Category: Getting Started

The matched betting world can be very confusing when you start matched betting. All the posts in this section are aimed at helping you understand this world and to feel confident enough to take that first step.

Matched betting mum diary earnings Profit Accumulator

MONTHLY MATCHED BETTING DIARY…8 MONTHS ON

7 Comments

Towards the end of last year I started my regular series of posts about how much money I’m making from matched betting. This is the latest instalment covering my matched betting earnings in January 2017.

The purpose of these updates is to show just how much it’s possible to earn from matched betting in your spare time. I’m a full time mum of two. With an 18-month-old boy who’s into everything, I don’t have much spare time! I’m lucky if I can spend 6 hours per week in total matched betting. Yet I manage to make about £500 per month. By sharing how I can do it, I hope to convince people that matched betting is suitable for anyone. With the support of Profit Accumulator, it’s possible to make money long-term from matched betting.

I’m lucky if I can spend 6 hours per week in total matched betting. Yet I manage to make about £500 per month.

BACK TO MATCHED BETTING AFTER A BREAK

The canny among you will realise there’s a month missing since my last update when I reported my matched betting earnings up to the end of November 2016. That’s because I took December off to focus on enjoying Christmas. I loved my time away but, by early January, I was keen to get back to matched betting.

It took me a while to get back into the swing of things. It struck me that there weren’t as many reload offers available as I’d normally expect to see. I’d read that this was quite normal for the time of year and discussions with fellow matched betters confirmed this. Therefore, while I was disappointed not to meet my £500 target this month, I was grateful to make as much as I did!

MATCHED BETTING EARNINGS

JANUARY 2017 – £407.26

  • The total amount I made matched betting in January 2017 was £407.26.

When I started matched betting my aim was to make roughly £500 per month. I’ve beaten this most months. So I’m still on track to make this over the course of my first year matched betting!

Most offers are linked to major sporting events. As there wasn’t too much happening in January, it’s not surprising there were fewer offers available. The plus side of this is that I didn’t spend as much time matched betting, leaving me with more time to myself. Looking back over the month I probably spent about 4 hours per week matched betting on average. For the effort involved, I’m chuffed to have been able to make more than £400. That works out to more than £25 per hour. Not bad considering I can make this money at home, at times that suit me and my children.

I’m chuffed to have been able to make more than £400. That works out to more than £25 per hour. 

MATCHED BETTING EARNINGS TO DATE – £4664.61

So, in the eight months I’ve now been doing matched betting I have made an impressive £4664.61. If you want to learn more about how and when I made this money take a look at my previous earnings reports:

WHICH MATCHED BETTING OFFERS DID I COMPLETE?

So how did I make that money? Here’s a breakdown of the different types of offers I got involved in through January 2017:

BET X, AND GET A FREE BET: £283.59

  • These are the bread and butter matched betting offers where you bet a certain amount and get a free bet.
  • Profit Accumulator list all of the reload offers you can continue to get involved in long after completing the bookmaker sign up offers. Most of my earnings come from checking this list most days.
  • It’s also worth checking back to the sign up offers listed on Profit Accumulator every month or so. Some bookmakers change their introductory offers. So this month I found £50 worth of offers with bookmakers I hadn’t previously signed up to.

CASINO OFFERS: £10.93

  • After taking a hit the last time I completed some casino offers, I was weary of completing them. So this relatively small amount of money was made from completing only the risk-free offers that were available this month.
  • If you’ve not yet completed any casino offers, my introductory guide is worth a read. Not all casino offers are risk-free but they are definitely worth attempting. Profit Accumulator crunch the numbers and offer advice about the amount of money you are likely to make and how to approach the offers. I’ve now made more than a few hundred pounds from these offers alone.
  • My advice is to think carefully about the amount of money you are prepared to risk and have a go. This month I didn’t want to take any risks, especially as there were fewer matched betting offers available. However, some months I will risk up to £20 if an offer looks like it is good value.

ACCUMULATOR REFUNDS: £31.01

  • These are offers where you get a free bet if one leg of an accumulator – where you bet on a few different results as part of the same bet – loses.
  • I didn’t complete many accumulator offers this month so this wasn’t a bad return. I’m still finding my way with these types of bets. They do offer an extra way to make money but they can be time consuming, especially if you want to earn larger amounts of money. If you’re a little confused by these types of offers, I’ll be completing an introductory guide to accumulator bets soon.

