Matched betting

[lewisdmz]

Anyone here making extra money from matched betting? A friend told me about it last summer and i've been doing a few offers each week, can't fault it really!

Mods: Please note this is not gambling discussion, there is no risk and the outcome is certain.

[Niall]

why would we care? It's not like you're talking about dealing class A's

[lewisdmz]

Haha, I'm not sure, some people get funny about it as though it's illegal or something.

[swampy]

Nope but what is it

[lewisdmz]

In a nutshell - free money. Well, I say free, like anything you need to put time into it, but whenever i've worked it out it's about £15 an hour, tax free.

I know a lot of people will be rolling their eyes at this point, I did as well. So I won't go on unless people are interested.

Basically, you can use a betting exchange to bet on an event NOT happening at the same odds you would place a bet at the bookies FOR an event happening - so no matter what the outcome of the event, both bets will cancel each other out.

You can use this system to make a guaranteed profit from the free bets which online bookies give out all the time (as you are only using your own money for one of the two bets).

If it helps to believe me, here's an article on The Guardian about it.

http://www.theguardian.com/money/2010/ju...ts-bookies

[Dum-Dum]

What is matched betting.

In fact how is it betting if the outcome is a certainty?

[Toms306]

I'm confused already...

[lewisdmz]

Dum, I guess it's called matched betting because you are betting on both outcomes and those bets are matched.

But yes, it's not really betting at all. I have no clue about sport but it doesn't make one jot of difference.

[RetroPug]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

[Dum-Dum]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

So essentially it's borderline fraud.

[lewisdmz]

Good summary Retro, more like 70 - 80% of free bets converted into cash though.

Dum, how is it even remotely fraud?

[RetroPug]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

So essentially it's borderline fraud.

It's completely legal, and betting sites know that it is possible for people to play in this way and accept it, and even gladly allow it to continue by offering free bets because for every few people who do this, many more use gambling sites and lose money overall even if they occasionally win. They offer the free bets to entice people to play, as even if multiple people cash out, one new regular customer earns them a lot of money over time. If you have an account and don't use it for ages they offer you more free bets to try to coax you into playing.

This is also why they publicise people who win big with them and gladly pay out. It is great advertising and it encourages more customers to join and existing ones to gamble more. If one person wins 20k on an accumulator that sounds like a lot of money but how many people up and down the country have spent 5 to 10 pounds each placing bets? A lot is the answer.

It is not fraud. You are playing with their free bets, either winning or losing, and then withdrawing if you do win. The fact that you're a customer of two sites at the same time isn't fraudulent. If you use their free bet, and win, you are entitled to withdraw your winnings, as stated by their own terms and conditions. For every tenner they give away to you, countless others gamble hundreds or thousands of pounds over their lifetimes after being enticed by a starting free bet.



My preference, instead of matched betting, is to simply use the free bets and bet on things with crazy low odds that are almost guaranteed to happen eg. a team to win at football in the 80th minute when they are 3-0 up. If you do lose, no worries, it was free. Then you can withdraw all of the free bets once you've used them to win about 2p.

[lewisdmz]

I'm confused already...

You'd love it Tom, making money without having to leave the house. My friend made about £20k in a year doing it...

So essentially it's borderline fraud.

My preference, instead of matched betting, is to simply use the free bets and bet on things with crazy low odds that are almost guaranteed to happen eg. a team to win at football in the 80th minute when they are 3-0 up. If you do lose, no worries, it was free. Then you can withdraw all of the free bets once you've used them to win about 2p.

I don't understand why you would prefer to do this when you could make so much more by matched betting?

[Poodle]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

So essentially it's borderline fraud.

Might want to go look up the definition of fraud before you throw that at anyone while in uniform bud.

[toseland]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

So essentially it's borderline fraud.

nah,  its not misrepresenting anything, or falsifying information at all or being deceptive in any way.

you bet money with one betting company on one outcome (say team A to win, with one betting company's free stake) and with another betting company you bet on the opposite result (say team A to lose).

if they both offer free bets, for the sake of argument at 1:1 odds, you are always going to win one at those odds.

this only, however, works with bets placed on things with a change of winning being either 1 or 0 (either they win, or don't) so wouldn't work on say, an F1 race (unless you have 20odd stakes) as any of the drivers could potentially win the race.  Football matches, rugby matches, tennis matches and most other team games are a good start,

[Matt]

Sounds to easy there must be some catch?

[cully]

Sounds to easy there must be some catch?

didn't think you could withdraw monies won from free bets?

[DemonDriverDan]

Sounds to easy there must be some catch?

Eventually you will run out of companies to get free bets with. There are ways of betting on the exchanges and making "guaranteed" money but you only make about 2p at a time, depends how much you care!

[RetroPug]

So essentially it's borderline fraud.

My preference, instead of matched betting, is to simply use the free bets and bet on things with crazy low odds that are almost guaranteed to happen eg. a team to win at football in the 80th minute when they are 3-0 up. If you do lose, no worries, it was free. Then you can withdraw all of the free bets once you've used them to win about 2p.

I don't understand why you would prefer to do this when you could make so much more by matched betting?

