Matched Betting For Dummies 2020 – 9 Essential Things You Should Know

matched betting for dummies, feature image

Estimated Reading Time: 39 minutes

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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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.

Tax Exempt

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.hmrc tax exempt

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

Conventional Bookmaker 

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.High Street Betting Shops 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).Matched Betting For Dummies Online Betting Sites

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).  

Bet Exchange

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. 

By using this approach, everybody in the world including US citizens can make decent profits from matched betting technique.

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

Legitimacy

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

Communication with Bet365

It is proven by the below correspondences with Matthew Ha (Bet365);

Joshua GEM
Joshua GEM
What I asked is “I’m planning to do matched betting by using your free bets. Do you accept the matched betting?" I understand you start restricting the players’ account when they play sports arbitrage, so I’m wondering if you apply the same principle to the players who do matched betting. Am I clear?
Matthew Ha
Matthew Ha
Do you mind holding for 2-3 minutes whilst I investigate your query for you? – I can advise that accounts are reviewed and based on your betting certain restrictions can be placed based on this.
Joshua GEM
Joshua GEM
I see. Then, how do you comment on William Hill’s “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"? Doesn’t it apply to Bet365?
Matthew Ha
Matthew Ha
I would be unable to comment on anything William Hill say. I can only advise that accounts are reviewed regularly.
Joshua GEM
Joshua GEM
OK, and the players who constantly do matched betting would be restricted, can I understand like this?
Matthew Ha
Matthew Ha
I would only be able to advise that accounts are reviewed regularly by our trading department.

It clearly implies they do gubbing, and it’s a proven fact that people face account restriction in Bet365.

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;

forums.moneysavingexpert
Click The Image To Enlarge

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;william hill sports welcome offer

  • 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.

Original Theory

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;

Matched Betting Glossary

Key Terms

  • Back Bet (both at bookmaker & exchange): a bet that wins if the selection wins.
  • Commission (at the exchange): the fee paid to the betting exchange, usually on the winning side of a bet. but can be levied on both win & lose
  • FB (Free Bet) & Bonus: bet without risking your own money.
  • Gubbed/Gubbing: account restriction in the form of excluding from offers or limit the maximum stake etc.
  • Lay Bet(only at Exchange): a bet that loses if the selection wins, in other words, the bet on Not Happening
  • Lay Liability: the sum of money being risked by placing a lay bet at the exchange.
  • Liquidity (in exchange): the amount of money available at exchange to back or lay on a market
  • Odds: the number indicating how much money a back bet wins or a lay bet loses if the selection wins. It implies the probability of the outcome. Decimal Betting Odds is used in matched betting.
  • Qualifying Bet: bet that has to be placed with your own money to qualify for getting a free bet or a bonus.
  • Stake, Wager, & Punt: the amount of money that is risked.
  • SNR (Stake Not Returned) Free Bet: free bet that does not include its stake in its winnings. In decimal odds, subtract 1.00 from the odds to calculate how much money you will finally receive when you win.
  • Stake Returned (SR) Free Bet: free bet that includes its stake in winnings. SR free bets usually demand WR (Wagering Requirements) before withdrawals can be made.
  • WR: Wagering Requirement, the condition placed on qualifying bets and/or free bets and bonuses, which include minimum odds and/or rollover requirement

Betting Methods / Technique

  • Mug Bet: normal bet placed with a bookmaker that is not related to an offer. Pretend to be normal and thus protect the account from being gubbed.
  • Standard Lay: stake to achieve an equal profit or loss with both bookmaker and exchange.
  • Overlay: stake a larger lay stake in order to lose less/win more on the exchange than with the bookmaker
  • Underlay: stake a smaller than standard lay in order to lose less/win more with the bookmaker than the exchange.

Betting Type / Market

  • ACCA: Accumulator betting
  • Arb: Arbitrage betting
  • BoG: Best Odds Guaranteed
  • BTTS: Both Teams to Score
  • EW: Each Way
  • FGS: First Goalscorer
  • HT/FT: Half Time/Full Time
  • PALP: Palpable error. Bookies cancel a bet as a PALP when they display the incorrect odds by mistake. For example show decimal odds of 11.0 instead of 1.10.