PRICE BOOSTS: £31.78

  • I like completing price boosts because they are a quick way to make money instantly. The amount of money you can make from enhanced prices can seem very small (only a few pounds at a time, if you are lucky). But as it’s so quick to place the bets this is a very efficient way of making money. And the amount of money you can make adds up very quickly.
  • I purposely didn’t take advantage of too many enhanced odds this month. That’s because the bookmakers will limit the amount of money you can place on these types of bets if they think you might be abusing them.

MUG BETS: -£14.59

  • I should perhaps have placed more mug bets this month. When you rely on reload offers for your matched betting income it’s important to look after your accounts to still be able to take advantage of offers. This is something I need to improve on to look like more of a normal betting customer.

FOOTBALL REFUND OFFERS: £64.54

  • There are lots of different offers attached to football games where you can get free bets in a variety of circumstances. This includes: when the team you back scores a goal; hitting the crossbar; losing your bet in the last few minutes of a game.
  • I started to get more involved in these types of offers over the last month and was impressed with the results.

IS MATCHED BETTING FOR YOU?

If reading my diaries has inspired you to start matched betting, read my guide explaining what matched betting is.

Then I’d recommend signing up for a free trial at Profit Accumulator. They walk you through the matched betting process step by step. With only a few hours spare each week to do matched betting, I find the service Profit Accumulator offers invaluable. They tell me which offers to complete and help me find the bets. They save me hours of work which means my time is instead focused on making money! You can read more about the service Profit Accumulator offers in my review.

Profit Accumulator’s free trial allows you to make £35-£40 simply by trying a couple of the different introductory offers available. It’s the perfect way to see if matched betting is for you.

Share This:

new year boost income matched betting mum profit accumulator

A New Year Boost – Matched Betting

Leave a comment

WINTER BLUES

February. It’s not really up there as the best month of the year. So far, it’s been cold, dark, damp and miserable. Winter is dragging on and the warmer days of Spring still seem a very long way off. What with the credit card bills from Christmas also being due, it’s all a bit depressing.

However, I’ve got the perfect pick me up. How does the prospect of making some extra cash from the comfort and warmth of your own home sound?

MATCHED BETTING

Matched betting allows me to make extra money from home, working around my kids. It’s perfect for anyone who has a little spare time. Since I started six months ago, I’ve made more than £4000. Don’t tell me that extra money wouldn’t give you a welcome mid-winter boost? In fact, it could go a long way towards paying for a warm and sunny holiday this summer.

MATCHED BETTING IS NOT A SCAM

Sounds far too good to be true doesn’t it? I can assure you it’s not a scam. It’s been tried and tested by journalists at The Telegraph and Huffington Post. And here’s what The Guardian has to say about it:

“With bookmakers offering ‘free bets’ to tempt new customers, you can play the system and pocket hundreds of pounds – with little risk to your own cash” (The Guardian, June 2010)

Despite its name, matched betting doesn’t involve you betting or gambling in the traditional sense. Instead, you can take advantage of the free bets bookmakers give out as incentives for you to sign up with them. Instead of leaving it to chance, by following a set process you can make at least 70% of the value of those free bets every time.

How does it work?

It is actually very simple to play the system and make money from free bet offers. But it does take time to get your head around how and why it works.

  • Sign up to an online bookmaker which is offering a free bet for new customers.
  • Sign up to a betting exchange website. These sites let you bet against the outcome of a particular game or match.
  • Place a qualifying bet. Don’t simply choose a random bet which could win or lose. Instead, you need to place 2 bets – 1 for and 1 against the same outcome. This means backing a bet with a bookmaker and also laying against that outcome with a betting exchange. By doing this, all the outcomes are covered. This means that when the match or game finishes you will get your money back.
  • The bookmaker will then award you a free bet.
  • Repeat the same process with the free bet. You need to place 2 bets both for and against the same outcome. Once again, you’ll get your money back. But as this was free money given to you by the bookmaker in the first place you actually make the value of the free bet so will be in profit.
  • As you always back and lay against the same outcome there’s never a chance for your money to be lost.

RISK FREE & TAX FREE

Matched betting is a RISK FREE way of making extra money. What’s more, all the money you make is TAX FREE.

To learn more about how it works this video tutorial explains more about matched betting.
By following this simple method, you can always make at least 70% of the value of the free bets offered by bookmakers. There are more than 50 bookmakers in the UK with introductory offers worth well over £2000. This means there’s at least £1500 to be made simply by signing up to them.

The great thing about matched betting is that the bookmakers want you to continue betting with them once you’ve signed up so there are ongoing reload offers all the time. If you want, you can carry on making between £500-£1000 a month if you can spare 1-2 hours a day.

How do I get started?

It’s possible for you to research all of the offers that are available, analyse their terms and conditions, and look manually for bets where the back and lay odds are the same or very close. But this takes an awful lot of time!

