Matched betting

[bodnobal]

Now that I am benched, can I survive on doing this for a few weeks or have the bookies sussed it and the most I can make is £9.97.

[Pondlife]

Are you talking about arbitrage?

Not sure why anything would be limited to £9.97 in the betting world

[gingerjedi]

Now that I am benched, can I survive on doing this for a few weeks or have the bookies sussed it and the most I can make is £9.97.

Up the stake shirley.

[conned tractor]

Made a few hundred out of matched betting a while back when i was at uni. Taking advantage of the offers given by the bookies was easy for a while but when you have exhausted the easy offers it gets harder. i.e. in order to cash out you had to rebet the money made from the offer at least 3 times and some offers are stake not returned. Not sure on current situation as haven't done it for ages.

Also a bit dangerous if laying a low odds bet as although you only stand to win only a small amount your liability if it comes in can be huge and I remember reading some horror stories. Also made a similar although not as extreme mistake myself once although it came in in my favour - so lucky there.

Some people claim to have made tens of thousands doing it - plus the arbs, but I don't think it would be worth it really for the time they must put in.

[Pondlife]

Also a bit dangerous if laying a low odds bet as although you only stand to win only a small amount your liability if it comes in can be huge and I remember reading some horror stories. Also made a similar although not as extreme mistake myself once although it came in in my favour - so lucky there.

Some people claim to have made tens of thousands doing it - plus the arbs, but I don't think it would be worth it really for the time they must put in.

high surely

i.e. you lay 10 at 40/1 your liability is £390 but you stand to make a tenner if the nag loses.

The issue is that you have to manage finding a nag that can't win vs the risk of paying out on such a no hoper.

Outsides do come in quite often if you bet on enough races. You just have to hope it wasn't yours.

[conned tractor]

high surely

Thank you.

[Moscow Mule]

Friend of a friend does arbitrage on betfair as his full-time job. Does very well out of it IIRC.

[Pondlife]

Friend of a friend does arbitrage on betfair as his full-time job. Does very well out of it IIRC.

You are essentially betting that one of the outcomes is over/under valued which means it's a punt. Plus you have to watch "in play".

My old housemate swore that it was a winner. He used to sit there in the lounge with the tennis on, glued to his laptop, constantly betting and chasing and by the end of the night he'd made £4. In his eyes it was £6 as he hadn't paid tax on it.

When I got back from the pub I'd point out that the guy who sold me the fried chicken I was now devouring had made considerably more in the last few hours.

[Moscow Mule]

You are essentially betting that one of the outcomes is over/under valued which means it's a punt. Plus you have to watch "in play".

My old housemate swore that it was a winner. He used to sit there in the lounge with the tennis on, glued to his laptop, constantly betting and chasing and by the end of the night he'd made £4. In his eyes it was £6 as he hadn't paid tax on it.

When I got back from the pub I'd point out that the guy who sold me the fried chicken I was now devouring had made considerably more in the last few hours.

Well, I don't know exactly how he does it, but I'm pretty sure he makes more than £1 an hour

[Bunk]

If you do it properly it should be no risk. You're placing a bet and laying a bet on a 2 horse race at favourable odds. The problem is that the margin is so small you need to be doing it with thousands to make any real money. Most horror stories are about people who didn't realise there was a 3rd possible outcome, which they didn't back.