Matched Betting is a way of making money for free from betting without really risking any of our own money. We are placing bets, but essentially – we are not betting. What we do is cash-in free bets from online bookmakers and guarantee ourselves a risk free profit from the free bets. The best type of bet for Matched Betting, is a Free Matched Bet.
When cashing in free bets in this manner, I would be looking for a profit in the region of at least 60% of the free bet amount. This means for a £50.00 free bet, I would be looking to get back at least £30.00 profit. Or from a £25.00 free bet, I would expect £15.00 back… and so on.
There are hundreds of pounds worth of free bets currently available from bookies for matched betting. We can use these free bets to build ourselves a betting bank to bet for free with, or we can simply just keep the money we make from matched betting. Either way, it’s free money.
I’m now going to give you an example of how a typical matched bet may work. Before we start, you will need to open an account with a betting exchange for matched betting. The best one out there for getting bets matched is Betfair, if you haven’t already got a Betfair account, you can open one here..
Matched Betting Example
Before I go on, you will find that a lot of bookmakers stipulate that your qualifying (first) bet is placed on an event at minimum odds, such as Even money (2.00) or greater. They do vary, some are 1/2 (1.50), or it could be 4/5 (1.80). You do need to check before placing bets.
So for this reason I’m going to base the qualifying bet for this example on odds of Even money (2.00), and I’m going to call the bookmaker, Bookie A..
This is my qualifying bet….
Back Team A @ Even money (2.00) with Bookie A for £10.00
Lay Team A @ 2.00 (Even money) or nearest price possible on Betfair for around £10.00 to get as close as possible of your £50.00 back.
You will find that Team A is probably going to be at odds of 2.02 or 2.04 to lay, so you won’t get exactly £10.00 back.
After the match has finished and your bets are all settled, your money will either be in your Bookie A account, or Betfair account (depending on which account wins the bet). You should also now have a free bet showing in your Bookie A account,
This is how I would use the free bet…
Back Team A @ 8.0 (7/1) with Bookie A for your £10.00 free bet.
Lay Team A @ 8.0 (7/1) on Betfair for approximately £8.00. Again, you probably won’t be able to lay at 8.0, it will probably be about 8.2 or 8.4 (don’t use a bet with odds at higher than 8.6). You should be looking to get around £7.50 to £8.30 back from the lay.
The free bet will break down like this.
If Team A wins, Bookie A will give you £70.00 winnings back, but you will lose around £62.00 on Betfair from your lay of Team A – profit of around £8.00.
If Team A loses you get nothing back from Bookie A (you don’t lose, as it was a free bet), and you win about £8.00 on Betfair…. So either way, you should get a profit of around £8.00, whatever the outcome of the match.
You will probably have lost around 50p to £1.00 placing your qualifying bet, so all in all you should be making around £7.00 – £7.50 clear profit from the free bet.
This is an example of how Matched Betting works. Before you start, I would just like to point out that it’s always important to check the terms and conditions of the free bets with the bookmakers, and make sure you fully understand what you are doing.
The terms and conditions can vary. Some bookies impose different minimum odds, in the example above I used odds of Even Money (2.00). I believe that if you stick to minimum odds of Even money, you should be okay.
There are thousands of pounds of free bets for new customers, and free bets for existing customers, out there these days. I’m not exaggerating, they are everywhere. If you are making somewhere in the region of 65-75% on every pounds worth of free bets, then that is a lot of money.
There are people who have taken Matched Betting to another level and are making thousands from it. This involves using free spins in casinos, bingo sign up offers, spread betting offers, and free bets like the ones mentioned above.
All these offers can be found on the Profit Maximiser subscription service (you can try Profit Maximiser risk free here using their 30 Day Money Back Guarantee). Not only does Profit Maximiser find you these services, it also walks you through the process, with written instructions, and video instructions so you can watch how it’s done.
It really is a brilliant service, with a Facebook group where members also help each other out and find and share offers with fellow members. I really can’t stress just how good this service is.