If you’re anything like me, the whole matched betting world can also seem very complicated and a little daunting. Before I started matched betting, my experience of bookmakers was very limited, apart from an annual visit to place a bet on the National (which other customers or the cashier helped me work out how to do). Not to mention that as a mum of a 1 and 4-year-old, I really don’t have much spare time to do all this on my own.

PROFIT ACCUMULATOR

Instead, I found Profit Accumulator. This site spoon feeds me all of the information I need. It tells me what offers are available, helps me find suitable bets, and talks me through placing the back and lay bets. They offer a free trial where you get access to the training and tutorials for 2 offers, from which you will easily make £35-£40. I’ve done a full review of the service they provide.

If you do decide to take the plunge and give it a go then do check out the rest of this site for top tips and advice. I feel a great deal of responsibility if people start matched betting as a result of what I’ve written so I want this to be a useful resource for people. The top tips for getting started, frequently asked questions and a guide to the terminology of this strange land are a great place to start. You can also follow my matched betting progress in my monthly diaries.

Share This:

Coffee open notebook desk matched betting mum has earned £3798 in 5 months from matched betting with Profit Accumulator

Monthly Matched Betting Diary…5 months on

4 Comments

Last month I started my regular series of posts about how much money I’m making from matched betting. The last month has flown by and I can’t quite believe it’s time for another update.

The reason for me posting these updates is to show just how much it’s possible to make matched betting. There are lots of people with more time and flexibility making more than me. But as a busy mum with little spare time, I’m happy with regularly achieving anything between £500 and £1000 a month.

October 2016
  • The total amount I made matched betting in October was £691.01.

Seeing as my monthly goal was £500 when I started out I should be very happy with this. It’s the second month of me working my way through reload offers alone. These are the ongoing offers from bookmakers to entice you to keep betting with them. There aren’t quite as many juicy and easy offers to take advantage of, so I was expecting it to be harder to make money. In reality, it wasn’t! Matched betting also took a bit of a back seat as it was half term this month and I’ve been getting more and more involved in this blog. It left an hour or so at most when I did get a chance to check out Profit Accumulator and get some offers completed.

But I am also slightly disappointed with myself. I made a couple of schoolgirl errors one day which cost me £100, wiping out the money I’d made in the past couple of days. I was a little bit gutted because I didn’t follow my own advice about the common mistakes you can make matched betting. But, mistakes can and will happen. You just need to learn from them and move on, otherwise you’ll go mad kicking yourself about them. And still, nearly £700 isn’t to be sniffed at!

what offers did you do?

So how did I make that money? Here’s a breakdown of the different types of offers I got involved in:

  • BET X, AND GET A FREE BET: £291.75. These are the bread and butter offers where you bet a certain amount and get a free bet. There were lots of in-play offers available this month, where you bet on the event as it’s taking place. In return you get a free bet, often to be used on another live event. Also make sure you check your emails regularly, including your junk folder. I was sent a couple of very good invitation only offers from bookies I rarely use which helped with this month’s total.
  • CASINO OFFERS: £139.34. This is the first month I’ve attempted some of the riskier casino offers. I’m still not prepared to risk more than £10 on these offers but, as you can see, they can be very profitable. If you’re a little bit unsure about attempting these my introductory guide will help you get started.
  • HORSE RACING REFUNDS: £133.29. These are offers where you only get a free bet if your horse wins, is a runner up, or falls. I dabble in these occasionally when I think there might be a reasonable chance of me ‘winning’ a free bet.
  • ACCUMULATOR REFUNDS: £24.73.  These are offers where you get a free bet if one leg of an accumulator – where you bet on a few different results – loses. I made some silly mistakes with accumulator bets this month so I’m disappointed with this total. However, it’s taught me to be diligent in setting reminders when I need to place different lay bets.
  • PRICE BOOSTS: £90.91. Price boosts are when bookmakers enhance their odds on certain events, pushing the odds higher than the lay odds available. This means you can make an instant profit simply by placing one bet. At first, I was reluctant to do these types of bets as the amounts you could make from them were often very small. However, they are so quick and easy. And obviously, those pounds really do add up!
  • LOCK-INS: £9.97. These are offers where you can guarantee a profit by placing bets on certain eventualities occurring. As you can tell, I don’t often get involved in these types of offers. You can work these out for yourself with different calculators provided by Profit Accumulator. However, this is too much faff for me. Helpfully, the good people on the Profit Accumulator forum often share their findings which is when I would place these types of bets.
  • BINGO OFFERS: £13.80. I love bingo so was more than a little bit disappointed by the automated online games when I tried these a while ago! However, I thought I should try a few more this month and am very happy to have made some money from them. Look out for a post from me about these when I get more experience.
  • MUG BETS: -£12.78. These are the bets you place periodically to look like a ‘normal’ customer in the eyes of the bookmaker. This will always be deducted from your monthly total because you will make a small loss on each bet you place. As you can tell from the low amount I don’t place mug bets that often and I probably need to do more.
how much have you made since you started matched betting?

