Matched Betting Introduction
Many people are wondering how matched betting works and whether they can still make money from matched betting in 2021.
Yes – it works and this simple guide for matched betting tells you everything you need to know about it – from informing you exactly what matched betting is to navigating you how to use it and make good money from this no risk betting strategy. So, let’s start.
What is Matched Betting?
Matched betting is a completely legal way to make risk free profits by exploiting free bet offers from bookmakers. You don’t have to be a gambling expert to take advantage of this strategy. Despite being linked to placing sports bets at online bookmakers, matched betting is not gambling at all, because regardless of the outcome of the sports event, you end up with a profit. The best part is that there are no taxes on these profits and everything is left for you to enjoy.
How Can I Make Money from Matched Betting?
The only two things you need to make money from matched betting is to learn how to do it and to dedicate some of your time to it. We explain in this guide with simple examples and screenshots all the steps you need to go through.
Once you complete the whole matched betting cycle using our free matched betting calculator a few times, you will be completely confident in your ability to make risk free money consistently.
The only other thing you need to invest is a little bit of your time. Matched betting is a great and completely legal way to generate additional income, but you still have to spend the time to execute it.
Luckily for you, we’ve got you covered in this matched betting guide. We give you the answer to every critical question and provide you with the tools which will assist you in using this strategy and minimise the time you spend on it.
What is a ‘Back’ Bet?
A back bet is a simple bet for something to happen. These back bets are placed at online bookmakers. For example, you place a bet on Man Utd to beat Barcelona.
If your bet is correct, you win back your stake multiplied by the odds of your selection.
If your bet loses, you lose your stake. Your stake is in practice your liability towards the bookmaker and when you lose, the bookmaker takes your stake from you.
When doing matched betting, you place two back bets with the bookmaker that has given you an offer. The first time you do it to unlock the free bet. The second time you make a back bet using the free bet itself.
What is a ‘Lay’ Bet?
A lay bet is a bet for something NOT to happen. These lay bets are placed at bookmaker exchanges like Betfair or Smarkets. For example, you place a bet on Man Utd not to beat Barcelona.
By placing a lay bet, you take the role of a traditional bookmaker. Your lay bet stake is the money you wish to take from another punter in case their bet loses, just like a normal bookie would do.
If the bet outcome doesn’t happen, you take the other punter’s stake. If the bet outcome happens, you need to pay the punter their stake back multiplied by the odds of the winning selection, just like a bookmaker does – this is called your liability.
To illustrate, you place a £20 bet to lay Man Utd in a game versus Barcelona on odds of 2/1. This means you want to take £20 from another guy who bets on Man Utd to beat Barcelona.
If Man Utd loses against Barcelona or the game ends in a draw, you take the £20 from the other punter. If, however, Man Utd beat Barcelona, you need to pay the other punter £20 * 2/1 = £60 (your liability).
The exchange takes the role of an intermediary between you two and they charge a small commission for each transaction.
How Does Matched Betting Work?
Here’s the main concept – online bookmakers are giving free bets as welcome offers to new customers, and they are also doing ongoing reload offers for existing customers very frequently. They are doing so because that’s a very convenient way for them to attract new players and retain existing players – free bets are extremely popular.
For example, a famous welcome offer that bookmakers are using is Bet £10 Get £30 Free Bet. Here are the steps you need to take:
With these two steps you have covered every possible scenario in the game – Man Utd to win and not to win. On this qualifying bet, you are expected to make a very small acceptable loss usually up to £1. Don’t worry, this is normal, because by doing this exercise, you have qualified for the £30 free bet, and you will make your guaranteed profit by repeating exactly the same exercise, but this time using your free bet:
Again, you have covered every possible outcome of this event, but this time you are making a guaranteed profit because one of the bets is not placed with your own money but instead is given to you as a free bet by the bookmaker.
In most cases, you will be able to extract 70 – 80% of the free bet amount as profit. This means that investing roughly 15 minutes of your time to execute matched betting for this Bet £10 Get £30 offer, you will win roughly £21 - £24 risk free profit, regardless of the outcome of the sports event.
Keep on reading to see exactly how you can do this over and over again every single day and accumulate risk-free matched betting profit.
