While many focus on winning, many matched betting mistakes could easily be avoided – improving profits drastically.
It’s the non-sexy truth that doesn’t get enough attention but the key to highly profitable matched betting is to get the highest possible returns for the least possible time.
Here we take a look at five easy improvements the majority can make instantly…
(1) Wasteful Matched Betting – A Logical Long-Term View
Matched betting isn’t rocket science, let’s be honest. You don’t have to do anything fancy or clever, changing your perception a little and being consistent is more than enough.
Think about matching losses exclusively for a moment.
If you think beyond your next two bets it’s easy to see that they soon add up. The table below says it all…
If you’re a part-time matched bettor, completing just 10 offers per month, that means you’ll place 20 bets in total.
If you’re using Betfair exchange as the place to lay off your offers, it’s likely you’ll be losing at least 75p-£1.50 each time. For those in a hurry, it’s more likely to be £3 or so.
Ouch! That’s a weekend break for two wasted every few months.
But I get it, you don’t want to spend another 20 minutes to find an efficient match…
(2) The Tracking Trap – Data Abuse…
Experienced matched bettors will be aware of programs like IE Snare. Being careful with which IP addresses, devices and browsers you use for your matched betting is wise. The bookies are using algorithms and tracking cookies to watch us all. Don’t be flagging yourself as a matched bettor unnecessarily.
Furthermore, be very careful which links you click on when signing up for free bets.
In the past, thousands of matched bettors have all seen their accounts gubbed on the same day. Nobody knows for sure, but there’s been suspicion that some matched betting services have sold-out customer data to the bookies. Pretty shocking if they have really…
However, I know for sure that OddsMonkey’s matched betting service goes to extreme lengths to make sure that doesn’t happen. Any links to the sportsbooks are sent via randomized third-party redirects.
You could take this one step further of course, sourcing the offers via their service and then finding them on google.
(3) No Strategic Plan (A Few Tips Here)
Failing to plan is planning to fail as the saying goes. This is extremely important with your matched betting for several reasons…
You’ll find different offers and larger free bets depending on:
- Time of year
- Major sporting events (like the World Cup)
- Bookie marketing campaigns
- Types of bets
If you’re only interested in the best offers, it’s a good idea to set up some google alerts or check out a matched betting calendar. Let them do the hard work for you!
Making a note of when the enhanced offers start leaves you in a better place for the next time around. Creating habits and being prepared is crucial to any type of success, so form yours in a way that ensures maximum efficiency whilst fitting around your daily life.
(4) Suspended Working Capital:
Getting your betting balance caught up in a sportsbook when they start asking for documents sucks. To some extent, it’s part of the process though, so get them prepared too!
There’s nothing worse than looking at a juicy offer when your money is tied up elsewhere. One solution to this is to lay off your bets with Matched Betting Pro, one set of checks for effective lay matches and less hassle is ideal. Plus, you’re laying at the bookie’s higher margin prices so there’s more chance of the money staying in your exchange account.
I wouldn’t advise picking higher lay prices in an attempt to keep your balance in exchange accounts, it doesn’t make sense mathematically, and on that occasion it goes wrong – your whole balance is tied up.
(5) Keeping The Balance – A Matched Betting Advantage.
Lastly, a little matched betting tip outside of the technicals.
Stop to think for a moment, what’s more important? Blowing your profits on something fancy at the weekend, or expanding your matched betting balance. To some degree, it’s personal preference, but numerically, it makes sense to expand that balance and give yourself more freedom to complete offers. Just like having a small float is a disadvantage, having a big one is useful.
Spending money to make money is far harder than working for it…
The choice is yours, but keeping that balance for future growth is a wise move. A matched betting mistake that so many people overlook!