Tom's Top Tips For Newbies
I hope you've been finding your Matched Betting journey so far fun, and more importantly profitable!
My name is Tom and I have been Matched Betting for a number of years now, and I'd like to share some of my tips with Team Profit members!
I understand for some people it can be daunting, and you constantly worry about making a mistake. And for others it can be extremely exciting, and that rushing ahead too quickly you might make a mistake. So here's a few tips that helped me when I first started - please read them all as they're not boring (I promise!) and they may save you! And as always, if you have any questions then feel free to contact us!
Tom's Tip #1 - Separate Bank and Email
By now you've probably done a few welcome offers with some of the bigger bookmakers - great! I find it a lot easier having a separate bank account and email address just for my Matched Betting.
That way I can separate my personal money from my betting money, and I can separate my personal emails from my betting emails. You can also watch your money grow as it'll be in a separate side pot!
Tom's Tip #2 - Let the pot build
When you start making a profit it's very easy to want to go out and spend it. Don't! You should let your profits build up and not touch them, that way you'll have more money to hand and more money to do offers with.
Ideally you can build up an exchange of £500 as this will allow you to easily make a regular income from the reload offers (existing customer offers).
Of course we're all human, and I'd advise setting yourself a target, such as £500, when you can spend a % of it. But on the whole you want to be saving every penny you can!
Tom's Tip #3 - Take your time!... Checklist
It might sound self explanatory but you should honestly take your time. When you rush about or after you've done a few offers you can easily miss something. Here's a list of things I'd check and do when placing my bets:
Double check your back and lay bets
The back odds, the back stake, the lay odds, the lay stake, the liability, and the commission. Also make sure what you're betting on is the same for the bookie and the exchange. I've had it before where i've bet on one horse, and then placed a lay on another horse as they had similar names!
The min odds to receive the free bet tend to be 1.5+ but in some cases it can be 2.0+ so it's always good to check the Team Profit guide and also the double check with the bookmaker terms.
Using the calculator mode
If you're placing a trigger bet then the calculator should be set as normal, and if you're using a free bet it should be set as SNR.
A handy way to sense check this your lay stake when you place your lay bet is that:
For a trigger bet, the lay stake will be around the same amount as the back stake.
For example, a £10 trigger bet will have a lay stake of around £9.50 to £10. The slightly lower amount of £9.50 represents a 50p loss so that if you lost your £10 trigger bet then you would win a £9.50 lay bet.
For a free bet, the lay stake will be around the profit you expect to make.
For example, a £10 free bet will have a lay stake of around £6 if you're using odds of around 3.0. If your free bet loses, you then win a £6 lay stake which is your profit. If your free bet wins, your bookmaker winnings are £6 greater than your liability.
Place your back bet before your lay bet
If you do your lay bet first and then the back odds change, you're in a pickle. So back first, lay later!
This is also when the bookmaker odds change, they typically change by a larger amount than the exchange lay odds. For example, a bookmaker back odds may drop from 2.37 to 2.3, whereas the exchange lay odds may drop from 2.38 to 2.36.
Do not choose arbs
The bookmaker back odds are almost always lower than the exchange lay odds. This is because the bookmaker looks to make a profit by giving you slightly worse odds than they could do.
Very rarely, the bookmaker odds will be higher than the exchange lay odds which means the bookmaker is giving odds that are overly generous to the customer. You will make a small profit from your trigger bet by choosing an arb, however the bookmaker will quickly spot this and then restrict you from reload offers.
So in this rare situation, it is best to choose another team to back!
Tom's Tip #4 - Partially Matched Bets
Sometimes a bet you place won't be fully matched. This is because there is no money in the market, or just as you placed it the odds moved. There's an easy fix for this - check out the partially matched bets guide:
Tom's Tip #5 - Ask for help!
Don't be afraid to ask for help! We want everyone to succeed when Matched Betting and all have the same agenda in the sense that we want to put money in YOUR pockets.
So if there's something you don't understand, or if you just need general guidance on an offer, then get in touch with us on either live chat, facebook, or email, check out the links in 'Got Questions?' below.
There are 3 ways to ask for help with Team Profit:
Live Chat - Chat with one of us any time we're online. See the chat module at the bottom right of site.