Welcome to the real matched
betting blog. I started this, so I could
inform you of the progress through my matched betting journey. I also thought that if I had to maintain the
blog it would spur me on to do more offers.
As of the 18th December, 2016 I have made £1,300 in four months, working out at
£325 a month, however I must stress that this has not been earned evenly over
the period. To achieve this outcome I
have opened three bookmaker accounts, and, two exchanges (more about these
later). As of now I have been stake
restricted by two of the bookmakers, and, one of the sportsbooks on the
exchanges.
So what is matched
betting?
Matched betting is using the
offers provided by the various bookmakers to extract a profit from the
bets. By placing a bet with a bookmaker,
and, then another with a betting exchange, we can effectively guarantee a
profit whatever the outcome of a sporting event. If you are new to matched betting then you
are going to view the last sentence with some incredulity, and, doubt, but I
can vouch that it is true, as you can see from the profit I have made to date
outlined in the first paragraph.
Is it Risk Free?
Most sites that talk about
matched betting usually state that it is “risk free”. I personally have a slight issue with the
term “risk free”. I prefer to say that is more a controlled or mitigated risk
activity. What I effectively mean by
this is that by taking certain steps or actions, the risks can be minimised or
eliminated. The following are the
principal risks:-
1.
Typing
in a wrong number for a bet. Now don’t
shudder too much but I know of a person who meant to type in the figure £5.03,
but instead missed out the decimal point and input £503, which unfortunately
led to them losing around £460, instead of the guaranteed £4.93 they were
expecting. This risk can be mitigated by
being careful with your number entry, and, double checking everything.
2.
Failure
of the electricity supply / broadband service.
If you are in the middle of placing your bets, and, this happens without
completing everything, it could leave you with an expensive losing
position. In this instance you will need
to ensure that you have your mobile devices fully charged, and, have an
alternative internet source of say your mobile phone provider.
3.
Failure
of bookmakers / exchange websites. Again
this can leave you on the wrong side of an expensive losing bet. You need to make sure you have opened more
than one exchange (most people do this fairly early on in their matched betting
carer) available to you, so you have alternatives to turn to. In addition sometimes when a website goes
down on say a personal computer, it may be still available on a mobile device,
so it is worth having this option available.
4.
Forgetting
at which bookmaker you placed certain bets, and, therefore missing out when
free bets are awarded. Now this may
sound odd, but I do know of people who couldn’t remember what bookmaker they
used. Most free bets expire after a
period of time (usually days), so if you miss out in utilising them it is going
to effect the amount of money you make.
You need to keep records. These
do not have to be complicated, but you need to know the reason why you placed a
bet. Records can either be kept using a
spreadsheet or in a notebook. Remember
if you use a spreadsheet, back it up to a memory stick (just in case!).
I hope I haven’t scared you
with the above points, it is not my intention.
I am just trying to ensure that you are careful. Let’s face it if you are prepared for these
eventualities they will probably never happen.
Who is matched betting
for?
Well the easy answer is that
it is for everyone. However, you do have
to be organised, and, methodical. In
addition you need a starting float, which can be from £60, but it has to be
money that you do not need in the short term.
This is not because you are going to lose it, but that it may take time
for it to be repaid from the bookmakers, possibly between 7 to 10 days. You also need to devote a certain amount of
time to placing the bets, with one of the busiest times being a Saturday.
So there is my first instalment
on the blog. My next articles will cover
the mechanics of starting, and, I will update on the progress of how much I
have earned, so keep on checking back.
You can also follow the twitter account I have set up @realmbi
Stay tuned.