Random Matched Betting Advice

July 7, 2011

1. SR and SNR Free Bets

Let’s start this poorly structured article with a recap of the two main types of bookmaker free bets. You should already know this if you have read our matched betting guide.

Stake Not Returned (SNR) Free Bet – a free bet that does not include its stake in potential winnings. Subtract 1.00 from the odds to calculate how much money you will have after winning such bet. The majority of free bets don’t return their stake.

Stake Returned (SR) Free Bet or Cash Bonus – a free bet that includes its stake in potential winnings. SR free bets or cash bonuses usually have minimum wagering requirements before withdrawals can be made, so read terms and conditions carefully.

Distinguishing between Stake Returned/Cash Bonus and Stake Not Returned free bets is essential as they have to be extracted differently. To find out whether a free bet returns it’s stake, scrutinize it’s T&C’s. If they never say that the stake is excluded from winnings, that is a Stake Returned free bet.

Those who are new to matched betting should start with extracting SNR free bets. 

Why?

Because SNR free bets don’t have any wagering requirements before withdrawals can be made, which is essentialwhile your matched betting bank is relatively small. Save SR free bets or cash bonuses for later.

It may seem that SNR free bets are less profitable, however, more than 75% of these free bets can be cashed in by properly placing a lay bet with Betfair.

As a general rule, you should use high odds for extracting SNR free bets. For example, at the odds of 5.0, 80% of a SNR free bet can be extracted, while it is only 67% at 3.0 and 50% at 2.0.

To calculate the sum you should lay for cashing out a SNR bet, use our matched betting calculator. Just enter the odds and your free bet stake, and it will do the rest of calculations for you.

2.Place Back Bets First

It is always better to place bets with bookies first, and there are several reasons for that.

First, bookies change odds in large steps (say from 2.0 to 2.5), while in Betfair odds move more gradually. A rapid movement in the odds when you have placed one of the two bets may cost you some money.

Second, you are more familiar with Betfair than you are with any other bookies, thus you can place a bet in Betfair faster and decrease the possibility of odds changing before you place the second bet. Some bookies have rather confusing betting interface that you may not understand at first (it has happened to me).

And finally, if your internet connection or computer break down when you have placed one of the two bets, you only risk your stake (or nothing if that is a free bet), which is smaller than your liability (if the odds are at least 2.00).

3. Managing Funds

To manage your matched betting funds more effectively, keep a record of how much you have deposited where and which free bets you have extracted.

For transactions use only your credit card or Moneybookers account. You will be able to transfer funds from bookies to Betfair and vice versa much faster if you use Moneybookers.

Neteller and PayPal are also accepted by the majority of bookies. Avoid using bank transfer as it is very slow and may have huge transaction fees.

4. Internet Connection

A stable and fast internet connection is a must for successful matched betting. Imagine what it would be like if your internet connection went down when you had placed a back bet and were just about place a lay bet.

It is also annoying if bookie web pages load slowly when the odds could change any minute. Invest in a good internet connection, and you will save a lot.

5. A Bank Account Solely for Matched Betting

It’s definitely a good idea to have a separate bank account and credit card for matched betting. Preferably this account should have Sterling Pounds (GBP) as its currency (or one of its currencies) to avoid double conversions (more free bets are available in GBP).

Using a separate bank account allows you to distinguish your matched betting profits from money you’ve made elsewhere . You are also less likely to spend your matched betting funds sooner than you should if they are stored on another account.

Moreover, it is safer to have a separate matched betting account or an account that you use for online transactions. Although I’ve never

heard of any problems experienced by matched bettors, there are some risks involved in actively using your credit card online.

 6. Make £10,000

Did you know that matched betting can completely transform your life by offering an unlimited income stream? You may be wondering how is that possible. Actually it’s pretty simple. Once you have run out of free bets to extract, simply start doing it again. Of course, you can only get free bets that are given to new players once, but you can claim them again!

Recommend matched betting to your spouse, siblings,parents, children or any other relatives, assist them and you will be able to use your skills to improve your family’s finances. I’m sure your relatives will be glad to get additional income from matched betting; however, they may also find it confusing, so your job is to help them out in the beginning.

Explain them the most important concepts and help placing the first bets. They will appreciate it. Similarly you can assist your friends or colleges by sharing the priceless knowledge you now have.

There are, however, some technical things you should take into account before doing this (such as not using the same IP or MAC address again). To avoid problems, I would recommend using a different internet connection and (if possible) a different mailing address when your friends or family start doing matched betting as well.

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