What is matched betting and is it worth it?
Matched betting is fast becoming one of the most popular ways to make money online with tens of thousands of people earning over £500 per month turning bookmaker bonuses into risk-free cash.
The technique involves earning free bets at no, or very little, cost and making a guaranteed profit converting the free bets and bonuses into cash. Matchedbets.com is one of the leading web resources for matched betting, aggregating all the profitable offers every day, providing guides and tutorials, and most importantly, the specialist tools that make matched betting a viable proposition for everyone.
There are more than 50 UK licensed bookmakers offering free bets and bonus money for opening an account and many of them have regular offers encouraging customers to return for another bet.
The welcome offers alone are worth around £1000 guaranteed profit and £500 per month can easily be made from existing customer offers. Students, stay at home parents, carers and the retired have latched onto matched betting as an ideal way to boost their income. Profits are tax-free and it only takes around an hour each day to make £500 per month.
Trusted media websites, The Guardian, Telegraph and Huffington Post have reviewed matched betting and agree it works. Matched betting is not about gambling, but playing the system whereby bookmakers plough much of their marketing budget into free bet promotions.
How Matched Betting works
A bookmaker will give you a free bet when you open a new account and place a bet with your own money. By backing your bet to lose at the same odds on a betting exchange, you’ll cancel out the loss on one site with what you win on the other and receive your free bet at no cost.
A clever formula is then used to lock in a profit from the free bet. Place the free bet with the bookmaker and place a reduced stake when betting your free bet selection to lose on the exchange which will guarantee the same profit no matter the outcome.
In practice, there will be small differences in the odds and an allowance has to be made for exchange commissions. A matched betting calculator works out ideal stakes to place on the betting exchange which guarantees a balanced outcome whatever the result. It typically costs 50p when placing a £10 qualifying bet and you’ll make on average £8 profit from a £10 free bet.
Matched betting example
Here is an example which explains how matched betting works using Ladbrokes’ £50 free bet welcome offer and Betfair betting exchange which charges 5% commission on winning transactions.
First, make the qualifying bet in order to earn a free bet:
Back £50 Team A to win on Ladbrokes at 2.5 for a potential win of £75 Lay £51.02 Team A to lose on Betfair at 2.5 for a potential loss of £76.53
If Team A wins, you win £75 from Ladbrokes less £76.53 loss on Betfair, a loss of £1.53 If Team A loses, you lose £50 on Ladbrokes and win £48.47 (£51.02 less 5% commission), a loss of £1.53
Therefore it costs £1.53 to receive a £50 free bet.
To make a profit from the free bet:
Back £50 free bet Team A to win on Ladbrokes at 6.5 for a potential win of £275 Lay £42.64 Team A to lose on Betfair at 6.5 for a potential loss of £234.52.
If Team A wins, you win £275 from Ladbrokes less £234.52 loss on Betfair, a profit of £40.48. If Team A loses, you lose nothing on Ladbrokes and win £42.64 less 5% commission, a profit of £40.51
Therefore the total profit from the offer is £40.48 or £40.51 less £1.53 qualifying loss
How to get started
Matchedbets.com has all the tools you’ll need to make money matched betting and will save you hours of trawling betting sites looking for offers and finding suitable bets to make a profit.
The Oddsmatcher finds closely matched prices on bookmaker and exchange and the integrated calculator works out the stakes to place. There is video tutorials and step by step instructions to guide you through the process of opening accounts, using the Oddsmatcher and calculator, to placing the bets with bookmaker and exchange.
Members have access to a host of articles and advice on all things related to matched betting with live chat available from 8.00am until 8.30pm should you need support from the experts.
You must be aged over 18 and will need a bank account with debit card. It’s recommended you have around £100 to get the best from the first few offers while you build up your bank balance. Sign up to matchedbets.com today for a free trial which should make around £40 profit.