This is my 5th month of matched betting and the total to date now stands at an impressive £3798.40! You can see my previous earnings reports here.

how can i get involved?

It’s so easy for anyone to get involved in matched betting. As a first step, read my guide explaining what matched betting is to get your head around what you need to do. Then sign up for a free trial at Profit Accumulator. They will walk you through the matched betting process step by step. You can make £35-£40 simply by trying a couple of the different introductory offers available. It’s the perfect way of seeing if matched betting is for you.

Share This:

An Introduction to Casino Offers

3 Comments

A bonus feature of Profit Accumulator membership is a whole section full of casino offers to work your way through. These are in addition to all the matched betting offers which are the bread and butter of the money I make every month.

Profit Accumulator recommends you start these offers as soon as you have finished all the offers in the beginners section. But it took me a while to pluck up the courage to start these offers. Whilst I’d become familiar with matched betting, this was another thing I needed to understand and learn about. In themselves, the offers are quite straightforward and simple to do. But for a girl who’s only real experience of slot machines is through the penny slots at the seaside, I did feel a little out of my depth!

I didn’t understand the terminology and abbreviations being used. While there are guides on how to approach the different offers, there was no comprehensive training like there had been for matched betting. And there is an element of choice in how you approach some of the offers. Factor in the fact that you can lose your own money on some of them, then I was definitely put off.

However, I knew that this was something that I wanted to add to my armoury; any extra money I could make wouldn’t go amiss after all! And there’s the off chance you could hit a big win; I’ve seen tales of people winning a few thousand pounds just by completing these offers. So I’ve completed about half of the offers now and made about £200 in total. I’m very happy with that. Here’s what I’ve learnt if you find yourself in the same situation as me.

terminology

You’ll see these terms mentioned time and time again.

  • EV / ESTIMATED VALUE: Based on the terms and conditions for each offer, Profit Accumulator work out whether, on average, people are likely to make money. If there is a negative EV, then these offers won’t be recommended.
  • HIGH LINES & LOW STAKES: On most games you can alter the amount you bet by changing the value of the coins you can win and changing the numbers of lines on which money is paid out. By selecting a high number of lines at low stakes this approach is often recommended if you have a large amount of money to play through.
  • RTP / RETURN TO PLAYER: This is the percentage that customers will win from the game in its lifetime. This does not mean you will always win this amount as it will even itself out across different customers.
  • WAGERING: The number of times you need to play through any winnings, deposits or bonus amounts to be able to withdraw money. The riskier offers often tend to have very high wagering requirements, meaning it’s more likely you will lose your money.
how to approach the casino offers
  • Have a browse through all of the casino offers that are available to familiarise yourself with the way they work.
  • Get started by completing the risk free offers. You should be aware that it’s highly unlikely you’ll make any money from these but they do provide a safe environment for you to get familiar with different games, alter the stake and line amounts, and experience the time it takes to wager through high amounts at low stakes.
  • For the offers where your own money is at risk, follow the advice on Profit Accumulator. If you need further guidance then each offer is discussed individually on the forum.
  • In general, it is better to select games to play that have a high value return to player/RTP especially where your own money is at risk.
  • For the riskier offers, only play with an amount of money you’d be prepared to lose. Personally I’ve only ever risked a maximum of £10 on these games. However, if I’m having a particularly good month matched betting then I would be prepared to risk more. Although the good people at Profit Accumulator crunch the numbers to help calculate whether these offers are worth taking a risk on, by participating you are essentially gambling and you might lose money. I’ve lost money on the last couple of offers I’ve completed and it is a bitter pill to swallow. Be prepared for this. And when you do lose, don’t mull it over too much; just move on to the next offer.
  • Be prepared for the wagering to take a very long time. Sometimes you will need to wager through hundreds of pounds. It’s not unusual for this to take a few hours. When I have large amounts to wager through, I always set up autospins. I like to have it working away in the background while I get on with the ironing. I hate ironing, but having this on in the background does really help to while away the time.
  • Be careful not to start gambling with your own money. The games are set up to entice you to play and win the elusive jackpots on offer. It can be tempting to do just one more spin, especially when you have a large jackpot amount flashing at you with a sign saying it must be won soon.
  • Don’t get hung up on how much you see other people making from these offers. The amount of money you can make is purely down to chance. You will get lucky on some offers, not on others. Most people don’t walk away with thousands, so don’t expect to win the same amount. It’s better to have the attitude that any money you make – no matter how small – is a bonus.
  • You will get lots of casino offers sent to you via email. In general, these offers will reward you with a casino bonus if you deposit a certain amount. The wagering requirements on these offers are often quite high and are generally too risky. I tend to simply delete these emails. However, if I’m ever in any doubt I will consult the ‘Is this offer worth doing?‘ thread on the Profit Accumulator forum.