BET £10 GET UP TO £30 IN FREE BETS18+ | UK new customers only | KYC verified |Max £30 in free bets | Min £10 bet | Additional £10 free bet if first bet is settled as losing | Min odds 7/10 (1.70) | Bonus Code: BETTINGCOM| Free bet stake not returned | Certain Markets/sports/payment methods restrictions apply | Qualifying bet must be made within 3 days | Free bet valid for 7 days | T&C's apply | General Promotions Terms apply. begambleaware.org
100% BONUS UP TO £150Valid for new UK & Irish customers registered from 17/11/2021. Deposit using code SPORTS150. Min deposit £25,Max contribution turnover requirements £25 per bet. Min odds per selection 1.6. Multiple bets on same event do not count. Maximum bonus to cash conversion is £1000. Only customers from approved marketing partners will qualify for this offer. 18+. T&C Apply. begambleaware.org
100% BONUS UP TO £150!18+. begambleaware.org. £/$/€10 min deposit using promo code “150BONUS” • The bonus will be applied once the full deposit amount has been wagered at least twice with cumulative odds of 1.50 or greater • To withdraw any winnings from your bonus, you must wager the bonus amount up to 5 times • All deposit and bonus wagering requirements must be completed within 60 days • This offer may not be combined with any other offer • Wagering limit of £/$/€50 per bet Applies • Restrictions apply to withdrawals, payment methods and countries & full T&Cs apply.
How to Place a Matched Bet
To make sure you extract the highest possible profit from each matched bet, open our matched betting calculator in a new tab.
It’s very simple to use – you just need to do these 3 steps:
After you do these, the calculator tells you how much you need to lay on the betting exchange, and informs you what your liability will be, together with the total guaranteed profit for you.
Let’s go over a specific example so you can feel and understand the whole process put together.
Matched Betting Example
Let’s go back to the Bet £10 Get £30 promotion we mentioned before. First, you need to place your qualifying bet.
The best possible results with regards to the qualifying bet are observed when you place it on lower odds (3/5 and below). You also need to ensure the back bet odds at the bookmaker and the lay bet odds at the exchange are close. By doing that, your losses during this first step will be very minor.
For this example, we are picking a Premier League game between Chelsea and Crystal Palace.
Here are the odds at bet365 which offered you the promotion:
And the corresponding odds for the same event at the exchange, in this case, Betfair:
You should do matched betting on Chelsea to win with your £10 stake. In the matched betting calculator you will input the following numbers:After you do this, the calculator tells you how much you need to lay, what your liability will be and the total profit from this exercise, regardless of the result outcome.
In this case, you will incur a minor loss of £0.42 but this is normal, as now you have qualified for your £30 free bet, where the guaranteed profit will arrive.
So now that you've got your £30 free bet active, it’s time to extract the profit.
This time it's wise to pick odds greater than 6/4 to maximise your profit, but just note that the higher the odds are, the more you'll need to have in your Betfair account to lay it (your "Liability").
Let’s pick the following event:
To extract the most profit from the free bet, we will place it on Hebei. We go again in the calculator but this time we pick the Free Bet option and fill in the needed numbers:
Again, after you do this, the calculator tells you how much you need to lay, what your liability will be and the total profit from this exercise, regardless of the result outcome.
You can see that this time you are going to generate a guaranteed profit of £24.60. This is because the money with which you are backing Hebei at the bookmaker is not your own money but is given to you for free by the bookmaker.
Two important notes:
N.B. 1 We strongly advise you to avoid placing the exact lay bet stakes that the calculator shows, in this case, £25.90, but instead to round it up to the nearest 0.5 - in this case, your best move would be to place a lay bet of £26. This will take a few pennies from your profit but will keep you safe from the radar of bookmakers.
If you are continuously placing bets with random numbers such as £10.08, £15.69 and so on, you can be flagged in the software of bookmakers as a potential bonus hunter and you will risk your account being limited. Instead, always place bet stakes such as £10, £15.50, £18 etc. Please refer to the last question in the FAQ section at the bottom of this article to learn more about how to avoid being gubbed by the bookies.
N.B. 2 Before placing your qualifying bet, read carefully the full terms and conditions of the bookmaker offer. Very often there are certain conditions for the qualifying bet placement, for example, it needs to be on odds of at least 3/10. Similarly, some bookmakers require you to satisfy specific criteria for the usage of the free bet. Make sure to read the terms before placing the matched bets.
