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Chris Harvey

Top Tips - "My top tip for a beginner is..."

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I'll kick off!!

Take your time is my top tip 🙂 

Matched betting is a brilliant way to make some extra income each month. However, it does take a bit of time intially to learn.

I'd recommend setting aside 1  hour one weekend, evening or daytime, whenever suits you and firstly watching the video guides and then follow one of the starting with week by week plans.

Please do ask all the questions you have too whilst learning, you can ask either:

- In this forum! Just set up a new post with your question or ask in this questions post.
- In the facebook group
- Email help@teamprofit.com
 

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My top tip, 

 

Check and check again before you click bet

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Learn as much as you can, there are literally thousands and thousands of pages about Matched Betting; for every signup, reload and offer you try, there are probably couple of videos, articles, blog posts, facebook group info so worth checking; 

Stick to the "matched" part and if you have a problem with gambling, either set yourself to never bet without lay or walk away before you lose your hard earned money. 

 

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Trust the +EV

and

People will mainly tell you how much they have won not what they have lost.

and

Try not to do extra spins...

I mainly do casino offers now 99% of my profit is casino related. 

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Don't let FOMO ruin matched betting for you, you can't do every offer under the sun so just do a manageable amount and if you need to take a break for as long as you need! 

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Learn some of the theory behind what you are doing in my case you find yourself in a tight spot.

Most importantly, the liability When laying at the exchange  and how that balances against your bookie back bet.

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... don't get carried away by how easy your first few offers are to complete, it gets harder very quickly as soon as you make your first mistake  which will probably be a silly one. An example being the OddsMonkey OddsMatcher tool is great BUT the default filter setting of events up to 2 MONTHS in the future is no good if...

 

  1. You are going for a bet club that is happening each week or an offer that is time qualified you have just failed to be within the Ts and Cs of the offer if you don't notice the match or event you have just bet on is 2 or 3 weeks away.
  2. When you do 1. above you will also have tied up your Bookie balance and more importantly your Exchange Balance because of the liability for your Lay bet for the duration of the bet which could be days or weeks.

A couple of people have mentioned checking carefully before you bet but this is an example of how I got caught TWICE but the daft thing was it was a large amount tied up for a very small return.

 

I felt silly the first time, swore at myself the second and have never done it since......

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My Top Tip .... don't run before you walk!  Take your time and learn what to do 🙂

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Early lesson for me. Always check you don't have limits set on your exchange account. placed a backing bet, but could not lay it off as i had exceeded my limit. Got away with that one as it won anyway. But having asked Betfair for an increase turns out i have to wait until Saturday before i can continue my journey. 😞

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Accept here and now

1. You're going to balls something up at some point. Probably you're going to balls multiple things up multiple times. It happens. And yes, it hurts. But it doesn't mean you're dumb or that matched betting is pants - when you're dealing with multiple sites with fast moving data stuff happens. Figure out what you've done, if you can, and move forward. Your time is better spent looking for your next opportunity than beating yourself up.

2. You are never going to be able to balance your spreadsheets to the penny. When i started out I must have used 4 different spreadsheets, double checked every entry and I was still pennies out. And it would drive me MENTAL. I'd re-input all the data trying to make it all nice and neat. The thing is rounding etc can throw your figures off. You have to weigh up if the time spent chasing those pennies down is better spent somewhere else.

2b. Also, there is no one perfect spreadsheet - what's perfect for you isn't for someone else. When you try to put a million auto calculations into a spreadsheet you introduce more opportunity for it to go wrong when there are variables (like an exchange offering different % on different sports, weird offers etc). 

3. You're gonna get gubbed. No matter what you do - and at first it hurts. Some hurt more than others. But you move with it, diversify, find your niche. You might have to put a bit more effort into it but the money is out there. 

4. EV works - as stated above. It really, really REALLY does work itself out over time. You ARE going to have offers where you lose everything and you'll probably think their auto blackjack is 'fixed', that they've 'fixed' a particular slot to not pay out at EV. Turn the music off, set the auto spin running and try not to get emotionally invested in the offer. I make a note of starting balance, end balance and move on. So it just becomes numbers. When you're sat there watching every spin it can get a bit emotional and before you know it you're having 'just one more spin' trying to make back some losses and what's that? Repeat after me....That's gaaaambliiiiing, Missus Niiiiixxxoooonnnnn. And what do we not do, class? That's right, we don't gamble. 

5. You're going to get a bit evangelical about it. After all, s'free money init! And I can guaran-flippin-tee you that 99 out of 100 people you tell will not get it. Even if you show them your spreadsheet showing all the lovely money you have made. They are going to say they haven't got time or it's gambling or bookies don't give money away, there has to be a catch. Or they just can't be arsed. Now, as you're a bit evangelical this will batter your head. But really, leave them to it. More lovely, lovely cash for the rest of us, eh? 😉 

6. You're going to need a break every now and then. That's ok. The world isn't going to end because you miss some offers. There will be plenty more along in a while.

7. Oh and yes you bloody do need to pay for Oddsmonkey. It's a total no brainer. Now, don't argue with me, just sign up.

 

Have fun, learn everything you can, learn to use the search function and make lots of money! 