If you’re tempted to get started with the casino offers, then make sure you sign up to Profit Accumulator’s monthly or annual package; the offers will then be sitting there waiting for you to get started!

 

Share This:

Matched betting profit accumulator note taking record keeping

Matched Betting Record Keeping

11 Comments

If you’ve recently started matched betting and have a few offers under your belt, then you’ll be forgiven for feeling like it’s all a little bit out of control! I recall being overwhelmed working out which accounts I’d opened, remembering what bets I’d placed and tracking where my money had ended up. I couldn’t always remember.

The prospect of making money quickly and easily was what attracted me to matched betting and signing up to Profit Accumulator in the first place. Spending ages trawling back through my betting accounts working out what I’d done wasn’t what I had in mind. So very quickly I realised there were some core pieces of information I needed to log and keep track of. It’s made my matched betting life a lot easier, and I hope this boring but essential blog post will do the same for you.

WHAT INFORMATION do i need to record?

There’s lots of different ways to keep track of your matched betting activity. I’ll discuss this below. The most important thing is to make sure you record the right information. Here’s a list of the essential pieces of information you need to keep note of:

  • Active bets – I keep a note of the date, bookmaker, stake, the outcome I’ve bet on and the betting exchange where I’ve laid the bet off
  • Settled bets – the profit or loss (if it is a qualifying bet) from each bet; and
  • Bank deposits and withdrawals – this is essential to help you trace your money as it goes in and out of different accounts.

I also find it helpful to keep a note of the following:

  • Bookmaker login details – by this, I mean your username and a password reminder. DO NOT write down your passwords. You will open up to 50 different accounts which can make it tricky to remember the different login details. I would encourage you to use the same or similar usernames and passwords. But this isn’t always possible, so I find it helpful to have a list to remind me.
  • Running total – I keep a record of how much money I have made in total alongside details of my settled bets.
  • Balances of my bookmaker and betting exchange accounts – I make a habit of updating this information about once a month when I also review my bank account transactions. This provides a way for me to check that the total amount actually in my accounts tallies with my records.
  • Fixture list – I participate in a few different ongoing bets which require me to place qualifying bets through the football season. I keep a list of the relevant fixtures to remind me to place these bets.
  • To do list – A to do list helps me keep on top of all the different bets I need to place and ensures I don’t miss out on all those free bets I’ve been given!
How should i record my information?

Most people use a spreadsheet to keep track of most of this information. Profit Accumulator has a Useful Spreadsheets section on their forum with lots of different examples for you to choose from. I’d recommend you check this out and see what suits you. A quick google search will also give you some options.

As for me, I’m a bit of a rarity (oddity more like you may say!). I’m an old fashioned kind of girl and I keep a notebook with all this information in it. I personally find it a lot easier to write the information down as and when I need to, rather than opening up another page on my desktop and flitting between pages to transfer the information I need.

matched betting mum profit accumulator record keeping

A laptop, notebook and calculator are my essential pieces of equipment when I’m matched betting

Matched Betting Mum notebook profit accumulator

My notebook is my matched betting bible

I always have my notebook with me when I’m working through my bets. As you can see it’s divided into sections allowing me to keep track of different elements of my matched betting. That’s why I use a chunky notebook. I also love buying stationary so this allows me a little indulgence every now and then.

But what works for me won’t necessarily work for you. I know many people will bemoan me for using such a simple system and will argue a spreadsheet saves them time. And this may well be true for them.

If you’re only just starting out matched betting, make a note of the different bets your placing and what the outcome of those bets is. I’d then urge you to have a look at some of the different spreadsheets available and try them out. Once you find a way of keeping your matched betting records up to date in a way that works for you, I can assure you you’ll feel in control.

