could matched betting be used to raise money?

[robjones262]

Hi All,

I've been doing a few fundraising events over the years but although the mind is willing the body is becoming increasingly weak (and the allure of the pub is getting stronger and stronger!!) and so I’m looking for new ways to continuing to donate.

I'm no gambler (and never will be!!) but a friend of mine does this thing called matched betting where you use the free bets that bookies always seem to be offering to make a guaranteed return. Although he's a friend I’m a bit sceptical as it sounds too good to be true and I wondered if anyone had any experience of this?

I’m wondering if this is a way to raise money that I could then donate???

I know that this area has been discussed in the guardian and there are a few sites (matchedbetting, freebetsforall, Fixtheodds etc) that claim to help you do this.

Any thoughts or comments gratefully received.

Cheers
Rob

PS. i've posted this on a couple of forums so will add in any interesting comments received elsewhere.

 

[XP-era]

Matched Betting is not always going to give a return, if you are taking part in such things then there is always a risk involved.

If there was a 100% return, or more with `winnings` lets say, the bookies wouldn't be making any money, and this system would not be run.

I would take the time to look at different types of ways to raise money to donate.

Gambling, even if in moderation can still cause problems.

 

[robjones262]

Hiya,

Cheers for the warning ...it's a good point and i'm not a gambler by any strech of the imagination and don't intend to start now! Interesting article about this in the Telegraph today - if bookies are prepared to pay £300 to recruit new users then it kind of makes sense that they'd happily offer a few free bets... out of interest,since my last post i've done a few offers and 'won' (or raised) about £123....

so far so good - will keep posting!

 

[akirk]

toddle over to the money savings expert forums - there is an entire forum on how to do it - spreadsheets to analyses - step by step instuctions and a 5 year diary from someone who did and made £50k+ during that time

if you follow their instructions you can not lose money - the principle being simple

if you bet £10 with odds to win £20 you get £30 back - your £10 & £20 winnings.
the book maker loses £20.

so you bet £10 to win £30
at the same time on another website such as betfair you lay the odds (i.e. you are the bookmaker) at the same amount...

therefore if A wins you get £20 winnings and your £10 returned and on B you lose £20
total profit = £0

if A loses you lose your £10 but win £10 on B
total profit = £0

so how do you make money - simple!

you use the free bids to do it:

now if A wins you get back £30 on A (their £10 bid & £20 winning) and pay out £20 on B therefore win £10

if A loses you lose their £10 but gain £10 on B

net gain either way of £10

that is the principle - there is more complexity as the odds may not be identical on both / you may have to bet the money through several times to extract winnings / you may be able to bet but not extract money on A, in which case you look to lose with their money on A to win on B etc.

but yes - works

whether it brings in a better income than you could get from using your time elsewhere, not sure...

Alasdair

 

[JohnnyCash]

Matched Betting is not always going to give a return, if you are taking part in such things then there is always a risk involved.

If there was a 100% return, or more with `winnings` lets say, the bookies wouldn't be making any money, and this system would not be run.

You can only sign up and take advantage of the free offers once, so the bookmakers are banking on you making a mess of your free bet, or winning it then losing the proceeds anyway.

You can make some money from the free bets without risk, but once you go through all the bookmakers that offer it, unless you are willing to move house and open a new credit card, its game over.

I done this a long time ago with all the bookies that would let me, I can't remember exactly how much I made but it was a few hundred pounds. It took me a couple of days, but well worth doing if you're young and have no money, which I was at the time.

 

[akirk]

You can only sign up and take advantage of the free offers once, so the bookmakers are banking on you making a mess of your free bet, or winning it then losing the proceeds anyway.

You can make some money from the free bets without risk, but once you go through all the bookmakers that offer it, unless you are willing to move house and open a new credit card, its game over.

I done this a long time ago with all the bookies that would let me, I can't remember exactly how much I made but it was a few hundred pounds. It took me a couple of days, but well worth doing if you're young and have no money, which I was at the time.

True, though as I understand from the MSE forums a lot of sites are now offering repeat offers - certainly the diary on there suggests someone who had over 5 years doing this - never done it myself, but it would suggest that there is a way to do it...

Alasdair

 

[JohnnyCash]

True, though as I understand from the MSE forums a lot of sites are now offering repeat offers - certainly the diary on there suggests someone who had over 5 years doing this - never done it myself, but it would suggest that there is a way to do it...

Alasdair

The problem with money saving forums, is often the users place no value on their own time. I bet if you created a thread on MSE showing a way to get a "free" £17, but took 12 hours to do it, they'd be all over it

Some of the bets is a whole lot of messing about to guarantee yourself £10 or so.

 

[akirk]

The problem with money saving forums, is often the users place no value on their own time. I bet if you created a thread on MSE showing a way to get a "free" £17, but took 12 hours to do it, they'd be all over it

Some of the bets is a whole lot of messing about to guarantee yourself £10 or so.

totally agree

hence my original comment:

whether it brings in a better income than you could get from using your time elsewhere, not sure...

but the OP said that mind was willing, but the body is becoming weaker - so perhaps that is less of a worry?

Alasdair

 

[SamWhittle]

It is a good way to make some decent pocket money (about £500 per month). I use Yesbets as it tracks your bets, balances and profits, which makes life a lot quicker and easier. You will need about £100 to get started, but if you use a service, it's easy to understand and a good way to make some extra risk free cash.

 

[Thermodynamic Man]

It is a great way to make some money from the bookies. I did it a few years ago and made just over a grand. Once the bookies bonuses are used up then you can go for the reloads that they do. if you have the time you can earn a grand per month without breaking sweat. It is a bit laborious with some of the deals mind. But the initial bookies bonuses can be taken out totally risk free with just a small element of risk doing the bingo, slots, casino bonuses later
You do not have to take my word. Sign up to moremoneyreview site or just type in "Bonus Bagging" and "Profit Maximizer" and you will see the thousands that have made free money from this. Just Google those products. So many positive reviews. if anybody is out of work and needs to get some money in per month then I would tell them just to go for it. Totally risk free
It will certainly help you donate.... just depends on how big you want your donations to be

 

[AG Consult]

With the reload offers it's a brilliant way to earn a decent second income. I've been doing it since June 2015 and I am now averaging around £800 a month from around 3 hours work per day.

It does become a bit tedious, but it's guaranteed no-risk profit. Which you don't see a lot of.

 

[Thermodynamic Man]

Exactly AG Consult. It's like there is money on the table just waiting to be picked up

 

[SamWhittle]

Some great reloads available for the Euros. If you haven't done this yet, now is a good time to get on it. I consistently make £500- £1000 per month in my spare time.

Source: Yesbets

 

[AG Consult]

Matched Betting has been on a downward spiral since I last posted in here back in Feb. Less and less offers and bookies closing accounts left right and centre - There is still money to be made but I am averaging around £300 a month compared to £800 a few month back,

Luckily loads of people have jacked it in which is good news for the people who have stuck it out and with the Euro's, Wimbledon, Olympics and the new football season in August, the bookies will soon be throwing offers out again

 

[SamWhittle]

I still think it's very lucrative and getting more so, but you need to be smart and use the tools to make it as quick and hassle free as possible so that you can get more done in less time. I still really enjoy it too and the extra £500 per month tax free comes in handy. I agree I can already see the euros and olympics being good earners! There's already so many offers on, more than I could take take advantage of so need to cherry pick.

 

[ethical PR]

What does any of this have to do with the original thread, you dredged up from six years ago @SamWhittle ?