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Matched Betting Profit Tips

Matched Betting Profit Tips

When matched betting we want to be squeezing as much out of the free bets and bonuses that online bookmakers give us as possible. This is what matched betting is all about, and there are things you can do which will help you profit the most out of your free bets.

Find the closest odds you can

This is a given. The closer the back and lay odds are to each other, the more profit you’re going to make mathematically. Therefore, ideally, you want to be looking for events with a percentage of over 95. However, you MUST take into account the time you’re spending finding these odds. Matched betting becomes less lucrative when you’re spending ages choosing odds to use since time is relative to money. Therefore, when you find good odds, find the event, work out your bets, place them and then move on to the next offer. Stop wasting half an hour looking for odds that will make you an extra 10 pence profit – it’s all about “time” when you’re matched betting.

Use higher odds

One of the big “profit paralysers”, which I so liked to call them, is not using higher odds for your free bets. Simply put, the higher odds you use, the more profit you’re going to make. The problem lies in the liability and an apprehensiveness to put more money into the exchange bookmaker. This is understandable if a person doesn’t have the sufficient funds and can’t reliably deposit more into their exchange. However, if you do have the bank, then don’t worry about your liability. It’s all covered by your back bet, so your money is safe. Using higher odds will make a huge difference to your overall profit. Let’s say that you use higher odds from now on, and it generates an extra £4 per free bet. If you’re placing 100 bets a month, in the usual matched betting way, you’re looking at an extra £400 of tax-free money, every single month. That’s insane!!

Keep yourself organised

I can’t stress how important this is to maximising your profits when matched betting. It sounds mundane, but making sure you use a “tracker” to track your progress is imperative to building better profits. If you’re unorganised, then you’re more liable to make mistakes, hence hinder your earnings.

Patience is a virtue

The key to long-term and significant profits is patience. There is so much money that can be made with the Horse and Football Refills, but patience is required to find the best horses or matches to use. It is inevitable that you will find excellent ones to use, so the more patient you are, the more profit you’re going to make in the long-run.

Keep Calm and Keep Matched Betting. Have a great rest of the week.

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VIP Betting Tips v1

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Full network access:

- Allows the app to create network sockets and use custom network protocols. The browser and other applications provide means to send data to the internet, so this permission is not required to send data to the internet.

Prevent device from sleeping:

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Bankroll Management - How To Grow your Money When Betting

Bankroll Management

Most people that read our site are recreational bettors.

Chances are you are too.

So, listen good when I tell you that bankroll management is one of the most important things you can learn.

What is bankroll management? At face value it’s pretty simple:

You manage your bankroll in such a way so to avoid going broke.

Told you it was simple.

For most people it’s not ‘getting it’ that hurts them. Or, even agreeing that bankroll management is a good idea.

(Because anyone that argues otherwise is a dummy.)

The problem for most people is sticking to it. Seeing their plan through, even when the going gets tough …or really, really good.

Oh yeah, you read that right.

Bettors get all screwed up even when they’re winning.

Tilt Affects Everyone

First – what is tilt?

The term comes from poker. That’s where I first heard it, at least.

The best way to think of it is like this: your feelings on a scale.

When everything is normal, you’re balanced. No emotions swaying your decisions one way or the other.

But when something really good or really bad happens, some people’s scale will ‘tilt’.

People who allow themselves to tilt often do (stupid) things that are out of character.

  • They chase losses.
  • They make bets larger than they’re supposed to according to their guidelines.
  • They ‘let it ride’.
  • They blow their bankroll and deposit more money.
  • They go after the longshot bets.
  • Etc.

This can happen to you, no matter if you’re winning or losing. Usually when you’re losing, though.

Either way the result is you usually lose money.

The good news – tilt it an emotional response. It’s perfectly within your ability to control how you feel, and how you react to your feelings.

It takes practice. But you can get there.

For starters, you need to follow your bankroll guidelines to a T. I’ll give you an example of what you can follow in just a sec.

You also want to view your money as a tool. That way you detach yourself from it. Just look as your money as a tool for making more money.

I also recommend not being results oriented (be process oriented instead). That means not looking at your bankroll or win/losses every day.

Those are just a few tips to help you tilt less.

Now, let’s look at some bankroll guidelines.

An Example of Bankroll Management

Here’s an example:

Say Bill has $500 to bet on sports for the entire football season.

And if Bill loses his bankroll he’s done. Because if he tops it off, his wife said she’ll leave him for the milkman. So, it’s in Bill interest to make his money stretch for as long as he can.

This is what I recommend Bill do:

He should spend no more than 1-2 percent on any given line/match. In this case that means he’d bet no more than $5 or $10.