Share This:

Matched Betting – Common Mistakes

7 Comments

You might be asking why I’ve written this post. Surely matched betting is risk free? And if you follow the instructions on Profit Accumulator to the letter, then you won’t have any problems? That is correct. However, the process involves you manoeuvring between several different internet screens, sometimes only a few minutes before a game. The simplicity of matched betting also means you can get complacent when placing bets. It can be easy to make mistakes in these situations especially if you’ve got kids thrown into the mix as well. Here are some of the most common mistakes you can make – tried and tested by me! Luckily, I’ve not lost any money but this is down to luck. I could easily be telling you a different story. So be careful out there when you’re matched betting.

Confirm your bets

  • This sounds like the simplest thing but it is very easy to forget to confirm your bets. Most – but not all – of the bookmakers and betting exchanges require you to confirm your bet immediately after you place it. If you don’t do this, then your bet won’t be placed. You’re most likely to do this when you are making a bet very close to the start of a game or race when the odds will be jumping around quite quickly. Make a habit of always checking your bet has been placed before moving on to the next offer.

Placing two lay bets

  • This is particularly common if you use Betfair as your main betting exchange. When you place lay bets with Betfair it can be quite difficult to actually find them in your betting history. They don’t always show on your betslip in the exchange. Instead, you can find them by clicking on the My Bets tab and making sure you are in the exchange section of the website. If you inadvertently place two bets, make sure you place a back bet to cancel the additional lay bet out.

Last minute horse races

  • There will come a time when you place bets very close to the wire when a horse race is about to start. I would urge you to be cautious when doing this. This is because the odds can drift very quickly close to the start of a race, meaning your calculations will be out. Always work out whether you will need to lay more or less if the odds do change after your back bet has been placed.

Unmatched bets

  • Betting exchanges work by linking you directly to people against whom you can bet. You can therefore only place a lay bet at certain odds if there is someone willing to make a back bet at those odds. The maximum stake you can make at those odds is shown at the bottom of the pink lay box. If your stake is higher than this then anything over this figure will be ‘unmatched’. If it is unmatched at the start of the game then this part of the bet will be cancelled and you won’t have a valid lay bet. I always advise people to avoid placing unmatched bets. However, if this happens to you, don’t panic. Firstly, if there is some time – a few hours or a couple of days – before the match or race then sit tight. More people will place bets closer to the start time and it is highly likely that the bet will be matched. If you can’t hang around to check the bet, there isn’t enough time, or the bet is for a very large amount that you don’t want to risk, then use the calculator at Tricky Bet. You can enter the amount that has been matched and it will help you work out how much the remainder of the lay bet needs to be at the different odds that are available.

Place a bet on the correct game or race

  • Sounds obvious but this is easy to do when lots of different games or matches are all shown on the same page, especially if the odds are quite similar. This is why you should always quickly scan and check each bet before you place it.

Remember to lay an accumulator bet

  • Accumulators are a more advanced matched betting technique that require you to place several different lay bets in a row. When you do come to making these types of bets, make sure you have a system in place – e.g. reminders on your phone – to place each of the subsequent lay bets. And make sure you check what time the match starts beforehand as I discovered one morning when I woke up and realised the match had already taken place overnight!

Make sure you calculate your free bet correctly

  • Always remember to check that the calculator is in the correct mode when calculating your bets. I didn’t lose money when I calculated a free bet in the ‘normal’ mode but I didn’t make any either when the bet won at the bookies.

Opt in to offers where necessary

  • Some bookmakers stipulate that you have to opt in to qualify for different offers. If you don’t, then you won’t be given your free bet or bonus even if you placed the correct qualifying bet.

Read the terms carefully

  • Always check the terms and conditions attached to an offer. If you don’t stick to them, then you won’t qualify for an offer. It’s important to check the minimum and maximum odds and the mode in which you need to place a bet, for example some offers specify they can only be placed via a mobile. If you don’t comply, you won’t get the free bet or bonus.

Use your free bets before they expire

  • Use your free bets as soon as they are awarded to you and always double check how long you have to use the bet before it expires. Sadly I’ve lost quite a few this way…

Don’t gamble

  •  Although not technically a mistake, the cardinal sin a matched better can make is to gamble with their own money. The bookmakers want you to do this – to take a chance on an almost certain outcome, or to have just one more spin on a slot machine. That’s how they make their money. And, for the most part, that’s how people lose money. Always remember that you signed up to Profit Accumulator to make money and it’s not worth risking your profit on a game of chance!

I’m always learning on my matched betting journey. If you have experiences you’d like to share here then let me know, so we can all help each other.

Share This:

Matched Betting Terminology

4 Comments

The betting world can seem a very strange place for those starting out. Add to this the fact that matched betting seems to have its own language, it’s downright confusing! So this guide to common terminology will help you make sense of it.

