5 Steps To Making Money from Matched Betting

By no means am I a gambler. But I've used a strategy called matched betting to make a lot of money from bookmakers without gambling.

The outcome is this aide, where I'll impart the specific moves toward you as well. Screenshots and a free oddsmatcher tool are included. You need to be over 18.

What I'm teaching you here is a completely legal, tried-and-tested method called 'matched betting'. Matched betting allows you to turn the tables on the bookmakers to extract their free bet offers.

I've used it myself for several years and have never lost any money doing it. But I have taken my time and been very careful to avoid making mistakes.

Do not rush this guide. Make sure you understand it 100% before depositing any money, and please ask any questions if unsure of anything.

I'll be taking you through the 'need-to-knows' then showing you how I made £17.44 in 20 minutes in a full-blown example.

What is Matched Betting?

Matched betting is a technique that mathematically generates a profit from free bet promotions offered by betting companies. Almost all bookmakers advertise these offers to entice new customers to place bets with them.

For example, "bet £25 with us and we'll give you a £25 free bet!". We have a list of the best ones at the end of this guide.

How does matched betting work?

Firstly, you don't need to know all the betting terminology if you follow the steps below. But it's important you know two types of bet which allow matched betting to work:

A 'back' bet

Betting for a certain outcome to come true. Eg. "I bet England will win" is a backing bet. If it comes true, you win the bet and the winnings. If England lose or draw, you lose your stake. You can place a back bet at any bookmaker, such as Paddy Power, William Hill, Betfred etc.

A 'lay' bet

Betting against a certain outcome to come true. Eg. "I bet England will not win" is a lay bet. If they lose or draw, you win the bet. You can only place a lay bet at a betting exchange such as Smarkets.

Matched betting works by cancelling out the risk on the 'back' bet at the online bookies by betting against yourself at the same odds (know as 'laying' a bet) at a betting exchange. In other words, you are 'matching' your bet.

Following your first or 'qualifying' real money bet, you will be awarded the free bet by the bookmaker. This is where the profit is made.

Quite simply, you repeat the process: bet using the free bet and then lay the bet. Whatever the result you will be in profit (which I'll be demonstrating below)

How much profit can I make?

For each matched bet, you can typically expect to extract 50-80% of the free bet amount as profit. This is because betting exchanges usually charge a commission on winnings. You may also make a small loss on the qualifying bet due to the minor difference in odds on each website. This is normal, and you will recoup this when you use the free bet.

In the steps below I'll show you how to profit from a £30 free bet using a real-life example. Replicate the same steps across the dozens of free bet offers each year, and you can quickly be looking at £100s (depending on how much time and effort you put in).

Earnings from the gambling industry are currently tax-free. Whilst you can make a good amount of money from matched betting, for most people it's not going to replace a job.

What's the risk?

Anyone can learn how to do matched betting and, in theory, there is no risk involved because you are covering yourself by betting for and against the same event.

However the risk comes when mistakes are made. So you need to double-check everything and follow the steps exactly. On rare occasions free bets do not always come through right away, so be patient and always abide by the promotion's terms.

Once you've understood the process and successfully followed the steps below, you can continue matched betting at other online bookies with free bet offers (see my table at end) which can help you earn extra money.

It's also worth knowing that depositing at gambling websites does not affect your credit rating.

4 steps to matched betting profit

Note: This is literally a step-by-step, hold-your-hand kind of guide. There's lots of fragmented information out there on forums etc, which often results in costly mistakes for novices. Below I outline exactly the steps I follow, using the practical example of one free bet. So long as you follow word for word, you can't go wrong. I strongly suggest reading through all the steps first before making any bets. You'll also find using a desktop computer far easier than on mobile.

>Open a Smarkets account

Smarkets is a betting exchange where you can 'lay' bets to match against 'back' bets at bookmakers.

Unlike traditional bookmakers, Smarkets is a place where you bet against other people.

Right now they have a 0% commission promotion when using the code COMMFREE.

You will need to deposit £10 after registering to activate this offer.

>Open a Betfred account

One of the best offers right now is with Betfred who are offering £50 of free bets to new sign ups when you bet just £10 (don't worry we'll be matching this too). So we'll be using this 'bookie' in this practical example.

Note: Betfred will credit you with £30 to use on normal sports bets and £20 on accumulators. We will only be focusing on the £30 free bets initially since they are easy to match.

Always check the full T&Cs of receiving free bet offers.

During registration, you will be prompted to make a deposit. Use a debit card in your name to deposit £10 (needed to unlock the free bets).

>Use decimal odds

Once you've logged into Betfred, change your odds display from fractions to decimal for easy comparison with Smarkets. This is essential!

To do this click on the green button with £X.XX at the top right, then click "Account Settings", then "Odds Format" and select "Decimal".

>Oddsmatcher tool (Free bet)

Just click the blue refresh icon to start and then follow the 3 steps.

Once again, feel free to switch between the matches in the table and the calculations will be updated.

>Withdraw the profit

Whatever the outcome, you will now be in profit to the amount calculated in the Oddsmatcher. Now it's time to cash out!

In my example of the Southampton v Wolves game, Wolves won the game 2-1. This means my £30 free bet on Betfred won with a return of £48.75.

Meanwhile, I lost the liability amount of £30.93 on Smarkets (which was betting that Wolves would not win). This leaves me with a profit of £17.82.

Below are my full betting statements for both Betfred and Smarkets, showing the qualifying and free bet outcomes.

My total profit from both matched bets, accounting for the 38p loss on my £10 qualifying bet, totals £17.44. I spent just under 20 minutes on the whole process, as I move on to the other free bets out there (best listed below).

On Betfred you should still have £20 of free bets to use on accumulators. To learn how to maximise the value from these you will need to use an 'Acca Matcher' tool.

If you enjoyed and profited from this guide, sharing it is the best thanks you could give. And I'm sure they'll appreciate it too.

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