A Quick Guide To Matched Betting
Updated: Feb 1
After searching for ways to make money online, I have found that matched betting has come to be the quickest and easiest way to increase the bank balance. If you’re aiming to make a few extra hundred a month, this may be the perfect way to make money in your spare time.
Please be aware that this is NOT gambling. It is 100% risk-free if you follow the correct steps!
What is matched betting?
To put it simply matched betting is the concept of opening two opposing bets to take advantage of the bookmakers offers. What I mean by this is to open one bet to back a team and another bet, which we call a lay bet, to counter the original bet we are backing. By doing so, we eliminate the risk of losing money.
Let’s go through an example to help you better understand what I mean.
Imagine a bookmaker has a sign-up offer going around:
"Bet £10 Get £30 Welcome Bonus"
This means that if you bet £10 with the bookmaker, they will give you £30 worth of free bets. To take advantage of this offer, we sign up with the bookmaker and deposit £10.
Now the important thing with this to make it completely risk-free is to open another account with a betting exchange such as Betfair. This is separate from the bookmaker as we will be using the exchange to open our lay bets.
So now that you’ve opened two accounts, one with the bookmaker and one with the betting exchange, I will now be explaining how to actually profit.
We’ll use an actual example between the football match between Crystal Palace Vs Arsenal
We’ll need to place a trigger bet to activate the £30 free-bet:
Screenshot from William Hill
Remember to change the odds format to decimal to help make the odds easier to understand.
In this case, we have bet £10 to back Arsenal for a win. We must now head over to our betting exchange to lay this bet so there is no chance to lose our initial £10.
To help us identify how much our lay bet should be, we will be using this free calculator by OddsMonkey:
As you can see, this calculator automatically calculates how much we should lay after we input our back stake, back odds and lay odds. For this example, our lay bet will be £9.89.
Screenshot from Betfair
In the exchange, we have a lay bet on Arsenal. This means that this bet will win if Crystal Palace wins or the game is a draw.
Although it may seem like we have lost £0.60, do not worry about this because we have now unlocked our free bet of £30, which we will profit off.
We repeat the same process as above but with the free bet. We can choose another football game or we can bet on a different sport.
To keep it simple, imagine we bet on Everton Vs Brighton. We use the £30 free bet to back Brighton on odds of 4.2 and we place a lay bet on Brighton on the exchange with odds of 4.4.
We input this information on the OddsMonkey calculator to find out how much we should lay:
Remember to change the bet type to FREE BET (SNR) when you are using a free bet.
Using the calculator, we know that our lay bet will be £22.07 and we could walk away with an overall profit of £20.96.
To make as much profit from this bet as possible, the back and lay odds will have to be as close as possible. Remember that the odds in the bookmaker will always be lower than the odds in the betting exchange.
Additionally, the higher the odds the more profit you can make however this means the liability will be higher, which is the minimum amount of money you’ll need in your betting exchange account to carry out the bet.
What do you need to start?
I recommend you start off with a minimum of £50. The more you start off with, the more profitable you will be however if you don’t have a lot of funds it is still possible to make money from matched betting
An account with a bookmaker
An account with a betting exchange
Be at least 18 years old
Recommended Bookmakers To Start Off With
With less than 10 minutes of work, you have secured £20. By taking advantage of other bookmakers sign up offers, you can guarantee yourself at least £500.
However to take matched betting to the next level and consistently make at least £500 every month, I suggest signing up to OddsMonkey.
For £17.99 a month, you’ll have access to:
Oddsmatcher Tool (Software that will help you identify the best odds)
Racing Matcher (Helps to make money from horse racing)
Acca Matcher (Taking advantage of bookmakers accumulator offers)
Hundreds of videos to help you become an expert in matched betting
Sign Up offers worth £1050
60+ Reload offers daily
30 day 100% money-back guarantee
Make your first £45 for free by signing up to the free trial with the link below!