No Risk Matched Betting Starting Guide (1) – Welcome Bonus How It Works

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Estimated Reading Time: 19 minutes

Have you ever heard about No Risk Matched Betting? Just Thought “Not For Me" because It’s Gambling? No, No, It’s Not, It’s Effectively Profit Guaranteed Legitimate Surebet, Well Over 200,000 Ordinary People Make Extra Income From It!!

Firstly, Avoid Prejudice of Betting = Gambling. We Do Bet but Don’t Count On Chance. Instead, we do 6 Advantage Playsadvantage play, keyboard based on mathematical edge to beat the bookies, casino & bingo. When it comes to Sports Betting, we use Matched Bettingsports matched betting, full guide / Sports Arbitrage / Value Bets On Proven 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 Gamble Betting But Bet on Only +EV To Win Reliably“. And it is effectively our way to promote Responsible Gambling, and we strongly support GamCaregamcare logo being explained in about us.

We, Global Extra Money (GEM) would like our readers to exploit those reliable money making opportunities as many as possible. Producing the series of basic guide for No Risk Matched Betting is part of our efforts to achieve that vision.

No Risk Matched Betting Preface

Allow me to reiterate that No Risk Matched Betting (or Free Matched Bet & Risk Free Betting etc. all are basically the same) is a Sports Betting. However you aren’t gambling here. Let me quote Wikipedia as;

Mаtched bеtting (also known as back or lay bet matching, or double bеtting) is a bеtting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance.

Yes, you’re not hoping that an event you have bet on will fortunately happen. As briefly said, we GEM don’t talk about gambling but Advantage Play. It is the act of legally exploiting procedural or structural weaknesses in some aspect of bookmakers’ operations in a way that generates an edge over the bookmakers. No Risk Matched Betting actually has very little to do with events.

2 Opportunity Stages

Simply put, you make money from No Risk Matched Betting in 2 stages as follows;

  • ) Bookmakers’ New Customer Offer (Welcome or Initial Sign Up Bonus)
  • ) Bookmakers’ Existing Customer Offer (Reload Bonus)

Many people often misunderstand that no risk matched betting is all about I). Then they finish after raking all bonuses from bookmakers while not recognizing the huge potential from II). Generally speaking (depending on your commitment though), with I), you only end up with several thousands £ within a few months. However if you continue with II), you may expect £1,000 every month with say less than 30 minutes – 1 hour/ day effort.

Our Matched Betting Starting Guides

So, as a starting guide, I’ll focus on I), Bookmakers’ New Customer Offer. Please be noted that this report is the 1st part of 3 series, so after you finish reading this report, suggest you move to;

Actually, these Starting Guides (1) – (3) focus on Real Practice, therefore very specific instructions. If you want to know the overall picture, theory or say all about Matched Betting, access to the below Report for Dummies first;

OK, then, let’s start;

No Risk Matched Betting Guide (1) – Know Basic Logic & Type of Bonus

Bookmaker Sign-Up – CAUTION

Before forget, allow me to caution you 1 important thing. Needless to say, you need bookmakers’ accounts to do matched betting. All online bookies are in fierce competitive situation thus advertise tasty offers to attract your sign-up as we elaborate later. Don’t sign-up directly with bookmakers before checking the availability of Cashback Offer, otherwise you may waste hundreds of £ risk-free cash. Make sure you access to our instruction of Betting Cashback Websites – The Ultimate Guide To Be Always Better Offbetting cashback, feature image, before opening any bookmakers’ account (the document shows you how to collect £2,500 cashback all together).

Fundamental Logic – Risk Free

Theoretically, there is no risk involved based on the same theory as Sports Arbitrage【 Is Sports Arbitrage Really 100% Risk Free Sure Bet?】Special Report by GEM Surebet Sports Arbitrage 100% Risk Free As Extra Money Opportunity Because you are covering yourself by betting for and against the same event. However the risk comes when human errors are made. Therefore you need to double-check everything and follow the exact process instructed here.

