Big Losses – why I hate new account offers.

New account offers can be a huge pain in the arse, and, as I’ve now found, can easily lose you a lot of money as well as tying up plenty of funds.

I’d almost completed my NetBet £50 signup rollover requirement, just had £205 left so I placed £155 on Valencia this morning at 1.71. the lay odds were only 1.74 so I just put an order in at 1.7 on Betfair and waited.
Checked back closer to kick off to find that the Valencia had drifted to 1.81, with concern I watched the market trying to work out a way to not have to sacrifice a large chunk of the bonus I had almost unlocked by laying too high.

So I eventually decided to lay £100 at 1.8 and back the draw with £30 at 3.7. Thus I would be able to completely lay off Valencia if they took the lead, or take enough green from the draw if it was 0-0 at HT or if Granada took the lead early on.

HOWEVER I hadn’t noticed that the game had already gone In-Play in the time I was fiddling around and I hurriedly went to cancel my £159 lay at 1.7…mouse over button, then – SUSPENDED. Shit.

1-0 Valencia. 1.7 lay matched.
Valencia into 1.3. Agonised, I went back and averted a mega loss with a £150 back at 1.3. But the damage was already done

-£196 red on Valencia
£110 green Granada
£211 green on Draw

I suppose I at least managed to get partially ‘out’ before Valencia went 2-0 up 🙂 But in summary incurred a painful -£51.19 loss, wiping out the bonus I’d been sweating over for the last two days. Had a rubbish experience overall at NetBet as well, stakes were quickly limited after I accidentally picked a 4/1 winner I had £100 on.

I’m not doing a shitty rollover sign-up ever again.

+0

DashBet
0

January 6, 2016 at 4:08 pm

New to matched betting?

My Matched Betting Academy is the best place to get started. Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.

Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.

Learn Matched Betting

Tony 12 January 7, 2016 at 10:51 am

Interesting reading elsewhere about the longevity of NetBet, with several posters likening them to “Canbet”, seemingly a bookie that went belly up and took a lot of people’s money with them.

I am too new to this to know what went on with Canbet, plus I have zero experience of NetBet, but I just thought I would mention it as some of you seem to have fairly hefty balances in NetBet just now.

@DashBet – glad it worked out in your favour (you lucky *&!?, haha!)

+0

navillus 2 January 7, 2016 at 12:44 pm

When 666 bet was up I took the £100 opening account offer for Cheltenham patting myself on the back. Every day over the meeting I backed a horse, I was hot because every bet won with 666 bet. I was up to £600 in credit and then no longer could I bet the firm froze all the accounts and it went to the British Gambling Commission the weeks dragged on with me thinking goodbye £600 but to this day I thank the British Gambling Commission be cause a few months later I got my money. So now I check if a bookie is registered with them before I open an account. For a few seconds checking saves weeks of sleepless nights.

+0

Pickle 57 January 7, 2016 at 1:18 pm

Everytime i think of tackling the winner signup bonus something happens like has just happened now. Had a free £10 bet so looked for the horse i thought had not much of a chance in the 13.05 at Towcester. Mr Bachster had drifted from 9.0 to 11.0 so on went the free £10 laid it off on smarkets. The horse then goes and leads from start to finish and easily wins the race. A quick look at Hills and it drifted to 13.0 so a great result for me under the circumstances but had this been more money trying to get rid of a big bonus it would have killed my exchange balance and caused serious problems. Not all that applicable to this thread but just got to keep remembering theres no such thing as a no hoper.

+0

Mr Sitter 0 January 7, 2016 at 2:00 pm

Hi People, I’m a newbie to all of this, so I take any advice on here and listen to what is being said. I too had the misfortune of winning, or fortune of winning, depends on your take on these. Now I’m not a greedy person and would be more than happy to take £40 of the £50 bonus on offer or am I wrong and there is a big opportunity? The way I see it, in my simplistic view, is that so far I have lost 0.57p of the £50 on offer. If I place a bet to hopefully lose and I do not lay it off and it does lose, that will leave around £160 in the account. So one bet of £160, hopefully to lose and if it does, job done with three bets. If however they just keep winning, you just keep money management to £150 plus your small losses, to allow a profit and see out the rollover. Does this sound plausible or is my simple newbie technique missing a trick?

