laying bets - when you use the exchanges like Bet Fair you aren't betting against a bookie, but against other punters, ie those who are betting for a certain outcome.
So when you lay a bet off you need to check that there are sufficient funds backing the result to cover you if you win. I didn't do this, so only a portion of my lay bet was covered. This meant I only won £2.10 versus the loss of £10 that I lost on the qualifying bet. So a net loss of £7.90
You can easily check if there are enough funds to cover the bet when you place it but I wasn't paying attention, something I need to be careful of again in future. Had I don't it right my loss would have been under £1 which is fine as I am going to get £30 in free bets.
Anyway, you live and learn and I now had the free bets to go at to recoup my losses.
I then made another mistake - this actually happened yesterday evening but I've put it as a separate blog entry otherwise it would be a massive one! I place the free bet on the wrong horse!
This was because the odds shown on the Profit Accumulator odds matching tool were slightly different, they had changed on the William Hill site and there were two horses shown on the tool in the same race. So my tiny brain got confused!
So I had used two of the free £10 bets up on one event, meaning a wasted bet. I still made a profit this time as I didn't mess anything else up, profit of £6.50 which isn't bad if I'd only used one of the bets up!
Still relying on the final free bet to get me back into profit for this offer though. I have the final bet on today so will report back once that's done with a total figure for the day/week.
This goes on to illustrate that Matched Betting does have its pitfalls but if you learn from your/my mistakes it can be profitable.
The final free bet from William Hill went on a football match - 12 O'clock kick off sees a draw between Vozdovac v Crvena Zvezda at odds of 4.5 with the lay bet at 4.3 so I laid £8 with Betfair against the free £10 bet with William Hill.
The match was not a draw so the free bet was forfeit but the profit of £8 banked with the exchange, so a nice profit to finish with.
This means my total result with William Hills is loss of £7.90 due to my error on the qualifying bet, then profit of £6.50 and £8 so overall profit of £6.60 which is poor considering the free bets but that's down to my mistakes.
I placed the £20 fee bet with Stan James on another horse race, the 13:45 at Wetherby. Now, I live not far from there so I was hopeful the weather was good enough for it not to be called off!
Using the Profit Accumulator site I found a bet with reasonable odds that would guarantee me a profit of around £12 regardless of the outcome, so I put the bet on at Stan James with odds of 5.0 (4-1) and laid the bet with Betfair at 5.5. The returns could have been higher but it would have meant waiting a day or two for another event and I wanted to turn it over quickly so I can get another bet on today.
The horse (Two Smokin Barrels) won so I withdrew £80 from Stan James and lost £67.50 with Betfair, net profit of £12.50. As I say, this isn't great return from a £20 free bet but I didn't want to wait any longer what with the two voided events and time ticking by.
With the odds at 5.0 I deliberately "overlaid" the bet a bit so the return would have been better had the horse lost. Logically this was sound as the horse wasn't favourite to win but as you may have noticed I am not lucky when it comes to betting.
I had used the Profit Accumulator calculator to play around with the figures or not. Had I gone for a straight bet not favouring either outcome I would have laid £14.68 to return guaranteed profit of £13.94, equally I could have underlaid to give a profit of £20 if the horse won - this would have meant laying £13.33 The calculator gives you all this information at your fingertips, it really is very useful.
By now I have realised the key to making a decent return is making sure you place bets as quickly as possible. So, I signed up to William Hill straight away and placed a £10 bet immediately at odds of 1.91 (Both teams to score, St Johnstone vs Inverness, kick off in 10 minutes!) and laid off £7.85 with Betfair (odds 1.99) on it being not Both Teams to Score.
William Hill give 3 free £10 bets as part of this promotion, so the guaranteed loss of 65 pence for the qualifying bet isn't a problem.
Today marks the end of my first week's betting and a profit of just under £20 isn't exactly great, but it is a profit and enough to pay for my first month's platinum membership of Profit Accumulator so I will keep trying until the end of the month.
Had the free £20 bet with Stan James today. I won't go into details, but another race meeting that I had bet on was called off, so nothing happened, I will try to get rid of this cursed £20 free bet again tomorrow!
Using the Profit Accumulator site I found that Stan James were giving a £20 free bet if you signed up and bet £10 at odds of 1.5 or higher, so I went for that. As I am only using small amounts to begin with I am choosing the smaller offers, if you want to start with a larger "bank" then you can get bigger winnings more quickly.