Acca Catcher
  • A brand new piece of software recently launched by Profit Accumulator to help find matching accumulator bets (see below).
Accumulator 
  • You will also see these referred to as  accas. This is when you place a number of different bets on a series of matches or races. If all of the bets win, all of the odds will be multiplied together.
Arb
  • An arb is when the back bet odds are higher than the lay odds available. You can make money by placing these types of bets. However, bookmakers don’t like you making these bets unless they have purposely enhanced the odds, for example as a special offer. So it is best to avoid making these types of bets. This means avoiding any bets on the oddsmatching software with a rating of 100 or more.
Back
  • To back a bet means to bet that your selection will win. For example, “I bet that Andy Murray will win Wimbledon“, or “I bet that the horse ‘Sandy’ will win the horse race“.
best odds guaranteed / Bog
  • A bookmaker will pay out at the best odds that were offered on that specific horse or match. This means that if you back a bet at lower odds and it wins, then you will get an additional bonus of the boost in these odds in your payout at the bookmaker site.
Betting exchange
  • A site that allows you to place lay bets. The betting exchange matches back and lay bets up at the same odds, and effectively connects you electronically to people who are backing the same event at the same odds.
Bonus
  • Funds awarded to you by a bookmaker with which to place bets. These are different to a free bet because you can usually keep the bonus amount.
Deposit
  • Paying money into your accounts which is then available to place back or lay bets.
dutching
  • Using a different bookmaker rather than a betting exchange to cover all the possibilities of a betting outcome. This is a more specialist technique for more advanced matched betters.
eachway / ew
  • A bet that will pay out winnings for runner up positions, such as finishing in the top 4 in a horse race.
extra place offers
  • Offers when the bookmaker will pay out for additional runners up when you place an each way bet. More advanced matched betters often make extra money by backing these types of events.
Free bet
  • Money given to you by a bookmaker with which to place a bet.
Gubbing 
  • If a bookmaker thinks you are taking advantage of them simply for the free bets they offer, they can limit your account. This is known as gubbing or being gubbed. They can stop awarding you free bets or place significant restrictions on how your account is used.
in-play bets
  • When you place a bet when the game or match is live.
Lay bets
  • When you bet against something happening. For example, “I bet England won’t win“, “I bet Tottenham won’t score a goal in that game“.
Liability 
  • This is the amount of money you will lose if the lay bet loses. When you place a lay bet, you are essentially matched up with a customer who is backing the same bet at those odds. If their bet wins, you need to pay them what they are owed. However, remember that when a lay bet loses, your bet will win the bookmaker account. So the money that is deducted from your betting exchange account will always be added to your bookmaker account where you placed the back bet.
Lock in
  • Special methods that help you secure a profit no matter what the outcome. This is an advanced technique normally used if free bets are dependent on a certain outcome.
Match catcher
  • This is a piece of software developed by Profit Accumulator to help track back and lay bets for horse races which have special offers associated with them.
Mug bets
  • When you start using the same bookmaker for different offers, it is advisable to look after your accounts so that you look like a normal customer. If you only ever place bets that are associated with offers you may have your account gubbed. This would stop you being able to continue making money matched betting. In the matched betting world, normal customers are known as “mug customers” because invariably you will always lose when gambling. It’s not the nicest term is it? One method to look normal is to place mug bets where you don’t stand to gain anything from the bet. You’ll always need to lay these off to ensure you don’t lose any money.
Odds 
  • Odds show the ratio you will be paid if your bet wins. In the UK, odds are normally expressed in a fractional format, e.g. 2/1 or 9/2. The latter number represents the amount you bet and the first number shows how you much you will win if your bet wins. So, at odds of 2/1 for every £1 you bet you will win £2. At odds of 9/2 you will win £9 for every £2 you bet. In matched betting you will use decimal formats for odds, which shows you the amount your bet will be multiplied by if it wins. For example, 3.0 or 5.5. You can use Odds Converter to work out the different formats.
Oddsmatching
  • The software used by Profit Accumulator to help you find back and lay bets at close odds.
overlay
  • When you place a lay stake at a higher amount than would normally be suggested by the calculator. This is sometimes used by advanced matched betters.
Price boost / enhanced odds
  • Bookmakers will sometimes have special deals offering enhanced odds. If these odds are higher than the lay odds you will can make a profit simply by backing and laying on that match. This is an advanced technique so you shouldn’t worry about this at first.
Qualifying loss
  • The small loss you will make when placing your qualifying bet, taking account of any difference in odds and commission payable to the exchange.
Reload 
  • Reload offers are the ongoing offers that bookmakers offer to keep you betting with them. Once you have completed all of the sign up offers, this is how you continue to make money from matched betting in the longer term.
Rollover
  • The number of times your free bet or bonus might need to be placed before it is possible to withdraw money from the bookmakers.
Settled
  • When your bets have been completed, e.g. the match or race has finished, they will be settled.
Stake
  • The amount you need to bet.
SNR 
  • This stands for stake not returned. You select this option on the calculator when making the calculations for free bets which don’t return the stake.
sp
  • This stands for starting price and refers to the odds at the time the race or match gets underway.
underlay
  • When you place a lay bet at a lower amount than would normally be recommended by the calculators. This is an advanced matched betting technique.
Unmatched bet
  • When you place a lay bet at a betting exchange, you will notice a figure at the bottom of the pink lay box which also shows the odds. As explained above, a betting exchange is a place where back and lay bets can be matched at the same odds. This figure shows the maximum amount of money available for you to place a lay bet at the odds shown. If you exceed this, this part of the lay bet will be unmatched.
Wagering
  • Conditions attached when placing qualifying bets. For example, there might be a minimum odds requirement or a certain number of bets that need to be placed.

