Matched betting is a technique that allows you make money from the free bets and deals offered by online bookmakers. Rather than relying on luck, you cover all potential outcomes of an event by placing two bets so that you win no matter what happens. Matched betting formulas or software calculate how much you need to stake on these bets in order to lock in a profit.
How does matched betting work?
Matched betting works by using a ‘back and lay betting’ technique to turn free betting credit into real money.
Lots of online bookmakers give away ‘free bets’ as part of a welcome offer, to encourage users to sign up to their site. There are also free bet deals offered to existing customers, usually on a ‘bet £X get £X basis’.
With standard betting, there’s no guarantee that any of your bets will win.
With matched betting, you eliminate the risk associated with every bet for a particular outcome (back bet) by placing an equivalent bet against the same outcome (lay bet), so that you win no matter what the result. This back and lay betting technique allows you to make a profit on free bets. Typically, you will end up with approximately 80% of the free bet amount, so a £30 free bet turns into around £24 profit.
As with most things, I recommend doing as much research as possible, here are some helpful links to direct info or sites with tutorials etc.
Oddsmonkey has EVERYTHING you need to become a successful Matched bettor, tutorials, guides, and a helpful forum. But most importantly it has great Matched Betting software for every offer and reload to suit newbies and pros alike. try for free and get premium for just £1 https://www.oddsmonkey.com/raflp.aspx?raf=VAgVtV
One of the 3 exchanges I use, nice and simple to work with and fast withdrawals, lots of markets and liquidity. https://www.betfair.com/exchange/plus/
Using multiple exchanges ( once you have a large enough bankroll ) allows you to make sure your always getting the best price, Matchbook is really good for laying accumulators and 1% commission. https://www.matchbook.com/
Skrill is an online payment wallet for moving money quickly a bit like Paypal, but unlike Paypal they don't mind you "gambling". Just watch the fees and get verified ASAP so there's no limits.
Bookies will send A LOT of texts and offers by SMS which can become annoying to receive on your personal phone. A cheap smartphone can be purchased for around £40 or less and/or a sim card for around £1 to pop in an old phone.
Again bookies send out so many emails you can get swamped or miss important offers hidden in personal emails, an email just for matched betting is a must.
Having a completely separate bank with a UK DEBIT card means you can keep your personal finances and matched betting profits apart and will stop your bank manager thinking you have a gambling problem!!!
The industry has changed a lot in recent years with much stricter GDPR & anti money laundering laws bought in. It is not unusual for a bookie to ask for Govt. issued photo ID, a recent utility bill and even a selfie of you holding your ID along with proof of payment method before you can withdraw and sometimes before you can even deposit. Keep a copy of these on your computer and complete KYC asap even if not asked.
Remember Matched betting is all about GUARANTEEING profits not gambling you may think "Why am I laying this it's sure to win." If you find yourself thinking this STOP and look at some of the recent shock results.
Leave your sports knowledge at the door.
BACK THEN LAY
Stick to the plan and watch your balances grow.
It can be daunting when you start, odds, decimals, graphs, back, lay, rule 4, arbitrage plus 100 other terms. Like anything it's easy when you know how and most of what you see ( graphs etc ) you do not NEED to know about. keep it simple, learn what you need as you go, ask questions and your knowledge will grow with your profits.
*Combined liability sounds confusing at 1st but is simple once understood and is a powerful tool to maximise your profits