Keeping track of your progress is important. Not only will you know what offers you’ve completed, and received free bets from, but you’ll be able to understand what you’ve made so far and keep you motivated towards your goal of (at least) £1000 pure profit.
As you progress more and more into matched betting, you’ll develop your own way of keeping a record but for now, I’d just record, in a spreadsheet, just the basics. I use three tabs of a spreadsheet:
- Profit for each offer. Something like the below:
|Date||Bookie||Qualifying Bet||Offer||Free Bet||Overall profit|
|01/09/14||Betfred||Won £10 at Betfred, Lost £10.25 at Betfair||£30 free bet||Won £22 at Betfair, Lost £0 at Betfred||£21.75|
Overall profit being the free bet profit minus the cost of the qualifying bet.
2) Balance at each bookmaker:
|Betfair||£ 679.43||£ 0.00||test123||letmein||www.betfair.com||Exchange only|
|Betfred||£ 43.12||£ 20.00||anon123||opensesame||None|
Goes without saying that you should password protect any files in which you’re storing passwords…
3) Any pending offers, you’ve qualified for and are awaiting crediting your account. This is very important – miss out on a £50 free bet due to it expiring and you’ll be annoyed that you’ve let free money slip through your grasp, so keep a list of them on a separate tab/page, and include headings such as Bookie, Free Bet amount, Expiration Date, Completed (Y/N). Maybe colour code so you can see at a glance, what is outstanding.
As I’ve mentioned, you’ll no doubt make changes to the above and keep either more or less detailed records. One point I would make is that time is literally money – spend as much time doing the offers as you can, whilst keeping the records which you feel sufficient.