Matched betting – What is it and how do I get started?
As stated in my post – ‘How to make money while on maternity leave‘ – Matched betting is a great way to earn £100s in tax free, risk free cash from home. We are NOT gambling money with matched betting, we are just taking advantage of the free bet offers betting sites run to attract new customers.
But I don’t like sports and don’t know how to place a bet.
Before I started matched betting I have never placed a single bet online. I am not interested in sports or gambling but as so many people were making lots of money from matched betting, I didn’t let it put me off. I was very dubious and nervous at first about trying matched betting, as it seemed too good to be true. I felt uncomfortable with the idea of signing up to betting sites and was worried I would do something wrong that would cost me money. After reading reviews on trustworthy websites like the ‘Betfair’, ‘Money saving expert‘ and the ‘Guardian newspaper‘ I gave it a go and I haven’t looked back.
How to win at the bookies 100% of the time!! Is it possible?
It is very important that you do not go it alone when you begin matched betting and you should do some research before you begin. There are many websites that can help you get going and my favourite is a website called Profit Accumulator.
Not only do they provide a step by step guide to matched betting, a matched betting calculator and oddmatching software, they also walk you through your first two promotions/sign up offers for free. I took away £40 from these first two offers. Not bad for someone who had never placed an bet online before.
What is matched betting?
Matched betting involves placing two different types of bets’ – A back bet and a lay bet.
”The Back bet” – This is when you place a bet backing a certain outcome to happen on the bookie offering the promotion e.g. England to beat Belgium in a football game. You are backing England to win so this is your back bet. You probably know how to place a back bet and may have placed a back bet yourself on different occasions e.g. backing a horse on the grand national.
Sounds simple so far, but what if the bet you place at the bookies loses? Isn’t this just gambling? Well this is why it is called matched betting.
”The Lay bet” – This is when you place a bet against a certain outcome on a betting exchange (such as Betfair Exchange). You are betting for an outcome NOT to happen e.g. for England NOT to beat Belgium in a football game. With the lay bet you are covering the draw or Belgium to win outcome. Using https://www.profitaccumulator.co.uk/worldcup/“>Profit accumulator’s free odds calculator you can calculate exactly how much money you need to place on the lay bet. It is often more than you have placed on your back bet as you are covering 2 outcomes. https://www.profitaccumulator.co.uk/worldcup/” target=”_blank”>Profit Accumulator have a step by step guide on how to do this too.
Putting it all together.
So in basic terms, matched betting involves placing a back bet and lay bet on the same event and market to qualify for the free sign up offer. These two bets need to be placed with odds that are as evenly matched as possible e.g.odds of 2.0 for your back bet and odds 2.05 lay bet would be good odds for your qualifying bet. You can use Profit Accumulator’s free odds matching software to select which market/event you will bet on. You may lose a few pounds on this bet depending on how closely matched the odds are. Once you have received your free bet you then do the exact same process again, placing a back bet and a lay bet to cover all outcomes. This time the stake is not your own money i.e. this is a ‘free bet’, and you can extract up to 60-70% of the stake amount. How good is that!!
If you understand everything so far, you are well on your way to making £100s in tax free cash!!!!
Sign up to Profit Accumulator today for free and earn up to £45.
If you don’t love it then you do not have to continue. If you love it then they have a monthly subcription of just £17.99 a month. What are you waiting for!!!
The 4 step process with Profit Accumulator: How to place a matched bet.
Matched betting involves 4 steps and Profit Accumulator walk you through them all. Once you have signed up to Profit Acculmulator you will have access to their odds matching software (which is where you will find the markets to bet on), and their matched betting calculator. You will need this to calculate the stake amount you will need for your lay bet to cover all outcomes.
Step 1. You need to meet the requirements to qualify for the free bet/sign up offer. This requires you to open an account with the bookie and sometimes you need to opt into the offer. You then deposit a set amount of cash (usually by visa/master card – Please note that e-wallets such as paypal, skrill and neteller are often not accepted.
Step 2. Once you have signed up you will often see odds given in fraction form. Change this to decimal form straight away. You now need find an event and market to bet on which you can find on Profit Accumulators odds matching software page. The event/market needs to have odds over a certain threshold and each bookie states their minimum odds requirement in their terms and conditions which you MUST READ thoroughly!!Once you have found a market with good matched betting odds (e.g. Liverpool to win Man U), you need to then enter the stake amount (e.g. £30) and back bet odds (the odds for Liverpool to win the game) into Profit Accumulators matched betting calculator. You need to select ‘normal’ mode. This is very important and is usually the default setting.