Horse Racing Related

  • AP: Antipost Odds Usually bets are final and even if the horse is withdrawn from the race you will lose your stake.
  • EP: Early price is usually displayed early on the day of the race. If the horse is a NR the bet is usually refunded.
  • SP: Start price is the back odds of the horse when the race starts. This usually offers the least value especially on a lower odds horse.
  • NR: Non-runner is a horse that has been withdrawn from a race and if the horse is still showing on the list the race result will be subject to a Rule 4 deduction at many bookmakers.
  • RULE 4: Tattersall’s rule 4 applies to non-runner in the listing. The remaining horses in the race are subject to deductions in the odds dependant on the price of the removed horse.

Bookmaker Related

  • 365: Bet365
  • 888: 888Sport
  • BV: BetVictor
  • Bfex: Betfair Exchange
  • BFSB: Betfair Sportsbook
  • Lads: Ladbrokes
  • PP: Paddy Power
  • PPM – PaddyPower Messenger
  • WH or /Hills – William Hill

3. Bookmakers’ 8 Common Type Of Offers for Matched Betting

Broadly 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"
We separately prepare this guide, which summarize 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 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;best bookmakers offer matched betting feature image

 

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;

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.

Free Tools

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;

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;

SMarkets Sign-Up Process with Screenshots
Please follow the below process, which takes less than 10 minutes to complete;

Update & Confirm T&C (Terms & Conditions)

  • Firstly, Go To Smarkets Welcome Offer Page and confirm the availability of £10 Risk Free Sign-Up Promotion (or if you’re lucky you may find a better offer they periodically run via that link)

smarkets £10 welcome offer image

  • Read welcome bonus T&C. I know it’s a boring stuff but never try to save time by skipping it to avoid any unpleasant future surprise;

smarkets £10 welcome offer t&c

Simple Sign-Up By Filling Information

  • After confirming the availability of the offer & reading the T&C,  click “SIGN UP" button;

smarkets £10 welcome offer sign up

  • Fill-in the required information related to Account, Personal Information & Deposit;

smarkets sign up page image

A Few Key Points

  • For the deposit method, Skrill & Neteller deposits are not eligible for the £10 bonus.
  • Account Verification. You will receive the below e-mail to verify account. Suggest you do it as quickly as possible to prevent any future transaction delay;
    Bet Exchange SMarkets ID Verification
    Click To Enlarge
  • That’s it. You’re now ready to place lay bets to construct matched betting once you sign-up the bookmakers.
  • If you are not familiar with how to start matched betting, see how to place qualifying bet.

How To Extract Cash From The Offer?

As said, SMarkets signup offer is probably the easiest one. Because you don’t have to do anything. SMarkets will refund your first £10 loss. Yes, even you win thousands of £ before you lose £10, SMarkets will refund that first £10 loss. So, just keep doing the matched betting, and whenever you lose £10 for the first time in SMarkets, you will be refunded, and as you’re aware it’s your profit.

Sky Bet & SMarkets - Step By Step Matched Betting Process with Screenshots

Before Sign-Up, T&C, T&C, T&C —

  • Firstly, read both bet exchange (again to ensure you follow everything required) & bookmaker sign-up bonus T&C. Allow me to reiterate that it’s a boring stuff but never try to save time by skipping it to avoid any unpleasant future surprise. They can change & update T&C anytime, therefore it’s essential to follow their latest guideline. Some of the key points are; Minimum Odds (1.5 Over etc.), Device (via PC, Mobile etc), Deadline (by when such as within 7 days after deposit), and as said in the Sign-Up process, Deposit Method (often Skrill / Neteller deposit is not eligible for the sign-up offer) etc

