Money saving forum matched betting scam

Develop a slick and easy to use online betting interface and engage in heavy marketing campaigns. Run promotions and incentives to entice customers in. Number 3 is where matched betting comes in. Betting sites know the value a new customer can bring, and are willing to pay for the privilege. The Maths One really simple way of explaining how it works is using the heads and tails analogy.

The above scenario is of course very simplistic, but this logic can be applied to almost any sports bet. By using Betfair Exchange, you can place and take bets on any market, allowing you to replicate the above on almost any sports market. Given the number of online betting sites, and the constant competition between them to acquire and keep their customers loyal, there are a huge number of offers available that can be very lucrative.

How I'm using matched betting to achieve FI I first discovered matched betting in my final year at university - 2. I would mostly do it in-between lectures and for a few hours each evening. I've been doing it on and off ever since, flexing the amount of time I spend dependant on work and personal life commitments. Pretty easy. The real benefit matched betting has given me is the ability to save my entire salary.

I'm currently 24 and aim to continue doing this for as long as possible, hopefully springboarding me into a very early retirement. Tools that can help Matched Betting sounds incredibly daunting - in reality it's incredibly simple, but the below tools and websites can help make it far clearer.

Money Saving Expert - you probably don't trust me, a random internet stranger that this actually works, but Martin Lewis, a VERY trustworthy guy has it on his website and there's an active forum there discussing it. This is where I first discovered it 2. There is an in-depth guide for every single offer, a calendar that is updated daily with all the latest offers, a ton of tools that scan the internet finding the closest matches between bookies and the exchange.

Mods - I can remove this if necessary Is Matched Betting for me? They may contain a disclaimer such as "This is a solicitation for the order of goods or services, or both, and not a bill, invoice, or statement of account due. You are under no obligation to make any payments on account of this offer unless you accept this offer.

The correspondence is formatted like an invoice, often with a sequential identification number, date, personalized description of the information to be published, payment details and total amount due which includes a token discount if paid within a specified time period.

The "registration" actually offers nothing beyond a vague claim that the entity sending the solicitation will submit the victim's domain name to existing search engines for an inflated fee. It does not obligate the vendor to publish a directory, renew the underlying domain in any ICANN-based registry or deliver any tangible product.

As anyone can publish a yellow page directory, the promoted book is not the incumbent local exchange carrier 's local printed directory but a rival, which may have limited distribution if it appears at all. Public records listing legal owners of new registered trademarks are also mined as a source of addresses for fraudulent directory solicitations. The intent is that a small fractional percentage of businesses either mistake the solicitations for invoices paying them or mistake them for a request for corrections and updates to an existing listing a tactic to obtain a businessperson's signature on the document, which serves as a pretext to bill the victim.

Updating is free of charge. Only sign if you want to place an insertion. The scam requires assistants to manage the purchases and money exchanges while the pitchman maintains a high energy level. Passersby are enticed to gather and listen to a pitchman standing near a mass of appealing products.

The trickster entices by referring to the high-end products, but claims to be following rules that he must start with smaller items. The small items are described, and 'sold' for a token dollar amount — with as many audience participants as are interested each receiving an item.

The pitchman makes an emotional appeal such as saying "Raise your hand if you're happy with your purchase", and when hands are raised, directs his associates to return everyone's money they keep the product. This exchange is repeated with items of increasing value to establish the expectation of a pattern.

Eventually, the pattern terminates by ending the 'auction' without reaching the high-value items, and stopping midway through a phase where the trickster retains the collected money from that round of purchases. Marks feel vaguely dissatisfied, but they have goods in their possession and the uplifting feeling of having demonstrated their own happiness several times.

The marks do not realize that the total value of goods received is significantly less than the price paid in the final round. The jam auction has its roots in carny culture. Money exchange[ edit ] This scam occurs when exchanging foreign currency. If a large amount of cash is exchanged the victim will be told to hide the money away quickly before counting it "You can't trust the locals".

A substantial amount will be missing. In some cases, insisting on counting to make sure the money is all there is the basis for a clever scam. The scam is sometimes called the Santo Domingo Sting, after an incident that took place there, reported by a journalist, Joe Harkins, who reported his involvement, in the early s. It also requires a greedy tourist who wants to beat the official rate by dealing with illegal money changers.

A person posing as an illegal money changer will approach the tourist with an offer to buy dollars at an illegal rate that may be even higher than the street rate. The changer offers to buy only large US currency, typically, a dollar bill. I'll wait while you make sure. Count it out loud so there is no mistake. He grabs his money back, pushes the mark's bill back into his hands and takes back the pesos.

The scam has been completed. Mystery shopping[ edit ] This trick, a form of advance-fee scam , is perpetrated on people who wish to be mystery shoppers. A person is sent a money order , often from Western Union , [76] or a check for a larger sum than a mystery purchase he is required to make, with a request to deposit it into his bank account , use a portion for a mystery purchase and fee, and wire the remainder through a wire transfer company such as Western Union or MoneyGram; the money is to be wired immediately as response time is being evaluated.

The cheque is fraudulent, and is returned unpaid by the victim's bank, after the money has been wired. Some fraudulent cheques can be identified by a financial professional. In any case, it is unlikely that any bona-fide provider would allocate a high-value assignment to a new shopper or proactively recruit new ones for that purpose, preferring instead to work with a pool of existing pre-vetted experienced shoppers. Pay up or be arrested scam[ edit ] This scam is perpetrated through the phone where the caller threatens the victim with a fictitious arrest warrant.

