Matched betting help/advice wanted

    • bradomurder
      bradomurder
      Bronze
      Joined: 17.10.2008 Posts: 1,329
      Hi

      A couple of months ago I got into this system called "Matched betting" it works like this:

      1. Set up an account on a betting exchange
      2. Set up an account on a online bookie site that offers a good first deposit bonus
      3. Bet on that site, laying all your bets on the betting exchange to clear the bonus
      4. Withdraw the profit

      So ideally what happens is you lose a small % each time you bet on something and lay the bet on a different site but as long as the bonus roll-over requirements aren't too high you make an overall profit on the bonus.

      Initially I had success doing this, not big money but a low risk and very easy way to make a quick few hundred, I thought it might be a good way to get into sports betting too

      After a few successful runs and a bit of profit I got a bit careless and mis-read some of the T&Cs on one site and got stuck. The way it works (the part I misread) is that once you get the bonus you have to roll it over a ridiculous number of times before you can withdraw not only the bonus but any winnings you've made in that time.

      As luck would have it, all the bets kept winning on the bookie side and so the money on the betting exchange all travelled that way.

      Before xmas I tried to make a withdrawal but I find the money trapped and to extract it I need to rollover about $5000 in bets to clear $400. I can't do it by laying all my bets because the % lost each time would eat it away, I don't know even close to enough about sports to beat the system the old fashioned way and any crazy martingale system or even straight out betting with the money is so unlikely to win over that many bets that it's not even worth attempting.

      I feel like it's a long shot but has anyone got any miracle advice for me on this issue? Would greatly appreciate it
  • 2 replies
    • pobe27mo
      pobe27mo
      Bronze
      Joined: 22.01.2011 Posts: 13
      The best way to do this, if you have no more money available to match the other side of the bet (if you have you can dutch it at another bookie rather than at the exchange) is as follows.

      You have to bet the $5000 in as many as realistically possible even money bets (odds of around 2.0), say at least 25 or ideally 50. Check the odds on the bets you take are not too far away from the price on the exchange, say at least 1.90 if the exchange odds are 2.0. If you were to do this, on average, you would lose about half of the bonus, however, variance obviously means you could lose more or less. If you have no other money to cover the other side of the bets, this is really your safest option.

      If you have other money then you have to learn dutching.
    • ChangNoi77
      ChangNoi77
      Bronze
      Joined: 27.06.2012 Posts: 352
      I've done all this before, and when I made a new bank account at my parents address after arriving back from Thailand I thought I'd do them all again, only this time, the same as you, the three legged rocking horses I was betting on kept on winning. Bet365 allowed me to withdraw though and cancel all the bonus.
      You need to be careful which offer you take. The free bet is the safest way. Deposit bonuses generally have to have a huge rollover, which as you've found out needs a bigger bankroll than expected.