Matched betting is a way of doing risk-free betting. Most people don’t believe that there is a way of doing risk-free betting but it’s 100% true.
The way it works is by taking advantage of the bookie’s promotions. Most of the promotions will have qualifying terms that you need to do to unlock the free bet from the bookie.
These qualifying bets will be things like place a £10 bet on a football match and you will be given a £10 free bet.
With matched betting, you will sign up to the bookie, place your qualifying bet, lay the off on another bookie which means you effectively cancel out your qualifying bet, get your free bet and make a profit from your free bet.
- Sign up to bookie
- Place your qualifying bet
- Lay the qualifying bet on a betting exchange
- Place your free bet
- Make easy/risk-free/tax-free money
There are many types of promotion qualifying bets, the easiest ones to do are the new customer sign up offers.
These normally sign up to the bookie, and place a bet of £10 at odds of more than 2.00 and you’ll be given a free bet.
But this bet will cost you £10 to do and you have to gamble this £10 at odds of 2.00 in order to qualifying, you could win this bet and make £20 plus a £10 free bet or you could all your qualifying bet.
So, how do we make this risk free? How do we ensure that we don’t lose any money when qualifying for that free bet?
We need to place a lay bet along with your first qualifying bet.
To understand the basics of matched betting the most important thing you will do to do is understand the lay bet.
There are two types of bets
- Back bet
- Lay bet
A back bet is where you’re backing something to happen. In the example of a coin toss you could place a bet on the coin landing on heads, you’ve just backed the coin on heads.
A lay bet is the opposite of a back bet where you’re saying something won’t happen. In the example of a coin toss if I lay heads I’m saying that it won’t be heads.
If I was to place a £10 bet on heads and then lay heads at £10 I will win if it lands on either heads or tails. If it lands on heads my back bet will win, if it lands on tails my lay bet will win.
With the coin toss it’s a very simple example and there are only 2 results head or tails, so what happens in a sporting event such as a football match where the result could be a win, lose or draw?
As a lay back you’re saying an event won’t happen you’ll still win in the event of a draw.
Let’s use the example of England vs Wales.
I can place a back bet for England to win. Now if I place a lay bet for England not to win. My back bet will win if England win and my lay bet will win if Wales win or if it’s a draw, I’m covered for all scenarios.
In the example of a new customer sign up offer you place your £10 bet at the bookie they lay this on the betting exchange such as Betfair and whatever the result you will either win all your money back at the bookie or at the exchange. You’re not losing money you’re just moving it from one account to the other…risk free.
But because you’ve placed that original £10 qualifying bet at the bookie they will give you a £10 free bet. You’ve just made yourself £10!
The problem is this £10 free bet is not your money yet, you can not withdraw this from your account, they’ve just given you a free bet to place with. You need to place a bet with this money in order to be able to withdraw it.
With your free bet in your account, you need to find a match to bet on, then place your £10 free bet on this game.
The way we make money off this is the same as above, by placing a lay bet against this £10 free bet. But we don’t need to use as big of stake on the free bet because you’re not using your own money.
Therefore on whatever the result of your free bet you should make about 80% of the free bet back in pure profit.
From a £10 new customer sign up offer you’ve just made a risk free £8.
This might not sound like a lot but if you do 10 of these a day the amount slowly creeps up.
This is a very basic example of matched betting and assumes that the odds on both the bookie and the lay exchange are the same. In most cases the odds are going to be different and we will need to use a lay calculator to work out how much we need to lay to make the bet risk free.
In an another tutorial we’ll go through a real world example.
Where To Get Started?
If you’re looking to get started in matched betting I suggest you look at using the site Profit Accumlator. The reason why it’s useful to use a site like this is because they do all the hard work for you, they find all the offers from 100s of bookies and filter out the ones that aren’t worth doing.
They write very easy to follow instructions on how you can achieve the most money from the offer.
There is a very active forum that using daily will help you make even money from things like price odd boosts.
There is a free trial that will make you around £14, which easily covers your first month of membership fees.
Try it out and see what you think.