What is Matched Betting?
Matched betting is a form of “gambling” that is 100% risk free. In reality we aren’t gambling at all, it’s risk free and we can’t lose our money doing matched betting unlike normal betting. Very simply matched betting is when we bet on all sides of a sporting event so that we can’t lose to unlock bookie bonus bets that we can then use to profit from.
An example of how we make money from matched betting.
William Hill are offering us a £20 free bet when we place a £10 bet. So in order to the £20 free bet we first need to place our £10 qualifying bet. To make this risk free we choose something to bet on and then lay it off at a betting exchange like Betfair. Let’s take a football match as an example.
Arsenal vs Chelsea – We are going to bet £10 on Arsenal to win at William Hill. Now we need to go to Betfair and place a bet on Arsenal not to win. That is called a lay bet. Once both these bets are place, no matter the outcome of the game we will break even. We haven’t won anything and we haven’t lose anything but now we have a £20 free bet.
We can back and lay our £20 free bet and lock in around 80% of it’s value making us a profit on this deal of £16.
Then we do it over and over again at different bookies and take part in all the different offers. All these free bets start to add up to a serious sum of money every single month. It’s not difficult to make around £1000 a month if you put the time and effort in.
It’s a little more complicated than I have described it as we haven’t taken into account any odds in the example but that is essentially the principle of matched betting. We also need a special calculator to work out our bets which you can find on matched betting tutorial sites like Oddsmonkey.
How do we find free bets
This is the bit that can take a lot of time unless you know where to look. First of all there are hundreds of bookmakers online and nearly all of them will offer you a re free bet if you sign up with them. These are our first port of call. We can sign up to all the bookmakers and take advantage of their sign up bonus and probably make around £1000 from this alone. At this point people think it’s all over and they move onto something else. This is completely the wrong idea, matched betting goes on and on. Every day there are new offers and bonuses being offered by bookies to keep you betting.
So you can find the sign up offers simply by going to bookie sites and signing up. The problem is that some offers are more complicated than others and require a bit more expertise. Also once we have used all the sign up offers it’s even harder to find the new bonuses that pop up every day without trawling through hundreds of websites. Matched betting is all about time, we want to make as much money as we can in the smallest amount of time. That is where a matched betting service like Oddsmonkey comes in. Not only do they have guides for all the sign up offers but they post all the new offers every single day.
As well as that they have a lot of software to make the process even easier and quicker. If you want to make £1000 a month you can’t be spending your time browsing the internet. You need to be placing bets and getting the offers done.
Is this legal?
100% yes. All you are doing is placing bets. The bookmakers are fully aware of this industry and there is nothing dodgy about it at all. The bookmakers don’t like it but that’s there problem. Eventually if they suspect you are a matched bettor they may stop offering you free bets but at no point can they keep your money and you can’t get into trouble for doing it. So get stuck in.
Why isn’t everyone doing it?
If it’s so good why isn’t everyone doing it? This is something that gets said to me all the time. People think it is too good to be true and dismiss it as a scam. The fact is thousands of people are doing this and the number is growing rapidly every day. You only need to search online to see the vast amount of people discussing it or go onto the Oddsmonkey forum and look how many members they have all making good money every day.
Many members are making well over £1000 a month but some are happy to take home a few hundred. It’s all tax free money at the end of the day.
Can anyone get involved?
Yes! As long as you are over 18 you can get involved in this. If you want to learn how to become a matched bettor and start earning money then I recommend signing up at Oddsmonkey and following their guides. It is a membership service but it is worth every penny. As a beginner you need instructions to follow other wise you will make costly mistakes and that will put you off. Read my full OddsMonkey review now.