This guide is structured in many small chapters each corresponding to a particular step or concept of matched betting. It is very important that you understand everything before moving on to the next chapter. You don’t want to place any bets with your hard-earned money before you completely understand how matched betting works.
I suggest that you bookmark this tutorial as you may not be able to read and understand everything at once. You may want to read some chapters more than once, especially the ones that contain explained matched betting examples. It can take a while until you get everything but don’t worry. We have all been there, and I’m willing to assist you in any way I can.
Matched betting is a method of turning free bets offered by online bookmakers into real cash. Do this by covering all of the potential outcomes of a sporting event by placing multiple bets. By doing this, you can make a profit each time because it no longer matters which team won the sporting event.
How can I make money from matched betting?
Bookmakers give money away in the form of bonuses and free bets. Basically, matched betting involves placing multiple bets to trigger these offers. One back bet is placed (e.g. for Team A to win) and then one lay bet is placed at a betting exchange, but for the opposite result (e.g. Team A not to win). Regardless of the outcome of the event, the value of the free bet is unlocked.
Matched betting (also known as back or lay bet matching, arb betting, or double betting) is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered a risk-free bet as it is based on the application of a mathematical equation rather than chance. A typical return for a matched bet where the stake is returned is 85%+ of the free bet offer amount and 70%+ where the stake is not returned. So for example, if you see an advert for a bookmaker and they are giving away a £10 free bet – you will be able to ‘unlock’ £7 of that free bet as profit. That’s real money that you can withdraw and spend on whatever you like.
Basically, matched betting involves placing multiple bets to trigger these offers. The reason multiple bets are needed is to reduce the risk on your part.
For example, let’s say a bookmaker is giving away £10 if you bet £10 on tennis. If the odds are right, it would be possible to bet on Player A to win and bet against (or lay) Player A with a betting exchange.
This would mean your original £10 is returned and you get your £10 bonus from the first bookmaker. You then repeat the matching process (one bet at the bookmaker, and equivalent but opposite lay bet at the betting exchange) with your free bet amount.
Some of the bonuses offered by bookies are for new customers only. However, it is also possible to keep the profit coming in as bookmakers provide regular offers to incentivize existing customers. These are known as reload offers and are what makes matched betting viable, long-term.
Is Matched Betting Legal?
Yes, matched betting is perfectly legal. It can be done by anyone able to open an online betting account – that is most adults in the UK and Ireland. It’s also tax-free.
Matched betting is still relatively new, which is one of the reasons many still don’t trust it, but it’s growing in popularity as people realize the potential. OddsMonkey, for example, has had over 100,000 paying members use their service.
It is true that they close or restrict accounts of winning players but there are legitimate methods to keep your account open. Matched bettors share advice and tips on this very matter to help members keep their accounts thriving.
One other thing to remember is that you do need some spare cash in order to cover the qualifying bets. This is essentially afloat that you get back, but is required in order to place the required bets to unlock the free bet.
How Much Can You Make From Matched Betting?
The income earned varies widely, depending on the individual’s circumstances. The main factor is how much time you can dedicate to it.
To give you a general idea, OddsMonkey has two threads on its forum – how to make £1,000 a month and how to make £300 a month – but earnings can be much higher than that. The £1000 a month thread obviously takes more time, but it’s perfectly possible to earn £300 a month with minimal effort.
Some OddsMonkey members have shared their stories with us, including how much they have made, how long they spend doing it, what they’ve spent their profits on, tips for newbies, etc.
Do I Need To Be A Gambling Expert?
Not at all. You don’t even have to have an interest in the sport. Matched betting is really just about following instructions. It really is that simple. It is used by sports fans but is equally popular with stay-at-home parents and students as a way of earning money from home.
Matched betting itself is one of the safest and easiest ways of making money online, the amount you can profit compared with the time spent doing it also means you can earn an average hourly wage much higher than the national minimum wage.