What are the Risks of Matched Betting?
Matched betting is a risk-free strategy bringing guaranteed profit provided that you follow the instructions in this article.
The risks of something going wrong are only possible due to a manual human mistake when you are placing your matched bets.
Below are the most common manual mistakes and how to avoid them.
Read the Terms of the Promotion
Before placing your qualifying bet, make sure to read carefully the full terms and conditions of the free bet promotion.
As we just mentioned, you don’t want to place your qualifying bet on odds of 2/5 only to find out later that the minimum odds requirement is 1/2. In this case, the bet that you have placed on odds of 2/5 won’t count as qualifying for your offer but just as a regular bet, and you will need to place the qualifying bet again.
Similarly, sometimes you will be required to place the bet on a specific sports event, for example, a frequent offer bookmakers do is “Bet on the game pre-match, get a free bet for live betting during the same game”. Invest a few minutes to get familiar with the promotion rules before extracting your profit.
Make Sure You are Placing the Correct Lay Bet Stake
This is the main reason you are using the matched betting calculator for. Before placing your lay bet at the exchange, check for a few seconds that you have entered the correct back bet stake, back bet odds, lay bet odds and the commission that the exchange charges.
Afterwards, place your bet according to what the calculator tells you:
And remember what we mentioned before – round up your lay bet stakes. In this example, instead of placing a £23.03 lay bet, place a £23 one. You will sacrifice a few pennies but you avoid the risk of bookmakers flagging your account which is very important because then you will be able to enjoy matched betting for a long time.
Avoid Your Bet in the Exchange Being “Unmatched” or “Partially Matched”
Such cases are very rare, but you need to be prepared so that you can avoid this happening.
What does an unmatched or partially matched bet mean at Betfair, Smarkets or another betting exchange?
It means that there isn’t enough money on specific odds from the backers to match the amount of your lay bet (which is the amount you aim to win from another person who makes a back bet).
Let’s illustrate this with an example:On this event in Betfair, like in any other event, the lay odds are in the pink boxes. Below the decimal odds, you will see a monetary amount (£ XYZ). This shows you the total amount of money on offer from backers of this selection at the given odds. Imagine that you’ve successfully completed the qualifying bet stage of a matched betting offer. For the free bet, you’ve chosen to back Legia Warsaw at the bookmaker. Let’s say the calculator is showing you this for the lay bet stake:
Your required lay stake in this case (£23) is higher than the money available in Betfair to lay Legia Warsaw at odds of 7.0 (£17 as seen in the first screenshot above) which means that if you place a £23 lay bet on these odds, it will be just partially matched, and the remaining £7 will need to be placed on higher lay odds which increases your liability.
Your other option is to wait for your remaining £7 to be matched on the original odds but there is no guarantee that this will happen.
Sometimes your bet can be fully unmatched, particularly if the event you are betting on is close to its starting time. That happens because during the seconds you are placing your bet, another lay bettor could place the bet instead of you and take the available money on the table from the backers.
If you face a situation where your bet is fully unmatched, cancel your bet immediately and instead find another event, or bet on the same event but with the new slightly different odds available.
In general, these situations are rare, and you should aim for selections where the number in the pink box below the odds is with at least three digits (£XXX) to give you an extra cushion for any last-minute movements in the market. But even if it’s double digits, make a habit to check that the number is higher than your lay bet stake, and you will be just fine.
Learn More About Matched Betting
Our guide has everything you need to know about matched betting, but if you wish to explore the concept further from more sources, the links in the references section in the Wikipedia matched betting article contain nice stories about the usage and benefits of this risk-free betting strategy.
Matched betting is a risk-free strategy that brings guaranteed profit to you. The strategy is based upon taking advantage of free bet offers that bookmakers regularly provide.
To extract a guaranteed profit from matched betting, you need to go through two stages – placing the qualifying bet that unlocks the free bet and then placing the free bet itself.
In both stages, you are required to place one ‘back’ bet at the bookie that gives you the offer, and one ‘lay’ bet at a betting exchange.