To make this threat seem real, the caller ID identifies the caller as that of local law enforcement. Victims are told they must pay a fine to avoid arrest. Fines are in the hundreds, sometimes thousands, of dollars.

The payment is requested through Western Union , Green Dot prepaid card , or similar form of untraceable currency exchange. Pigeon drop[ edit ] The pigeon drop also called the Jamaican Switch , which is depicted early in the film The Sting , involves the mark or pigeon assisting an elderly, weak or infirm stranger to keep a large sum of money safe for him. The container is first switched for an identical one which contains no money, and a situation is engineered giving the mark the opportunity to escape, with the money, from a perceived threat e.

If the mark does so, he is fleeing from his own money, which the con artist will have kept or handed off to an accomplice. Predatory journals[ edit ] A number of predatory journals target academics to solicit manuscripts for publication. The journals charge high publication fees but do not perform the functions of legitimate academic journals—editorial oversight and peer review—they simply publish the work for cash.

In this case, the mark's need for publications is the incentive for them to pay the fees. In some cases, predatory journals will use fictional editorial boards or use respected academics' names without permission to lend a veneer of credibility to the journal. A curated database of predatory journals can be found at "Scholarly Open Access". Psychic surgery[ edit ] Psychic surgery is a con game in which the trickster uses sleight of hand to apparently remove malignant growths from the mark's body.

A common form of medical fraud in underdeveloped countries , it imperils victims who may fail to seek competent medical attention. The movie Man on the Moon depicts comedian Andy Kaufman undergoing psychic surgery. Public transport ticket control scam[ edit ] In this scam, the artists pose as ticket control staff on public transport connections. They tend to look for tourists as easy marks, and therefore target train connections from the airport. They will ask to see the passenger's tickets, and once they have found a suitable mark, will claim that something is wrong with the ticket they hold.

They will then claim that an instant payment is required to avoid further legal troubles. In some cases, this scam is even committed by actual public transport staff seeking to rip off tourists. Classically this was promising to make it rain, [87] but more modern examples include getting someone's app 'featured' on an app store , obtaining pass marks in a university entrance exam, obtaining a job, or a politician implying that they can use their influence to get a contract awarded to the mark.

The trickster has no actual influence on the outcome, but if the favourable outcome happens anyway they will then claim credit. If the event does not happen of course then the trickster may be able to claim that they need more money until it finally does. See also: Reloading scam A recovery room scam is a form of advance-fee fraud where the scammer sometimes posing as a law enforcement officer or attorney calls investors who have been sold worthless shares for example in a boiler-room scam , and offers to buy them, to allow the investors to recover their investments.

The recovery scam has the victim's number only because it is operated by an accomplice of the original scammer, using a "sucker list" from the earlier fraud. The rent payment clears the bank, the new tenants arrive with a truckload of worldly possessions on moving day to find that the same unit has been rented to multiple other new tenants and that the supposed "landlord" is not the owner of the property and is nowhere to be found.

In a typical variation scammers will target, say, a jeweler, and offer to buy some substantial amount of his wares at a large markup provided he perform some type of under-the-table cash deal, originally exchanging Swiss francs for euros. This exchange goes through flawlessly, at considerable profit for the mark. Some time later the scammers approach the mark with a similar proposition, but for a larger amount of money and thus a larger return for the mark.

His confidence and greed inspired by the previous deal, the merchant agrees—only to have his money and goods taken, by sleight-of-hand or violence, at the point of exchange. The same term is used to describe a crime where a vendor especially a drug dealer is killed to avoid paying for goods.

Often, the call will be misrepresented as a "survey" or a "prize" award. When the business objects, the workers are threatened with lawsuits or harassed by bogus collection agencies. An automated message says "that someone has ordered a free medical alert system for you, and this call is to confirm shipping instructions" before the call is transferred to a live operator who requests the elderly patient's credit card and identity card numbers.

The device is not free; there is a high monthly charge for "monitoring". The family did not buy or order it, nor did a practitioner; the call is fraudulent.

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There are a couple of reasons for this. First of all, bookies have gotten wise to matched betting as it has grown in popularity over the years. I have lost all of my major accounts apart from one since I started. Take a look at Bet for example. Still good, but obviously not as profitable. Even at major betting events, you will no longer see bookmakers throwing as many free bets at you.

All is not lost… You used to be able to find the latest free bet offers and the new bookmakers on the Matched Betting forums over at Money Saving Expert. It was a great place for matched bettors to share tips and ideas and turn for help. However, thanks to the pandemic, MSE closed down several of their forums and unfortunately, Matched Betting was one of the casualties. But the good news is, there are companies out there that can let you know when free bets are available and when a new bookmaker enters the market.

Plus, they have forums so you can speak to others if you need a bit of help. They will lead you the whole way and give you a step-by-step guide. But the paid membership is where you can make the serious money. You can sign up on a monthly basis or pay for the whole year for a discount. How long will matched betting last? There are no signs that matched betting is going anywhere. The online bookie business is worth a lot of money and is very competitive.

As long as there are bookmakers competing with each other, there will always be free bets available. On a personal level, how long you can matched bet for is a little harder to tell. This may mean that you keep receiving free bets for longer. How does matched betting work? But if not, here is a brief summary. Bookies are keen to attract new customers or to encourage current customers to bet more. One of their favourite ways to do this is by offering free bets.

But usually, to earn this free bet, you need to make another bet beforehand. Still with me?