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Rollover requirements…… all help appreciated

  • Hello All,

    I am fairly new to matched betting blah blah….. I’ve done a few in play offers and whatever else, nothing really exceeding £20 qualifying bets.

    straight to the point….. roll over’s …..
    from my understanding ……. say you are required to roll over 6x for example….. but your first bet with the bookies looses …… do u instantly have profit in your exchange account ? i mean u must do…….

    I haven’t really done many of the new offers simply for the liability amounts, especially the winner offer which i may avoid…. (saving for holiday can’t risk making silly mistakes and loosing or locking my money into a bookmakers)…. I have been reading Matts site for a few weeks now and keeping up to date with the forums so I am assuming FOG_Blog will probably see this post and give me some help or deathstar I always seem to see.

    I could go for some of the welcome offers….. but I would rather wait to be able to maximise the profits as i would only use £20 for some of the £50 offers….

    So basically to conclude any advice on roll over requirements and the whole getting money stuck into bookies accounts……. from what i understand you with roll over requirements……. once u have qualified u basically want to loose to the bookies and win with the exchange ?

    Cheers!

    +0
    oggi118
    0
    May 1, 2016 at 6:55 pm

  • New to matched betting?

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    deathstar 25 May 1, 2016 at 7:41 pm

    Hi, thanks for the name drop. lol
    The key to doing rollovers is having a float big enough to cover every bet you need to make in the worst case scenario. You need to get “winning at the exchange” out of your head, as you will invariably fall foul of an absolute no-hoper winning. Its also quite dangerous to back the no-hoper because it/they will be higher odds so if/when they do win you will have loads of cash in the bookie and none in the exchange. (theres also the fact that there are smaller losses on shorter odds because they may be closer together as well)
    My advice would be to just keep plugging away at the smaller offers and the reloads as and when they turn up until your funds grow, it doesn’t take long.
    Remember you can only do a sign up once, so try and get the most out of it you can.
    And don’t do winner yet! there are loads of horror stories on here and on the web in general. It needs a float of about £4K I think.

    HTH

    +0
    oggi118 0 May 1, 2016 at 8:59 pm

    Ha no worries for the shout out u and others deserve the credit…. I can see you advise numerous matched bettors in these forums.

    fully aware of these horror stories revolving around winner….. didn’t realise the float was about 4k tho!

    I have a float atm of around £150 only really done the roll overs promotions as i had accounts made previously before i discovered matched betting (gutted).

    I am fully aware of maximising your profit from near exact odds etc…. I am aware to not always stake the minimum amounts to qualify and mug betting too…

    But back to rollovers ….. so say I had received a £10 bonus as a sign up offer……
    I had to stake 6x this amount to withdraw ….. so correct me if i am wrong….. i basically need £60 to withdraw the money (obviously stake not returned can affect what u will receive)

    to keep it simple say it was stake returned…… i found a back bet 6.00 and placed the relevant lay bet for say 6.1 odds…. (unlikely i know but bear with me)

    the classic line “using matts calculator” I would be making roughly £9.67 profit…. minus whatever i lost in my qualifying bet.. with me so far?

    so in this case if the bookie wins……… i have staked 6x the amount of the free bet….. so i have £60 in my bookies account so now therefore i am able to withdraw the money?….
    If the exchange bet (smarkets obviously 😉 2% and all that) lay stake wins again i would end up with £9.67 profit minus the qual bet…….. is this correct?

    obviously the profits liability lay stake will increase as your free back bet increases which intend to slowly increase as my knowledge grows.

    one thing i was confused about 6x rollover does not mean you have to place a bet 6 times ?
    it means u need to have 6x the amount before u can withdraw?

    errm…… trying to think of anything else i need to say.

    il let you know

    Cheers

    +0
    deathstar 25 May 1, 2016 at 9:27 pm

    yeah that’s basically right, although you don’t need to bet at high odds for stake returned. but check what the min odds are as you say.
    so in your example, if you have to bet £10 six times you need to bet £60 through. it can usually be a bet of £60 or 6 £10s or whatever, but check to make sure. if your balance ends up at 0 at any point, the wagering is complete, so it would be preferable to lose straight away but don’t assume that it will.
    a rule of thumb is if it has a wagering requirement (rollover) it will be stake returned. the only exception to the rule that I know of is Betvictor who impose both stake not returned AND WR. but always check the T+Cs, they do change from time to time.

    Most bookies will also have a place somewhere showing how your wagering is getting on – in account bonus history maybe? depends on the book.

    +0
    Eat_cycle_sleep 0 May 11, 2016 at 8:06 am

    Hi Deathstar – new to matched betting, might be a stupid question, etc etc, but can I just go back to oggi118’s first question regarding rollovers for a second because it’s been bugging me!

    Let’s say you sign up for a deal where you deposit £100 and they match 100% but you have to rollover, for the sake of argument, 10 times. I completely get your point about not having a ‘winning at the exchange mentality’ and by the law of averages sometimes the long odds do win, but isn’t the easiest way to extract that £100 by placing a £200 bet at the bookmakers, laying it at the exchange, and the losing at the bookmaker? If you use the calculator in ‘normal’ mode, you can match the stake and end up with maybe £180-190 at the exchange and no further requirements at the bookmaker – far simpler than rolling over 10 times.

    Putting to one side the size of float you’d need to back a £200 bet at decent odds, is there something I’m missing here? I’m not saying it’s a tactic to actively adopt (because it’s risky for all the reasons you say above) but it does seem to be the path of least resistance to launder money from somewhere inaccessible (bookmaker) to somewhere accessible (exchange).

    Also, not sure if it works like this, but the bookie might be less likely to gub your account because technically you’ve just chucked them £100?

    Again apologies if I’m doing something mathematically dumb and thanks for any help!

    +0
    deathstar 25 May 11, 2016 at 3:40 pm

    hi Eat_cycle_sleep,
    yes you can bet at longer odds its completely your choice. but its a matter of weighing up the plus with the minus.

    the plusses: if you lose your money will end up at the exchange – no more rollover.

    the minuses: a lot of money is needed in the exchange (to cover a bet of £200@5/1 requires £1200)

    if the bet wins, you now have £1200 in the bookie and no way to withdraw until more rollover is completed.

    the mismatch between the exchange and bookies odds is likely to be greater (unless its an arb, but then that another problem in itself)

    The bookie may or may not frown upon your bet choice and gub you. no-one would bat an eyelid if you bet on either side of the FA cup final for example, but Barcelona vs some minnow from 2nd tier Spanish leagues might raise some flags.

    The best way to approach these in my opinion is actually to underlay so if the bet loses you gain slightly less into your exchange but the rollover is complete, if you win you get more in the bookie than you lose out of the exchange, giving you more cash to get through the rest of the rollover.

    but as I say, its your money, you can do what you like with it! 😉

    +0
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