Our 2020 Matched Betting Guide
In this module of matched betting basics, we are going to answer some of the basic questions, such as: What is Matched Betting, How much I need to start, Is it profitable and more.
Matched Betting Guide FAQ
The majority of people which are new to matched betting or any form of betting in 9 out of 10 times are going to be confused, sceptical, nervous and unaware of the mechanics of this sports betting technique.
Our purpose is to bring light and knowledge into everyday individuals life. If you are willing to try and have an hour to spare, we can go together through our beginner’s guide to learn what matched betting is, how it works and if is profitable or not.
Matched betting is a low risk form of gambling, typically on sporting events; known also as ‘no-risk betting’. The principal is to use free bets and other promotions in your advantage so you can make a profit. The catch is that you need to have all the outcomes of a match covered.
Wikipedia is defining matched betting as: “Mаtched bеtting (also known as back bet matching, 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. Moreover, matched betting is considered risk-free as it negates the liability of the bet by laying the same outcome. ”
A simpler explanation, it is a betting strategy that maximises your potential profits from bookmakers free bets and welcome bonuses by backing & laying the outcomes of your chosen sport event.
The most simple explanation you need to know to do matched betting is the difference between back bets and lay bets.
The ‘Back’ Bet – is the most traditional form of bet, essentially you’re supporting your team, horse, or whatever else, to win. If that happens, your bet is valid and you win a profit.
The ‘Lay’ Bet – is the exact opposite to a back bet, where you are now saying “I don’t think my team will win”. If the team that you bet on doesn’t win the match, you win your lay bet. What if was a draw? You win because your team didn’t won. In other words your lay bet is a win.
Matched betting works by using lay bets to cancel out any risk that a back bet poses. Basically, you back and lay against the same result in order to remove all risk by covering all the outcomes. However, the part where you make a profit is from a bookmaker’s free bet.
Matched betting seems complicated and difficult at first, but once you understand the basics becomes quite easy to make a profit.
This is one of the reasons why is the first go-to choice of stay-at-home mums, students or for everyday worker to earn an extra income online. With just one or two days of getting into the swing of things you will be prepared to scale up your risk-free betting strategy.
For example purposes, we are going to use bookmaker-example.com, which is promising you a £25 free bet if you deposit and place a bet of the same £25 stake with their site. You sign up, deposit the £25, and bet on Chelsea to win at odds of 2.0 (as matched bettors always use decimal odds).
Next, you then go onto a Betting Exchange software such as Betfair or Smarkets, and LAY Chelsea (that’s betting on Chelsea to NOT WIN) whose lay odds are 2.02. Using a lay betting calculator (we have one on Everyday Betting), we simply input the information we already have to calculate what our lay stake should be.
All we need to add into calculator is information we already know: our stake of £25, our back odds of 2.0 and our lay odds of 2.02. And of course the commission for the Betting Ex Software, which in this case, we used 5%.
As we can see from the calculation, ‘you could lay £25.38’ – meaning: your lay stake is £25.38. It also says that your liability will be £25.89 – liability represents the money you risk if the result goes against you.
But, in case you lose at the exchange then you win at the bookmaker. We therefore need at least £25.38 in our Exchange Software to lay the qualifying bet. In conclusion, we are going to lose £0.89 (even if we win on Lay Bet or Back Bet).
This loss is called a calculated loss (qualifying loss) , which will be recovered when our free bet is placed.
As before, using the same principal of laying and back betting, we are going to use our bookmaker-example.com promotion: £25 free bet.
You decide to place this bet on Leeds to win at odds of 5.0. The lay odds happen to be 5.2.
Again using the matched betting calculator, we change the calculator mode, from ‘Normal’ (which is used for qualifying bets) to ‘Free Bet (SNR)’. You’ll put in your free bet stake of £25 as well as your odds, and calculate the stake you need to LAY against Leeds.
If Leeds WIN, you’ll win £100 on bookmakers-example.com and lose £81.56 on Betting Exchange. Resuming, £100 – £81.57= £18.44 profit. If Leeds draw or lose, you’ll fail to win your free bet, but you’ll win your lay of £19.42 on Exchange. Even after you deduct the commission from bookmaker or exchange software you’ll have won approx. £18 in a single bet.
Scale this up to 3 ,4 bets per day and you are going to have a nice profit each week, respectively each month.
Is up to you how much time you want to put in every day. In the industry, most people are saying that they spend between 15-60 minutes on matched betting per day. So, the outcome is direct proportional with the income. The more time you put in, more you can earn.
