Can someone explain matched betting simply to me?

[skinnybaby]

Just been watching the videos on profit accumulator. i think i get some of it but im still not sure.
At the end, after using the free bets when the calculator say '16.43 profit' is that calculated after taking off the lay bet you put in.

Basically im looking at a screen that says 'Lay bet 17.50 but then profit 16.43'
Thats totally gone over my head because im looking at it thinking but surely ive lost 1.07? Confused

[jobelly]

Originally Posted by skinnybaby

Just been watching the videos on profit accumulator. i think i get some of it but im still not sure.
At the end, after using the free bets when the calculator say '16.43 profit' is that calculated after taking off the lay bet you put in.

Basically im looking at a screen that says 'Lay bet 17.50 but then profit 16.43'
Thats totally gone over my head because im looking at it thinking but surely ive lost 1.07? Confused

See more...

That is your lay bet less the 5% commission that betfair charges (assuming its betfair)

[myvot]

I'm still at the reading all the reviews stage at this! What happens if the result is a draw?

[JoJo88]

Originally Posted by myvot

I'm still at the reading all the reviews stage at this! What happens if the result is a draw?

See more...

If you have bet on Team A to win, then your lay bet will be Team A ‘not’ to win, which covers the draw

[firsttimemouse]

Placed my first bets today, few mistakes on the way. My usual attitude of "I'm quite good with numbers I'll be fine with This!'. So when using the coral free bet I managed to somehow add £5 of my own money to the free bet on three occasions so bet an extra £15. I realised I did this and then placed a lay bet on the exchange to counteract it (I think).

Then later on I was placing a lay bet on betfair, it didn't seem to accept the bet so I tried to place it again but ended up with two lay bets so had to use one of my free bets on the bookie site! I don't think I matched it quite right but that bet was very small amounts so will be fine.

Two learning points, 1) easier to do this on laptop to start with rather than attempting on my phone or tablet, 2) don't rush ahead!

[kirstenjet]

I've given it a go today after reading this thread. Hoping to make something towards next years holiday!

[JoJo88]

Originally Posted by kirstenjet

I've given it a go today after reading this thread. Hoping to make something towards next years holiday!

See more...

Good luck

[kirstenjet]

Well so far I've deposited £360 , I have £191 in available in accounts, with 8 bets on football matches still to happen. On the ones that have completed I'm up £40.40 on paper. I still have £30 in free bets to use but need to get some mone back before using them. Finding it a little hard to keep track but I think I've sorted it out by writing it all out on paper tonight, which I should have done from the beginning!

[KevinCosmos]

Originally Posted by kirstenjet

Well so far I've deposited £360 , I have £191 in available in accounts, with 8 bets on football matches still to happen. On the ones that have completed I'm up £40.40 on paper. I still have £30 in free bets to use but need to get some mone back before using them. Finding it a little hard to keep track but I think I've sorted it out by writing it all out on paper tonight, which I should have done from the beginning!

See more...

Good luck and keep it up - we started Matched Betting in February and so far made about £1900-£2000 pure profit. We used oddsmonkey premium (£18pm) and it's a great tool.

I'd look at using a spreadsheet to track, I have one I use daily to track my qualifying and free bets

I'm happy to give advice and answer any questions you have

[f1girly]

I'm just starting MB, this thread has been so helpful, thank you in advance for the many questions I will have 😁