Warning, betting can cause money problems, if you rely on payday loans to get yourself through the month then you should not gamble.
Matched betting is a way in which a gambler can 100% secure themselves a profit from their stake. How? Well, in the modern era you can do a lot more than back a selection to win draw or lose, there are so many different selections and markets to bet on and now you can make use of things called ‘betting exchanges’ which means you can back a selection to win with one bookmaker and then back a selection to lose on a betting exchange. If the odds are close to each other then you can spin a profit. That’s the simple explanation of matched betting, though, it’s a little bit more complicated that that.
Matched Betting With Free Money
Matched betting is most profitable for new customers who can make use of free bet offers because you are in effect betting with free money and laying against with your own money, this gives you a higher profit margin in the early days. With so many betting websites available to people in the UK looking to have a bet, it is estimated that someone willing to put a little bit of effort in can make an easy £2000 pounds. Once you’ve utilised all of the free bet offers you are going to have to start stumping up your total back and lay stakes. To get started, you may find FreeBetOffersUK.co.uk useful, it details the vast majority of betting sites in the UK and offers many articles explaining the different types of bets and general sport betting news http://freebetoffersuk.co.uk/womens-world-cup/the-womens-world-cup-final, helping you to get informed about your betting decisions.
Will i be breaking the law?
Matched betting is legal, so don’t worry, you won’t be breaking the law. One bookmaker tried to make matched betting illegal via the courts but failed. But what you will find, though, is that once you have been successful in your betting endeavors and deprived the evil bookmaker of his profit, they may cotton on to your betting patterns and they will either start to restrict your betting stakes or ban you as a customer. But you’ll have made lots of money by the time that happens and there are ways around it.
So, how to Match Bet
If you rush you may make mistakes that will cost you money, so while it is risk free betting, if you do it wrong it isn’t free.
What you will be doing, firstly, is signing up to a bookmaker like bet365, depositing your money and getting your free bet. Bookies offer all sorts of different new customer bonuses so you need to make sure you read the terms. There are often various conditions to qualify, like backing at certain odds or in a certain period of time yada yada.
A back bet: When you back something you are betting that it will be right. So, you bet that England women will beat Germany 1-0 in extra time at the Canadian world cup. You put your money on and get odds of 5-1. Putting £30 on that outcome will return £180. Not bad.
Laying bets: To lay against England women beating Germany 1-0 in extra time (go ENGLAND!) you have to use something called a betting exchange. When using the betting exchange you will be betting that England do not win which means if they draw or lose you will profit from the lay. Bear in mind that betting exchanges charge a small fee for each transaction. This is more of an issue when you have run out of free bet offers.
Simple to understand? It should be… right…?
Matched betting explained further
Right, i’ve told you about backing and laying but now i am going to go into more detail. Your first deposit to the bookmaker you sign up to will be your own, real money. So you will need to back and lay with your own money.
This will release your free bet. Once you have released your free bet you have free money to bet with. So if you place a bet with your free money and lay with real money, whatever the outcome, you’ll make money.
With your first deposit you can find odds that are close to each other or exactly the same to minimise your original loss or make no loss at all. If you are lucky you may even be able to squeeze a small profit. But even if you lose a few pence or a pounds on your original stake your profit from the free bet and lay will ensure a clear profit.
Matched betting example
1, Sign up to a betting exchange, there are a few around at the moment but we’re going to use betfair as an example. Betfair will be used to lay bets. Laying is what deducts the risk of your gambling because you are covering every eventuality.
2, sign up to a normal bookmaker like will hill, paddy power, betfred or one of the many others that offer free money to new customers. Check the T*C’s and make your deposit.
3, Reading odds is difficult for people who are new to betting, most people understand what 4-1 is it is 4 times your stake plus your stake. Bet 25 and get 125 back. Most betting sites calculate your stake and return for you so being good at maths is no longer essential. Betfair is a betting exchange and it uses decimal odds. Most traditional betting websites use fractional odds. To make odds comparisons more easily you will need to switch the fractional odds to decimal so that you can compare between the two sites.
4, Now you have deposited, it is time to find something to bet. I particularly like betting on sports like football myself. Find a football team that has low’ish odds like 1.3 on your traditional betting site and find lay odds on betfair that are close to 1.3. You will usually make a small loss on this, pennies or low pounds.
5, The outcome of step 4 is irrelevant, you will probably have made a small loss. But now you have unlocked your free bet or bets. What you do now is repeat the process by betting on another football match but this time with your free money. Just use the free money, any excess in your account can be withdrawn. Depending on which site your original bet profited at you may need to top up your bet exchange account to lay against your free money bet. Once the result of your selection comes in, one of your accounts will show a profit. Then do a bit of maths by working out how much money is in your betting accounts and how much money you have deposited overall to find out how much money you made.
In order to make life easier there are various tools that compare odds for you. Rinse and repeat the process until you have used all of the free bets available.
Once you’ve done this, you’ll be more experienced and other matched betting doors will begin to open for you, but it is best to get your experience behind you first.