I have been dipping into the matched betting world since my last MB post. It has helped me with increasing my monthly income and earning more money working from home. Occasionally an offer comes along and this blog post relates to matched betting but really is more ‘risk free’ betting. This means that there was a risk (or qualifying loss) but you’ll see that wasn’t what was planned. This blog is a ‘part two’ as it relates to my previous BIG PROFIT blog post where I won £440!
Where It All Began
It all starts with a standard plan of match betting. A bookie was offering a free in play bet when a pre-game bet was made. I made the initial pre-game bet and added the details to my MB spreadsheet. I’m a bit of a spreadsheet whore so I have one just for my MB where I track everything and it lets me know how much I’ve made and how. This pre-bet had a Qualifying Loss (or QL) of about £3. This wouldn’t be a problem as the expected profit from the free bet was £32. £29 quid for very little work, and all tax free, lovely!
What Went Wrong
For something that involves an ‘in-play’ bet I would usually set a reminder on my phone to at least keep an eye on the match until half time when I should make my bet. The markets are a bit more stable at half-time and so easier to find a match on the exchange to help lock in the profit. The problem this time is that I didn’t set the reminder. Why do I always think I will remember stuff like this!?!?!?!?!!
What Happened Next?
We pick up the story at about 9.38pm. The match kicked off at at 7.45pm and a UK football match is 2 halves of 45 minutes each. 90 minutes of football with a half-time break in the middle. Based on this there were minutes left of the match and it was only now I remembered that I still had the in-play bet to make! One team was winning with plenty of goals and the other team had yet to score. I could put on the bet at the bookies but due to the massive goal difference, the exchange wasn’t carrying much in liquidity to do an actual matched bet. This was a big problem 🙁
The only benefit was that the free-bet being offered was actually a ‘risk-free’ bet. This meant that if it lost, I would be refunded in full. Due to this I felt that as I’d lost the £3 in the QL already, and I couldn’t MB as there wasn’t liquidity at the exchange, I might as well pump for a bet that *could* happen and forget about doing it MB style. With minutes left in the game I wanted something that could happen and I felt that it would be possible another goal could come, either the losing side getting it due to the winners slowing down or the winning side getting it as the losing side collapse completely.
What I did to Fix the Situation
So that’s what I did – I placed my bet on there being another goal. The odds weren’t 17 to 1 like the previous BIG PROFIT bet but it would triple my money! However if it didn’t happen, then the bet would be refunded and it would be a £3 lesson in setting reminders on my phone!
A minute later, the team in the lead scored again! The website gave the option to cash-out all my winnings so I did that and the cash was in my account in less than 5 minutes from placing the bet. Minus the £3 QL, I was £147 up – Big Profit!. This reminds me that it doesn’t matter if I’m not placing bets every second of every day, that matched betting (and related bets) can help me get a couple of hundred quid each month.
These type of bets don’t come along very often so it is worth taking them while you can. If I get another one I will do it as a matched bet as I really don’t have any interest in gambling. The reason I didn’t do this as an MB is I forgot about the in-play bet I needed to make. Next time I will set the reminder on my phone straight away and not rely on my man-brain to do its thing!