Beat the bookie – a phrase often tossed around in the betting world. But what happens when you actually manage to do it?
In this article, we’ll dive into my own experience, getting my account closed in just one day (plus a few others).
Read on to uncover strategies, tips, and the harsh realities of trying to beat low-margin bookmakers and staying ahead in the betting game.
When You Beat the Bookies…
Beat the bookie, beat the bookie! It’s a phrase that’s often thrown about in the betting world, possibly created by bookies themselves.
But if you do, this is what happens:
And this is how I managed to ‘beat the bookie’ at their own game…
Understanding Bookmaker Account Closures
Many punters find themselves in a frustrating situation when their bookmaker accounts are suddenly closed or restricted like above. This often happens when traders deem you unprofitable. In my case, I was given the reason: “the traders think you will be unprofitable for the business.”
This is a common scenario, especially for those who manage to beat the bookie using effective strategies. I created a quick YouTube video about the experience, if you haven’t already seen it you can here.
Naturally, the bookies are here to make money – they’re a business. However, I think this is now getting out of hand. There are low margin bookies to consider, or exchange, but the overall landscape is in trouble. If players can’t make a bet without being totally stopped from winning; what’s the point?
Perhaps the most tragic element to this experience is that you only find out individually after you’ve won.
Modern Betting – When Beating The Bookie Isn’t Allowed
As a trader, I’ve always preferred exchanges over traditional bookmakers. The over-rounds offered by bookmakers can be as high as 120%, while exchanges provide much more favourable odds. However, this shift also comes with its own set of challenges to consider.
It doesn’t look good at all, many have commented on Twitter which I shall come onto in a second. But bookmakers are now turning into companies that will only ever let you enter a truly horrendous proposition. If by any chance, you should find some value they will cut you off at the knees via premium charge (Betfair), limit your account for winning, or close you all together.
To combat this issue, I sincerely hope we see some more ethical low margin bookmakers pop up in the future. Or perhaps, if we’re lucky, see the industry regulator do their job.
Recently, @HBFBritain was set up by the BHA to voice the concerns of the punters. So far, all it seems like is a board of people who are paid by bookmakers to make people feel like they’re heard. Make sure you give them a tweet, I have! (no response as yet, shock).
If you’ve been following for a few months you will have seen this video where I asked Tanya Stevenson what she was talking about on about on Channel 4 Racing. Guess what, no answer.
To make matters worse (this is hilarious) she’s on the HBFBritain board of ‘independent’ advisers! How many bookies are stuffing her accounts with free bets I wonder?
With all the mergers and customer information being shared I fear this is only going to get worse…
My Strategy to Beat The Bookie Explained:
In the case shown above, my bookie-beating strategy was simple. I successfully identified betting odds that were significantly larger than they should have been. I didn’t care about predicting the future or anything like that, it was purely based on maths.
I say it was simple; and it is, in principle, although many would find it harder in practice. To find betting odds larger than their true value you have to monitor a handful of things (at the same time) and then act quickly. Staking correctly is also important.
Update: the full strategy is shared here in a YouTube video. The video also shows how profitable it was with my Bet365 account.
For more insights on how you can best make money from the exchanges, check out the beginners school section of our site – it’s a lot more sustainable.
Real-Life Horror Stories: Punters vs. Bookmakers
Someone on Facebook compared the bookies and account closures to going into Tesco’s only to be banned for only buying the bargains – seemed quite a fair comment. Here’s what a few others had to say…
Great point Tom (if you read Tom’s Bio, he’s Ex Betfair). Betfair made record profits of over £40 Million last year, guess they wouldn’t last long. For clarity: I didn’t suggest they ‘only’ lay winners, just everyone the same. I think Betfair would still do quite well from the amount of Premium Charges they take as well.
A quick Google show’s that Unibet (that owns StanJames) profit last year was recorded to be £69.7 Million.