Because instead of converting most free bets into cash you convert all of them into cash if it goes your way. It is more risk (you're risking only free bets anyway and betting on the lowest risk outcomes on the site), but with more reward, and it takes a lot less time. Or am I missing something?

Sounds to easy there must be some catch?

didn't think you could withdraw monies won from free bets?

You usually have to play with free bets one or more times to withdraw the winnings, hence the method of matched betting which is playing two free bets against eachother to guarantee you win one of them and then get to withdraw that money.

[lewisdmz]

Just google it if you want to know what it is.

A very quick summary:
You get free bets from most online betting sites, you can't withdraw this money you have to use it to gamble.
You place a bet on a sport with this free bet.
You then place a bet on a different betting site betting for the opposite of this ie. one bet for Team A to win, one bet on another site for Team A to lose.
You will lose one of the two free bets, but no worries, they were both free.
You will win one of the two free bets, this allows you to withdraw the money as it is now betting winnings.

It is basically a method of converting 50ish percent of the free bets that gambling sites offer into actual money in your bank account without just trying to gamble with it and potentially either winning or losing.

So essentially it's borderline fraud.

nah,  its not misrepresenting anything, or falsifying information at all or being deceptive in any way.

you bet money with one betting company on one outcome (say team A to win, with one betting company's free stake) and with another betting company you bet on the opposite result (say team A to lose).

if they both offer free bets, for the sake of argument at 1:1 odds, you are always going to win one at those odds.

this only, however, works with bets placed on things with a change of winning being either 1 or 0 (either they win, or don't) so wouldn't work on say, an F1 race (unless you have 20odd stakes) as any of the drivers could potentially win the race.  Football matches, rugby matches, tennis matches and most other team games are a good start,

You can do it no problem at all on events where there are multiple outcomes, horse racing is one of the biggest sports I make money on. Remember when you do the lay bet you are saying "this person won't win" so it doesn't matter which one of the other riders does win for your lay bet to win?

Sounds to easy there must be some catch?

This is what I thought, and to be honest I would have thought it was a con as well but i've known the person who told me about it since school and trust him. Then I saw the article on the guardian and thought it could actually be legit. Turns out it is and my bank account is currently in £1300 better shape because of it. 

There's also the time and effort required to do the offers. But like I said, i've worked it out at about £15 an hour tax free, which is damn good really considering you don't have to leave the sofa!

It's perfectly possible to make over a £1000 a month, but I would say that would require approx 20 hours a week and a big bank, so not for everyone.

There's a few sites out there which will tell you everything you need to know to get started and have step by step guides for all the new customer offers as well as the on-going ones (for a cost of course). I'm using one called "Cash The Bonus" (https://www.cashthebonus.co.uk) if anyone is interested, can't complain so far. They also have an active facebook group so you can get answers to pretty much anything straight away if you are unsure.

[silverzx]

I think I prefer red/black or a hand of BJ.

Can appreciate that there is probably many unemployed people doing this a lot between selling the occasional bag of weed which is fair enough, free money is free money right.

[toseland]

you drive a ZX mate, you need all the money you can get for tyres and parts haha.

[zx_volcane]

you drive a ZX mate, you need all the money you can get for tyres and parts haha.

Contrary to both username and profile pic, he rides in the 'white chariot' can't divulge further deets I'm afraid due to its underground nature

No comment on the Zx slurs :p

[Piggy]

you drive a ZX mate,  you need all the money you can get for tyres and parts haha.

Contrary to both username and profile pic, he rides in the 'white chariot' can't divulge further deets I'm afraid due to its underground nature

No comment on the Zx slurs :p

Haha... You crack me up tom

[bigcheez2k3]

Holy bat thread revival man!

Anyways...Did anyone ever take part in this?

I've been reading into it recently and I'm probably going to do it, although I'm being very careful as I know naff all about sports. How can I/we use this on football if a draw is a possible outcome? As you bet on win lose states, so surely I'd need to bet on sports with a binary outcome.

[bashbarnard]

Holy bat thread revival man!

Anyways...Did anyone ever take part in this?

I've been reading into it recently and I'm probably going to do it, although I'm being very careful as I know naff all about sports. How can I/we use this on football if a draw is a possible outcome? As you bet on win lose states, so surely I'd need to bet on sports with a binary outcome.

No idea if anyone else has done it but at the moment i could use all the money i can get. if someone could walk me through this amazing "free" money it would be much appriciated as i never bet as im tight and i know nothing about sport expcept if its motor related

[bigcheez2k3]

Holy bat thread revival man!

Anyways...Did anyone ever take part in this?

I've been reading into it recently and I'm probably going to do it, although I'm being very careful as I know naff all about sports. How can I/we use this on football if a draw is a possible outcome? As you bet on win lose states, so surely I'd need to bet on sports with a binary outcome.

No idea if anyone else has done it but at the moment i could use all the money i can get. if someone could walk me through this amazing "free" money it would be much appriciated as i never bet as im tight and i know nothing about sport expcept if its motor related

I've been reading this explanation of it: http://www.guidetomatchedbetting.co.uk/b...d-betting/