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Withdraw winnings or keep in betfair?

  • I’ve been matched betting for 2 days now and have completed a few offers, but I am finding it difficult to find a structure to how I should move my money.

    An example of this would be the Ladbrokes offer, if I put 50 on there, and match it on betfair I’ve put 100 in (no losses obvs) but if Ladbrokes wins (normal bet), to then to get my winnings (free bet of 50) I have to put a further 50 on betfair (to match) taking my total spent to 150 and winnings to 175-180, which is great, but then do I withdraw and wait up to 3-6 days (given weekends) for the money in my bank? I only have around 200 to bet so I wont be able to complete any other offers if 150 of my 200 is tied up for most of the week, and I’ll only be able to do around 4-6 sign up offers a month.

    How is it possible to make hundreds a month if it takes up to six days to make 30?

    I fully believe that its possible to make hundreds if not 1000 a month, but I can’t figure out how to go about it efficiently, so far I’ve made 14 profit, and I will have to wait at least till Wednesday to see any of it, and until then I’ll be 50 down.

    I apologize for the epically long post, I just wanted to be thorough so you would understand what I meant, I’m still new to this lol, thanks!

    +0
    Mattesur
    0
    April 23, 2017 at 12:57 am

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    deathstar 30 April 23, 2017 at 6:17 am

    unfortunately it is the nature of matched betting. You either need a bigger float to be able to take every offer on any given day, or just be patient and wait for the cash to recycle. I know how you feel though, i started with £50 and it took AGES for me to even make £100, but once you start to build your balance up it becomes easier and quicker.

    You could look at getting paypal and skrill accounts, which speed up withdrawals considerably (from days to hours) but be careful as you won’t be eligible for bonuses with a lot of bookies. (usually clearly states this in the T+Cs)

    HTH

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    laughing_gravy 0 April 23, 2017 at 6:42 am

    I’ve only found a couple of bookies that don’t take Paypal – Skrill and the others aren’t so good. But if you have Paypal then the withdrawal from Betfair takes about 12 hours. Ladbrokes to Paypal takes about 6 hours. I have a spreadsheet with login details of each bookie I have an account with, and in an extra column I’ve noted how long the withdrawals take from each one.
    I haven’t much money either so I work out which offers I want to do, use up the available money, and then at the end of the day withdraw from whichever accounts the money has landed in so that it generally moves to Paypal overnight. By lunchtime the next day I re deposit in whichever bookies have the next offers I want to do.
    You either have to put small bets on, or limit the bookies you are using until the float increases. Try and keep the larger portion in Betfair to cover the lays and just enough in the bookie to do that days’ offer.

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    deathstar 30 April 23, 2017 at 7:45 am

    excellent points gravy, I seem to remember sky withdrawal to paypal is instant.

    Worth pointing out that you can add 4 or 5 different email addresses to paypal so you can use different ones for linked bookies (betfred and tote for example, or paddy and betfair)

    and of course paypal is free whereas skrill charges to withdraw to your bank should you need to.

    Only downside is betfair charge for depositing with paypal, and smarkets don’t accept it at all.

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    laughing_gravy 0 April 23, 2017 at 10:06 am

    Yes, Sky withdrawals are pretty much instant – maybe an hour on a very bad day but I really don’t know why they seem to be the only ones who can do the withdrawal so fast. Bet365 are probably next best – I’ve seen them manage it in 3 hours. Generally I just go for the overnight thing which covers most of them.

    Good point about the charges and newbies need to keep a close eye on that. I used a credit card to fund paypal – i thought I’d keep the bank out of the loop. Sadly I found the credit card people charged me £3 for the pleasure! There are ‘gambling fees’ now on credit cards.

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