What Is Matched Betting?
[Our 2020 Matched Betting Guide]
In this module for matched betting basics (our 2020 matched betting guide), we are going to answer questions such as:
- What Is Matched Betting?
- What are the basics of Backing & Laying?
- How Matched Betting works?
- How to start doing Matched Betting?
- How much time you need to put into Matched Betting?
- It is matched betting legal and risk free?
- How much money you need to start Matched Betting?
and more. Most people that are new to matched betting or any form of betting are most of time confused, skeptical, nervous and almost every time unaware of the mechanics. Our purpose is to bring light and knowledge into everyday individuals which are willing to try.
By the time you’re finished with our Matched Betting – Basics module known as “Our 2020 Matched Betting Guide”, your mindset will be changed to confident, eager and optimistic. If you think you are not the only one which can benefit from this knowledge, please use the below links to share it.
Matched betting is a low risk form of gambling, typically on sporting event; 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 ‘no risk’ betting strategy that guarantees profits by using a simple calculator for backing & laying, along with bookmaker free bets and other promotions.
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.
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.
What's next after FAQ?
Now, after we covered the most basics questions about matched betting, we can move to other basic topics. Is up to you if you want to go through these next topics, or if you want to GET STARTED immediately. However, we would recommend to go through other materials on your own pace. The reason we suggest to assimilate the other basic topics is because we believe that to increase your earning you need to be informed and up to date with all the techniques and tools.