Matched Betting Update: Each Way Sniping

Matched Betting seems to have evolved now in our household! Mr Fire placed a few “normal” matched bets but just a handful. Something he read over on The Fire Starter had really piqued his interest – Each Way Sniping! Now its by no means risk free but the simplicity of it seemed very appealing.

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I’ve mentioned it a few times that Mr Fire works long hours, and his day job doesn’t really allow for him to matched bet on the “side” whilst the’s in work. The internet is locked down so much in the workplace now in most places that you cant even check your emails. What he liked about Each Way Sniping is he can do it on his phone and there is no laying required (you can lay if you wish to limit the losses and the oddsmonkey EW matcher does all the work for you) It means no longer do we need to stash a few grand into each exchange in order to make a few pound.

The Fire Starter explains EW sniping much better than I ever could but its basically betting on a horse to win or to place (the bookie tells you how many places they accept) You have the option of laying to limit the losses but Mr Fire is currently trying out not laying. Of course this means the horse may lose and you lose your bet but if the horse wins or places then you should be able to cover the loses that are made when the horse doesn’t win or place.

This method is all based on the law of probabilities, basically on average one win should cover the cost of several losses and still yield a profit. Pretty simple right? Of course if you can’t stand to see losses then you have the option of laying to limit it but Mr Fire cant do that at work.

This method of Matched Betting means you no longer need to wait for free bets or reload offers. It should also limit the gubbings (hurray for me!) since you look like a mug better who likes betting on horse racing. (No need to fear about trying to bet on that weird football team anymore!) Of course if you have a winning streak it will still raise flags.

So how does the each way sniper work?

We all know that bookies calculate their odds so they always make more money then they pay out. When it comes to them calculating paying for a “place win” they base it on a fixed function of the winning odds.

Using the law of averages, a horse should place much more than it actually wins so mathematically your horse will place or win more times than it loses.

How to make it risk free?

When you use an Each Way Matcher it will automatically calculate the amount you need to lay in order to counter act the amount lost if the horse doesn’t win or place. I’m not sure what will happen if your horse doesn’t run though. Mr Fire is testing out the no lay sniping and so far keeping his bets very low.

He is thinking of concentrating on the Each Way sniping for now.

Here is the normal Matched Betting for April

April Matched Betting Bet Type Profit Bookie Exchange
£2.64 Reload £2.64 Sporting Bet Smarkets
QL -£1.75 Paddy Powewr Smarkets
Free Bet £4.08 Sky Bet Smarkets

I don’t think its too bad considering its only about 20 mins work for Mr Fire.

 

 

Don’t forget if your interested in trying some Matched Betting, then I highly recommend Oddsmonkey. (affiliate link)  We couldn’t make any money without it! I also have a handy referral link if you would be so kind as to use it.

OddsMonkey

I also recommend Smarkets and with this handy little link you get a free £10 bonus!

Smarkets

How is your Matched Betting going?

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11 thoughts on “Matched Betting Update: Each Way Sniping

  1. Hi LMF,

    How is the each way going so far then?
    I’ve hit a bit of a bad patch recently, hopefully Mr F has gotten off to a good start.
    I think the main problem with this is going to be dealing with the days or even weeks where you are just about breaking even or have even lost money. I still think that if you do it regularly enough in any given month you should end up in profit every time but will have to wait and see.

    Couple of points of note:
    1. I think your explanation was a little over complicated. Basically all we are doing here is backing each way arbs. If you back arbs (without laying off) the expected value is positive over many bets. Simple as that! There isn’t anything special about the fact the bets are each way, it’s just that most of the value happens to be on the place part of the bet (the Ew matcher also throws up win arbs as well though).

    2. You will still end up being gubbed on most accounts but you should get a much longer run doing this than just backing straight up win arbs on football and the like. The bookies will likely know exactly what you’re doing, but if you keep stakes fairly low you are more likely to fly under the radar. Still… Better to do this on accounts where you have already had your promotions privileges taken away (or on accounts where the reloads are just rubbish and you will never do them)

    Good luck and hope you make some good cash out of it!

    Any questions feel free to drop me a line.

    Liked by 1 person

    1. So far not too bad, I did around 12 days in April and LMF did 3. I made £135ish and LMF about £10. Not too sure how many bets I did but I was aiming for 5-10 each day although I didn’t make a profit till the third day. I’m sure LMF will have all the details in a future post.

      Stakes are currenlty limited to £2 EW till we have both done alot of it (1000+ bets). They are spread across 10 bookies most of which don’t offer good Matched betting opportunities.

      For those people who can’t find the time to do traditional matched betting, I think this is a really good way of making the most of the accounts after the sign up offers. If we get gubbed then so be it but hopefully this will continue for a long time yet.

      Liked by 2 people

  2. Good luck with the EW sniping – I echo TFS’ comments – I only use gubbed accounts because of the arb factor. Two days in and I’m down by £50 already this month and I’m only doing max £2EW bets, so need to ride the variance and hope I come out positive by the end of the month.

    Liked by 1 person

    1. I had a bad start to the month as well weenie (and bad end to last month in fact) but the ship has been righted already so hopefully the same can be said for yours!

      Mr Fire – £135 up with 10 bets a day and £2 stakes sounds like a great ROI! Glad you got off to a winning start. It’s bad enough seeing the profits dwindle away but to start off on a bad run is much much harder. Hopefully you have a big enough profit bank to ride out any variance going forward and can see the bank grow from there.

      Liked by 1 person

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  4. Ooh I’ve never heard of each way sniping, might give it a go. I used to do quite well with matched betting last year but I put it on hold when I was looking for a mortgage and I need to get back into it. I love the idea that you don’t have to lay with this method! I found horses very time consuming because the odds change so quickly but this seems possibly a bit simpler once you get into it?

    Liked by 1 person

    1. Hi,
      Yes I can really vouch for each way sniping. I couldnt stand the odds moving when I was matched betting and I really wanted an income that I knew at these times I sat down to do it and then I was done for the day. Matched Betting felt like it consumed my day and I really didnt make much money from it (I actually lost if you read my ACCA’s post!) We are still testing the sniping so I will keep you updated!

      Like

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