The Accountant

When it comes to a lot of the customer stories posted on the Betfair Hub, many of them have a similar theme. They’re born into families with strong racing ties or have grown up in the industry. Or, on the other hand, have re-purposed their quantitative genius into the wagering space to create automated models.

Bobby is different. He fits into none of these groups.

Residing in Melbourne’s humble western suburbs, Bobby didn’t discover the wagering industry until he passed the legal betting age and even then, he couldn’t be further from what would be considered a professional.

Early Habits

Like many others, Bobby’s early wagering experiences came in the form of a small bet on the AFL on Friday Night. Or, a trivial bet on a marquee racing meeting during the Spring Carnival.

‘I was the mug punter that used to just bet on the Melbourne Cup. Some multis, mostly AFL because it’s what I enjoyed.’

‘None of my mates or friends really bet on much. I wouldn’t go to the local venue to bet. I just bet for fun. I never did it to make money, just entertainment.

These habits, often synonymous with wagering infancy continued for some time. However, after completing an accounting degree, Bobby started to question his habits. Some online research and a discussion with a friend inevitably lead him to something that would change his life. A concept called matched betting.

“I guess it was the accountant in me. I’m always looking to save a dollar or two where possible and I didn’t see much value in continuing down that recreational betting path.”

Introduction to Matched Betting

Bobby was first introduced to Matched Betting when a friend presented him with a two-page document. On it, was how to take advantage of sign up bonuses from all the Australian Bookmakers.

It was a relatively simple guide. How to turn them over. Which bookies offered the biggest bonuses. As well as which ones required more work to turn them into real money. It wasn’t heaps, but it was enough to win Bobby over.

“The document didn’t really seem legitimate. I was a bit skeptical at the time, but took the chance given the endorsement from my friend, that one document changed everything.”

From there it didn’t take long for Bobby to get fixated on matched betting. While most would take their time before jumping in, he was comfortable enough with the math and understood that there was an edge to be taken advantage of over time.

‘I knew it was legit straight way. After the first bet I placed, I was converted.’

‘Once you do the calculation, once you realize you can potentially get a high percentage risk free and it’s relatively simple, you figure out pretty quickly that it’s profitable.’

Calling on his accountant tendencies, Bobby sought for ways to help the process of matched betting become easier for him. He built his own calculator for turning over bonus bets so it could tell him exactly the numbers he needed to input. The hurdle though, was learning the ‘ins and outs’ of the Betfair Exchange.

‘Betting to me had always been the traditional battle of punter versus bookmaker or TAB, in the sense of you could only back something. The concept of Laying was completely new to me. It took a bit of time but once you get your head around it, it’s great.’

Not being satisfied

In next to no time, Bobby had gone from what he had called a “mug” to someone that was making a sizeable income matched betting. Maybe it was a product of his somewhat bubbly nature, or just how instant and successful this new strategy had proven itself to be. Bobby wanted to tell everybody he could about matched betting. He believed that if he was capable of doing it, anyone was.

‘I tried to tell every soul I knew. I spoke about it too much really. Just because I had confidence in the process.’

‘I mean, I understand why people don’t want to do it. The time factor is big with how much you can dedicate to it. Laziness as well I guess.’
For Bobby, what it comes down to is simple.

‘At the end of the day, there’s potentially risk free money available. Who doesn’t want that?’

‘It might be repetitive but if you look at your profit, that’s the factor. When you’re making money, it’s enjoyable. Its tedious for sure but it’s always worth it.’

Every Saturday for a full year, Bobby was matched betting with any available promos he could find. With Saturday’s comes more races, so more opportunities.

‘Depending on what was available I could be betting every 10 minutes, but I don’t need to watch the race. It’s a simple process. Once my bets on, my focus shifts onto the next race.’

As time progressed, Bobby began to look for other opportunities in the wagering space. He was happy with his profits, but he was by no means satisfied. Due to this, he decided to broaden his horizons and wanted to learn how trade on the Betfair Exchange.

‘Sometimes with the bookies, you’re limited to what they give you. So what else could I do? That’s where my trading journey started.’

Learning to Trade

This venture was very different. Unlike Matched Betting, there were a number of bumps in the road when starting out. Bobby dabbled in a number of free trials to a series of third party tools before eventually settling on BetAngel.

He also completed an online trading course and because of this, thought he was equipped to trial a new betting strategy.

‘I just wanted to go for it straight away. I wasn’t following any of the things I had learned or any of the processes I had in place. I felt like my training wheels were on with matched betting and now they have been taken off.’

Through this, Bobby is committed to the long-term. Grinding out each race and not being greedy in the process.

‘It’s a slow burn but could be life changing. I know that if I can continue to work on the process and protect my risk that’s when the potential profits will come, let the profits, that’s the goal for me – whether it be racing or greyhounds, I’m not too sure yet.’

‘There’s no market that’s the same but they act in similar ways but you learn to recognize patterns.’

The ongoing Journey

Today, Bobby dedicates his time to both matched betting and trading. However, he has clear goals and strategies for the year ahead. He also believes that the progression from matched betting to trading is quite clear. And the skills picked up in the former will undoubtedly help you to become a better trader.

For anyone wanting to begin their trading journey, or to make the transition from their strategy, Bobby urges others to take it slow.

‘Trading is trial and error. You’ve got to get used to the third-party app you are using, how the markets work, the indicators, lot of studying and watch the market or what other people are doing.’

‘The exchange is complicated but once you learn it and get across it, it’s an amazing platform where you can do so many strategies and do what you want from it. Believe in the process. Work to refine and improve the process, protect your risk and you’ll put yourself in a position to potentially becoming profitable

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