Sky Bet Sign-Up

  • After reading the T&C, start registration by clicking “Join Now";sky bet offer, new sign up bonus
  • No-brainer, just fill-in your personal information as usual sign-up form;
    Sky Bet Offers Registration First Screen
    Click Image To Enlarge
    Sky Bet Offers Registration Second Screen Sky Bet Offers Registration Third Screen
  • Finally Deposit page, you need only £5 to deposit for the qualifying bet though, suggest deposit at least £10 to be seen not a bonus hunter but a casual bettor;
Sky Bet Offers Registration Deposit Screen
Click To Enlarge
  • After you complete the successful registration, you will receive the confirmation e-mail as below;Sky Bet Offers Successful Registration Email
Account Verification
  • If you are required to verify your account, do it as quickly as possible. Sky Bet says “We need Proof of ID (Passport/drivers license) and proof of address dated within the last 3 months (utility bill/bank statement). You can email these off to docs@skybet.com and we will look to get your account verified in 24 hours."

Now, Time To Start Matched Betting – Find Sports Event & Calculate

  • Go Free Odds Matcher to look for the appropriate (means the tightest odds gap between Sky bet & SMarkets) sports event. You chose Sky Bet as a bookmaker;
    Sky Bet Offers Oddsmatcher Bookie Selection
    Click To Enlarge
Odds Selection Tactics – Qualifying Bet
  • For the qualifying bet (means not free bet but your own money), the Shorter (means smaller) the better. Because the shorter odds usually allow you to find narrower gap between bookmaker odds & bet exchange lay odds, thus better profit. Sky Bet requires minimum 2.0 odds. So just use filter function to set something like 2.0 – 6.0 (you can set the highest as you want) and select the event.

sky bet offers, odds matcher set  

  • The oddsmatcher displays the list as below;
    sky bet offers, odds matcher table
    Click To Enlarge
  • The best event (means, the narrowest odds gap between Sky Bet & Bet Exchange) is Fontwell horse racing at 15:45, Puppet Warrior. So, let’s check if these odds are still available in both Sky Bet & SMarkets.
  • Unfortunately, Sky Bet already reduced the odds from 2.88 to 2.75;
    sky bet offers, puppet warrior odds
    Click To Enlarge
  • However, SMarkets lay odds also lowered;
    sky bet offers, smarkets puppet warrior odds
    Click To Enlarge
  • The odds always change like this, so don’t worry. What we do is to see if the updated odds are still worth by changing the lay calculator (it appears when you click “i" icon at the right end of the event in the oddsmatcher table) manually as below;
    sky bet offers, lay calculator
    Click To Enlarge
  • The calculator indicates that with the new odds, our qualifying loss will be 12p, 2.4% loss, no matter our horse Puppet Warrior wins or loses, which is acceptable level.
  • So, all you need to do is to follow the calculator. Namely, back £5 on Puppet Warrior at 2.75 at Sky Bet while laying £4.98 on the same horse Puppet Warrior at 2.78 at SMarkets.
  • The race result doesn’t matter though, the final result is;

sky bet offers, qualify bet result Just FYI.

