Tricks & Tips #1- Mug Bets, Bank and Profit Tracking

KEEP TRACK OF YOUR BETS, OFFERS AND PROFIT

After each bet placed you should log it down, on a free downloadable Excel spreadsheet we provide BELOW.

Record the dates, which bookmaker, stake value, the odds..this way you can keep a track of profits, free bets owed, bonus wagering requirements, and much more. It will be crucial to your ongoing success. Oddsmonkey provide a brilliant free tool called the Profit Tracker, which calculates your profit for you as you place bets via their integrated calculators. We will dive further in how to use Oddsmonkey's tools in another post...

You could start matched betting with no long term plans, completing every welcome offer, and you will easily make a few thousand, but at least £500+ a month for the foreseeable future can be earned. After doing all the New Customer Offers you will be relying on reload offers to keep the money coming in, and reloads are lucrative. This is when you need to keep accounts in good condition. One way that you can achieve this is with Mug Bets, although many experienced matched bettors say it makes no difference! It is up to you whether you do “Mug Bets”..

Welcome to another blog post!

This one aims to give you a better chance of making a profit with a few useful tips and insights... read on...

Mug betting takes its name from the idea that most people betting are silly mug punters betting on a favourite football team. You cannot beat the bookie long term unless you’re doing matched betting. Bookies don’t like it and, if they suspect you they will limit your account so that you aren’t eligible for bonuses. You should start mug betting after you have completed all the signup offers and are ready to start reload offers with that bookie. You should do every signup offer first, one by one, afterwards, start the mugging and reload offers.

Pick a popular UK based football team that you can ‘support’. When your team plays you should bet on them to win no matter who they are playing, like a normal football fan would. Back and lay your favourite team as much as possible with all the bookies you use the most. Mugging is all about looking normal.

Bookies love it when you throw money away. Place 50p or £1 on a 5 or even 6 fold accumulator on whatever sport you are mugging. You can lay accas to make them risk free, you can even get free bets, but that is explained better at Oddsmonkey and for £50p or £1 it’s not worth the time and effort. Treat it as account preservation.

This mug betting game is all about appearing to be a normal mug punter, so place the same kind of bets as a regular gambler whilst not risking your cash! Your mug bets should be of similar stakes to qualifying bet stakes. Don’t just bet high stakes when there is a free bet to be had!

Thousands of average punters place bets on their phone as well as a laptop, so do the same!

Place bets on your mobile.

BUILD BANK

You should treat matched betting like your own little business that you can build up over time Just let the profits build up in your separate matched betting bank account, including all cashbacks and casino profit, until you have a few thousand available to work with. The problems beginners with small banks have are all related to cash flow. You want to be able to do all the offers without worrying about if you have enough money available to do it to the full extent of the bonus available. For long-term matched betting, around £3k as a bank is best before you take profits out.

Mug Betting

By using a logbook and/or Oddsmonkey's Profit Tracking Tool, you can easily see how much profit you are making, and where you may be wasting your time on certain offers.

I hope these tips help you make more money and preserve your accounts!

In the next post, you will learn how to use different ways to lay a bet to squeeze more profit from free bets!