How It Works
Matched Betting is a system that uses free bets and bonuses that are offered by bookmakers as part of their marketing strategies. The matched betting concept is pretty simple. We cover all the outcomes of a particular game so that, whatever happens in the game, we end up with a profit.
So, remember that this is not gambling: it doesn’t matter what happens in the game your profit is completely guaranteed!
Before we can start, we will need to make a deposit into the bookmaker account. We always suggest you to use a Debit Card for the first deposits.
To make a profit regardless of the outcome of the match, we would need to place two types of bets:
This is the bet that you place with a bookmaker (for instance Coral). Let’s say we are placing a bet on Arsenal to WIN a football match. This is a BACK bet because you will win if Arsenal will win.
We then go to a betting exchange like Betfair. Here we have the opportunity to place a bet on Arsenal NOT to win a football match. This bet is called a LAY bet and the reason is that you are betting AGAINST Arsenal winning. This type of bet will also cover the draw as with this result Arsenal has effectively NOT won the game.
So what next?
Those BACK and LAY bet will completely cancel each other. If Arsenal win, we will lose the lay bet on Betfair but we will win the back bet on Coral. If Arsenal lose or draw, we will lose the back bet on Coral but we will win the lay bet on Betfair. Easy, right? So it doesn’t matter what happens, we don’t win or lose any cash.
And this is completely fine as the aim of this first step is not to make money. It is to qualify you to get the free bet from the Bookmaker. The profit we make from matched betting will always come from the free bet. Also, don’t worry as there are ALWAYS new free bets available even if you already have all bookies accounts.
The Free Bet
We now move to step two and take the free bet from Coral. We are going to use this free bet to place another bet. We basically repeat the same process again by placing a back bet and a lay bet. Now however we are using the free bet instead of your own cash, which means you are guaranteeing yourself a profit from the bets.
We created a calculator that will tell you exactly how much money you have to bet and also a list of events that you can use to find what are the best games to bet on. In reality, it doesn’t matter on what event you are betting on. The most important part is what are the odds but we will explain this in more details later.
Let’s Try This Concept With Some Real Numbers:
A Bookmaker is offering £20 free bet to new customer. In order to claim this free bet, you would have to place a £5 qualifying bet.
So we go ahead and create my account with the Bookmaker and deposit £5 by using my debit card (don’t use Skrill or PayPal).
We also create an account with a betting exchange like Betfair (if you have one already you can use that one). We then deposit £5 into that account.
We now need to place the first bet. Those are the three steps you should follow to place any bet;
1) Find The Bet
When we are searching for a bet we need to find a ‘Back’ bet odds on the Bookmaker to be as close as possible to the ‘Lay’ odds on Betfair. So if Arsenal are at 3.0 to back on Coral, we need something that is as close as possible on Betfair (for instance 3.10).
We have a ‘best selection’ page for our Premium subscribers where you will find a list of selected matches every week. Our experts have chosen those for you, so you don’t have to waste your time searching around and you will make more money, faster.
From the terms and condition of the free bet we also see that the first bet has to be of odds of 1.5 or higher.
Important note: if you are new to matched betting, just stick to football as it will be easier to find the necessary liquidity and also odds between the bookmaker and the betting exchange will be pretty similar.
2) Calculate The Bet
As mentioned, we have a special calculator that we use to find out our lay bets. The Calculator is available to our registered users and it is straightforward to use. All you need to do is entering the Bookmaker Stake (in our example is £5) and the back and lay odds. The Calculator will tell you what would need to be my lay stake in order to have a near £0 return from the overall bets.
The liability is the amount of money you need to have in your Betfair account in order to place the Lay Bet. Usually, the higher the odds you decide to go for, the higher would be the liability.
Generally, on a qualifying bet, you would actually make a minimal loss of few pence. This is not a problem as with the free bet we will recover all that money and make a profit.
3) Place The Bet.
Once we have found the right event on both sites we just go ahead and place the bet. In our example, we will place a £5 back bet with the bookmaker and a £5.38 lay bet on Betfair (this is what we found by using the Calculator).
Always ensure your bets are correctly sent and confirmed by both the betting sites.
As soon as you have placed the bet, the bookmaker will credit you a £20 free bet. As soon as they so, we would need to find another match. We decide to go for Man City v Everton. We will back Everton who are at odds of 4 on Coral and odds on 4 on Betfair.
This time we use our second Calculator. The bookmaker stake is now £20 and the bookie odds are 4.0 while the exchange odds are 4.0. This means we will have a profit of around £17 for this bet.
All you need to do at this point is to click on the team, enter the stake and select from the bet slip the free bet. We have to place the bet on Coral and then we need to place the Betfair lay bet. The lay stake, in this case, is £15.19 (the Calculator will tell us that). So we enter this in the stake on Betfair and send the bet.
Those are the most critical points to do an offer.
It is important to always read the terms and conditions of the offer before going ahead. Make sure you deposit via Debit Card if this is your first deposit (do not use PayPal or Skrill).
Now you can visit our ‘Offers’ page and start working your way down the huge list! Happy Earnings!