+0

Pickle 57 January 7, 2016 at 2:06 pm

If you dont lay it off then it isnt really matched betting. I cant see any reason youd place a bet that you want to lose and not lay it off. Im fairly new to all this as well (started october so learning). I always try to lay at least part of a bet off if i can do.

+0

toonjangles 0 January 7, 2016 at 2:20 pm

I’ve been in this situation a few times, some of the big Asian bookies have good odds and a good sign up bonuses but huge rollover requirements. I would put off tackling these bookies until you have a good float and can afford to have money tied up for weeks whilst you tackle the rollover – also I tend to skew my bets to ‘soften’ the pain of winning at the bookie, ie for a £50 freebet with an optimal return off £40 you can skew it (underlay) so that winning at the exchange would give you £30 and winning at the bookie would give you £80

+0

Tony 12 January 7, 2016 at 2:34 pm

To quote the Spice Girls… stop right now!

You said “If I place a bet to hopefully lose and I do not lay it off and it does lose, that will leave around £160 in the account.”

Why would you place a bet and NOT lay it, and hope that it loses?!? Perhaps your post was a typo, but I fear that you might want to do some more reading before continuing.

It also sounds like you have already started the NetBet deposit £250, get £50 bonus offer, which is a bad idea for someone who confesses to being a “newbie”. You are FAR better off sticking to the well known, high street bookies sign up offers (none of which carry WR requirements) when starting out. If you already happen to have account with the likes of Hills, Paddy, Ladbrokes…. then please make sure you read up a bit more before continuing, otherwise you risk losing a lot of money.

This is a great community with a lot of very knowledgeable posters, so perhaps start a dedicated thread and ask questions there.

My post is trying to help you btw, not make you feel silly – I hope you take it that way 🙂

+0
Get regular offer updates, tip and tricks, big offer alerts and more straight to your inbox.

Email*

CAPTCHA

Δ
DashBet 0 January 7, 2016 at 3:22 pm

Cheers @Tony , @pressurepoint do you do your own golf bets separately or do you follow someone in particular? I personally follow the exact staking plan of a chap called Bryan Nicholson, 4 years worth of yearly records ranging between 23.75% and 37% ROI, tips for free as well. I’ve been watching all his tips go up on his spreadsheet/website for the last year and have pulled the trigger on following properly in 2016…£20 per point at 30%ish ROI should return £2k-£3k profit I’m hoping!

+0

Mr Sitter 0 January 7, 2016 at 3:27 pm

Many thanks for your replies and I do take them all in good faith.

+0

Mr Sitter 0 January 7, 2016 at 4:24 pm

Oooooops schoolboy error!! Forgot to factor in the money I have already transferred from the exchange to the bookies. Cheers Tony, Pickle and Toonjangle, pleased I asked and you went easy on me…LOL, hence the name Mister Sitter!!

+0

Rose88 0 January 8, 2016 at 10:36 pm

Just did the £50 Netbet Cash out offer and placed £250 on draw Exeter v Liverpool…ouch, £1k stucked in Netbet.
Now have to go through the painful process of rolling over and try to minimise qualifying loss, I think by the end of the roll over not much left from my bonus.
Does anyone know whether Netbet need user to send in documents to verify before withdrawing.
Hope it is not one of those bookies which has a bad reputation that refuse withdrawal/ require posting of documents to offshore office etc…

+0

Drogs 0 January 8, 2016 at 11:11 pm

I have withdrawn without issue, as I know several others have. I think I did have to send my ID and bank card verification possibly, but this is normal procedure.

+0

78naD 2 January 8, 2016 at 11:15 pm

You need to send documents to every bookmaker before withdrawing.

The ID to verify you’re over 18 and others to prove it was your money…

+0