Matched Betting Guide
These days the majority of bookmakers offer a Welcome Bonus in some form, with many going on to reward existing customers with additional free bets.
For the bookies it’s a way to attract new business and retain existing customers, but it also presents an opportunity for bettors to make some easy dollars.
Matched betting offers a risk-free and totally legal way to turn the tables on the bookies by cashing-in on the numerous free bet offers and other bonuses they provide.
By using free bets, bettors can guarantee profits by having all outcomes of a match or an event covered.
Matched Betting guide – How to make money
Other than rare exceptions (no deposit free bets), the bookie first wants their new customer to make an initial deposit and have a bet with those funds, but this is no problem with matched betting.
What you are doing with matched betting is backing both outcomes to first unlock your free bet, i.e. you are backing a team or individual to win AND not to win (although not necessarily to lose), then repeating the procedure with the free bet to ensure a profit.
The key to making money from matched betting is to ensure that you follow all the requisite steps correctly, as any mistakes along the way can potentially prove costly.
Matched Betting Australia
There can be a few issues with matched betting Australia, depending on your state of residence.
Some states are not permitted to directly offer sign-up bonuses so, after registering for a new account, instead of making a first deposit go to their ‘Live Chat’ service and ask for a Welcome Bonus.
Matched Betting Offers
Let’s say there’s an offer of a $20 free bet when you deposit and place a bet of $20 with a betting company.
The first thing to do is to find a bet that you can back and lay at almost the same price, so as to ensure that you effectively break even whatever the result. Premier League soccer is usually a good option for this, as there is plenty of liquidity on the betting exchanges.
So, having signed up with the bookmaker, we BACK (for example) Barcelona at 2.00 to win their game (it’s best to make the initial bet at fairly short odds). You then go to a betting exchange (we’ll use Betfair as our example here, but others are available) and you now LAY Arsenal at 2.00 not to win.
What that means in real terms is that whether Barcelona win or not, you will break even – if Barcelona win, your bet with the bookies will earn you $20, but you would also lose $20 on the exchange and vice versa were Barcelona to lose or draw.
The bet with the bookies will also unlock your $20 free bet, which we now want to turn into guaranteed profit.
At this stage you might want to use a ’matched betting calculator’ or an ’oddsmatcher’ to find the best bets to back and lay for a guaranteed profit. These tools will save you time, effort and hopefully ensure that you avoid human error (you can find a number of such tools with a simple google search).
At this stage we basically repeat the earlier process of backing one event with the bookmaker and laying it with the exchange although, on this occasion, we are ideally looking at bigger odds (perhaps 3.00 or greater) in order to maximise our profit. However, the higher the odds, the more money you will need in your exchange account to cover the bet.
So let’s say we back the draw in a Liverpool match at 3.60 with our $20 free bet and then lay it off at the exchange for a guaranteed profit. If the game were to result in a draw, the profit would be $52.00 (it’s very unusual to get any bonus stake back with a free bet).
To cover the bet on the exchange, we would lay the draw on the exchange at 3.90 for a stake of $13.51. That would be a liability (potential loss) of $39.18 on the exchange were the game to end as a draw.
If the match did result in a draw, you are looking at a profit of $52.00 (from your free bet) minus $39.18 (your exchange liability) = $12.82. If there was any other result, you will be looking at a $12.83 profit (after Betfair’s standard 5% commission) from the $13.51 you laid against the draw. So you will be in profit regardless of the outcome!
Initially any matched betting guide may seem a little complicated, but it soon becomes routine once you’ve gone through the process two or three times.