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Everything posted by BinoBalls
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There is no set standard and each bookie will be different. A friend of mine just kept getting a different current account opened and every time Paddy Power shut him down, he opened a new current account and started again. Each time it lasted a few months before the culled him for only betting on certain events. Bet365 - I have survived literally years with them and can only suggest it's because I only do their channel 4 races (high turnover for them so they are less bothered). If you start doing their random daily offers or their greyhound offers then they might say enoughs enough. But some bookmakers are much more strict. They can link accounts by your address, IP address etc. Who knows what they each do. The more you can change the better. William Hill are doing a great offer this month. Money back as a free bet if your horse finishes 2nd. 6 races a day, every day in December. Well worth a go if no one has done this before. Wait till 5-10 minutes before the race starts for the best chance of getting a close match on betfair. e.g. Back horse for £25 at William Hill for odds of 2.75 then lay at betfair for 2.85. If it wins or comes 3rd 4th 5th etc then you make a small loss. But if it comes second then you have a £25 free bet. Note you don't keep the stake on a free bet, which means when it comes to spending you're free bet, you're better off backing something at 4/1 or above in order to maximise the most value. I usually "trade out" the free bet on betfair so a free bet of £25 ends up having a typical cash value of about £18.
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It's hard to say for sure because I'm constantly moving money about accounts but right now it's probably about £600 per month. Back at the start it was more like £100 a month. I tend to only do (1) channel 4 racing, (2) the occasional bet365 live football in-play offer, and (3) any offers around the major horse racing festivals. So I kind of know when they are. I also have a close friend who does it and we pass each other info. For other stuff I don't really bother. eg Coral do occasional free £10 but I don't do that as I've heard of people being banned and it hardly seems worth it. Perhaps a pay-for service isn't a bad place to start until you're comfortable with the mechanics. I don't have different bank accounts as such - instead I transfer my wife, sister, dad etc money and they open bookies accounts for me. I then log on as them. It obviously has to be people you trust totally. Result is my sister is now banned from William Hill, Boylesports (they're horrendous for bans), and Stan James. You get the idea. Bet365 are the stalwarts. Haven't had a single account restricted / banned from there in 2 years. If I were you I'd also familiarise yourself with oddschecker - create a login and change it to Decimal odds so it's easy to compare with betfair.
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Ive been doing it for 2 years now. It's profitable for sure. If you are reasonable at maths then no need to pay anyone to tell you what to do. Downsides are bookies will usually eventually severely restrict your account. In the good old days I had 6 William hill accounts and 6 bet365 accounts. They both do offers on channel 4 racing every Saturday. I know nothing about horse racing but that doesn't matter. You basically back the horse with the bookies then lay it on betfair. With William hill, if it comes 2nd then you get a free bet. With bet365 if it wins at odds of 4/1 or greater, then you get a free bet on the next channel 4 race. Paddy Power gives money back (as free bet) in your horse finishes 2nd in quite a lot of meetings. The challenge is getting the odds at bookies and betfair to match (or near enough match). And it's also quite a time consuming way to spend Saturday if you have several accounts. Tips: don't get torn into every single offer going or they will shut you down. Stick to events that are high turnover. Don't back maximum stakes. eg bet365 allow up to£50 per channel 4 race. I do £30. Open accounts in close family's name too, but only if you have enough in your betfair account to cover the lays. This takes time. Bet365 do this great thing where on a Saturday from 10am, they promise to price match the top 7 bookies in every channel 4 race. So it's not too difficult to get a close match on betfair. Start small till you get the hang of it.
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If the authorities don't do anything, then it signals that underpaying tax to gain a sporting advantage is ok. Imagine for arguments sake Rangers had won 20 in a row during the EBT years before they were rumbled. Their chairman then concedes it gave them a sporting advantage and they lose the Big Tax Case. Are we really saying they get to keep those 20 titles??