Money Management

One of the biggest issues matched bettors have to deal with is managing betting funds efficiently. It takes less than an hour to extract a free bet, but it takes on average three to five days to withdraw funds from bookies to a credit card. Fund management might also be expensive if done carelessly because of commissions and currency conversions.

The best way to transfer from bookies to Betfair and vice versa is using online payment systems, such as Moneybookers or PayPal. They allow withdrawing funds from bookies and Betfair considerably faster than any other payment methods.

If your bank account doesn’t accept GBP without converting them, you can also save your funds from being double-converted by using online payment systems.

There are few bookies that only award bonuses to those who deposit with Moneybookers. On the other hand, there are many bookies that only give bonuses to customers that deposit with a credit card. Read bookmaker T&C’s carefully.

When you open an account with Moneybookers, choose GBP as your account’s currency. Moneybookers will also ask if you plan on gambling with your funds; confirm that.

There are only two cheap and convenient payment methods to choose from: credit cards and online payment systems. Never use other payment methods such as bank transfers. They are both time-consuming and expensive.

I recommend not withdrawing any profits from your matched betting bank as long as possible. You’ll be able to extract free bets and bonuses more efficiently and faster if you have a larger bankroll. It’s also a good idea to start with more than the minimal £50 for the same reasons.

Next: What Could Go Wrong

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