Wow! This is terrible. For anyone that didn’t quite get that – the bookie allowed the user an account, and they had to roll over (turn their bets over several times) to qualify for the bonus payouts but then limited the user to maximum bets of a euro?! So, he couldn’t win his lost money back without pacing many bets reducing the chances of winning massively. If that’s strictly true it’s pretty horrendous in my opinion.
‘Licensed theft’ is a little strong, but in all honesty, I can’t argue with that. It’s pretty clear; come and give us your money or we will close you down. That’s a lot of bookmakers you’ve had trouble there with too Michael. Fair play to the ones that haven’t closed you yet.
It is quite surprising how many don’t know about this kind of behaviour. I think in years gone by it was okay as they could just tell a punter to get out of the shop and not bet there again. But with the rise of social media and the like more should know, by the way – if you agree feel free to tweet and share this post. Racing UK and At The Races News certainly won’t be sharing such information with their viewers (bookies mouthpieces).
Too many to answer…
It would appear that there is no ‘beat the bookie’ allowed. Betting Exchanges are the only option unless you’re a consistent loser.
Sorry if I didn’t get around to replying on Twitter, there were too many to answer! Feel free to share your story in the comments below.
Related: William Hill Account Restriction Problems – How to Proceed
6 thoughts on “How to Beat the Bookie: Account Closed in Just 1 Day!”
Think it’s shocking really, if a bookmaker can be allowed to only take bets from losing punters isn’t that surely a business that exists to extort money from gullible people? Surely that should be illegal ?
If they advertise a price they should be obliged to take bets from any account holder with a maximum liability of say £300.
This week I had a Betbright account closed down and I’m £350 DOWN on the account, what’s that all about?
Great video and although it was a serious subject, that was the only time I’ve seen you get fired up good and proper over something!
Can I just ask you something completely different?
On one of your earlier videos, you did something like lay double the stakes and effectively showed how doing whatever you did effectively “increased your upside” I think you called it, ie the green figures in the ladder grew upwards and so effectively gave you more margin for profit?
It was quite a short video but I can’t find it and I always like to know the theory and how the maths works with these things so would you be able to just explain what strategy that was and how you apply it?
It was probably relatively simple but just can’t find it!!
Cheers
Kevin
Pinnaclesports is the only bookie not blocking succesful professional bettors with lowest margin,if you wanna bet better do it there)
Hardly a surprise they’d close down an arbers account, not rocket science for the bookies to figure out you’re laying off on Btfair especially the nags. If you want to keep the account you needed to either avoid the nags all together or be a lot more selective.
I’m not condoning their behaviour as I’ve had all my bookie accounts closed or severly limited, 365 shut me down even though the account had lost around £500 as a traders decision. The days of arbing easy cash or bonus bagging have long gone , if you want to arb these days for worthwhile amounts you’ll need to get yourself a few runners and play the shops.
Hi Caan
Here in Australia international bookies are doing the same with Australian punters.
Yesterday 17thFeb.2016 Beftair was off for maintenance in Australia, turnover at the races was up as you would expect however odds were approximately 10% down on normal.FUCK BOOKIES.
A great show for your followers to watch on the net is The Punters Show with a professional(mad)punter,bookmaker(works for ROBBIE Waterhouse)and a IT guy.They do tell it as it is not like most media in Australia.
http://www.puntersshow.com.au/
Bookies court the people that make the most money for them and treat everyone else like dirt. Before exchanges, the horse punter was the valued customer as thats where most of the money came from. Now they’ve got those stupid machines (wouldn’t use one if you gifted me the money to play it, i’d keep the money and go and have a cup of tea instead). The people using those machines are now the valued customers, everything will be done to attract them and keep them there. As a result, the horse punter is now persona non grata and can be freely treated like dirt without fear.
Given that horse punters kept these people going for decades, they’re currently being stabbed in the back for their loyalty. Ditch bookmakers, dont even play their machines.