First Qualifying bet

[SharpeShooter]

In an ideal world you would always lose at the bookie and build up your Betfair balance, but that never happens. As a beginner I would look to withdraw my money once I'd completed each book and move on. Now I tend to arb out any winnings for no loss, but that is for when you have a lot more experience and not to worry about now. I support Leeds and I NEVER back or lay them, superstition I suppose.

Looking at some of your posts I'm not convinced you have fully grasped the technique of matched betting. Did you back Coventry because you fancied them to win? (This would be wrong) or because they were the closest odds you could find? Also what odds and amounts did you back and lay? If you post the figures here either I or someone else will check them to make sure you're doing it right. It's better to have any mistakes (and you will make mistakes, we all do) corrected early on, before it costs you a lot of money. Also it's a shame you've done Bet365 as they offer a £200 bonus from which you can easily make £150 - £175 bonus

[mandrew]

I can understand you not wanting to back or lay your own team.

As for selecting which teams to back and lay, you shouldnt care who the favourite team is or what teams are playing, for me it's as simple as team A playing team B, the aim is to win money in to betfair if possible with the closest odds you can get, even an arb if you can.

That's the beauty of matched betting, you dont have to pick winners, all of them are winners! Your biggest frustration on a small float will be having money in the wrong place, not who won or lost.

[Mr anonymous]

I'd also strongly advise any newbie to try and never withdraw any winnings from bookies. Try and arb it out instead. By ensuring you are a profitable customer you're more likely to get maximum reloads and less likely to be gubbed.

I never thought about this, great idea.

[Admin]

I'm convinced this is why I get reloads but some of my friends don't. With someone like bet365 it is highly desirable to keep those £100 reloads coming in. They seem to do several every year and they are so arb tastic you make a few pounds every time as well. Combine this with their 4/1 horse racing £50 freebets and they are like a second income in my house ( nowhere near sharpeys level though). I would be seriously gutted if bet365 closed me down But why would they? Everytime I deposit with them, they eventually get it all back. I must look like a right mug punter who can't walk away when he's up
Moneyfor them and me. Everyones a winner! I do this at every bookie I possibly can now

[Ryanefc10]

I actually meant to back and lay derby in that match, but i made a mistake and backed coventry so therefore had to lay against them.

For a free bet ive read its best to find odds ideally at 7.0 or more, im finding it dificult to find odds like these on football matches, and find back land lay both close to each other. So if someone could help me as to finding the best odds, i'd be gratefull.

Also on bet365's 20pound bonus it says i have to bet 3x the bonus or something, so i cant withdraw til' i have, what am i best doing in these kind of situations?

Thanks.

p.s Sharpeshooter, thanks for beckford not to convinced he can produce the goods in the premiership yet though

[SharpeShooter]

Beckford hasn't got the control to make it in the prem. Good squad player for the cup maybe.

If your looking for High odds (Only on SNR bets so not bet365) you need to expand your Horizons. Look at correct scores and HT/FT. Use the odds matcher on the main site for suggestions

[Ryanefc10]

Hi guys. Finding it pretty hard to find a good bet to do for my free bet, ive looked at a couple of games, and different markets, but the betfair and bookies odds are usually about 1.0+ difference. Would this still be okay to bet on?

Also just to confirm, say a 25pound free bet, i put that on with bookies, but do i also put 25pound on at betfair, because i've read a few forums, were people have tended to put less on at betfair.

Thanks

[Admin]

What bookie are you doing? Is it a true "free bet" or a deposit bonus?
Odds differences of +1 can be good deals at high odds.

The amount you lay at betfair is entirely dependent on the odds in question. The calculator tells you how much exactly to lay to ensure you earn exactly the same amount regardless if which of your back/lay bets win. If you are laying a lesser amount this is known as underlaying and can be profitable under some circ's but it's not something I'd advise you to worry about for now.

I'm concerned you haven't quite got grasp of the concept yet. Play around with the calculator using different odds and changing the stake forfeit amount from zero (for normal bets) to matching your stake amount (for free SNR bets). Post what you propose to do here first and someone will check it for you (even if its just a practice run to help you understand).

We all took a while to grasp it at first - when you do it will be a eureka moment

[Ryanefc10]

so say if i was to my free bet, and for instance its 50pound free bet, and i find an match, say Chelsea Vs Stoke and i decide to back a FT score of Chelsea 4-0 at odds of 8.5 and say layed them for 9.2 (just made odds up), i'd be liable to pay £336 pound if it was 4-0 at betfair but i would win £375 at bookies, therefore making a profit of £40? My only worry is the amount of money going out of the betfair account, that kind of scares me the fact you will see say £400 in your account and seeing 336 of it being taken away, i know you will have won 375 at bookies, but then there is an inconvience of putting more money back in betfair, whereas ideally it would be best for you winnings to be accumalting in the betfair account (as i've read before in forum)

Sorry for asking as it will seem to non newbies, stupid questions, but i just want to make for certain before I do anything rash.

Thanks

[bull]

I think you are finally understanding the principles of matched betting
One of the problems has always been transferring money around if you win at the bookies. It's not much of a problem but more like say an inconvenience.
Usually on the free bet you will get closer odds than your example and usually the higher the odds the less likely you will win at the bookie.
Though this does happen it's less often than you think. When it does just withdraw from the bookie and transfer the money back to betfair when it clears. All you suffer is a little matched betting downtime.
Start with the smaller offers (£5 or £10) and your betfair float will slowly build. Don't try to do too many at once either.
Good luck!!
By the way betfair only usually offer correct scores up to 3-3 so 4-0 is also not a good example.