Welcome to our step by step guide to matched betting. Here we answer all your matched betting questions, what is it? Is it legal, and how can I make money from it. These are just some of the topics we will cover right here.
What Is Matched Betting?
The question gets asked by non gamblers and gamblers alike, just what is Matched Betting? Well Matched Betting is a relatively simple way to make money from the free bets on offer from online bookmakers. The free bets are intended to entice us to join the bookmakers in question, and then once we have used the free bet, the bookmakers expect us to give them that money back along with a lot more.
If used the right way, we can use these free bets to our advantage and actually make money off the online bookmakers for a change. This is known as Matched Betting.
You Will Need A Betting Exchange Account For Matched Betting
Before you can start the process of Matched Betting, you will need an account with a betting exchange. I use Betfair.
There are two reasons you need a betting exchange for Matched Betting. The first is so you can match up your qualifying bet. For those not familiar with this, your qualifying bet is the bet you place with the bookmaker to gain you your free bet.
The reason for having the betting exchange account is so you can lay off your qualifying bet to ensure you don’t lose your money on the qualifying bet, as this would totally defeat the object.
For example, if the free bet offer was for £50.00, it would generally come in the format of ‘have a bet for £50.00 with us and we’ll match it and give you a free bet of £50.00.
So what you would do is have £50.00 on Manchester United (for example) at Even money (2.00) with the online bookmaker, and then lay Manchester United for £50.00 on the betting exchange (to lay, is effectively having a bet on the team NOT winning, as opposed to winning).
This would ensure you get your £50.00 back no matter what happens in the match.
Use Your Free Bet To Make Risk Free Money
Once you have done this, you will have a £50.00 Free Bet sitting in your bookmakers account.
This brings us onto the second reason why you have an account with a betting exchange. What you then do is you use your £50.00 Free Bet to again back Manchester United to win at Even money (2.00) in their next game, only this time when you lay them on the betting exchange, you only lay them for £25.00.
This guarantees you a return of £25.00 no matter what happens. If Manchester United win, you get £50.00 from the bookmaker, but lose £25.00 on the betting exchange. If Manchester United don’t win, you get nothing from the bookmaker (but you don’t lose anything as it is a free bet you are using), but you do win £25.00 on the betting exchange from your lay.
There are now literally hundreds of pounds worth of free bets out there, there is a nice list of them in the column on the top left hand side of this blog, they are also on my free bets page.
A nice tidy profit can be bagged from doing this, and this is also a great way of building yourself a handy betting bank for football trading, starting with as little as £100.00. Check my post about best betting sites and my free bets list for more information.
If you’ve ever wondered what Profit Maximiser is, then let me tell you. Profit Maximiser is a betting system that makes money from free bets, it’s basically matched betting. For this you will need access to one of the betting exchanges.
Matched Betting is a tried and tested technique. It makes money from the free bets you get from bookmakers when you open a new betting account.
It also makes money from free bets for existing customers. Basically, any free bet can be converted into risk free cash using the matched betting technique.
What Profit Maximiser does is bring you all these free bets in one place. It will show you how to extract the maximum amount of risk free cash from all these offers. This betting system basically does the work for you.
As well as finding you all the bookmaker’s free bets, Profit Maximiser also shows you how to make money from spread betting offers, casino offers, and bingo offers.
Profit Maximiser Review
Please take the time to read our Profit Maximiser review, here we go into far more detail about how the system works.
In our review of Profit Maximiser you will see that it is a 12 months of the year betting system. As long as you have a wi-fi connection and a bank account, you can do make it work for you.
There is currently a 14 day trial available, where you can get full member’s access to the service for just £1.00 + Vat. If you don’t like it, you cancel within the 14 days. If you decide you like what you see, then you pay the remaining £96 + Vat, at the end of the 14 days.
With the 14 days trial, any money you make is yours to keep. If you get really busy, you might even manage to make all the subscription money required in the 14 days trial.
Either way, you have absolutely nothing to lose by trying the Profit Maximiser system out – it’s only £1.20 in total. You never know, you might even like it. More details can be found in our full Profit Maximiser Review.
Best Football Betting Sites
Picking a decent bookmaker can be a painstaking task. Do they offer the wide range of football betting markets you are looking for?
Do they have a decent new customers offer? And what about offers for existing customers?
These are all important component when you are looking to find the best football betting sites.
Luckily, we have put together a page of the best football betting sites. Meaning you don’t have to trawl the internet to find them.
As well as finding you the best football betting sites, we have also sourced betting exchanges, and football spread betting sites.