- Matched Betting For Dummies
- A. Matched Betting – Real Basics
- B. Matched Betting – How it Works
- C. Conclusion - The Short-Term & Long-Term
Matched Betting For Dummies
Matched Betting Formula
Matched betting is all about placing a bet with the bookmaker and then eliminate all of the risks by placing an opposite bet with the exchange to scalp the bonuses & free bet effectively.
Financial Adviser’s Story
As the opening up of Matched Betting for Dummies Guide, let me quote the article of the Guardian on 24 July 2010 (yes, matched betting was not born yesterday but has over a decade history) as follows;
“I was a financial adviser for 10 years until I sold the business a year ago. I think I have a more critical and suspicious mind when it comes to money-making schemes, especially ones that purport to be risk-free.
There is an old proverb that says: “In a bet, there is a fool and a thief”, and I’m not inclined to disagree. Could I really sit in front of my screen and make money from the bookies for nothing? The answer, to my surprise, was yes.
Over the past month, I have researched and used every decent online free bet introductory offer from a bookie. I’ve taken up 31 offers so far – and I’ve made in the region of £770.
The money I have made has been absolutely risk free, it’s not been about gambling but about playing the system – and it was inspired by Guardian Money. I don’t even have to pay tax on my winnings.”written by ex-financial adviser in the Guardian on 24 July 2010
Matched Betting Is No Gambling & Tax-Free
Matched Betting is Not Gambling but Sure Bet.
It’s neither scam nor fishy system, but legitimate & risk-free method publicized by many established media, which enables you to start & make £/€1,000 every month on the side.
Additionally, despite the fact that Matched Betting is No Risk, it’s still categorized in Gambling. In the UK & Ireland, any winnings from gambling are Tax Exempted.
Even you are considered as Professional Gambler who rely on gambling for a living, you will be exempted from taxation, which is clearly defined by HMRC Internal Manual – a professional gambler.
For the outside UK, there are many jurisdictions that apply the same rule as UK & Ireland, for details, take a look at How To Make Money From Offshore Sports Betting, which I explain a bit later.
A. Matched Betting – Real Basics
1. Conventional Bookmaker & Betting Exchange
Although it’s not gambling but still a Betting. And you bet on Sports Events at Bookmakers, like William Hill, Ladbrokes, Paddy Powers etc, which you find in the high streets everywhere; You can bet at shops, but basically, all bookmakers operate online sites.
The number of online betting sites is far larger than the bookies that run street shops. Or, let me correctly say there are so many online bookies that don’t have street shops, represented by giant Bet365 (Bet365 sold their street shops to Coral).
We use online bookmakers for matched betting (we have a separate advantage method to use street shops).
Opening Up Account – CAUTION
Matched betting is all about making the best use of bookmakers’ promotion like sign up offer of “Bet XX Get XX Free Bet”.
Don’t sign-up directly with bookmakers before checking the availability of Cashback Offer because if you use cashback sites you may receive both bookies’ own welcome bonuses & cashback (usually big operators like Bet365, PaddyPower, Ladbrokes & Corals are listed there).
In the matched betting, we also need a Betting Exchange. You may have heard the name Betfair. Yes, Betfair is the inventor of the betting exchange, and there are 4 established betting exchanges as below;
A betting exchange allows you to bet against each other rather than against a bookmaker, so it’s a market place like a stock exchange.
You bet on Win (called “Back Bet”) at conventional bookmakers, but in the betting exchange, you can bet NOT Win (called “Lay Bet”).
The lay bet is, for example in Football, betting on both draws & lose. Namely, players can make the bookmaker’s role by offering odds to any liability they are prepared to lose. We explain full details in How to make money on the Betting Exchange.
BTW, this report shows all top 4 betting exchange latest sign-up offers & how to extract cash risk-free from each offer including Betfair £100 Free Bet, which is supposed to be one of the best offers in the industry.
So, we place bets at bookmaker & exchange to make guaranteed risk free profits by covering all the outcomes.
2. Not Only for UK & Ireland But Also for Everybody in the World
Which Countries Can It Work?
One of the most popular questions we receive is “Can I make money from matched betting in my country?” or “What about matched betting the USA, is it profitable?”
