Business of Betting - Paul King / OddsMonkey

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hagrinBPR Review Date: 2024-04-11 18:26:00
Rating: 3.75

Notes:
Paul King founder of OddsMonkey is "matched betting" service - general idea you get a bonus and the service helps you lay off the other side of the bonus at some other exchange to try and lock in a profit. Been around since 2011. Half a million signups in that time.

Learned about matched betting from Martin Lewis' Money Saving Expert website (wow that's something I haven't heard of in a long, long time).

5:00 - Interesting, states easier to bonus churn in the past, more difficult now so have had to make new tools for betting after bonus churning.

8:45 - Very interesting, the host talks about how he went through the sign up process and it's actually not that simple. (I would never need a service like this, but I think I'm going to run through the site just to see exactly what the setup process is like).

13:25 - Current UK signup bonuses total to about 800 pounds now. (Bet365 was 200 pounds alone a decade ago). Types of promotions have changed - some horse racing stuff now, some "up 2 goals" stuff. "If there's a promotion to attract customers, there's likely a way to extract value."

15:55 - Starting to setup and get traction in the US. Jason mentions Smarkets works with OddsMonkey.

18:55 - "Narbs" - nearly arbs.

Ends with some industry talk and a debate on the ethics of banning winners and then the ethics of a service like OddsMonkey.