The no risk matched betting is placing a bet with the bookmaker & eliminating all of the risk by placing an opposite bet with the exchange to scalp all bonuses effectively. Yes, the Bonuses (often given in the form of Free Bets) are your Profit Source in the matched betting. Because in the above back & lay transactions, when you use the bonus (free bet) as the back bet at bookmaker, offsetting the 2 bets result in the Earning of Free Bet value. In the real practice, the back & lay don’t usually cancel out perfectly due to the odds difference & the exchange commission. Thus you incur a marginal loss. So to be precise (the free bet value – marginal loss = your final net profit). You will find more about this rationale in the Bonus Type (SNR & SR) later.

Back & Lay

In this technique, we use “Back” & “Lay” terminology, thus firstly, let’s make these terms clear as follows;
– Back bet (or just a “bet”): bet on something to happen – this is the bet you usually place through conventional Bookmaker
– Lay bet: bet on the same thing NOT to happen – this is the bet you place through Betting Exchange. In arbitrage trading, we normally do this with other bookmakers. In the event with multiple outcomes such as football – Win / Loose / Draw, you need to bet both Loose & Draw for “Not Win” in usual bookmakers. However, in exchanges, you can cover “Not Win” with 1 single bet. Simply put, you become a bookmaker position when you lay in exchanges.

The below image shows the largest exchange Betfair’s odds table. Betting Exchange is like Stock Exchange, namely Market Place. People don’t bet against Betfair but bet against Each Other. You can offer both back & lay and when any other punter likes your offer, the bets are matched. Yes, your lay bet will be backed by someone else at the odds (price) you offer. Or we may say you accept being against, means Laying some backer’s stake & odds. If the 2 parties don’t agree the stake & odds, the bet will be UNMATCHED.

No Risk Matched Betting Starting Guide (1) Lay Explanation
Click To Enlarge

Allow me to repeat how the matched betting works. You place a bet on particular result occurring with the bookmaker (Back) and a second bet placed on the same result not occurring at the betting exchange (Lay). The latter is required to offset any loss in the event that the result does not occur, for instance, if a team loses. Yes, this is a Hedging.  As briefly mentioned, no matter which result occurs, there will always be a guaranteed profit because the bet you place at the bookmaker is Not Your Money but Free Bet. The mathematics of the matched betting means that the profit made is identical, regardless of the final result.


Type Of Bonus

 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"

For 1. it’s by far the most popular welcome bonus used by UK / Europe bookmakers often claimed like ‘Bet £10 Get £30 Free Bets’ etc. See the below Paddy Power;Paddy Power Sports Home PageUnder this offer, you have to make Bet called Qualifying Bet first before you receive free bets. We give you the specific instruction in the guide (2) by using William Hill real example.

For 2, it’s Risk Free Bet or Lose Refund. This is “If your 1st bet loses we will refund up to £30" as seen from below Dafabet; Dafabet Loss Refund BonusMany people struggle how to do matched betting for this type of bonus. However, there is a Lock-In Profit method, very simple one. For the specific instruction, go to How To Profit-in Risk Free Bet (Refund Lose Bet)Special Report by GEM Risk Free Bet Lose Bet Refund

For 3, it’s extremely popular among Caribbean / Asian bookies and has been increasingly popular in the UK, Europe as well. It is usually advertised like ‘Welcome 50% Matched Bonus up to £200’ etc as seen in the below 10Bet;10bet-sportsbook-promotion-offerYou will get your bonus usually instantly after you make the first Qualifying Deposit. However you need to make bets called Settled Bets based on the number of Rollover (or Turnover) required before you can make a withdrawal. This is often expressed as WR (Wager Requirement, originally used in Casino bonus).
We give specific instruction by using Bet365 example in the guide (2) and full instruction of Technique To Secure Profits from Betting Signup Offers – Bonus WR (Wager Requirements);Betting Signup Offers Underlay Technique To Secure Profits from Betting Signup Offers - Bonus WR (Wager Requirements)

Two Different Stake Related Bonus & How Your Profit Works

You need to know ;

  • SNR – Stake Not Returned Bonus (represented by Free Bets)
  • SR – Stake Returned Bonus (represented by Deposit Bonus)

Generally speaking, you can secure at least 70% return from SNR and over 90% from SR with 100% risk free. Because you’re using free money viz. a portion of the free money offsets any potential losses and betting exchange commission.