As thumb rule, you probably need around 10 minutes to get one bet on. Let’s say the average profit from offers you complete is £10. This means you have a potential earning of £60 an-hour. And all is tax free. To be more accurate and to have a real feel on how much you can earn per hour, we recommend keeping track of your time in and profit you make. The more practice you have, the more efficient you’ll become; therefore higher hourly rate.
Due to the rise in competition between bookmakers, such as William Hill, Bet365, Paddy Power and many more run promotions in order to try to attract new and repeat customers. Their promotions prove to be very profitable for them, so they’re constantly adding more and more to their sites each week, respectively month.
The more promotions there are, the more profitable matched betting becomes. However, bookmakers don’t really ‘allow’ it. So, at the beginning, they can’t stop you doing it, but one day they will have enough information about your behaviour to decide they’ll no longer take your bets. Most of matched betting “connoisseurs” have been banned at least once from most of bookmakers sites.
Matched betting has been quite a unknown thing for an everyday user. Most of them, think is a scam or are to skeptical to look into it.
It is is entirely legal as per 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.” [see full article here]
Matched bettors make a profit regardless of the outcome of any sporting event; you can say is a free risk gambling form. However, are some risks involved. We are talking about human error, so ensure you follow instructions and double check your stakes at all times.
The majority of people are sceptical when they first hear of matched betting. Everyone is sceptical when they are trying new things, especially when money are involved.
However, in last couple of years, the awareness for this type of betting increased.
As more and more people try it out, more people learn how profitable actually it is and 50% of people will share it with their friends and family. This helps more people to become educated about the process and its legitimacy via word of mouth.
There are currently tens of thousands of people in the UK that are actively matched betting every month. Our collaborators, such as Profit Accumulator and OddsMonkey have been opening accounts in last 5 years for more than 40,000 users.
Like a new matched betting beginner, it took me a reasonable amount of time to really do the research and actually get started because I was such a non-believer.
The basic principle of it is this: Because you are covering all of the outcomes in a sporting event, you can’t lose.
When you’re using a free bet, you are using someone else’s money (i.e. the money of that bookmaker). As soon as you have a free shot at covering one of the teams, horses, etc, the very simple maths works in your favour -you lock in a profit as soon the free bet is available.
So no, it’s not a scam. Try it for free by following our guides and using our collaboration with the biggest players in the industry.
Matched betting falls under the category of ‘gambling’, which in UK is classed as 100% tax free.
Most of people don’t have a lot of money set aside for such investments, especially when we are talking about betting. Therefore the starting budget is most of the time relatively a small budget of £100-£250. The smallest figure you can probably start with is £80-£90, but we would recommend £100-£120.
At this level of budget, you’ll have the flexibility of completing one or two offers at a time, and you can easily turn this into a healthy bankroll down the line. Personally, we were confident in our finances and had become convinced of the method, so we started off with about £200, before reinvesting the profit.
Matched betting is not going away too soon, as long as the bookies & casinos are still offering free bets, welcome sign up offers or any kind of bonuses.
However, you would expect to be much harder or to be stopped completely giving that the bookmakers are aware of matched betting for years. But, as we know, each year they bring new offers on to capture the new customer and to keep the old ones on their platforms.
So, matched betting still works in 2020 and we doubt that will die too soon.
Matched betting doesn’t affect your credit rating in any way, because a betting sites will do the most a “soft search”.
The Guardian article explains how “the bookmakers are not sharing any account data with any of the credit reference agency, such as Experian and the credit score and ratings are results of whether your account is kept in good order or not and the transaction type is not bearing a weight”
Matched Betting can be done relatively easy with the right attention and using the correct tools and resources. We are dedicated to help you gaining the right confidence and the right guidance.
We do that by offering you our free matched betting guides and easy to follow step-by-step tutorials into how to apply more advanced matched betting techniques.
You don’t need a separate bank account for matched betting or any kind of sports betting. However, looking at it as a separate entity, maybe even as a business, will be much helpful to open a different bank account.
This way you can track your profits and performance easier and having it separately can make it easy for future loan or mortgage applications.
You can do matched betting for long as you are willing to put the time into it because is quite sustainable in long run.
Is common for matched betting experts to turned matched betting into a full time job.
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Now, after we covered the most basics questions using our matched betting guide, is time to put in practice what you’ve just read. So, let’s get you started on your matched betting journey.