Where's the cash normally end up
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Good evening
Started this lark a couple of months ago and am doing ok I guess, but when I started and bet mostly on football my money was going into my exchange accounts but last week or so started trying the horses and its wiped out my exchange accounts and is now in various bookies accounts. I have had to top up exchange accounts substantially which i cannot do much more off.
where will the money flow to long-term? Is it ok to take the money from bookies? ( don’t want gubbing as had none yet)
Thanks for any replies
+0June 27, 2017 at 8:19 pm
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Learning the fundamentals takes 10-15 minutes and you’ll make £15 in the process.
You’re taking value from the bookies normally so long term your cash will end up in bookie accounts.
I can’t place a losing bet with some bookies whereas with others every back bet loses, but overall most of lay bets lose. Just had a look at my June spreadsheet and 81% of my winnings have been from bookies.
Withdrawing from bookies is ok but I tend to leave a float in the ones I use most often and only withdraw when I really need to. For bookies I only bet with every now and again I withdraw any winnings immediately and just deposit again when I need to.
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My smarkets account is permanently showing a rolling loss (and has been from day one). I had a bit of a winning streak at more than one of the bookies, which caused me some liquidity issues at the exchange, double nightmare as I was working through a rollover requirement with one of them. To be honest mate, the money just goes round and round, if you could predict where it was going next, you might as well be a professional gambler.
+0I find my cash usually ends up in the exchange (minimal difference though).
Surely if cash is ‘always going end up in the bookies long term’ then we should just never lay?
+0If you’re consistently taking value from the bookies then not laying would be profitable. Had I not layed any of my bets I’d be a couple of thousand pounds better off from the last 6 months.
But matched betting is about removing/reducing the risk and taking consistent profits.If you just backed you could easily back 20 winning bets in a row but just as easily back 20 losing bets and lose your betting bank. Value bets can and do still lose and I doubt most people have the bankroll to get through long losing runs, even if they would still show a profit in the long run.
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…and by contrast, my exchange account was up by £6k for a while (when my overall profits were about £1k – so I would have lost £5k by not laying).
B365 loved me back then, I was an expert loser, I could get £200 on a Pricewise pick. They don’t love me anymore, sadly!
+0@ Football if there was a minimal difference (long term) why do you think bookies go to such a lot of time and effort to gub/restrict and even ban match bettors?
Over the long term you would be better off not laying, however the variance would be far too much for the vast majority of people new to match betting to cope with. Lots of people come into this with say £1000 or less. It would be dead easy to lose all this in a fairly short period of time if you didn’t bother laying.
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Before I discovered matched betting I gambled. I was betting on football mainly. Goals over/under, win market. Occasionally bet on the horses but I couldn’t win for love nor money (pardon the pun)
Now I’m placing mug bets, qualifying bets I’m regularly winning the back bets.
Typical?
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Money always ends up at the bookies…just keep moving it back to your bank asap
+0As Jimmy Greaves once said “Its a funny old game”. I signed up to a bookie did their sign up offer. Bet won so i had about sixty quid in the account. Went to withdraw and they basically wanted my complete DNA. Thought stuff that i’ll just play through it and build up my exchange account by doing small QL losses and the odd small arb.
Got my balance down to about £15 quid, thought great i’ll just put that on some random 16/1 rag. Yep the effin thing won.
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Bazza?
I was the same with Betway last week. Wanted my passport & utility bill etc.
Put a mug bet of £25 (leftover balance) on a horse that lost thankfully so the money ended up in the exchange.
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Quite a bit ends up in our Matt’s back pocket with all the referrals and links etc. (Deservedly so). Good on yah, Matt for the web-site.
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