RIT wrote:If you want to carry on receiving reloads in the future from Bet365 I would give this a miss SteveSharpe.
I've read about people hammering this offer and getting banned from it. I was thinking of making 1 bet a week for a bit of extra profit. Do you know if there is a maximum stake Bet365 will match as i couldn't see one in their terms.
This week I made £11.96 from a £100 bet. I figured If I do 1 £250 bet then it would be like having an extra £25 SR bet weekly.
This story seems a bit suspect to me. As one of the comments says "you cannot lay a horse for £1.5m @ 6-4 (2.5) with Betfair because every time you placed a lay bet for a few 1000, the price would move down until it reached 1.01. If you decided to wait for the price to return to 6-4 (2.5) the race would have started."
I don't really believe the story but I don't get how this would force the price down. If you offer £1m at odds of 2.5 then that is the odds on offer to all backers until that £1m has gone or someone offers higher odds. The odds are driven down when demand outstrips supply, not the other way around.
I'm sure their are people who've made millions out of Betfair, but not using this system. If you've ever tried trading tennis in play the money matched reaches millions and in the French open final I seem to think £14m was traded in total. I traded about £300 in £20 bets so never risked more than £20 at a time, so someone with a bigger risk tolerance could easily trade £30,000 in £2,000 bets or even £3m in £200,000 bets (The liquidity is their in big games to do this)