Matched betting - chat, help and advice

[mrsbenny]

I’ve opened one. Really easy!

[asdageek]

Giving it a go too. I am cautious when it comes to money but doing my research and dipping my toe in the water! Joined profit squad and taking it slowly! My son used to gamble a lot so it feels strange that after all the time I nagged him to stop that I have started (altho I know its not really betting in the sense of the traditional lets lose all my money kind!) good luck everyone and great thread!

[mrsbenny]

so once I’ve deposited my money into Betfair Exchange and the bookies in theory I don’t spend any more of my own money? Everything else is winnings? Is that right? Don’t want to be forking our more than I expect to after initial layout?

[dizzzy]

I'm wanting to open up a bank account to use purely for the match betting but am unsure who to get one with. After 25 years of working I'm now a full-time university student so don't have a wage of my own coming in (only student loan and bursary).

I'm unsure if this will affect me opening a new account as all my other accounts have been opened whilst I was working.

[butterflymags]

Originally Posted by mrsbenny

Did you feel clueless when you first started and sceptical? I’m gonna give it ago but only starting with £50 and build it up slowly.

I still feel clueless until I start I suppose.

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I didn't feel sceptical as others on here were making a success of it, and I knew how to place a bet already but I was nervous of messing it up.

It all gets easier as you do more and you then try new things and get nervous about them too, but even the experienced amongst us still mess up on occasion but you learn to take it in your stride.

It helps if you look at it as cash flow rather than your money. Its not my money until I move it to my savings account. I put £400 in at the start and did the straight forward easy offers, slowly and once I made £400 on top of my £400 I took my £400 back. I felt more comfortable then as it was cashflow.

[mrsbenny]

Originally Posted by butterflymags

I didn't feel sceptical as others on here were making a success of it, and I knew how to place a bet already but I was nervous of messing it up.

It all gets easier as you do more and you then try new things and get nervous about them too, but even the experienced amongst us still mess up on occasion but you learn to take it in your stride.

It helps if you look at it as cash flow rather than your money. Its not my money until I move it to my savings account. I put £400 in at the start and did the straight forward easy offers, slowly and once I made £400 on top of my £400 I took my £400 back. I felt more comfortable then as it was cashflow.

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So once you paid your money in to your accounts have you had to pay any more of your own money or after that do you play with your winnings and transfer money etc.

My husband is very sceptical which has put me off slightly but I’m going to go for easy bets at first.

[Shani]

I've put £145 of my own money in so far, but waiting for the payouts will slow me down for the next few days. I'll top it up next week once I have more disposable income, and then use the profits to continue from there. Once I have a decent bank roll I'll withdraw my starting money back to my normal account.

I have a question for those that have been doing this a while - have you had any issues with fraud? I realise your details will be given to many, many sites, so has this caused any problems for you? What about spam phone calls because you share your mobile number?

[daytonababe]

Originally Posted by mrsbenny

How long does it take for winnings to go back into your bank account after withdrawing from coral or Betfair?

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Depends on your bank

With betfair I had a huge win the day before good Friday and it was in my starling account Tuesday am .

[daytonababe]

Originally Posted by Shani

I've put £145 of my own money in so far, but waiting for the payouts will slow me down for the next few days. I'll top it up next week once I have more disposable income, and then use the profits to continue from there. Once I have a decent bank roll I'll withdraw my starting money back to my normal account.

I have a question for those that have been doing this a while - have you had any issues with fraud? I realise your details will be given to many, many sites, so has this caused any problems for you? What about spam phone calls because you share your mobile number?

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No fraud or spam phone calls I do get texts from some bookies but only with offers or asking me to verify my ID.

[daytonababe]

Originally Posted by mrsbenny

so once I’ve deposited my money into Betfair Exchange and the bookies in theory I don’t spend any more of my own money? Everything else is winnings? Is that right? Don’t want to be forking our more than I expect to after initial layout?

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Depends .. you might find if you do lots of offers you need to keep topping up the exchange until you have a big enough bank in there .

If all your horses won at the bookies then your exchange would be empty .

I rarely let my exchange fund now go below £1000 for that reason .