matched betting/casino bagging

[BANGKOK RED]

I might do it "On paper" at first, to make sure that I know what I am doing before I commit any cash.

[Simon Pieman]

I've done a similar thing with poker, there's always sign up and redeposit bonuses about.

I just don't have the time to play sensibly enough to make a decent profit though.

[Samdy Gray]

It's complex, but involves both placing and laying a bet on the same outcome. That way, you fulfill the qualifying requirement to gain the free bet and you break even.

Say you bet on Team A to beat Team B at 2/1. You place a £10 bet on Team A and also lay £10.

So if Team A win, you win £20 (£30 minus £10 stake) and you also lose £20 on the lay. Break even.

If Team A doesn't win you lose £10 on the placed bet but win £10 on the lay. Break even.

Now the profit is made by using free bets, so use the example above but using a free bet:

Team A win, you win £30, you don't take off the stake because it was free. You also lose £20 on the lay. £10 up.

If Team A doesn't win you lose £0 because it was a free bet but win £10 on the lay. £10 up.

It's more complex than that because you never get identical odds on placed bets and lays (well, maybe on very rare occasions) but you can mostly guarantee 75% to 95% of the "free bet" as your winnings.

[strooood]

yep it involves laying at betfair and betting at different bookies every time to gain their free bet sign up offers.

the skill is involved in finding matching odds to maximise profit.

[Samdy Gray]

Strooood, there's a guy on the moneysavingexpert forums who's constantly finding arbs.

[strooood]

i've had a few but the commission you pay at betfair pretty much cancels the 'profit' aspect of them.

[Northern Red]

I've done it once and it's easy...

Opened a Ladbrookes account (Payed in £20, they matched with £10) - opened it through Quidco which is a cashback site which payed me £20 once i'd made three bets.

Opened a Betfair account (Payed in £50, they matched with £10) - again through a cash back site awaiting £25 for signing up.

Bet on three football matches at ladbrokes (£10) and matched the bets at Betfair. The three matches won which was irrelevant, cos either way I'd have won.

Withdrew £47 from Ladbrookes (my £20 + free £10 + £17 winnings) and £44 from Betfair (my £50 + free £10 - £16 losses) = £91 profit from my initial £70 outlaw.
Plus I've got £20 from Laddy's in my Quidco cashback account and am due another £25 from Betfair (which might not be coming).

Either way cash in hand today - I've paid out £70 and have £111 back. £41 for about a half hour's work on the internet.

I'll be doing it again when I get the chance.

[DMR]

To be honest this sounds like a lot of fucking about for a few quid. Why not just go down the bookies the good old fashioned way  

[strooood]

To be honest this sounds like a lot of fucking about for a few quid. Why not just go down the bookies the good old fashioned way  

thats exactly what i thought at first.... but it really isnt alot of work if u have 2 brain cells to rub together.

basically the time spent doing fuck all is now spent earning pure profit, topping up the old overdraft in the process.

[Bushey Boy]

Does that mean you can finally pay back some beers strood?

[DMR]

I might have a crack at it then, suppose once you get used to what you're doing it's easy(ish)?

Especially as I shall be rejoining the student ranks come Sept.

[strooood]

Does that mean you can finally pay back some beers strood?

absolutely not.

[Simon Pieman]

So do you have to sign up to loads of bookies to get free bets? What happens when you run out of bookies? Can you just open another account because I didn't think you were allowed to do that

[strooood]

So do you have to sign up to loads of bookies to get free bets? What happens when you run out of bookies? Can you just open another account because I didn't think you were allowed to do that

only one bet at each bookie. but type in free matched bet into google and see how many results you get.

[Simon Pieman]

Sweet. I will give this a go. When my exams are over I am planning to re-learn how to play poker properly again as well.