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
