Matched Betting: Getting Started! - My Matched Betting Experience



What Is Matched Betting?


Many bookmakers online offer free sign up/welcome bonuses as a way of getting new customers to open accounts with them, or to encourage them to continue to place bets if they’re already signed-up.

The technique of Matched Betting is to take advantage of these offers to make guaranteed profits.

This is done by betting on all outcomes of an event. Therefore, it is a well calculated technique, that always results in a profit.

Note: Matched Betting is NOT gambling.


Who Is Matched Betting For?


Everyone!…well, almost.

Matched Betting is for anyone in the UK looking to make extra income online. (but of course you have to be over 18 in order to place bets).

The great thing is, you don’t need to have any prior experience of betting or Matched Betting, it is perfect for complete beginners. In fact, the least number of bookmaker accounts you have, the more sign ups you can take advantage of.

Matched Betting Is Great For...


  • Students
  • Stay At Home Mums and Dads
  • Retirees
  • Unemployed
  • Part Time or Full Time Workers
  • Anyone interested in earning an extra income online


How Much Can You Make?


Matched Betting isn’t something that will make you rich, but it will allow you to make a sufficient additional income. How much you earn depends on how much you start with, and the time you spend. Starting out you may be able to earn up to £500/month, and over time this could become up to £2000/month…and it’s all risk-free!

Even just spending 30-60 minutes a day can yield good profits. The best thing is you can see the results straight away. You can start making money within 24 hours of placing your first bet! Here’s some more good news…it’s tax free!

The technique of Matched Betting is to take advantage of these offers to make guaranteed profits.

This is done by betting on all outcomes of an event. Therefore, it is a well calculated technique, that always results in a profit.


What's The Catch?


Well, you’ll be glad to hear…there isn’t one!

Matched betting is a totally legitimate way to make money online. 

Don't Just Take My Word For It...

There have been articles written about it by these sites below. (Click the logo to read each article)

  • Money Saving Expert (MSE) has a dedicated forum on their site solely for Matched Betting (There is a lot of information available on the forum, however, it can be quite a lot to take on as a beginner, so using a service such as Profit Accumulator, will put the information you need all in one place, in easy to follow steps)

So as you can see, this is something that this is real (especially if these guys are recommending it as a source of extra income)


Is There Any Risk?


The only real risk to Matched Betting is human error. If you make a mistake, or don’t pay attention, things could end badly. That’s why it is very important that you double check everything you are doing, and following steps exactly.

As mentioned before, I would highly recommend using a Matched Betting Service to guide you through the process (especially if you are completely new). I currently use Profit Accumulator, but there are other services available that you can join. 

Also, be sure to do lots of research. The aim of this blog is to provide you with lots of information to help you get started and share with you the things I am learning along the way.

Eventhough I will try my best to share as much as I can, I don’t know it all, and would encourage you to research as much as possible before getting started.


So, How Does It Work?


Matched betting works by placing 2 kinds of bets. A BACK bet and a LAY bet.

One bet will be placed at a Bookmaker, such as Coral, and the other bet with be placed at a Betting Exchange, such as Betfair.

If we take a football match as an example: Arsenal v Manchester United

With the Bookmaker (Coral), you would place a bet for Arsenal to WIN the match. This is known as a BACK bet, as you are backing Arsenal to win.

With the Betting Exchange (Betfair), you would place a bet for Arsenal to NOT WIN the match. This is known as a LAY bet, as we are betting against Arsenal. Placing a LAY bet also covers you if a DRAW occurs, because this counts as Arsenal not winning.

So in this example, we can see that the BACK bet and the LAY bet cancel each other out, therefore, no matter the result, we are not losing any money.

If Arsenal WINS, the money goes into our Bookmaker account

If Arsenal DON’T WIN, or DRAW, our money goes into the Betting Exchange Account.

Either way, we make a profit!


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Step-By-Step Example

CORAL- BET £5, GET £20 FREE BET

In order to receive a free bet, there are a few steps we would need to follow first. In this step by step example, I’ll show you how you would use Matched Betting to make a profit with Coral, using the £20 free bet.

This is just an example, I would encourage you just to follow this step-by-step example as a guide, to read and understand how this technique makes guaranteed profit.

(Please note, this is just a guide. Don’t attempt to do the sign up offer unless you know exactly what you are doing. I personally recommend using a Matched Betting service like Profit Accumulator, before placing any real bets)

Step 1: Sign up with Coral (The Bookmaker)


You will need to make a new account and sign up through their welcome offer. This will be the place where you BACK your bets.

coral welcome bonus offer

Coral: Bet £5, Get £20


Step 2: Deposit £5


In order to receive the £20 free bet you will need to deposit £5 into your account with Coral (you can use different types of payment methods such as Debit Card, Paypal etc).

Tip: Make sure to always read the Terms and Conditions of each sign-up/welcome offer.