 

 

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7 hours ago, Nixy said:

Accept here and now

1. You're going to balls something up at some point. Probably you're going to balls multiple things up multiple times. It happens. And yes, it hurts. But it doesn't mean you're dumb or that matched betting is pants - when you're dealing with multiple sites with fast moving data stuff happens. Figure out what you've done, if you can, and move forward. Your time is better spent looking for your next opportunity than beating yourself up.

2. You are never going to be able to balance your spreadsheets to the penny. When i started out I must have used 4 different spreadsheets, double checked every entry and I was still pennies out. And it would drive me MENTAL. I'd re-input all the data trying to make it all nice and neat. The thing is rounding etc can throw your figures off. You have to weigh up if the time spent chasing those pennies down is better spent somewhere else.

2b. Also, there is no one perfect spreadsheet - what's perfect for you isn't for someone else. When you try to put a million auto calculations into a spreadsheet you introduce more opportunity for it to go wrong when there are variables (like an exchange offering different % on different sports, weird offers etc). 

3. You're gonna get gubbed. No matter what you do - and at first it hurts. Some hurt more than others. But you move with it, diversify, find your niche. You might have to put a bit more effort into it but the money is out there. 

4. EV works - as stated above. It really, really REALLY does work itself out over time. You ARE going to have offers where you lose everything and you'll probably think their auto blackjack is 'fixed', that they've 'fixed' a particular slot to not pay out at EV. Turn the music off, set the auto spin running and try not to get emotionally invested in the offer. I make a note of starting balance, end balance and move on. So it just becomes numbers. When you're sat there watching every spin it can get a bit emotional and before you know it you're having 'just one more spin' trying to make back some losses and what's that? Repeat after me....That's gaaaambliiiiing, Missus Niiiiixxxoooonnnnn. And what do we not do, class? That's right, we don't gamble. 

5. You're going to get a bit evangelical about it. After all, s'free money init! And I can guaran-flippin-tee you that 99 out of 100 people you tell will not get it. Even if you show them your spreadsheet showing all the lovely money you have made. They are going to say they haven't got time or it's gambling or bookies don't give money away, there has to be a catch. Or they just can't be arsed. Now, as you're a bit evangelical this will batter your head. But really, leave them to it. More lovely, lovely cash for the rest of us, eh? 😉 

6. You're going to need a break every now and then. That's ok. The world isn't going to end because you miss some offers. There will be plenty more along in a while.

7. Oh and yes you bloody do need to pay for Oddsmonkey. It's a total no brainer. Now, don't argue with me, just sign up.

 

Have fun, learn everything you can, learn to use the search function and make lots of money! 

 

 

That's gaaaambliiiiing, Missus Niiiiixxxoooonnnnn

 

😄 Great advice! 

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My top tip for a beginner is...

Work through the simple start up offers, with the big reputable firms, so you get the hang of it and get those accounts set up and working with your bank / exchange, then I recommend taking back the money you used to start it up as soon as you have a pot that will allow you to continue, and that will take off the pressure / worry about losing your own money and as you grow confidences so will your pot of money! 

 

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Sign up to Oddsmonkey and link your account to the exchanges- you can lay your bets at the exchange from the Oddsmatcher tool with the click of a button, saves having to log in to the exchange. It also shows your balance and tells you if you have sufficient funds for your liability. It makes everything so much more simple. 

You will want to read as much as you can- it takes time to get your head round it all, so take days off- it can end up dominating your life in the beginning! 

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Read the guides on TP at least twice!  

Pay for Odds Monkey you won't regret it for the 0% commission and finding close matches and integrated once click laying.

Go slow, check check check again.

Walk before you can run - don't worry about 2 ups / 14 ups / Hi5 etc until you've finished the isgn up offers. 

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My top tip for a beginner is....

 

Do not bet on obscure football teams, try to stick to popular ones.  Also, some bookies gub you quicker if you do horse bets e.g. Bet365.

Also, use Smarkets or Matchbook as your Exchange whenever possible whilst the 0% commission offer is on - it really makes a difference to your profit or qualifying losses.

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It's already been mentioned but CHECK your bets before you click those buttons. Check again and again. Then one more time! 
 

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Top tip for beginner from me is:

Open up a basic bank account specifically for matched betting and a separate email account, much much easier to keep track of funds and emails from bookies.

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I'm quite new to this myself, but getting oddsmonkey straight away is my big thing. Its such a nightmare trying to manually organise profit once you've already been doing it for a while .It also massively helps me to organise my sign up offers and what free bets I have used. (Everything is listed as Normal, or SNR bet). The £1 trial is the best things, and a no brainer. 

Get a diary. A day per page diary & make sure Saturday and Sunday has its own page as these will be the biggest days. 

It's easy to read everyone else's posts, and see how much they're making and sometimes be discouraged by your lower profits. Don't let it. Everyone has different reasons for matched betting, different bank sizes, and different financial commitments. Some people dip into their profits, some let it accumulate which means they can hit the higher offers/profits a lot quicker.  Go at your own pace, do what works for you. 

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My top tip for a beginner is....

Treat MB like your own business - make separate bank/email accounts, be professional about structuring your MB time and respect the value of money.

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