Odds Selection Tactics – Free Bet
  • After setlling the above qualifying bet, Sky Bet will give you £20 Free Bet.
  • Now, all what you need is to repeat the process of back & lay that we just completed. However, when it comes to the odds, unlike the Qualifying Bet Case, the Longer (means larger) the better because your free bet will not be returned when you win. This type of bonus is called SNR – Stake Not Returned (see further details), and free bet is usually SNR.
  • So, let’s set the odds range, say between 6 – 15;Sky Bet Offers Oddsmatcher Odds Filter Set
  • You can always find a list of the candidates as shown below. Let’s see the top 2, which are both horse racing of Lingfield, “Goodbye Lulu" & Kempton “Royal Birth". Although Lingfield one is positioned the best but it’s based on SR (Stake Returned, means normal betting case). But, we’re using Free Bet that is SNR (Stake Not Returned). Therefore the 2nd one of Kempton of which odds is longer, must be more appropriate choice (See the calculation later).
    sky bet offers, fb event search
    Click To Enlarge
  • You click “i" mark at the right end, which will navigate you to the screen highlighting the action. That is Backing “Royal Birth" at 10.00 in Sky Bet and Laying off “Royal Birth" at 10.50 in SMarkets;sky bet offers fb calculator summary
Automated Calculation
  • You click yellow “Calculator" mark, which will navigate you to the calculator below;
    sky bet offers, fb better calculation
    Click To Enlarge
  • Actually, it gives you everything you need to know. Although the necessary inputs are automatically done, you need to chose Stake Not Returned mode at the right top since it is a Free Bet (default mode is Qualifier, so you have to change manually).
  • The key inputs you need to double check are; Stake £20 in Sky Bet. Back Odds 10 & Lay Odds (in SMarkets) 10.05. Commission, Sky Bet 0 but SMarkets 2%. Then, the calculation says you need to lay £17.18 at SMarkets, and your final profit will be £16.83 regardless of the outcome. Means no matter “Royal Birth" wins or loses, you will earn exactly £16.83.
If Chose The Top Rated Kempton “Goodbye Ludu"
  • If we chose the Kempton “Goodbye Lulu", the final profit is £15.90 that is lower than £16.83;
    sky bet offers, fb worse calculation
    Click To Enlarge
Note – Lay Liability
  • Although, the longer odds is preferable to achieve better profit for Free Bet case, we need to be careful for Lay Liability. The longer the odds, the bigger the lay liability is. In the above case, laying “Goodby Lulu" requires £94.10 but “Royal Birth" need £163.17. So, if you don’t have enough balance at exchange (Smarkets), choosing “Goodby Lulu" is an optional approach.
  • For this particular issue of lay liability, The Best Lay Betting Strategy To Reduce Exchange Commission & Liability will be of your help.

Placing Bets

  • Now, we will construct the matched betting by placing the stake both in Sky Bet & SMarkets. Firstly place bet at Sky Bet. Remember, you should place the bookmaker’s bet first, this is an important theory (don’t think too much at this stage just follow this principle, you will know why in due course). So, go to Sky Bet, confirm if the odds is still 10.00. If it changes, you need to recalculate the lay stake & profit by just updating the number in the calculator. You can change manually very simple. If it’s 10.00, then place £10 on “Royal Birth";
    sky bet offers, fb odds
    Click To Enlarge
  • Then go to SMarkets. The same practice. Confirm if the odds is still 10.05. In SMarkets (basically more or less the same among all bet exchange), there are 2 parts of Blue Colour (right side) & Green Colour (left side). You need to Chose Blue Colour for Lay. Green colour is Backing. In bet exchange, you can also back, but at this stage I don’t want to confuse you, so just remember you chose Blue to lay;
    sky bet offers, fb lay odds
    Click To Enlarge
Final Profit
  • That’s it. Just wait for the outcome. The below shows the final profit no matter “Royal Birth" wins or loses;
  • Qualifying Bet: (-12p) Loss
  • Free Bet: £16.83 Profit
  • Total: £16.71 Net Profit

Actual Result

  • Do you want to know the actual result of the race?
    sky bet offers, fb event result
    Click To Enlarge
  • So “Royal Birth" didn’t win but finished at 2nd, anyway you will not be bothered by any results, just FYI.

If it’s your first betting experience, you may take 10 minutes each for sign-up SMarkets & Sky Bet. And took probably 30 – 40 minutes to complete the whole matched betting process (both qualifying bet & free bet). Or I would say you’d better take enough time to avoid careful mistake. After you construct a few matched betting, you should be able to finish the same process within 20 minutes. The important thing is to keep doing and your efficiency will be improved exponentially.

When you finish Sky Bet offer, complete the following offers which basically works the same as Sky Bet case

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.sitting bench calm extra money 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
If you want to make extra money seriously from matched betting (say over £1,000 every month on the side), you may want to consider Matched Betting Premium Subscription Services. The top 3 in the industry are Profit Accumulator, Oddsmonkey & Profit Maximiser. One of the benefits to use 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. When it comes to which service you should take, check our Comparison of these 3 services & software, which will help you decide the best fitted one to you.

Note;

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).

Good Luck!! 

Joshua Walker (bio

Editor - Global Extra Money (GEM)

Posted by Joshua