That also means that if Bill loses money, he’ll wager less on future bets. But if he wins money he’ll be able to bet more (which helps to curve the temptation many bettors have).

Make sense? It’s pretty simple.

Keep in mind you may have to make adjustments to your strategy if you don’t have $500 to deposit. You may have to adjust your strategy to bet the minimum until you’ve won enough to bet 1-2 percent.

Of course, you could bet more than 1-2 percent. You could bet 5 percent. Even 10.

But you need to remember that you’re still going to lose, and that there’s a fair amount of variance when it comes to any form of gambling (especially coin flips).

If you bet 10% it is VERY possible Bill goes broke due to a streak of bad luck.

In which case Bill’s wife will start flirting with the milkman.

So, I recommend you stick to my guide above.

One other thing – it’s important to realize it’s not just about the amount of money you have and how much you bet on each line.

It’s also about the types of bets you make.

For example, straight bets are the best for smaller bankrolls because they’re pretty much coin flips. You have a 50/50 shot of making money.

Unlike betting on parlays, or some other kind of long shot option. They can pay off – if you win – but winning these are far and few between. Much farther than a straight bet.

Conclusion

Bankroll management is important. That much should be obvious.

But what’s equally important – if not more so – is managing your inner game.

Avoid tilt. Avoid greed. Avoid stupidity.

If you can do that you stand a chance at making a few bucks betting on cricket matches.

For more tips I suggest checking out our strategy section.

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How do bookmakers earn their money? Betting tips, United Kingdom, BetCraft

How do bookmakers earn their money?

Have you ever wondered why bookmakers are as rich as they are and how exactly their money is earned? Well read on…

Also known as the ‘juice’, ‘overround’ or ‘vigorish’ (depending on which side of the Atlantic you originate from), this is essentially the cut that the bookmaker takes from each bet placed, you could call it their commission. Let’s illustrate it as follows with my usual heads and tails example.

“The probability of the coin toss landing on heads is 50%, which is an evens bet, or 2.0 in decimal terms. Were a bookmaker to offer you those odds then after an infinite number of bets placed on heads you will be right back where you started. No win, no loss.”

Whilst this is no win, no loss for the punter, it is the same for the bookmaker. They get nothing out of offering such odds which is why they build a margin into every odd that they offer, an unfavourable discount against the true odds.

If a bookmaker were to offer odds on our coin toss, there is a good chance that they would be as follows: Heads 10/11 (1.909 in decimal terms),Tails 10/11. Bet your £10 on heads, if it lands then they will payout £19.09 (£10 original stake plus profit of £9.09). Throw the coin 500 times with 500 people betting heads and 500 people betting tails and these are what the numbers look like from the bookmaker’s point of view:

Bookmaker takes £10*500*2 = £10,000

If 500 tails bookmaker pays out £10*500*1.909 = £9,545.46

If 500 heads bookmaker pays out £10*500*1.909= £9,545.46

In fact any combination of heads and tails thrown in your 500 spins will cause an identical payout of £9,545.46. It is this bookmaker profit of £454.54 that is the margin, or in percentage terms 4.55% (454.54/10000).

Why is this useful?

To know the bookmaker’s margin tells us not only what the bookmaker is making out of a market where they have a ‘balanced book’ (i.e. where they will payout equally regardless of outcome), but more importantly it tells the punter how far away from the true odds their bet is, or in simple terms, how bad the bet is likely to be.

Anthony Joshua and Wladimir Klitschko fight in a few weeks time and 3 bookmakers have the fight priced as follows:

Pinnacle.com Joshua 1.473 Klitschko 2.85

188bet.co.uk Joshua 1.38 Klitschko 3.00

Netbet.co.uk Joshua 1.39 Klitschko 2.7

To calculate the margin we add the reciprocals together so:

Pinnacle (1/1.473) + (1/2.85) = 1.03 or 3% Margin

188bet (1/1.38) + (1/3) = 1.06 or 6% Margin

Netbet (1/1.39) + (1/2.7) = 1.09 or 9% Margin

As you can see the margin, or commission charged by each of the 3 bookmakers is markedly different. Bookmakers often have the same, or similar margin across their site, or they may apply slightly different margins dependent on the sport, but you are unlikely to find a bookmaker with high margins on one sport but low on another, if they are good they are good, and if they are bad, well, they are bad.

This is important because most punters are loyal to 1 or 2 bookmakers, so before deciding who to plump for, just look into their margins a little because over the long run it is going to make a huge difference to their, and more importantly, to your pocket.

Please let me know what you think of the article by commenting below!

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