Anyone ever done this? I’m 2 weeks into a subscription for lay betting where you use free bets to make money and I’m almost £200 up in 2 weeks. No lose guaranteed You back an outcome (horse racing or footy or most others) and lay a bet against that outcome on a betting exchange (Betdaq, betfair etc) and you make guaranteed money!
Really isn't mate - You never make massive amounts, but for each £10 free bet you are guaranteed to make around £8 or £9 You have to place a £10 qualifying bet where you will likely lose up to 40 or 50p but then you use the free bets with the sites to make the bet and use the exchange to bet against the same thing (it tells you all about how to do it) It's at the point where I am now buying my family members details off them for £100 to use as sign up offers!!
Isn't the catch that, if you lose, you end up paying the winnings, which might be more than the stake? I'm no gambler either. In fact I've only been in a betting shop once in my life, but no bookie is going to offer something where you are just going to make money off them.
Yes and no - you place a bet with a bookie (free bet) say for £10 (I've backed Man CIty to win 3-1 tonight) - odds were 12/1. You then bet against that happening (any other score) on the exchange (odds were 12.5/1) the system told me to lay £9.86 against that odds - my liability ont he exchange is around £111. So if City win 3-1, I lose £111 on the exchange - but I win 120 from the bookies (£9 profit) if the score is not 3-1 to City, I lose my free bet but make a £9 prpofit on the exchange - so I am £9 up either way
Read quite a bit on it but the money making potential isn't what it was when it first became a thing. Think it's too much effort for the reward concidering the serious money that was originally in it. You're quite right Marcus, it's not betting as it's no lose if done correctly. Sent from my Moto G (5) using Tapatalk
But if City do win 3-1, you have to pay the bookie £111, even though that's much more than you put down?
Out of the bookies hands mate. You use bookies and their sign up offers and lay it off against them on the matched betting site you use(which is not a bookie). It's more complicated than that which is why bookies haven't scrapped their sign up deals as not enough people are actually doing it to put them remotely out of pocket But basically if your bet with the bookie comes in you win off them, if your lay off with the matched better comes in you win off them. On the whole, thanks to matched betters subscriptions and the bets they win, everybody wins but the bookies(but they still stand to lose more by scrapping their sign up deals) Sent from my Moto G (5) using Tapatalk
Yes, which is why the lucrative part wears off quick when you run out of accounts and bookies to join and have to start paying people to open accounts for you like Marcus is doing. But the match better informs you which bookies are doing compatible offers beyond your join up offers but they don't come as thick and fast as they once did. Champions League specials and such like Also, if a bookie suspects you they will ban you. So best to use them for normal betting too so you have some kind of loss history. Personally, I don't think 200 quid in two weeks and finding you're in the position to have to pay people to open accounts for you is worth it. However, if you have the time you can build a steady but small side stream of revenue. Sent from my Moto G (5) using Tapatalk
I get it now. Yeah, seems like too much hassle for me. I don't gamble anyway so I'd get found out pretty soon too!
Laying bets can pay a fortune if you can afford to lose. You could have went on Betfair this season and offered 10/1 on every SAFC opponent, you set you’re own liability, so let’s say you’d said ‘I’ll hit £500 in’. People will take 10/1 all day, even if it’s couple quid bets you will easily get your £500 of stakes in. We’ve played 27 games and lost 2. You’d have 25 x £500, so you’ve made £12,500, tax free in 6 months. £200 in 2 weeks isn’t worth the hassle for me. I did lag betting once when we played Liverpool at home (2-2 draw) and made about £600 I think it was. It was stressful as **** though, as I said it was money I could afford to lose but £600 is a kick in the nuts. I closed Betfair account after that as I thought it could become addictive taking so much on a single, effectively. The way to ramp it up is take that £200 and offer daft odds on near certs, and hope enough people have small punts to double you’re lay. There’s a lot of people make a living of it. As Bri says though, drop in the ocean to what bookies make. Bookies like big winners, good PR. The underbelly of betting is daft lads betting their last fiver on 10 golds, that’s the bookies bread and butter. I feel like I win a lot of bets but my SkyBet profit/loss was plus £700 last year. You don’t notice when you lose a fiver and that’s how bookies always win, as most people lose.
No if City had won 3-1 I had to pay the exchange £111 but I would've won £120 with the bookie so I'd have been £9 up still
Not quite - the site I'm registered on has the new customer offers then the bookies will give you rebuy offers where they offer you money for not betting with them if you place a single bet - kind of like being a new customer - there's about 2 years worth of stuff on there - if I can make £100+ a week tax free over the next 2 years (and have had no stress at all so far) then I'll be happy
