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!