I went for a horse-race this time, again using the Profit Accumulator Odds Matching tool I found that I would break-even whatever the outcome on the 14:15 at Wincanton if I backed Awesome Rosie. I placed the bets and caefully checked them and sat back to await the result.
I luckily checked about an hour after placing the bet and noticed my bet with Stan James had been marked "Void" and my stake returned. At first I thought I must have done something wrong again, but it turned out the meeting at Wincanton was cancelled due to the weather so I had got my lay bet returned as well.
I quickly checked to see if I could get another bet on, wanting to quickly get the free bet and I found another horse race that actually offered slightly better returns, I would make a small profit either way. This would mean me betting the £10 with Stan on Nefyn Bay at odds of 4 running at Leicester in the 14:05 and laying £11.59 with Betfair at odds of 3.5. This would guarantee me a win of just over a pound either way. However, I decided to lay £10 being a bit of a noob and paranoid they may think it's a strange amount to bet. This way if the horse wins I am up £5 and if not I lose 50p.
Updated - So the race is done and the horse I backed came second, so my lay bet won meaning I lost 50p overall. This isn't a problem though as I will now get a free £20 bet that I will win whatever the outcome. Stan James can take up to 24 hours to credit the free bet so I will place that one tomorrow.
You soon realise doing this that you need to turn over the bets as quickly as you can to be more profitable - unlike me you may want to place more than one bet at a time but I am doing it like this to make it easier to follow, for me as well as you the reader!
The free Sun Bet lost, Rangers got beaten and so the lay bet with Betfair won, returning me a profit of £8.55 as expected!
I was busy today so didn't get chance to place another bet. My recommendation would be to try to place more than one bet a day if you can once you get confident.
I used the Profit Accumulator Odds Matching tool to see what the best bets would be to go for using the free £10 Sun Bet. There was nothing for today so I went for Rangers to beat Hearts away, this game being played tomorrow.
I laid the bet with Betfair and it meant a guaranteed profit of £8.55 whatever the result, as this was a free bet. As you can see, Matched Betting is not a get-rich-quick scheme!
I was very careful this time and didn't get any interruptions, so both bets were placed without any mistakes this time...........
So luckily I logged back on the my Sun Bet account and found that I had actually got the free £10 bet - result! Obviously had I done as I was told correctly I would have got the free bet without any issues.
Using the Profit Accumulator Calculator I found the best bet to go with was Wigan vs Huddersfield - If I backed the draw with the £10 free bet and laid at Betfair, I was guaranteed to win £8.50 - this actually means I am losing £1.50 but it's a free £10 bet so a profit of £8.50
I duly placed the Lay, carefully checking the odds before doing so. Odds can change so you need to do this each time you place the bet, you also need to make sure the exchange (lay bet) has enough avaialble funds to cover your bet should you win. I checked this as well and it was all good to go.
I logged back in later on after the game and was shocked to see my free bet with Sun Betting was still sat there - I hadn't confirmed that bet!
Luckily for me, this time, the lay bet won, ie Wigan beat Huddersfield so the bet against the draw won, I made a profit of £8.55 which means I am overall down £1.45 but with a free £10 bet to go at, so I am pretty much in the same position I would have been in had I not mucked it up twice!
Learn from my mistakes, be careful when matched betting, it is not risk free if you make any silly mistakes like I did!
Tip:After placing a bet, check your 'pending bets' or similar section on your account to make 100% sure the bet has been placed correctly!
I decided to go for a simple offer to begin with, albeit one that wasn't very lucrative, but we all have to start somewhere!
Sun Betting offers a free £10 bet if you deposit and wager a fiver - which I duly did.
I used the calculator on the Profit Accumulator site to find a bet that would mean that I would only lose a maximum 15p on my qualifying bet - but I forgot to read all the small print and placed the qualifying bet at odds of 1.44 - they had to be at 1.5 or higher to qualify for the free bet! Oops!
Due to this gaffe I had to place another bet with Sun Bets to get the freebie but wasn't sure if that would qualify as it wasn't my first bet with them. So I decided not to bother placing a matched bet on either and hoped at least one of them would win.
As you probably guessed, both bets lost, so total for Day 1 is a loss of £10, not the greatest of starts but you live and learn and hopefully anyone reading this will learn from my mistake! Read the small print and be careful!
Tip:I should have matched both the £5 bets even though they were placed incorrectly, this would have meant a maximum loss of around £1-2