Let me explain how the whole process works by using where you can find $300 – $500 (depending on the promotion) welcome bonus.
I use this World Leading On-Line Bookmaker located in Costa Rica as an example for the bonus explanation. Because Matched Betting is often believed to be exclusively for UK / Ireland players. However, actually there are so many bookmakers providing generous bonus globally. As long as you live in the countries where the exchange such as Betfair operates, you can make decent profit from this strategy. Simply, my intention of picking Costa Rica bookie here is emphasizing global opportunity of the matched betting.

Bonus Offer & Note

In the, you receive maximum $500 free money to bet after you deposit. Unfortunately, you can’t withdraw $500 bonus before making certain betting called rollover (or turnover) requirement. In this case, they require 4 times rollover (this rule is changeable). Means bet 4 times the deposit + bonus. Some bookmakers ask for more rollover. Clearly hefty rollover requirements create problems for casual bettors. The bookmakers rely on the fact that the vast majority of their customers end up losing both their deposits and their bonuses way before they become eligible to withdraw the original bonus part. However, you as a smart punter can turn this bookie’s maneuver into advantage.

(See (2) & (3) guide for the comprehensive Instruction of the whole process,)

The actual offer of is a Deposit % Match Bonus, which is B) SR – Stake Returned. However, I created a hypothetical SNR as the below A) for the sake of comparing the SNR & SR. Namely, in order to compare how the matched betting are constructed in each type of the bonus and how the final profits are affected. Besides, SNR usually doesn’t require any heavy Rollover but often 0 or x1 or 2 at the most. Just FYI.

A) SNR – Stake Not Returned Case

Assuming $500 free cash is SNR, if your bet loses you get nothing exactly like normal lose situation. If it wins then you do not receive the initial stake back but receive only the winnings hence it’s called Stake Not Returned. This is based on the viewpoint that your initial stake of free bet has no real value although it’s considered as a qualified bet. Here just give you the concept how the matched betting process works while explaining the impact of 2 different bonus type.


You can scalp this bonus without risk. As briefly explained before, all you need to do is constructing the Matched Betting with “Back” (via Bookie) and “Lay” (via Exchange) bet on the same event by matching the Odds. Means finding similar odds on the same sports event in bookmaker and exchange and bet both simultaneously.

You can find such similar odds by using Free Odds Matching Software like below;

No Risk Matched Betting Starting Guide (1) Oddsmatcher
Click To Enlarge

By doing so, you will have covered all possible outcomes (Team wins | Team does not win). If you stake your bets correctly whatever the outcome of the match you would not lose any money because the bets would cancel out each other.

Importantly, you need to take into account the fact that you will not receive the stake back. Because this is SNR (this is the difference from the next SR – stake returned bonus), means theoretically return is slightly lower than the case of SR.

Therefore, in order to maximize your return, you may want to find a bet at your conventional bookmaker with high odds. Generally, the higher the odds, the better your end profit will be.

Example A

You get the qualified $500 free bet in Say, you find Draw on Chelsea vs Manchester United football game at the odds of 4.0. And place $500 free bet on it, which will give you the total return of $1,500. $500 x 3 only, without your original $500 stake back since it is SNR if the draw occurs. Next, you need to find a lay (Not Draw) at the same 4.0 odds in Betfair(exchanger) to secure the profit regardless of the result. However, don’t forget the fact your bet in Bookmaker is SNR. Thus if you lay the same stake of $500, your profit will be 0 in case the draw occurs.  Net Gain $1,500 will be wiped out by $1,500 Betfair Net Liability.

