Got an idea but is it legal?
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If i was to open an online bookies myself and offered loads of offers all the time. Like bet 50 get 50 bet 20 get 20 etc. But the catch is you could never withdraw. Basically aimes at matched betters trying to lose at my bookies but win on the exchanges. My question is would it be legal and if so would you lot sign up?
+0March 3, 2016 at 10:12 pm
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New to matched betting?
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I fear for you.
+0Lol. Don’t fear for me my accounts with bookies were closed long before matched betting started. Backing horses over night at much bigger prices than sp is my thing. Matched betting is like shooting fish in a barrel when it comes to gambling. Watch when they price up the night before about 5pm and i’ll see what i can throw your way. Be prepared to be closed down sharpish though.
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How much money are we talking about laundering?
+0No money laundering bud. Just trying to keep all matched bettors in one place. Will throw a few horses up later if i spot anything
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I think it’s nice that ppl have been nice on you here and tried to see the potential or at least saw you made an effort to think outside the box.
But logically the idea is going nowhere.
1. You can’t martingale you’re way out. Martingale system is a system with a negative expected value..
2. You can’t give out £50 free bets. They have a value you know? Where are you going to budget that from.
3. You can’t give out interest free loan. How are ppl going to pay it back. By winning at the exchange? What if they win on your bookie again? How are you going to afford the loans??
4. You’re whole idea is basically making money out of fresh air.
5. There is no value in the exchange, we pay commission and pay out on lays probably more than is worth. So I don’t know why you think we can just win money in the exchange based on that.
6. You can’t decide that your exchange bets win and yours don’t.
There is no way to tweak this to make it work. The idea at the core is just so completely flawed. It’s based on the myth that matched bettors make money off the exchange, they just use the exchange to convert free bets into actual value.
There is nothing to save this idea and it’s going nowhere. It’s not bubbling…
Mark Patrick conner and some of the others that have shot it down are pretty experienced and knowledgable on matched betting so please take what they are saying on board…..
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@fog, I can only assume he was drinking last night when he had this glorious epiphany. Im hoping when he wakes, In the light of day he can see how ridiculous it is!
+0I think it’s a great idea as long as I can get my money out first ;-).
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Im up lol. Was just seeing what sort of replies i would get. Honestly though how have u lot still got unrestricted accounts with 365 billy hills sadblokes etc? None will lay me more than about 50p. The biggest problem with the betting industry is how they restrict/ban winners but encourage mugs/addicts. The amount of people playing the fobts in the shops is ridiculous. Something needs to be done
+0Now in the morning Loveday you are talking more sense.
I fully agree with your post above.
Bookied only want the mugs who lose regularly and the offers are aimed at getting you hooked on playing online games on your phone.Paddy Power were censured and fined this week for how they encouraged people to lose everything on their inshop FOBT’s
+0Morning patrick. Yeah i read that article as well. Its scandalous what they get away with. Try hooking mugs with constant emails about casino/bingo offers hoping the flashing lights will keep them hooked. Yet if you have the cheek to win a few quid and i don’t mesn through matched betting they ban you. The general public don’t actually realise your not allowed to win but word is slowly getting out now. Can’t wait till everyone really sees what goes on
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lol x1000
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Whenever I’m feeling down and need something to make me smile, I can always revisit this post – it’s a classic
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Aye. I thought he was back for a while.. Like a breath of fresh air..
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