After the Initial Buzz of Winning in Matched Betting it can be a bit of a disappointment to discover that long term riches are not so easily attainable. The initial surge of free bets is easy because you are creating new accounts and getting access to a multitude of free bet offers that come with signup and 1st deposit offers. Once you are a customer of the bookie, they no longer have the same obligation to keep you sweet, so the offers become less frequent. You also have to be vigilant at keeping your account healthy or you could very quickly lose your account or find it severly restricted from any bonuses or free bet opportunities.
My first month was great, I made a profit of more than £1000 and as I discovered the world of matched betting began to get to grips with the lingo I found that Bet365, William Hill and Sky Bet were my preferred favourite accounts to work with. Unfortunately (for me), six weeks in and I’ve already been restricted on William Hill, Bet365, Paddy Power and 888Sport. I’m pretty gutted about this, particularly with Bet365 and William Hill. At first I was fuming and thought there must be bookie insiders monitoring the Matched Betting forums, looking for clues and patterns to follow what these matched bettors are betting on, but now that I’ve calmed down and can think more rationally, it seems I simply won too much into the bookie (especially in the case of William Hill). I took too much value from the bookmaker, which in turn made them no longer want me as a customer and restrict me.
It was news to me that a bookmaker would restrict you for winning too much, but it turns out this has been commonplace for years and there’s nothing we can do about it. The Guardian published an interesting article entitled All bets are off: why bookmakers aren’t playing fair in the summer of 2015, which talks about this very problem. Some of the matched bettors in the PA forum have managed to get their accounts reinstated and restrictions lifted after a period of weeks or months, but many haven’t and many others have simply cut their losses as soon as they receive the doomed email. I’m not yet sure if I will continue to use them in the hope of the restrictions being lifted or just cut my losses and move on.
It seems that to make long term profits with Matched Betting there are 3 betting strategies you can choose to follow: Accumulators, Football Refunds and Horse Racing Refunds. Each of these methods rely on you having an unrestricted bookmaker account that offers regular refunds. For example with William Hill they offer a stake refund (up to £50) if one leg of your 6+ accumulator loses. Several other bookies also offer this. Bet365 offer a stake refund on 2 x channel 4 Horse races per day, maybe more at the weekend and many bookies offer football refunds on first or second goalscorer, hat trick and other betting opportunities.
My favourite of the three is the accumulator refunds. Within Profit Accumulator there are 5 different systems you can follow to make money from the acca refunds, plus 3 more systems that have been provided by PA members, but are not endorsed by them officially. This makes things confusing from the get go, but if you choose one system and stick with it, you should be profiting quite quickly. It appears that many of the people following the acca refunds system can make a consistent £400-£500 per month, some are even making £1000 and a few claim to make more. However, the downside to running an acca system is that you need a large bank account to lay your bets with, particularly if you are running several accas per week. To make a decent profit you definitely need to be running more than 10 accas per week, probably more like 100 (It seems that you can expect to get a return of £3 to £7 per acca). This can become quite complicated and very time consuming. You have to be available to lay off each bet as one match ends and before the next one begins. With the Profit Accumulator forum there are several spreadsheets that can be used to track your acca progress. Using a spreadsheet, alarm reminders and ensuring your bank, bookie and exchange are plentiful with cash at the ready is essential to progress profitably with acca refunds. I quite enjoy this strategy and will probably continue with it, but I have made a few mistakes, missing a match to lay, double laying and of course winning into the bookies, which in turn had my accounts restricted. I’ve also set up a couple of accas that looked like they would make a decent return of £5-7 only for the odds to massively drift and end up making a loss of a pound or two. Pretty disappointing for a lot of effort.
Also, it seems that being gubbed from William Hill and other bookies can definitely be caused by accumulator betting when your acca contains games that are all on at different times. To fly under the radar you need to include games that are on simultaneously; which can be done, but is not as profitable. When I was banned from bonuses by William Hill I got nowhere requesting a reason on chat, but a few days later, I asked to speak to a senior manager on the phone and he advised me that the way I was placing the games in the acca appearead as if I was just chasing the bonus, because no two games were ever playing at the same time in any of my accumulators.
The horse racing refunds is another system that is making a nice consistent income for many people, but I think to get this off the ground you really need bookie accounts that have been used to bet on horses for a long time. ‘Mugging’ the account to make you look like a regular punter is essential for maintaining good account health, as well as not winning too often. Betting on horses can be a quick fire way to getting your account restricted. Bet365 in particular prefer football customers. If they see anybody taking value on racing they’ll shut them down and arbing (when you get an odds match so that the lay odds are less than the back odds and you instantly make a profit) will definitely get your account shut down.
I am discovering the world of Matched Betting through my subscription to Profit Accumulator and have found it to be a great website to be a part of. It is very easy to navigate, filled with useful information and a very helpful forum.