dealtn wrote: redsturgeon wrote:
Have you had any luck with finding actual arbitrage matched bets with a worthwhile profit? If you've cleared £350 of bonuses you can take back your initial stake and use the bonus money as stake money and you'll be risk free. Arbitrage I found very time consuming, without bonuses, just arb, you get a percent or less so to make money the size of the pot matters.
Not really looked for actual arbitrage opportunities, as you say it's just going to be squeezing the odd percent so not really worth it.
I have been clearing my bookmaker accounts as I've been going.
So it's been about 3 weeks(?).
How many bookmaker accounts have you opened? How many are in profit? How many have closed their business to you?
I am interested in how quickly a bookmaker can identify "you" and distinguish between a "normal punter" and how long before they take action.
Maybe it's too early to analyse, but that to me is the crux of how long, and how much effort, to "invest" in such an enterprise.
23 accounts opened
All bets are profitable (by definition) some involve a loss to the bookie but a win on the exchange and vice versa.
It is unlikely that any bookmaker will close their business to you for matched betting but they will stop you taking part in offers (gubbing).
It is, IMHO having done this, only really worth a one off exercise to mop up the "welcome offers", the so called "reload offers" are less lucrative.
For the welcome offers it is unlikely that any bookie can act quickly enough to stop you taking part.
I have been "gubbed" by one bookie, IMO this was due to being unluckily lucky...I will explain.
The best result from the gubbing POV is to lose your bookie bet each time and win the exchange lay bet because the exchanges don't care who wins, they just take their rake while for the bookies every win for you is a loss for them.
With the one bookie I was gubbed by I had won all three of the first bets I had placed with them, two at quite long odds...I unfortunately got too lucky!
There are various strategies to make you not look like a matched better, you can deposit more than the minimum required, you can make the occasional "mug" bet (which of course you lay off) and you can avoid betting on obscure events just because the odds are attractive for matched betting.
For me this has been an interesting and painless exercise and I will end up about £400 up for a few hours on the computer. I will probably also look at the casino site offers which are supposed to be even easier to exploit, we shall see.
For the record I only really started this to help my daughter earn some money while she is furloughed and staying with us, she was getting bored! I has also proved a pleasant father/daughter bonding exercise.
Also for the record, I used the plan provided by Team Profit, who are free to join and provide all the information necessary to start from a point of no knowledge. I have no connection with them but found their website invaluable, trying to do this without it would have been much more difficult.
edit for accuracy: I said above "all bets are profitable" actually this should read "all welcome offers are profitable" since the first trigger bet which you lay off will lose you a few pence but that qualifies you for the £5-100 offers which are guaranteed profitable.