Matched betting fail!

[MK_club1987]

Originally Posted by abiknox

I also failed first time. Not sure where i went wrong but the football score was a drawer so i lost my £5 with Coral and my £5 with Betfair.

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Are you sure you used the exchange part of Betfair? Sometimes when you first log on it takes you to the sportsbook, if that's the case you didn't lay your bet your just backed the same as Coral.

For West Ham vs Stoke for instance if you bet a draw you would LAY AGAINST draw on the exchange. I personally use Smarkets for my exchange as it's only 2% commission compared to Betfair's 5%.

[wez]

Originally Posted by MK_club1987

£100 in what time frame? It's not instant money, it does take time, at the start it can take a while if you don't put much money into it as you will be restricted to one offer at a time, but as time goes on and you make more and more you'll be able to take on multiple offers and bigger offers which requires a bigger balance in your exchange.

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Thanks. I started with £30 and did it once a week for about 4 months. I guess I wasn’t doing it frequently enough?

[abiknox]

Thats likely what i did then. I thought Betfair was only exchange bets.

[daytonababe]

Originally Posted by abiknox

Thats likely what i did then. I thought Betfair was only exchange bets.

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No you have to click on the bit that says exchange , otherwise it’s just normal bets .

[Slinky Malinki]

Originally Posted by abiknox

Thats likely what i did then. I thought Betfair was only exchange bets.

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You're far better off going with Smarkets or Matchbook anyway. Commission is far lower (currently 0% for me on both at the moment) and less chance of getting confused with the sportsbook.

[MK_club1987]

Originally Posted by wez

Thanks. I started with £30 and did it once a week for about 4 months. I guess I wasn’t doing it frequently enough?

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Yeah I try and have a look at it each night, don't get me wrong I don't spend hours on it, sometimes I may only have a browse through the daily offers to see if there's anything decent, I have my MB e-mail set up on my phone so I get any offers through e-mail throughout the day.

I reckon on average I spend 30 minutes each night on it, with an extra 30 minutes if there's a Bet365 in play risk free, and then an hour or 2 on a Saturday.

That 30 minutes might not be in one chunk, if I see a decent offer I may keep checking it throughout the evening to find a better match so it's a lower qualifying loss

Like I've previously said the more time you spend on it the more you will make, but it depends on what your expectations are, I am happy to make an extra £200-£500 per month and at the moment I am hitting that on just the above timings.

[MK_club1987]

Originally Posted by Slinky Malinki

You're far better off going with Smarkets or Matchbook anyway. Commission is far lower (currently 0% for me on both at the moment) and less chance of getting confused with the sportsbook.

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I agree on this one, Smarkets is my main one, BetDAQ have currently dropped their commission to 2% as well but not as keen on their website.

I personally would stay clear of Betfair unless you get a specific offer from them (I do get an offer every few months to get a refund of anything between £25-£100 on net losses through the exchange, so I use them for these offers), so it's worth having an account, I just don't use it.

[catlady]

Those of you earing thousands a year, can I ask if that is just matched betting or with gambling as well in the casino rooms?

[Slinky Malinki]

Originally Posted by catlady

Those of you earing thousands a year, can I ask if that is just matched betting or with gambling as well in the casino rooms?

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You don't have to do any of the casino stuff but there are some offers that are great value but are 'gambling'. Would you gamble £10 on a 50/50 chance if, when you win, you were given £40?

[MK_club1987]

Originally Posted by catlady

Those of you earing thousands a year, can I ask if that is just matched betting or with gambling as well in the casino rooms?

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I have made around £8k in Matched Betting and then £2.5kish at the casino, bearing in mind a lot of that casino profit came from risk free through the MB website I use.

Like Daytonababe I do now allocate a small amount of profit each month just to put into slots.

You do have to be careful with casinos as it's very easy to go chasing the big win especially if you lose some money, so I would only do the casino offers if you have really good self control, I have been tempted to stick one more £50.00 into slots before, and I had to have a break from them.