1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

A $2000+ a Month method has hit a major roadblock!!

Discussion in 'Making Money' started by Dillusion, Sep 30, 2009.

  1. Dillusion

    Dillusion BANNED BANNED

    Joined:
    Apr 17, 2009
    Messages:
    221
    Likes Received:
    66
    Ok, I have a arbitrage method that can make me $2000+ a month without risk loses, although I arrived at a major roadblock, maybe anyone here can offer some insight.

    The method consists of using betfair counter offers and traditional sports betting offers, in a nutshell the method consists in charging money into the accounts and make bets that will profit equally on both betfair and the standard sports betting site.

    Since this system ALWAYS breaks even, how do we make our profit?

    Racking up countless bonuses from all the major sports betting sites, since the amount we put on as liability will always be equal to the amount we earn from either the betfair bet or the other sites bet, we will always be cycling the initial deposit between all the accounts without any loss, obviously racking up all the bonuses in the process.

    Now, this system works and has been personally tested by myself, my major block is the following, since more than 95% of all this sports betting houses will require you to submit (personal ID plus address verification and a bank or credit card statement confirming the source of the deposit), it appears to me that a single person can only use this method one time, since the second time you would either have to fake the information (which is a very dangerous crime) or being constantly asking for anyone to verify the account (which once you go knocking on all your friends and family members doors, you also go back to square one)

    Is there any arbitrage experts here that have a way around this?

    Any help or suggestions will be highly appreciate it!

    Thanks

    Dillusion
     
  2. Enduro

    Enduro BANNED BANNED

    Joined:
    Apr 7, 2009
    Messages:
    26
    Likes Received:
    8
    bonus whoring works only one time.
     
  3. SpazzyMcSpazz

    SpazzyMcSpazz Regular Member

    Joined:
    Apr 20, 2009
    Messages:
    261
    Likes Received:
    76
    Don't do it. You'll get fucked.
     
  4. kakizito

    kakizito Regular Member

    Joined:
    Jun 17, 2009
    Messages:
    205
    Likes Received:
    36
    No you wont. Don't know why people say something when they don't know what they are saying.
    I have done that in several sports betting sites, and like enduro said, it's bonus whoring, this means your profit will be the bonus given by sports betting sites.
    It's completely legal, has you are placing bets in two diferent betting sites, but if you wanna continuing doing it, you must loose your money in the common betting site, this is why, example: you open an account with 20$ in determined betting site which gives you a 100% first deposit bonus - 20$ from your pocket + 20$ from bonus = 40$ - then you look for an event with odds above 3.0 (i would sugest this or higher ods) and you back that event.
    Like this:
    (Manchester 1.5) (draw 2.5) (Bolton 3.0) Back Bolton with your 40$ at odd
    3.0 in the common sports betting site. Now go to betfair, your MAIN site for this method, has it allows to lay an event (let's say you can play the role of a normal betting site) and bet against that event.
    So in betfair you will bet against Bolton at an odd of 3.0.

    This means that if Bolton wins you will win 40$ at 3.0 odd = 120$ in the common betting site. And will loose 80$ in betfair from the lay bet, so 120$ - 80$ = 40$, those 40$ - 20$ (from your initial deposit) = 20$ (the 100% bonus given)

    If Bolton looses, you loose your bet in common betting site, where you have backed Bolton, and you will win the 40$ in Betfair where you have bet against Bolton win.

    Now back to beggining, why ods above 3.0? simple because this way means that determined event will be more difficult to hapen so hopefully you can loose that bet in the common betting house and pass the money to betfair, and why?
    Because loosing your money in the common betting house will make them give you reload bonus so you can repeat the process.

    You may be asking who looses in this process... well none, because betfair money you have won belongs to other person just like you and not to the betting site, has betfair only wins money from the fees of bets.

    Hope this has helped.
     
    • Thanks Thanks x 1
    Last edited: Sep 30, 2009
  5. SpazzyMcSpazz

    SpazzyMcSpazz Regular Member

    Joined:
    Apr 20, 2009
    Messages:
    261
    Likes Received:
    76
    sorry, I meant cheating bookmakers for multiple bonuses.

    and if you did that you wouldn't even need to lay it on betfair, you might as well bet with it since it's free.

    also: it's usually against most bookmaker's terms, just like arbitrage, they can never catch you of course, but still :)
     
    Last edited: Sep 30, 2009
  6. kakizito

    kakizito Regular Member

    Joined:
    Jun 17, 2009
    Messages:
    205
    Likes Received:
    36
    This way you will never cheat the bookers. If you bet the bonus without laying it in betfair it would be pure gambling, you would probably loose the money in long term, laying the bet and wining just the bonus it's a safe way to win.
     
  7. Dillusion

    Dillusion BANNED BANNED

    Joined:
    Apr 17, 2009
    Messages:
    221
    Likes Received:
    66
    Yes, but the point remains, how can one extract the money from the betting accounts if one needs to submit a personal ID + adress verification + bank statement?
     
  8. SpazzyMcSpazz

    SpazzyMcSpazz Regular Member

    Joined:
    Apr 20, 2009
    Messages:
    261
    Likes Received:
    76
    I guess you've got a point, but in the long run losing money is rather slow. You're only losing those few percents the bookmakers are making by decreasing the odds.
     
  9. kakizito

    kakizito Regular Member

    Joined:
    Jun 17, 2009
    Messages:
    205
    Likes Received:
    36
    Has i said in the other post, if you don't look to loose the money in the common betting site and win it in the betfair, you will never get bonus again from those sites where you withdraw. If you want to this long term you have to do it this way, has you will continuning get bonus from common betting sites. Otherwise, i don't see a way to cheat betting houses, has probably you will get your accounts blocked if you don't have id verifications.
     
  10. CMS2009

    CMS2009 BANNED BANNED Premium Member

    Joined:
    Feb 21, 2009
    Messages:
    240
    Likes Received:
    167
    you can't, it's a one time gig, no way around that. Usual tactics of using a different card/email/address dont work, as its a real person who collects your fax at the other end and realise its the same person
     
  11. kypter05

    kypter05 Junior Member

    Joined:
    Jun 8, 2009
    Messages:
    116
    Likes Received:
    19
    Occupation:
    Being Here
    Location:
    Ready to have the noise brought On
    you will need to verify the ac with id at each bookmaker you sign up at to be able to withdraw any money so like you said unless you can find and trust other people to use their id required then its can be only a once off method - but any id proof with have to match the name and details of which you used to sign up with

    i dont know any other way around it as they made it strict to comply with government legislations incase they audit or request records from the bookmarkers if suspect bettors are money laundering by organised crime gangs etc.
     
    Last edited: Oct 2, 2009