Matched Betting Mistakes:
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I have some great wisdom to share with you today. I’m taking a trip down memory lane, to advise you on what I wish I knew about Matched Betting… before I ever started. You can call them Matched Betting mistakes, because if I knew about them… I’d have made more money.
We will all make rookie errors, but the important thing is that you learn from these. Whether it’s laying before you back, or entering the details wrong on the Matched Betting Calculator.
I’ve shared 7 of my greatest tips, which are things that can help you iron out any mistakes & maximise your profits.
If you’re just starting Matched Betting, this post will be a goldmine. You’re welcome!
If I knew these 7 things when I started Matched Betting, I would’ve made a lot more money!
You don’t need to complete every promotional offer.
It’s perfectly fine to look at an offer I post and leave it alone! I post all offers which I have found that are +EV, meaning profitable. However, they aren’t all Risk Free, especially with offers where the refunds aren’t guaranteed, bets like Double Delight/Hat Trick Heaven, where you have to take around a 10-20% qualifying loss, with no hat trick guaranteed. Another example would be a slots promotion, say spin £50 worth and get 50 spins. If you cannot afford a potential £50 loss, simply don’t start it. Also, If you don’t think it’s personally good value, leave it!
There are also other contributing factors other than not being able to afford the swing of a potential loss. It’s very easy to see a promotion that’s worth (e.g) £4 and think it’s not worth your time. Or, It’s too much hassle to deposit money into a bookmaker just for a couple of quid! Fair Enough!
I cannot force you to place these bets, it’s ultimately your decision.
I only post promotions that are mathematically profitable, but they aren’t always risk free.
You will lose some of your accounts
Losing accounts is unfortunately part of Matched Betting.
There are many ‘theories’ about how to keep your accounts open, but nothing is guaranteed to work.
My first promotion restriction hit me quite hard, I actually tried to place bets like a Punter over a 6 month period, to regain access to promotions, but it didn’t work. It doesn’t matter how well you look after your accounts, or how much money you’ve lost from your bookmaker accounts, or even how many mug bets you have placed, it will happen.
Bookmakers don’t want Matched Betting customers, as we take all of the value from the bets and promotions.
Tick the ‘punter’ boxes for the bookmakers.
This isn’t a physical box to tick, I wish it was that easy! Also, this kind of contradicts the above point about gubbings.
Although you can lose access to bookmaker promotions, I also believe you can increase the longevity of your accounts by following a ‘Punter guideline’.
The most popular types of bets are:
- Football Bets in the European Leagues. (Mainly England, Spain, Italy, France, Germany)
- High Profile Markets. Match Winner, BTTS, Correct Score etc.
- In-Play bets.
Horse Racing seems to cause the most issues, as Matched Betting promotions mean we are often taking a price far higher than the Starting Price, meaning the bookmaker isn’t making any money! Bookmakers aren’t happy if they aren’t making money!
Using a Paid for Subscription is worth it
Use our Forums to learn from the Matched Betting Experts
The Forum is the best place to be at, you can gain knowledge from all of the seasoned pro’s. Not only this, but they also share offers they have found, best ways to approach offers & they also let you know what profit they have made! Nothing like a bit of healthy competition!
As you can see, having to fully complete the wagering can affect the profits, it’s always more profitable to lose bets and win lays!
Mistakes will be made
At some point during your matched betting career, it’s highly likely that you will make a mistake. I have made a few mistakes myself, one where I actually made a profit from it!
I backed and laid two different horses, the one I backed won & the one I laid lost! This was great but I realised I was so lucky, had the events been opposite I would have lost hundreds.
Not all mistakes are financial, you can also make mistakes on your bet tracking, if you forget you have money in a bookmaker account. Saying that, it feels great when you log in and find £300 you didn’t account for!
Don’t get demotivated, you’ll soon make for any mistakes you make.
There is a method where you can ‘preserve’ bonus funds, allowing you to earn more.
This is called Underlaying – click here for my blog post on this. I summarise below too.
What Is Underlaying?
Underlaying is a vital technique to learn, something which can ensure maximum profit from rollover terms.
Underlaying a bet adjusts your lay stake, so that if the bet wins with the bookie, you get more profit.
However, if the LAY bet wins into the exchange, you get less profit.
When Do I Underlay?
My rule is simple. If the ideal result is the LAY bet winning, into the exchange, underlay the bet.