The biggest thing that affects people starting out with matched betting is that they don’t have (or think that they don’t have) enough money to spare for the time it takes for the bet to clear. This is something that you should not let get to you as you can tailor your bets to suit whatever betting bank you have. The purpose of this page is to show you how little you can start with, or how much you can make as your betting bank grows.
How can I reduce the amount I need in my betting bank, while still making high profits?
(i) If your qualifying lay bet wins and the back bet loses – you will nearly half your cost without doing anything:
First of all the amounts shown in the table above are maximum, and if the bets all lose into the exchange(betfair) you will only need about half the amount shown. The reason for this is that the if your back bet loses in the qualifying bet stage, the lay bet will win. This is essentially transferring the stake of the back bet with the bookie to the exchange, as whatever is lost on the back bet is won with the lay bet (less the qualifying loss). This means that because all the funds from the original bet are transferred to the exchange, you will probably already have the majority of the funds required for laying the profit bet, thus reducing the funds required to complete the entire matched betting process.
If we wish to bet the maximum stake of €/£50 in our qualifying bet stage, the liability of the lay bet will be €/£26.20 so the total cost of the qualifying bet will be €/£76.20. When the bet settles the entire amount will have moved to either the bookie or exchange account, depending on which bet won. For the purpose of this example we will say the qualifying bet won with the exchange i.e. the lay bet won and the back bet lost.
For the profit bet side of this bet we see that the lay bet will have a liability of €/£114.82 to lay off the free bet, but now because the funds from the qualifying bet won into the exchange we will only need to deposit a further €/£38.62. This means that we will then make the same €/£33.97 profit but we will only have needed a betting bank of €/£ 110.17
This is very powerful as it allows us to keep much less funds tied up in the bets but we still get the bets complete as before. The reason I show a maximum in the tables above is that you should allow to have to have that much tied up at one time if you want to complete the entire matched bet (qualifying and profit bet) without withdrawing in between.
Just as an aside, if you compare the above example with regular interest on savings accounts or returns on investments you would be receiving just over a 30% guaranteed profit on your investment in a matter of hours and have the actual cold hard cash in your bank account in 3-5 working days. This shows just how powerful matched betting really is.
(ii) Use the funds from the qualifying bet to lay the free (profit) bet:
If you need to reduce the betting bank you need to complete the matched bet and the qualifying bet won into the bookie (back bet) account, you can still use these funds for the free bet. The only thing with having to do this is that (unless you use skrill) you will have to wait for the withdrawal to clear before being able to deposit these funds back into your exchange account. So with this method, as most withdrawals take 3-5 days to clear, you will have to wait to place your free bet. The betting bank and overall profit for the entire matched bet will be identical to example (i) above, the only difference is that you will have to withdraw the funds from the bookie account and deposit these to the exchange to lay off the free bet. You will still make the same profit of €/£33.97 but you will just have to wait an extra few days for it.
An excellent way around having to wait for these withdrawals is to use Skrill (formerly Moneybookers) to transfer your funds. You can use Skrill to quickly move funds from one betting account to another, generally takes maximum of 24 hours to transfer funds but can be much quicker. Read more about Skrill.
If there is anything you are unsure of in any of the content on this page please leave a comment below and I will get back to you within 24 hours.