Step 3: Sign Up To Betfair (The Betting Exchange)


You will now need to make an account with Betfair. This will be the place where you LAY your bets.

lay bets with betfair

Betfair


Step 4: Deposit £5 Into Betfair


You will need at least £5 in your Betfair account known as the ‘liability’, which is the amount you need in order to place your LAY bet. (Don’t worry, you don’t lose this money).


Step 5: Finding The Odds


You will be using an ‘odds matching’ software to find an event to bet on. In this example, the minimum odds for your £5 bet with Coral is 1.5. Therefore we need to find odds that are close to 1.5 for our BACK bet.

profit accumulator oddsmatcher

Oddsmatching Software


Step 6: Find Matching LAY Odds


We’ll need to find odds that are very close (or as close as possible) to our BACK bet odds

Oddsmatching software

Oddsmatching software

So in the example, our BACK bet odds are 1.62 (blue) and our LAY bet odds are 1.67 (pink)


Step 7: Calculate LAY Stake


We have our BACK bet (aka Bookmaker Stake) amount which is £5. We have our BACK bet odds of 1.62, and LAY odds of 1.67. We now need to work out how much to LAY at the betting exchange. So we use the calculator:

calculate lay bets

Oddsmatching Calculator

From this we can now see that we need to make a LAY bet of £5 at the book maker, and have a liability of £3.35 (hence the £5 deposit)

Now looking at the calculator we can see that we’ve made a loss of £0.25p. Don’t worry, this is perfectly normal. Although we’ve made a loss, it will release our free bet, which will more than cover the £0.25p.


Step 8: Search For The Event and Place Bets


Search for your chosen events on Coral and Betfair, and make sure the odds are still the same. Then place your bets.
Once you’ve place your bets on both accounts, you will immediately qualify for your free bet.

(Please note: not all bookmakers release the free bet straight away, some release 24-48 hours after the event has occurred to release the money) 

This initial step used to release our free bet is called “A Qualifying Bet”


Step 9: Using Your £20 FREE Bet


You will soon be credited with a £20 FREE bet. Now you can follow the same steps above, but using your free £20 bet instead.


Step 10: Find Odds 4.0 or More


You’ll also want to look for odds higher then 4.0, in order to maximise your profits. You can go for higher odds, but the higher the odds, the higher the ‘liability’ you’ll need.

When I did this offer I used lower odds than 4.0 as I had a smaller starting budget (so if that’s the same for you, then try and stick to lower odds, but just bare in mind that lower odds=lower profits).

odds of 4.0 or more

odds of 4.0 or more

In this example, the BACK odds are 5 and the LAY odds are 5.


Step 11: Calculate LAY Bet


odds matching calculator

With our Free Bet, we need to select “Free Bet (SNR)”, in order to get the right calculation. So we enter:

  • BACK bet (aka Bookmaker Stake): £20
  • BACK odds: 5
  • LAY odds: 5
  • Commission (from Betfair): 5%

This means we need to LAY £16.16 at Betfair. As the odds are higher, the ‘liability’ we need at Betfair will also be higher. In this case it is £64.64. Therefore, you would need to deposit this money into your Betfair account. If you have a bigger starting balance, then try and go for the higher odds. However, if you’re starting out with a lower balance, like I did, then stick to lower odds. See example below:

lower odds

Lower odds

Above we have much lower odds. The BACK odds are 2.5 and LAY odds 2.52. So if we input those figures into the calculator we get:

Calculator with lower odds

Calculator with lower odds

As you can see, the liability is much less, but you’re still able to make a decent profit. So in this case, I would deposit another £18.47 (or rounded to £20) into my Betfair account, to cover the liability of this bet.


Step 12: Work Out Total Profit


So now, in order to work out our total profit, we’ll need to subtract the £0.25p we lost from the ‘qualifying bet’. Therefore:

At the Higher odds

If Coral bet wins (a.k.a BACK bet wins):

£15.36 – £0.25 = £15.11

If Betfair bet wins (a.k.a LAY bet wins):

£15.35 – £0.25 = £15.10

 

At the Lower odds

If Coral bet wins (a.k.a BACK bet wins):

£11.53-£0.25 = £11.28

If Betfair wins (a.k.a LAY bet wins)

£11.54 – £0.25 = £11.29

There you have it...RISK FREE money guaranteed!

I hope this example has shown you that Matched Betting really does work.

Initially you may be feeling unsure about having to put in your own money, don’t worry, I felt the same at first. But honestly, this will be a small investment into what you can achieve if you follow the steps accurately.

If you’re still confused or just want some more clarification, below is a video I came across that really helped me understand Matched Betting in a very simple, straight forward way. Hopefully you’ll find it as useful as I did in understanding the basics of Matched Betting.

Furthermore, if you’re ready to get stuck in and start making money with Matched Betting, then I would highly recommend joining a Matched Betting Service, especially if you’re completely new to the whole concept of Matched Betting. I personally recommend Profit Accumulator for beginners, however there are others available which I have listed here.


Ready To Give Matched Betting A Try?

Try Out Matched Betting With My Recommended Program For Beginners

You Could Earn Up To £45 With Their FREE Trial