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New to matched betting?
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Hi @abokiwire,
Unfortunately, matched betting only works if you have offers available. If no suitable offers are available in Nigeria, matched betting isn’t viable.
Gambling operators must ensure their customers can afford to wager with them, so requesting ‘source of funds’ documentation isn’t unusual.
Not all bookmakers will ask for documentation; it varies between operators.
That’s a ‘Money Back if Bet Loses‘ offer.
You would select the ‘Money Back if Bet Loses‘ setting on the Matched Betting Calculator.
If you were looking to max out the offer, you would enter a ‘Back stake’ of £400 and ‘Cashback’ of £80.
£80 is the amount of cash you can expect to convert a £100 free bet into (80%).
I hope that helps for future reference.
I try to avoid advising on multi-accounting as it’s a grey area.
I think the bottom line is if you’re uncomfortable being a part of his activity, you can and probably should remove yourself from the situation.
If you place a lay bet with insufficient liquidity available, your bet will be unmatched. There’s no need to panic; you have a few options.
If it’s completely unmatched, I recommend cancelling the bet. You can then check the market, find the lay odds with sufficient liquidity and amend them on the calculator.
If your bet is partially matched, I also recommend cancelling the unmatched part of your bet. You can then use the ‘Part Lay’ function on the calculator. Simply enter the details of the partial bet you just placed, then enter the available odds for the remainder of your bet.
Another option, if the event isn’t due to start for a while, is to wait and see if your lay bet matches. Just be aware that the lay odds could drift, leaving you with a larger qualifying loss.
I hope that helps.
It can be frustrating, but gambling operators must ensure that their customers can afford to wager with them. Requesting a bank statement to prove your source of funds isn’t unusual.
If you’re uncomfortable providing them with the documentation they’ve requested, that’s fine, but unfortunately, they’re within their rights to restrict your account unless they get what they need.
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Hi @carloshalpinos,
For future reference, if you want to lay the last leg of an accumulator where all other legs have won, you simply enter the accumulator odds as your ‘back’ odds and the ‘lay’ odds for the final selection.
For example, using your odds above, if you staked £10 on your acca, the calculator tells you to lay £122.95 on Argentina for a minimum profit of £112.95.
I hope that helps.
The project is called ‘GamProtect’.
If the participating operators identify a customer displaying high-risk behaviours, they pass that information on to GamProtect. GamProtect can then notify the other participating operators so that they can also take necessary action to reduce the potential of that customer coming to harm.
The information being shared is limited, so I don’t think there’s any greater concern than usual regarding the closing of profitable accounts. GamProtect just enables operators to match up customers that need protecting.
In theory, you should make a bit more profit in the long run by underlaying.
I’m not sure it’s worth it, though. I think it’s better to take the smaller fixed profits and eliminate the variance that underlaying brings.
Like with matched betting, you need to be selective when looking at casino offers. As you say, the wagering requirements for a lot of offers make them unprofitable, but there are plenty of opportunities around.
Gambling operators are well within their rights to run source of wealth checks. They must ensure that the money a customer is betting with is theirs.
Once you provide the requested documentation, the funds should be released without problems.
It sounds like you’ll get a free bet equal to 20% of your initial deposit.
It’s not a great offer, though, as the eligible odds of between 1.01 and 2.00 means you’ll only be able to convert the free bet into around 50% cash.
Hi @koreanpride,
Bookmakers are well within their rights to run source of wealth checks. They do this to ensure that the funds a customer is betting with are theirs.
If you want to use your restricted accounts for matched betting, you must provide them with the requested documentation.
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