To make sure you place the required amount of your ‘lay’ bets, you should use a matched betting calculator. By inputting a few numbers like the odds, your stake and the exchange commission, you will know how much to lay on the exchange.
Matched betting can be executed over and over again and each time you do it, you will become more comfortable with the whole process and also quicker. The free bet offers that bookies give you will not go anywhere any time soon which means that if you are willing to invest several hours per week doing matched betting, that can bring you profits above £500 a month. Many people are generating this risk-free income.
Matched Betting - FAQ
Is Matched Betting Legal?
Yes, there are no issues whatsoever because you are placing your bets by following the rules the bookmakers and the betting exchange have set. You are just taking advantage of the math to generate a profit. More and more bookmakers have accepted that some people are using this strategy, and they are fine with that. A spokesperson from William Hill has admitted that you can do what you like with your free bets.
Is Matched Betting Ethical?
Yes, it is. You can call us biased but it’s good to finally have a way in which you can beat the bookies at their own game, right? There’s nothing wrong with recognizing a favourable situation and exploiting it to your advantage, without breaking any rules while doing so. Please make sure you do not confuse matched betting with arbitrage betting. Matched betting is a strategy that bookmakers don’t have a problem with, whereas arbitrage betting is something completely different that can get your account with a bookie permanently banned.
Is Matched Betting Gambling?
No, despite the fact it requires you to place bets on gambling websites, the strategy itself is not gambling. By doing everything exactly as described in this article and using the matched betting calculator, you will achieve a guaranteed profit with every free bet offer. Many people are still sceptical because they think it sounds too good to be true. That’s why no more than 4-5% of sports bettors worldwide are using the strategy. You can become a part of this community. Start using matched betting now and enjoy the additional income that you can use for whatever you want in your everyday life
How Much Can You Make from Matched Betting?
How much per month you can make from matched betting depends on how much time you are prepared to invest. By investing several hours a week, a profit in the range of £300 - £500 a month is achievable. Of course, if you dedicate more time to it, you can even make more than £1000 a month. Many people are putting in the necessary time to claim more free bet offers and extract guaranteed profit from them, and they are winning such amounts. You should always be aware that matched betting is not some get rich quick scheme - you can’t expect to make £15,000 from only one £15 bet through this strategy. When you use matched betting, your profit will grow steadily over time, and in the long term, you will appreciate the value of this strategy.
Is Matched Betting Safe?
Yes – by following the instructions in this article you will enjoy continuous profits. The only possible risks are due to a manual mistake by you, but if you are careful with the stakes that you put in the betting exchange, the strategy is risk-free. Moreover, after completing matched betting around 10 times, the whole process will become a habit to you and you will feel much more comfortable with it. Spending 10-15 minutes per free bet offer is entirely achievable once you’ve done matched betting a few times.
Do I need to be a Gambling Expert?
No, you don’t need to be knowledgeable about anything related to sports betting to make a profit from matched betting. Just follow the guide in this article and the profits will arrive. Many people that are not regular sports bettors are taking advantage of matched betting and generating profit from it.
What are the Pros and Cons of Using Matched Betting Calculators?
The pros of using a matched betting calculator are that you won’t need to calculate a complex formula yourself in order to deduct how much you need to lay at the betting exchange for each free bet offer. In theory, you can use your own matched betting spreadsheet to calculate the bets yourself but why would you spend additional time to do that? Take advantage of our fully automated and responsive matched betting calculator that does all the calculations for you after you submit the necessary data in it. The only con of matched betting calculators is that they give you ‘Lay Stake Required’ numbers such as £13.64, £18.13 and so on. In this case, it’s a very good idea to bet stakes rounded up to a whole number or to £0.5. For example, instead of betting £13.64, bet £13.50 at the exchange. Instead of betting £18.13, bet £18 at the exchange. You will sacrifice a few pennies from your profit but with the reassurance that bookmakers will not limit your account because your bets will look absolutely genuine.
On Which Bookies can I do Matched Betting?
