Mistakes are, sadly inevitable, when you matched bet. It doesn’t matter if you have just started, or you have been doing it for years - everybody makes mistakes somewhere along the line! If you do make a mistake then a couple of key things to do:
- Remain calm, a lot of the time the mistake can be fixed (more on this in a bit)
- If it can’t be fixed/is too late then we take it on the chin - and move on to the next offer being stronger for the experience. Don’t dwell on mistakes, this only leads to poor decisions later on.
How To Avoid Making Common Matched Betting Mistakes
There are a number of ways in which we can avoid making mistakes when matched betting:
- Always wait for a bet to be accepted on a bookie and matched on an exchange. Don’t assume that just because you have selected “place bet” the bet will be placed. Always wait until you receive the confirmation message.
- Always place your back bet first, don’t place your lay bet then your back as this can lead to all kinds of issues if the back odds change.
- For the first few offers that you do, use football for your bets. Football odds are generally fairly stable and also, with the big Premier League, have lost of money available in the exchange markets. You also do not need to worry about things like non-runners in horse racing for example.
- Linked to this, when you start, look to bet on the match result markets which are the win-draw-win. This avoids any confusion with over under markets and half-time/full-time markets.
- If you bet on tennis you need to be aware of different rules between the different bookies. We have a list of these here, but you are advised to hold off betting on tennis until you have become more proficient with matched betting.
- Don’t leave your bets until the last few moments before an event starts. Odds will be more fluid at that time and you could end up in a situation where the odds change and put you into a panic. Give yourself plenty of time to get your bets backed and laid until you are fully accustomed to the process.
- In relation to this, avoid betting on Greyhound racing when you start out. The odds are very volatile and there is very little liquidity in the markets until right up to the race starts. It is very easy to be caught out on these so avoid at the beginning.
- Avoid matched betting if you are very tired, under the influence or first thing in the morning after a heavy night before. You will not make good decisions in these circumstances and this can lead to mistakes.
- If you receive an offer via email, or through the post, always check with the team here that it is worth doing. Some offers will have some very sneaky hidden terms and condition in them, which could mean that your cash is tied up with the bonus funds. Post the offer in here and we can check it out for you.
- The "Win Both Halves" and "Half Time Full Time" markets, in football, are common bets that a lot of people get confused about. It is an easy mistake to make, as the wording of the markets can lead you to believe that they are the same thing - when in fact they are completely different. As a result of this confusion, a lot of people have wrongly backed and laid the two different markets, which can result in a loss of money. You can find a full explanation of the two markets here.
Example Mistakes with Solutions
“My lay bet hasn’t matched what do I do?”
You have a few options in this circumstance.
- If the bet is 100% unmatched we can just cancel the bet in the exchange. Then move back to the calculator and recalculate at the new odds
- If there’s still a while left until the event takes place you can also wait in the queue and see if the stake is matched. It may resolve itself, just don’t leave this until the last minute in the hope that it will be matched.
- You can also use Profit Accumulators Fixabet Calculator. The fixabet calculator can be used to help you work out partially matched bets/unmatched bets and will provide with the information you will need to resolve the issue.
Check out this video guide that goes through unmatched bets and the Fixabet Calculator in greater detail.
“I have laid the wrong event...” “I have laid too much/little...”
In a similar fashion to the previous point, if the lay bet you have accidentally placed on the wrong event if the only lay bet you have currently placed on that market you can simply use the cash out function on the exchange and then lay the correct event. If you have more than one bet on the wrong market/have laid too much or too little, then you will need to use the Fixabet Calculator once more.
“I haven’t been credited my free bet why is this?”
There are a number of reasons that you may have not been credited a free bet during a promotion:
- Does the promotion involve minimum odds/selection to be eligible for the free bet? If so you may not have met these. In a situation you can place a further bet that meets the required terms and, ordinarily, you will then receive the free bet
- Have you deposited using an e-wallet? Some promotions are rendered void if you deposit using an e-wallet such as Paypal or Skrill. Always double-check the terms and conditions for depositing on an offer and for signups, especially, always use a debit card for first deposits.
- Are other members experiencing the same issue? Pop onto the dedicated thread for that offer on the forum and see if other members have reported anything. If not, then post within the thread yourself to see if others have experienced it.
- When should the free bet/bonus be credited? A lot of free bets are not credited instantly, some are 24 hours after bet settles and some as much as 7 days after the bet has settled. Check the terms to see when you should receive them
- You may have been “gubbed” or restricted by the bookies. Being gubbed means that you will no longer be eligible for promotions with that bookie. Don’t take this personally, everybody gets gubbed by a bookie at some point. It is also not the end of the world and you can still make money! On rare occasions bookies have been known to “ungub” people, take a look at this thread.
Remember if you have any issues at all, are struggling to work out how to resolve a mistake - don’t panic! Contact us on the forum by tagging @administrators and/or @Moderators or if it is urgent call us on 0115 824 3730 (Tues-Fri: 9am – 5pm / Sat/Sun: 10am – 4pm)
Already A Member?
If you’re a Platinum member and you know someone who would like to earn a bit of extra money, you can grab your referral code here and pass it on - and we’ll give you £10.
Keen to Get Involved?
The great news is you don’t need to be a sports fan or betting fanatic to sign up and use Profit Accumulator. Many of our members are not sports fans and had never placed a bet in their lives but that doesn’t stop them from making some tax-free cash.
For more info on what matched betting is, check out these articles: