Matched Betting Guide
What is Matched Betting?
Matched betting is a simple technique that can be used to make a guaranteed profit by turning free bet offers from bookmakers into cash. By placing an additional bet with an exchange, like Smarkets or Betfair, you can cover all outcomes and ensure you make a profit from each bookmaker offer.
Gambling in the UK is big business and highly competitive so in order to attract customers to their products, bookmakers offer free bet offers to new customers as well as regular ongoing bonus/free bet offers to existing customers to keep them betting with their product. For Matched Bettors these offers provide an opportunity to top up their cash pot month on month.
For example, Coral offers new customers £20 in free bets when they place their first bet of £5, we can use matched betting to make a guaranteed profit of around £15.00
How Does Matched Betting Work?
Much like football, matched betting is a game of two halves. Sign-up offers from bookmakers will normally require you to spend some money in order to get a reward (bet £X get £Y) in the form of a free bet or bonus e.g. bet £5 get £20 free bet. So for each offer there are two bets to placed to complete an offer:
A ‘Qualifying Bet’`: The bet you are required to place in order to get a free bet or bonus
A ‘Free Bet’: The reward for placing your initial qualifying bet
Normally you would simply take a punt on both bets, which would not guarantee a profit and normally produces a loss. Using a matched betting strategy we can take the gamble out of the equation and guarentee a profit. We do this by placing an additional bet, for our qualifying bet and free bets, to cover all outcomes (win/lose/draw):
A BACK bet (to win) with a bookmaker (e.g. Coral).
A LAY bet (to lose) with an exchange (e.g Betfair).
Using the Coral offer, bet £5 get £20 in free bets, as an example we can see how the process works.
Placing Your Qualifying Bet:
In order to get our free bets, we first need to place a ‘qulaifying bet’. For the Coral offer we need to place a bet of £5 to qualify for the offer.
For the purposes of this example lets say we decide to bet on a football game between England and Germany.
We first place a £5 BACK bet with Coral on England to win. Now we also place a £5 LAY bet on a betting exchange (e.g. Betfair) on England to lose.
So now we have qualified for the free bets and, because we have also placed the lay bet at the exchange, we have covered all outcomes so we dont make a loss.
Placing Your Free Bet:
Once the qualifying bet has been placed we can now repeat the process, using the free matched betting calculator, for the £20 free bet.
As a rule we should be able to convert 75 – 80% of the free bet into cash. So for the Coral offer we have made £15 and can move on to another bookmaker.
This site lists over £1,000 in free bet offers for new customers. And there is even more to be made from the bookmakers reload offers for existing customers.
How Much Money Can I Make ?
How much you can make from matched betting is really dependant on how much time you can dedicated to it. If you dont currently have any bookmaker accounts you can make around £1,000 from just doing the new customer sign-up offers.
If you already have some bookmaker accounts then you can complete the sign-up offers for the bookmakers you dont currently have and move onto the reload offers that bookmakers offer to existing customers.
If you can spend 20-30 minutes per day doing a bit of matched betting you can probably make up to £500 per month. The more time you put in the more money you can make!!