You can do matched betting at any bookmaker that offers you free bet promotions. Afterwards, you place half the bets at that bookmaker and the other half at the exchange. In general, people from the UK have the most opportunities to do matched betting simply because free bets are most popular in the UK. As a result, the highest amount of free bet promotions are in that market. However, this doesn’t mean that you can’t do matched betting if you are not from the UK. Free bets are becoming more popular all over the world every single day and people in every country are now used to them and much more comfortable than before in using them. The best strategy is to claim all free bet welcome offers from bookmakers that you still don’t have an account with. Afterwards, the same bookmakers will do reload offers or special promotions around high-profile sports events on a continuous basis that involve free bets. You can continue executing matched betting with those free bets and there is no time limit to your profits as the offers will keep on coming.
Which Betting Exchange should I choose for Matched Betting?
The commission each betting exchange charges is different. For example: Smarkets – 2%, Betdaq – 2%, Betfair – 5%. If you think that the commission is looking similar, calculate the percentage in the long term. If you win £1000 every month at the betting exchange, after a year you will have around an extra £360 in your account only because you had decided to go with Smarkets instead of Betfair, for example. Make sure you carefully follow what is the available liquidity in the exchanges. One exchange may offer lower commission rates but lack liquidity which is of fundamental importance to you.
What is the Best Way to Follow My Matched Bets?
To make the most of matched betting, you have to open accounts at every possible bookmaker operating in your country and take advantage of the free bet offers. Managing many accounts across different bookmakers’ websites is not an easy task. Another important thing on which you need to keep an eye on is your bankroll management. The best way to track your bets, check your performance and know everything about your betting bank is to use tracking and analytics automated tools and certainly, there is no better option than Betting.com for that. With our betting portfolio management tools, you will know at any time how much money you have in each bookmaker and exchange account, you can analyse your betting history, and keep everything in one place – nice and simple.
Is Matched Betting Worth it?
Yes, you can make a risk-free profit without having to be a sports betting expert. Just put in the necessary time, use our matched betting calculator and extract guaranteed profit from every free bet offer.
Is Matched Betting Free?
Despite the fact it brings you guaranteed profits, the matched betting strategy still requires you to have funds for your starting bank. This is because, in order to claim the free bet welcome offers and reload bonuses bookies provide you with, you need real money to make your deposits. In addition, you will have to fund your Betfair or Smarkets exchange account with funds to cover the liability on your lay bets. If the back bet at the bookmaker wins, the lay bet at the betting exchange will lose and you will need to pay the backer at the exchange. Very soon after you start, however, you will have accumulated enough risk-free profit to cover all your initial investments.
How to Start Matched Betting?
Go to our page with bookmaker welcome bonuses and claim each one that involves free bets as a reward for your first bet or deposit. Once you have extracted guaranteed profit from all welcome offers, continue with the reload and special promotions that are updated on an ongoing basis. This will ensure that you won’t miss any potential source of risk-free profit. Matched betting is here to stay in 2021 and beyond.
How Long does Matched Betting take?
As long as you can spend your time on it. The more time you allocate to matched betting, the more profit you will be able to extract. Your monthly income from matched betting can vary from a few hundred euros (pounds/dollars) to more than a thousand euros (pounds/dollars).
Can I Lose Money on Matched Betting?
The only way in which you can lose money from matched betting is if you make a manual mistake when you are placing your bets. If you are careful and follow the steps outlined in this article, your profits are guaranteed regardless of the outcome of the sports event you have placed the bets on.
How Easy is Matched Betting?
This article, in combination with our matched betting calculator, tells you everything you need to know to execute this strategy successfully. You don’t have to be a sports betting expert to do it. It’s easy and it’s worth it.
How to Make Sure my Account isn’t Restricted by the Bookmaker?
Always place your bets with round numbers. For example, if the calculator tells you to lay £13.11, lay £13. By doing this you will stay away from the radars of the bookies. It’s highly unlikely that your account will be restricted as bookmakers have accepted matched betting as a strategy some people do. However, just to be on the safe side, it’s always wise to bet with round numbers, or numbers such as £13.50, £15.50 rather than more obscure numbers such as £8.73 or £20.04. Another good idea is to mix your matched bets with a few other bets on top events like the Premier League, Champions League, NBA, Wimbledon etc. The reason is to demonstrate to the bookies that you are not there only when they give you free bet offers, but you sometimes place regular bets as well. Otherwise, some bookies may realise that you are active only when using free bet promotions and may exclude you from such offers in the future.
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