One thing is for sure, The more organised you are, the more profit you will make. Check out these Advanced Matched Betting Techniques.
Get a Separate Bank Account for Betting
It will be ideal to open up a new bank account when you are starting to plummet deeper into Matched Betting. My personal recommendation is the Halifax EasyCash card, this is a Visa Electron card, which gets sent to you through the post. Applying for the EasyCash is hassle free, you don’t need to mess about going into the branch, it can all be done from home. Why should you open a New Bank Account?
-You can see your profits from Matched Betting. This account is now solely matched betting money, meaning no bills coming out. This will also enable you don’t have to keep transferring money around.
-It helps you retain your profit. In Matched Betting, it’s very true that the more money you have, the more you will make. Ensuring you have a separate account means you don’t need to dip into this and take funds away.-You probably don’t want a bank statement listing all of your ingoings and outgoings, especially when it’s all to bookmakers! I have heard stories about it causing issues when it comes to mortgages, note, I personally had no issue! It would be a nightmare to go through your bank statement with all of these transactions on, so to keep it separate makes perfect sense
– You can’t see the money. If the money isn’t sitting there in your everyday current account, you won’t feel as tempted to spend, meaning you can keep hold of as much money as possible.
Grab a Pen & Paper
I have been Matched Betting for 3 years now and I can safely say I have tried every method of tracking my bets. I have tried advanced spreadsheets, but nothing beats the pen and paper method!
The problem with Spreadsheets? Time. Do you have the time to consistently update a spreadsheet? Have you got the time to input the data in the first place? I like to log onto my computer, make my money & log off. This means I don’t want to spend my time inputting data into a spreadsheet.
The data you would have to input on a spreadsheet is as follows:
(INPUT DEPOSIT INTO BOOKMAKER) DATE & TIME OF EVENT, MARKET, BET, BOOKMAKER USED, EXCHANGE USED, BACK ODDS, LAY ODDS, COMMISSION, SNR or Qualifier.
Here is the alternative, A notebook, or a Day to a Page Calendar.
All you have to scribble here is the bookmaker used and what you have bet on!
You will save so much time in the long run, and as you are spending less time Matched Betting, your Matched Betting wage will increase! You will always have time to scribble into a calendar/diary as you can do this in one hand, while placing bets in the other. The spreadsheet is VERY high maintenance. Also, there is every chance that the file could become corrupt.
However I will admit that all of my Bookmaker Account details are kept on a secure Word Document, they are really easy to password protect.
How can I look like a Punter?
Punters love the idea of getting one over on the Bookmakers, however, the house always wins! They bet very regularly, thinking they can make some easy money. However, there is a distinct profile most punters have.
– They have an accumulator full of favourites. This is known as a ‘Banker Bet’, where they are sure they will all win. Very rarely do they! These accumulators tend to have 7+ selections, as that’s when the odds start getting quite high (all favourites are low odds), if you bet anywhere up to £10 on these you will be ticking all the punter boxes. £10 is just an example, I know of a few pub locals that always do a 50 pence acca! Accumulators offer no real value, so bookmakers would love you putting these on
– Pick a Team. Punters bet with their heart, if they were to see their beloved Chelsea playing an out of form Burnley, they would sure put a few quid on as thats ‘Nailed on to win!’. Consistently betting with a team such as Chelsea is a great idea, as they are often favourites, heavily underpriced.
– Stick to the Main Leagues. Matched betting can be difficult, as one of the key ways to keep losses down is to take close matches when backing and laying. You will be generally be overlooked if you take a close match on the Premier League, but if you were to bet on the Mexican 2nd Division and find a close match, alarm bells may ring here and the bookmakers would soon review your account. It would be clear from a bet like this, that you are using bet oddsmatcher software to find things to bet on. Which leads to point 4…
– DO NOT ARB. Arbitrage is a tricky one, as sometimes the prospect of making a guaranteed profit can be very tempting. Arbitrage is to take value on a Sports bet, where the BACK price is larger than the LAY price. Recently, bookmakers aren’t tolerating this & have banned many accounts after their first arb bet. Personally, I place a few large stakes Arb bets if I have been promo restricted from a bookmaker, as there is no longer any value being a customer.[/panel]