So, you should lay smaller stake than $500, say $380, then the possible scenarios are:

Draw Occurs

  • Receive $1,500 in
  • Pay $1,140 to the opposite punter in Betfair
  • Net Profit $360

Draw Not Occur

  • Loose $500 free bet in but your real loss is 0
  • Receive $380 your opposite punter’s stake in but need to pay $19 of 5% commission to Betfair
  • Net Profit $361

So, you can expect the return of $361 (72% return = $361 / $500 free bet x 100%) regardless of the outcome in this case. In other words you secure the minimum 70% return. Bear it in mind, if you don’t do this matched betting, your result will be either $1500 profit or $0 as a usual gamble. The gambling doesn’t secure any profit but simply count on chance / luck, just for your information.

Now you may wonder how to calculate Lay amount, don’t worry you can use Free Matched Betting Calculator like the below one provided by Bonus Bagging. The detail process will be fully explained in the (2) & (3) guide. No Risk Matched Betting Calculator Bonus Bagging Free

B) SR – Stake Returned Case

Next, let’s calculate SR (Stake Returned) case. Again, all you need to do is the same Matched Betting then you place bonus as a back bet with and a lay bet with Betfair on the same selection. The only difference and good thing with SR is that they do include their stake in returns, thus the lay stake can be almost the same as the bonus stake, which will ensure you better return.

Example B

Assuming the above $500 is SR. Let’s use the same above odds. Draw on Chelsea vs Manchester United football game at the odds of 3/1 (4.0). You place $500 free bonus bet on it, which will give you the total return of $2,000 ($500 x 3 + $500 as your original stake since it is SR) if the draw occurs. Next, you need to find a lay (Not Draw) at the same 3/1 (4.0) odds in Then lay $500 (rather than the previous case of $350) to secure the profit regardless of the result. Now, the possible scenarios are:

Draw Occurs

  • Receive $2,000 = $1,500 winning + $500 original stake in
  • Pay $1,500 to your opposite punter in Betfair
  • Net Profit $500

Draw Not Occur

  • Loose $500 free bonus in but your real loss is 0
  •  Receive $475 ($10 as 5% commission to Betfair is deducted) in Betfair
  • Net Profit $475

So, you can expect the return of $475 (95% return = $475/$500 free bet x 100%) in this case. In other words you secure the minimum 95% return. Overall, much higher return than the case of SNR, because you don’t need to lower your lay stake.

As said, you don’t need to calculate the optimum lay stake & profit manually, but use Free Calculator which will do everything for you. But the purpose of the above explanation is enabling you to understand the fundamental logic & SNR / SR calculation rationale behind the matched betting. 

Key Results & Implications

When the Rollover is required (as said, it’s often expressed as WR – Wager Requirements), which you face in SR case;

A) If you win in the bookie, you still can’t withdraw your bonus yet at this stage. But you effectively progress the rollover requirement and keep repeating the same practice until you finally fulfill the requirement or move to B)

B) When you lose in the bookie, you effectively transferring the free money to the exchange where you can withdraw without any strings attached.

C) The lower the odds, the more probable to progress A) than B) due to simply more chance on successful back than lay.

D) You can optimize your risk by controlling your lay stake amount in Exchange.

E) The higher the odds, the higher your return – but don’t forget you need to have sufficient fund in Exchange to cover the liability.

F)If the bet produces arbitrage opportunity, you can expect much higher profitability. As a final note, no risk matched betting doesn’t necessarily require Lay Bet in Exchange. You can construct among Bookmakers with Back and Back. It’s known as Dutching Betting, which you will find the full details in Dutching Betting – Awesome Technique To Win More & Reduce Risk;Dutching Betting Technique To Ensure Profit

Continue to Free Matched Bet Starting Guide (2) – How To Place Qualifying Bet

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

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