In this guide, I mainly use UK & Ireland examples though, it doesn’t mean it’s not for the people outside the UK. Conversely, UK players are getting worse terms from the bookies who don’t like this activity.
Betting Exchange Availability
The similar question we often receive from the people outside UK & Ireland is “We don’t have Betfair or any betting exchange”.
3. Matched Betting Legitimacy & Risk
Matched Betting is a legitimate activity, which is endorsed by the established bookmakers like William Hill as follows;
“Matched betting is legal and a spokesperson for William Hill has indicated that the betting industry does not have a problem with this use of free bets.”wikipedia
“Graham Sharpe, from William Hill, says the industry does not have a problem with matched betting. “There’s no illegal element,” he says. “It’s a free bet and you can do what you like.”The Telegraph articles
Caution – Bookmaker’s Real Voice & Account Restriction a.k.a.Gubbing
You need to know the harsh fact that most matched bettors face account restriction, a.k.a. “Gubbing” in many bookmakers.
Simply bookies don’t like Sharp punters (matched better is one of the Sharps) who take too much value from them. see the quote from wiki;
“Most bookmakers have people on their staffs looking for bettors ‘taking too much value’, something which tends to happen with matched betting.
They will place restrictions on the accounts of bettors who may be taking advantage of promotions too often, such as preventing them from placing very large bets. Bettors whose betting behavior is unacceptable to a given bookmaker risk being banned from that bookmaker’s site.”wiki
No-Risk Matched Betting BUT Not Effort Free
Most of the sites that introduce Matched Betting as “This is the easiest way to make a quick $100 profit?” “No Risk money-making for newbies” etc.
But Too Good To Be True is the Essence in this real world. Matched Betting is Not Effort Free. MoneySavingExpert.Com (MSE) Forum cautions like below screenshot;
However, it’s not so risky as money saving expert cautioned. Actually, it’s one of the safest & quickest ways to make real money.
Betting is a male-oriented image, but a lot of females started matched betting and it’s one of the most popular topics in Mumsnet.
Matched betting is simply based on mathematical advantage. As long as you take offers with Positive EV (Expected Value), you will not lose because mathematics will protect you.
As said at the beginning, hundreds of thousands of ordinary people have been making money with effectively risk-free. The biggest issue is human error or careless mistakes and you need to make efforts to learn how to work and carefully execute betting.
B. Matched Betting – How it Works
This chapter will help you understand how Matched Betting works theoretically & practically. You will have been able to know basically everything by the time you finish this chapter. Then, you will decide what you should do in the Warp -Up.
1. Theory & Logic
Matched Betting Step-By-Step
Let me show you a very simplified explanation for you to understand the process of matched betting;
- The organizations you use: Bookmaker such as 888 Sport & Exchange like Betfair
- The profit source; Bookmaker’s Free Bet Offer such as 888 Sport sign-up offer of Bet £10 Get 30 Free Bet as seen above
- You Do 2 transactions; Back (bet on win) £10 at 888 Sport& Lay (bet on NOT win, means both lose & draw like the case of a football match) appropriate stake £ (use Free Calculator) at Betfair so that you cover all outcomes.
- No matter what the event’s result will be, your losing & winning will cancel out each other. In real practice, usually, 2 bets are not perfectly offset due to the odds difference & exchange commission. Therefore you make a small loss called Qualifying Loss. However, you get £30 Free Bets.
- Now, you repeat the exact same process but using the free bet for the back bet at 888 Sport. Then, this time free bet value (minus little loss) will become your net profit.
- People can extract cash usually in the range of 75% – 95% of free bet value, depending on how close the odds between bookmaker & exchange will be.
- So, unless you make any careless mistake, you will get risk-free guaranteed profit.
Note: 888 Sports offer – for all territories outside the UK, need to enter “30FB” code when you make your first deposit. Besides, the offer includes £10 Casino Bonus which you will find how to tackle in casino bonus hunting guide.
The above concept originally came from Arbitrage Betting that was originated from financial arbitrage. It’s based on the application of a mathematical equation rather than chance.
Matched Betting is based on exactly the same mathematical logic and actually, it’s safer & easier than Sports Arbitrage which has a lot of pitfalls to avoid.
