How much cash do you need to keep in your accounts

  • Hi all. I’m completely new to this so up to now I’ve just been doing research but am soon going to go live with some bets. I’m just trying to figure out how much money you need to really make this worthwhile. Some of the ‘liability’ amounts are pretty scary, over £100 and some of the advice is to place like a 50 or 60 quid back bet. This seems to me to mean that you really need to have a few hundred quid available at all times to turn a profit?
    Also, is the idea that generally you want your bookie bet to lose so that you can start to build up a float in your exchange account to allow you to stand higher liability on the exchange?
    Another query, do people generally keep some money in each of their individual bookie accounts or do you just withdraw it all as and when it’s there, then just place the bet amount each time? Sorry for such a long post but it’s taking me a while to get my head around this 🙂

  • 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.

    deathstar 35

    if you are just starting, you probably need £100-£200 for your first few bets – start on the lowest sign up offers and build your way up the scale. also start with standard “free bet” offers first, then move on to the “risk free” and finally the rollover offers.
    you’ll be surprised how quickly your bank roll will grow, but the most infuriating thing about starting out is how long it takes to recycle your money between bookie>bank>exchange. its well worth using paypal for the ones that accept it as this cuts the withdrawal times down from days to hours, and literally instant for some bookies.

    In a perfect world all your bets will lose. BUT do not EVER assume that they will, always make sure you have enough to cover yourself in the worst case scenario.

    HTH

    +0
    eddieb 0

    Cheers, thanks for the advice. Much appreciated. Can I just check – if you bet say a tenner to win a free bet, is it ok to withdraw any winnings straight away if you do win and leave a zero balance?

    +0
    deathstar 35

    The theory behind not withdrawing is that when you withdraw the bookie has to run its checks to authorise payment, which obviously means they will look at what you’ve been betting on. This alledgedly flags up your account as a bonus abuser and therefore makes it more likely that you will get bonus banned or “gubbed”.

    However, this is pure speculation, as no-one knows what it is that gets you gubbed – most people will say “i mug bet a fortune”, others “i never mug bet” yet both get banned. So in truth the best thing to do is just try to think like a mug and accept the fact you will get banned at some point. If you need the cash, take it out, if you don’t leave it there for the next offer. What i usually do is withdraw most of the balance and leave, say, £25 in there ready for the next offer.

    Another quick thing, sometimes a bookie will send you another offer if you have zero balance to get you betting again in the early days of your account. I can’t really remember who now, but i think william hill and bet365 maybe?

    TL;DR – up to you…if you need it yes withdraw, if you don’t no don’t bother.

    HTH

    +0
Viewing 3 replies - 1 through 3 (of 3 total)

You must be logged in to reply to this topic.