Started matched betting last week. Im a student with no job for the summer so thought i would give it a go and have already more than doubled my money(£200 to £450). Hoping to make a bit of cash before i head back to uni and enough for a nice long holiday with my girlfriend. Reading over this forum in the past week has been a big help, thanks.
It would be great if someone could give me a few tips on arbs. Im not out to make any money I just want to make 5500 Betfair points in the next two months to try for a PS3! Im just not sure if it is possible.
I plan to use any money I have have inbetween signup offers or when waiting for bonuses to be added to search for any non losing arb just to put money through Betfair.
Are the bigger bookies the best for arbs and is it best to just search through them manually(I have the time)? Im just not sure where to look.
Does anyone think this is possible/not possible or have any tips?
In terms of how to spend your time, you would be much better off signing up to new accounts and using the freebets/ cash bonuses rather than looking for arbs. With £450 you can make £50 or so each turnover without much trouble, depending where you win and if its card or Mbookers you can turnover the money in three days, probably two turnovers a week. So with that bankroll £100 a week profit week one, then actually it would grow and be easier and hedge the bets sensibly with a few underlays to factor in your favour for a betfair win and you will make enough to buy a PS3 outright in no time.
Basically, dont bother looking for arbs there is better things you can do with the time. IF you do really really want to just arb, my advice is to pick a few bookmakers and a few markets and study them inside out, know which sports arbs appear in there and then find out when the odds get put up so you get them first. Its not really worth just staring at the screen randomly trawling about hoping you stumble on something, you wont, any value will be taken by someone else long ago, you will hit the odd scraps now and then by chance, but its not an efficient use of your time. If you walk around your town centre looking at the floor you will find some change, its almost garunteed you see 2p here and 10p there, its not really worth while wandering around finding it though.
Get a Moneybookers account, stick the £450 into it, it is very very realistic to think you can turn it into £2.5k over the Summer without a single arb.
Have a plan and stick to it
Thanks for the advice and friendly welcome!
Just to clarify a couple of things. I am definitely here to make money! I was just wondering if when my money was sitting idle it would be possible to use it to rack up the betfair points. I am still doing lots of signup bonuses!
Thanks for the advice Andy. I think I will give up on the arb idea and concentrate on the signups. Will give me more time to sit in the garden.
Hi Any and welcome to the forum
Originally Posted by Any
5500 point equates to £550 in real/implied commission so that's roughly £11,000 you need to profit/lose on Betfair.
I think that's quite possible by trading on horses, that's the only way you'd get enough turnover going to generate that kind of commission on a relatively small float in a small period of time. I have to admit though it would be touch and go if you'd make it in 2 months, you'd have to be up and running very very quickly indeed.
The only way you'll get anywhere close to that would be to trade horses every single day, as many as possible, 20+ races ideally. You'd need to get your system down pretty quickly and know how to find the arbs, place them for no loss if they lose or large profit if they win, be able to transfer money very quickly using moneybookers.
It's actually quite enjoyable and not too hard to do either once you get into a rhythm doing the same thing day in and day out. The only drawback is that it won't last forever because you will find bookmakers will limit you severely once you've had more than a few wins with them - which is why it's imperative to underlay everything so you make nothing if the horse loses. You're also talking at least 10 hour days, but it's not hard work really, just takes a bit of dedication.
There's a bit of a knack to it, see my post on Bet365 enhanced odds for some ideas. I did post my 'system' for arbing horses ('system' as in how to find the arbs (basically use an odds comp site) and how to place the bets to minimize risk of loss) but not sure exactly where it is now since we moved from the old forum. Anyway... going way off topic for the 'hello' thread...
You get points at betfair for real or implied commission. Real commission is the commission you pay on winnings - so if you win £10, you pay Betfair 50p at 5% commission - that's 50p real commission which equals 5 betfair points. If you lose £10, then your implied commission is also 50p (someone else has paid 50p in commission for winning the £10 from you) - so again you'd get 5 betfair points.
Originally Posted by Any
See here: http://help.betfair.com/contents/ite.../index.en.html
Best to take this to the 'player support' questions thread though if you have more questions.
Nice to find so many like minded individuals all in one place. I've finally got round to registering after reading about this website more than once on MSE. Yes, another ex-pat from Martin Lewis, I'm afraid.
My name is Darren and I live in the currently soaking wet city of Sheffield. Originally from North Wales, so should be well used to this constant rain business.
I got into this lark through casino bonus bagging, thanks to another rather excellent website 'Play the System'. Glad that I started bonus bagging before matched betting, maybe it's just me, but decent casino bonuses seem to be more thin on the ground these days. I have taken nearly £2000 out of casinos, but am a fairly recent convert to matched betting. My profits are around the £750 mark, but I'm yet to tackle any books that have WR, so things have been plain sailing so far.
I have managed to recently suffer a summer dip in motivation though. If this rain keeps on I'll have to see if I can regain the mojo. N'owt else to do.
Thanks for the site, I'm sure it will be a mine of valuable resources and information.
Hey Dazed welcome to the forum - good to have you onboard.
Hello Dazed, we have a casino section here too. Do you play Poker at all we have just started a Summer League for that, its just for fun though rather than profit but it is sponsored and we have a few with money added and freerolls now and then. Discussion of bookmaker bonuses is where most chat occours but it has slowed down since the football Season stopped, not because there is less to do actually, just less to chat about. The offers are all still there, its just its only when there is something new or a change it is mentioned, so it appears quieter. If you search about the old threads you will find some Gems that are still valid I am sure.
What is your Avatar? I like a good Avatar but really cant figure out what yours is at all. Is it an Otter playing Basketball vs a Midget? Thats my genuine best guess.
Have a plan and stick to it
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