Matched Betting For Dummies 2020 – 9 Essential Things You Should Know
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Full Guide of Matched Betting for Dummies, Learn How To Extract £1,000 Every Month From Bookmakers With No Risk, Very Easy!!
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- 1. Matched Betting For Dummies – Why Do We Share This Method?
- 2. A. Matched Betting – Real Basics
- 3. B. Matched Betting – How it Works
- 4. C. Conclusion - The Short-Term & Long-Term
Matched Betting For Dummies – Why Do We Share This Method?
Firstly, please 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.
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". It is effectively our way to promote Responsible Gambling under the regulation, and we strongly support GamCare & GambleAware being explained in about us.
We, Global Extra Money (GEM) would like our readers to exploit those reliable money making opportunities as much as possible. Matched Betting is probably the easiest advantage plays and this dummies guide aims to provide you as a matched betting newbie with a-z of matched betting.
Matched Betting For Dummies – Financial Adviser’s Story
As the opening up of Matched Betting for Dummies Guide, let me quote the article of Matched Betting 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
The core message we want to convey at the beginning is 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. In fact, over 200,000 ordinary people in the UK & Ireland are said to use matched betting to earn extra money regularly.
Since you came to this Matched Betting for Dummies guide, I assume you have not started or are pretty new to it. Obviously Better Late Than Never!! You will find Everything You Need To Start & Make £/€1,000 Every Month On The Side in our site (see matched betting guide index). This special guide gives you the basic information & navigate you to the proper information to achieve your target.
BTW, Matched Betting is No Risk, but yet categorized in Gambling, and in the UK & Ireland, any winnings from gambling are No Tax. Even you are considered as Professional Gambler who rely on gambling for living, you will be exempted from taxation, which is clearly defined by HMRC Internal Manual – Meaning of trade: exceptions and alternatives: betting and gambling – professional gambler.
For 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 With 3 Advantage Plays, which I explain a bit later.
A. Matched Betting – Real Basics
1. Conventional Bookmaker & Betting Exchange
Although it’s not a gambling but still a Betting. And you bet on Sports Events at Bookmakers, like William Hill, Ladbrokes, Paddy Powers etc. Yes, the betting shops 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 are 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 go through cashback sites you may receive both bookies’ own welcome bonuses & cashback (usually big operators like Bet365, PaddyPower, Ladbrokes & Corals are listed).
In the matched betting, on top of the bookmakers, we need Betting Exchange. You may have heard the name Betfair. Yes, Betfair is the inventor of the bet exchange. A betting exchange allows you to bet against each other rather than against a bookmaker, so it’s a market place like stock exchange. You bet on Win (called “Back Bet") at conventional bookmakers, but in the bet exchange you can bet NOT Win (called “Lay Bet"). The lay bet is for example in Football, betting on both draw & 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 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, basically 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 Be Workable?
One of the most popular questions we receive are “Can I make money from matched betting in my country?" or “What about matched betting USA, is it profitable?" In this guide, I mainly use UK & Ireland examples and £ (& €) as a currency unit since matched betting is very popular in the UK & Ireland. However, 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 bet exchange". No worries, you can use Bet Broker where you can bet at exchange via their API or special platform. However, strongly suggest you read Honest Opinion About Bet Broker & How To Use Them Safely & Smartly, because this is the area you need to make careful risk-management.
For searching betting exchange alternative options, check Betfair Alternatives For People Who Can’t Access Or Seek Better Options, where you will find the white label of Betfair (means everything including market coverage & liquidity is identical to Betfair). For those who even can’t access to these bet brokers, the solution is Bitcoin Betting Sites (both sportsbook & betting exchange), for full details, take a look at Bitcoin Betting – Ultimate Way To Lock-In Profits From Anywhere In The World.
3. 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
Not Effort Free
Most of the sites that introduces 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 matched betting money saving expert cautioned. Actually, it’s one of the safest & quickest ways to make real money. Betting is male oriented image, but a lot of female 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 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 In A Nutshell
Let me show you a very simplified explanation for you to understand the process of matched betting;
- The organizations you use: Bookmaker such as William Hill & Exchange like Betfair
- The profit source; Bookmaker’s Free Bet Offer such as William Hill sign-up offer of Bet £10 Get 30 Free Bet as seen above
- You Do 2 transactions; Back (bet on win) £10 at William Hill & Lay (bet on NOT win, means both lose & draw like the case of 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 the 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 William Hill. 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.
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 the 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 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 BettingBroadly speaking, we can split the bookmakers 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.
3 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"
Five Common Type of Reload Bonus for Existing Players
There are 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 lose 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 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
The matched betting is all about placing a bet with the bookmaker and then eliminate all of the risk 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 are 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 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 is 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!!
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 & 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 a 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
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 the real examples. We provide you 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 program of Make Extra Money £/€/$ 50,000 On The Side Within 2 Years - Amazing Free Program. 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. See further brief explanation at the bottom of this report.
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
All the bookmakers we list not only in this article but also in our entire site are needless to say legitimate and being 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 wrong doing. However, too much winnings could cause a big headache for everybody such as Bet365 over £1m payout Megan McCann court battle, so Be Modest. Besides, legitimacy is not necessarily no 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)