The Difference From Sports Arbitrage
Matched Betting, due to the use of Free Bet / Bonus offered by bookmakers, your risk of losing money caused by the pitfalls is much lower than Sports Arbitrage.
Besides, the chance of your account restriction imposed by bookies is relatively lower, because sports arbitrage exploits the market efficiency or bookies’ mistake which bookies don’t like.
2. Matched Betting Glossary / Jargon
You may come across a lot of matched betting jargon, so open the below box to find the basic terms for your reference while learning matched betting;
3. Bookmakers’ 8 Common Type Of Offers for Matched Betting
Broadly speaking, we can split the bookmaker’s bonus into two, which are “Welcome (Signup) Bonus to New Customers” and “Reload Bonus to Existing Customers”.
Then Welcome Bonus has three basic types and Reload Bonus has five common types.
Three Popular Type of Welcome Offers for New Player
- Qualifying Bet First before you receive Free Bet, typically “Bet XX Get XX Free Bet”
- If You Lose Your Qualifying Bet, Receive Bonus, typically “We Refund If You Lose Your 1st Bet”
- Receive Bonus When you Deposit and Make Qualifying Bets based on the required Rollover / Turnover before Withdrawal, typically “We Match 100% Bonus of Your Deposit”
We separately prepare this guide, which summarizes 5 popular sign-up offers of the bookies in the whole Europe & the process to extract cash, FYI.
Five Common Type of Reload Bonus for Existing Players
There is various type of promotions but 99% of them are the variations of the following 5 types of offers and our methods will allow you to extract real cash with risk-free.
- We will Boost Your Price / Enhanced Our Odds
- We will Refund you IF your horse Finishes 2nd
- We Offer You Extra Places (Horse Racing/golf or Tennis Tournament etc)
- We refund your losing bet “IF xxx happens”
- We refund IF 1 team fails your ACCA
We explain details of each bonus type & the guide on how to extract cash from each offer in No Risk Matched Betting Starting Guide (1) – Bonus SR and SNR (Free Bet)
Alternatively, we also prepared the common types of welcome offers of the bookies in the whole of Europe with the specific instructions to lock-in profits via matched betting, please find more details in this guide.
4. Process, Caution & Key Tools
Process – Turn Free Money into Real Cash
As said at the beginning, matched betting is all about placing a bet with the bookmaker and then eliminate all of the risks by placing an opposite bet with the exchange (or possibly another bookmaker) to scalp the bonuses effectively.
As briefly explained before, It’s actually very easy & simple. We have prepared the below 3 series of instruction, which is step-by-step instructions using the real examples;
- Matched Betting Quick Start Guide (1) – Bonus SR and SNR (Free Bet)
- Matched Betting Quick Start Guide (2) – Place Qualifying Bet
- Matched Betting Quick Start Guide (3) – Extract Profits from Free Bet
T&C (Terms & Condition)
One of the most important thing and people often overlook is to carefully check the Terms & Conditions (T&C) of the offer.
I know it’s cumbersome & boring to read T&C of every sign-up offer. But strongly suggest you do, because skipping it may lead to a costly mistake.
There are 2 essential tools you need when you implement matched betting, which are;
- Odds Matching Software to find the opportunity of matched betting (closest odds between bookmaker & Exchange)
- Matched Betting Calculator to calculate the lay stake required and predicted Profit / Loss.
Currently, the best free software is;
- Bonus Bagging Odds Matching Software
- Bonus Bagging Matched Betting Calculator or Tricky Bet Lay Calculator
The issue of the free Odds Matching Software is that the matched betting opportunities they show you are 20-30 minutes delayed information. It’s fatal for Sports Arbitrage but for matched betting you can use it without so many problems.
5. Quick Practice – Grab £20 – 25 Now!!
Quick £20 – 25 Money Making Trial Now!!
The practice is the quickest & best way to master it. For those who want to earn £20+ risk-free profit instantly, Try It NOW, just exactly follow the below 2 instructions, No Brainer, just do what you see;
6. How Much Money Can You Make?
It really depends on the level of your commitment & the number of bookmakers you involve. The more effort you pay, the more extra income you can make.