Again Profit Accumulator guides you through this process step by step, telling you all the terms and conditions that you need to know for each bookie, the markets which have good matched betting odds, and helps you to input the stakes and odds into their matched betting calculator. For your qualifying bet, stick to odds that are as low as possible but are still above the threshold amount stated in the terms and conditions e.g. if the minimum odds required is 1.5, then look for markets with odds just above e.g. 1.8. The higher the odds, the more of your initial stake you will lose.
Step 2. As well as finding your back bet at the bookie offering the promotion, you need to cover the other outcomes of the bet on a betting exchange (e.g. Betfair exchange). You need to find the same market and event (i.e. Liverpool V Man U), but instead of backing e.g. Liverpool to win you place a lay bet against Liverpool winning (covering the draw and Man U win). You need to then enter the odds for this lay bet into the calculator so you can see the stake amount you need to place and the liability (which is the amount you need in your betting exchange account to cover the bet). It will also calculate how much you stand to lose on your initial stake.
Once again Profit Accumulater walks you through this whole process.
Please note: There are 3 betting exchange sites that you can use (Betfair, Smarkets and BetDaq). I use Betfair as they have great odds, lots of fluidity in the market and also have a great sign up offer for their sports book site (see here).
Once you have placed these two bets you need to wait for them both to be settled before you receive your free bet.
Betfair affiliate once page is done.
Step 3. Once you have placed your qualifying bet and it has been settled, you should receive your free bet at the bookie offering the promotion. You will either have won your initial stake over to the betting exchange (which is preferable) or you will have money in at the bookie you are using for the sign up offer. Once you have your free bet available in your account it is now time to make your profit.
You follow step 1 and 2 above, placing a back bet and a lay bet on the same market. This time select markets with higher odds to extract more of the free money. HIgher odds means you will need more money in the betting exchange to cover the bet however. Once again Profit Accumulator will take you through this process step by step and gives you all the markets to chose from on their oddsmatching page. You then need to enter the back and lay odds into their calculator but this time select ‘Free bet SNR (stake not returned). This once again shows you how much to place on the lay bet, your liability and the all important profit you can extract from the ‘free bet’.
How much can you make from one free bet?
This depends on what the offer is. I was given an offer with a bookie in June 2018 which required me to deposit and bet £100 and they would give me a £100 free bet. After following steps 1 to 3, I lost £5 on my initial £100 but gained £68 from the free bet. This meant I was up £63 for a few minutes work over 2 days, risk free and tax free.
I made over £600 in my first month matched betting and although once all the sign up offers are completed, things slow down, there are plenty of reload offers and promotions on online casinos which you can take advantage of. Profit Accumulator keep track of all offers and they have a great online community that share hints and tips.
Is matched betting for you?
This is a great opportunity to good to miss. You can make some serious cash very quickly from your computer if you follow a couple of very simple steps. You do not need to know anything about sports or individual teams and even if you have never placed a bet before, you can get the hang of it very quickly. It is actually a saying in the matched betting world that ‘if you care about what you are betting on then you are not doing it right’.
I know of experienced matched betters that earn well over £1000 every month consistently for a few hours work a day at home.
Which matched betting site should I chose?
There are several matched betting sites out there including a big player called oddsmonkey. They also offer a free membership were you can earn up to £45 from two sign up offers. I have read amazing reviews of Oddsmonkey and their monthly subscription is only £17.99 a month also. The reason I signed up to ‘Profit accumulator‘ was simply that it was the first matched betting website I came across. I have not been a member of Oddsmonkey so I cannot give an honest review of their services. You could always sign up to both and see which one you prefer. Oddsmonkey also provide free guides to matched betting, oddsmatching software and a matched betting calculator.
With Profit Accumulator or Oddsmonkey you can earn up to £45, so you have nothing to lose and £45 to gain with maybe 20 minutes work!
You make think matched betting is too good to be true but it is a real way of making actual money. It is 100% legal and as gambling profits in the UK is tax free, the profit is yours to keep!!!!
Select a link below and get started today!!! What are you waiting for!!