Tom and Dave's Top Newbie Tips
Reading time: 8 mins
My name is Tom and I've been Matched Betting for over five years now. I still remember exactly what it was like when first starting out - the confusion, the nerves, followed by the excitement of making your first profit!
It can be extremely easy to get lost, or get too far ahead of yourself when you begin your Matched Betting journey.
So, I've come up with a few quick and easy tips that might just save you some money and time!
We will be covering:
Tom's Tip #1
Separate Bank and Email Account
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. It also helps to 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 withdraw it and spend it. Don't! You should try and let your profits build up, which will allow you to do offers faster and more profitably.
A good initial target is to build up an exchange balance of £500. This will allow you to make a regular profit from the reload offers (existing customer offers).
Of course we're all human. But on the whole you want to be keeping and reusing every penny you can!
Tom's Tip #3
Take Your Time - Checklist
It might sound self explanatory but you should really take your time. When you rush, you can easily miss something. Here's a list of things I always check and do when placing my bets:
1. Double check your back and lay bets
- Back odds and stake
- Lay odds and stake
- Liability and the commission.
- Make sure what you're betting on is the same bet for the bookie and the exchange.
😳 I once backed one horse and then placed a lay on a completely different horse, as they had similar names!
2. Minimum odds
Minimum odds for the trigger bet tend to be between 1.5 and 2.0, always check the Team Profit guide or T&Cs for each offer.
3. Use the correct calculator mode
If you're placing a trigger bet then the calculator should = Normal
If you're using a free bet then the calculator should = SNR
4. Place your back bet before your lay bet
If you place your lay bet first and then the back odds change, you're in a pickle.
Whereas if the lay odds change, it's easy to resolve by editing the odds in your calculator.
So back first, lay second!
5. Avoid arbs
If a bookmaker is being overly generous (or has made a mistake) and the back odds are larger than the lay odds, then this will mean you can make a small profit from your trigger bet. However bookmakers can easily spot this and may then gub (restrict) you from receiving future offers.
So if you see an arb, choose another team to back!
Tom's Tip #4
Try Our Offermatcher
More profit per offer? Tick.
Faster to complete offers? Tick.
Avoids mistakes? Tick.
We provide a really handy Offermatcher, that scours each bookmaker site to find the perfect trigger and free bets for each offer. Find out more, here:
Dave's Tip #1
Have ID at the Ready
Have easy access to your ID documents - have all the required images stored in a specific folder on your device. It may seem intrusive when starting out, but all gambling companies require you to provide proof of who you are, your age and your funding sources.
Don’t be offended, it’s the law and although some requests are a little weird, ‘selfies with a hand written note saying ‘Hello BetX’ for example, it’ll mean you can go ahead and safely use their site.
Dave's Tip #2
Don't Fear Gubbings
Gubbing is the term used for being banned from receiving future bookmaker promotions. It happens to us all eventually, so there is no need to worry about it too much. Everyone has a different opinion on how to avoid them but the reality is, no-one knows for sure.
If you want to err on the side of caution and try ways to avoid gubbings then read our guides on mug betting here.
Dave's Tip #3
Most promotions will require you to opt-in or follow a link directly from the email they send you. Get into the routine very early on to do this religiously.
Watch out for sites that use pop-up opt-ins (10bet, Mansionbet for example) as you may need to turn off any ad-blocking software to see them. Missing an Opt-in can be really annoying when you’re told on live chat that you haven't qualified!
Dave's Tip #4
Manage Your Passwords
It's well worth downloading a Password manager and form auto-filler. These tools will speed your sign-ups no end! You can use the password manager to create and securely store all your details for the growing number of bookmakers and casinos.
A popular site that a lot of our members use is Lastpass.com