Just for the sake of estimating the required commitment level, once you get used to the method and can work efficiently if you want to make £2000 a month, you will need to devote around 1-2 hours a day, and £1000 a month will need 30 mins - 1 hour. For £500, 15-30 mins should be sufficient. But you need to use this time efficiently.
This is a long-term consistent basis and you should be able to gain much more but with much more time during the first 24 months.
You can start exploiting free bet from the sign-up offers but the real sustainable big money comes from reload and free bet offers available to existing customers.
Many of the matched betting sites focus too much on the sign-up bonuses, consequently, many players miss such continuous profitable opportunities.
C. Conclusion - The Short-Term & Long-Term
Matched Betting For Dunnies - Why Do We Share This Method?
Allow us to share a bit about our betting policy on this occasion.
We say "avoid prejudice of Betting = Gambling". We do bet but don't count on luck. We do 6 Advantage Plays based on mathematical edge to beat the bookies, casino & bingo.
When it comes to Sports Betting & Horse Racing, we use Matched Betting / Sports Arbitrage / Value Bets On Proven Systems & Tipsters to lock-in profit or consistently earn extra income for long-term. And matched betting is probably the easiest advantage plays.
With that said, one of our policies is "Betting On Luck Is For Losers, Stop Gambling But Bet on Only +EV (Expected Value) To Win Reliably".
We, Global Extra Money (GEM) would like our readers to exploit reliable money-making opportunities as much as possible, which is the reason why we provide you with this guide.
Starting Matched Betting
Suggest you go Matched Betting Instructions Index Page, where you find a list of our all matched betting instructions including the step-by-step guides for all 3 Types of Welcome Offers and 5 Types of Reload Offers.
You will know exactly how to tackle them with real examples. We provide you with various spreadsheets to make all the calculations & implement the tactics Very Easy. Don't Forget All Are FREE.
6 Advantage Plays For £/€/$ 50,000
The core benefits you will get is the Free Program of Make Extra Money £/€/$ 50,000 on The Side Within 2 Years.
You can Use Not Only Matched Betting But Also 6 Advantage Plays to Extract Money from Bookmakers, Casino & Bingo sites based on Mathematical & Statistical Edge.
We have 3 Comprehensive Chapters including Daily Planner for anybody from newbies to seasoned advantage players to follow based on their level.
Access Free Now.
For Ultimate Efficiency in Long-Term
However, once you reach a certain level you may want More Efficiency. The key factors to enhance efficiency are 2 folds of;
- Daily Update of Tens of bookies' Offers
- Instant Identification Of The Best Opportunities
If you're seeking premium matched betting service including sophisticated ACCA software, the below 3 are the current best choices (one of the benefits to using them is 0% Betting Exchange Commission thanks to their partnership with SMarkets, Matchbook & Betdaq. Only with this, you can cover years of their subscription fee.);
- Oddsmonkey – Full Review “Full Inside Analysis Through The Founder Interview“
- Profit Accumulator – Full Review “Should We Believe 20,000 Members’ Earning Claim? “
- Profit Maximiser – Full Review “The Engineer Of Matched Betting Success, Still Good?”
- And – Comparison among 3 premium services
Remember, you can still make the best of our Free Program after you decide to use one of the subscription-based matched betting service because matched betting is just one out of 6 Advantage Plays we cover in our own program.
All the bookmakers we list not only in this guide but also in our entire site are needless to say legitimate and is regulated by UK Gambling Commission or prominent gaming control board such as International Association of Gaming Regulators (IAGR), North American Gaming Regulators Association (NAGRA) & Gaming Regulators European Forum (GREF) etc.
So, basically, they are remote from scum, fraud or any wrongdoing.
However, too many winnings could cause a big headache for everybody such as Bet365 over £1m payout Megan McCann court battle, so Be Modest.
Besides, legitimacy doesn't assure you face any risk. Poor business management leads to company insolvency and you need to know how your money is protected by each bookmaker set by UKGC 3 Levels of Protection.
See the list of over 50 Bookmakers audits on protection level, for your own safety. Just FYI.
If you have any inquiry or need any help from us, please contact us anytime (don't worry, we will not charge you any fee, everything is free here).
Joshua Walker (bio)