If there’s any other betting terms still confusing you, then let me know. I’ll be happy to decipher them for you.

Blog enabling you to enjoy more freedom working from home matched betting using profit accumulator

Top Tips For Getting Started With Matched Betting

8 Comments

So, you’ve read about matched betting and signed up for Profit Accumulator’s free trial. You’ll be told how to place your first few bets step by step. But actually doing it is another thing. Here’s a few top tips to help you get over that first hurdle:

  • Read the training documents thoroughly. Also watch and listen to the video tutorials on Profit Accumulator several times before doing anything else. There’s a lot of information to get your head around and you really need to understand what to do before getting started. It can be tempting to just get going. But this is when mistakes can happen.
  • Print out the instructions. I found it helpful to print out the instructions when completing my first few offers so that I could tick each stage off as it was completed. After you’ve done this a few times it will become very easy and you’ll be able to place the bets without thinking too much about it.
  • Have a dummy run. Find a suitable bet and where you need to back and lay the bets on the relevant websites. Instead of actually placing the bets, write the information down and then track what would have happened to your money when the match has finished.
  • Check the odds are correct before placing your bets. Odds fluctuate up & down and can therefore be different by the time you log in to your bookmaker and exchange account. If they are different then don’t place the bets because the calculations will be wrong. You will either need to find a different bet or enter the revised odds into the calculator to work out how much you need to bet.
  • Also check the figure listed under the pink lay box at the betting exchange before placing any bets. This is the maximum amount you can bet at those odds. If you need to place a larger bet, then look for a different match.
  • Stick to high profile football – e.g. the Premier League – for your first few bets. The odds are more stable with bets on these games and there will be more money in the market meaning it’s likely that the limits you can place on lay bets will be higher.
  • Don’t bet on obscure matches. Bookmakers are wise to people signing up to take advantage of their offers. You’re going to stand out like a sore thumb if you sign up and start betting on second division Japanese league games.
  • Make sure you have enough liability in your betting exchange account to place the bet. This is the amount you will lose from that account if the bet wins at the bookmakers. Remember you will not lose this money because the money will instead be put into your bookmaker account as winnings. Think of it as the money transferring between your accounts.
  • You will normally need to confirm both your back bet and lay bet after they have been entered. Make sure you press this button otherwise your bets won’t be registered.
  • Check the figures before confirming your bets. Have you placed the correct amount for the back bet with the bookmaker? And are the lay bet and liability the same as the calculator tells you? If there are differences of more than a few pennies or so, then double check the figures you’ve entered are correct.
  • Track your money and bets. Keep a note of how much money you’ve deposited, what bets you’ve placed and how much money is in your accounts after the bets have settled. It can get complicated the more bookmaker accounts you open but there are lots of spreadsheets available to help you keep tabs on how much money you’re making!
  • Take your time. Once you’ve placed your first few bets it can be tempting just to crack on and make money as quickly as possible. Once you’ve mastered the matched betting process, you’ll realise it’s actually very quick and easy. But that’s when you can get complacent and are probably more likely to make mistakes. Always double check your figures before placing any bets and make sure you confirm all of your bets.
  • Treat matched betting like an investment. Build your pot up before you start withdrawing from it to allow you more flexibility to place bets and grow that pot of money even further.

Finally, enjoy it! It’s satisfying seeing your money grow. You might even get a new interest in sport. I’m not an avid sports fan but I do find my knowledge of sports has increased substantially in only 3 months and I’ve surprised myself in just how much I now know. My husband also likes the fact I now have a genuine interest when we’re chatting about the footie results!

Share This: