fbpx

Matched Betting

  • GETTING STARTED
  • WELCOME OFFERS
  • CALCULATOR
  • JOIN NOW
  • LOGIN

What is Matched Betting? An easy guide

Thursday, 01 November 2018 / Published in Getting Started

What is Matched Betting? An easy guide

Introduction to Matched Betting

Getting Started

Time to Complete - 5 Minutes

What is Matched Betting? An easy guide

Matched betting is a way to turn the free bets offered by online bookmakers into real money that you can actually withdraw from your bank account. With matched betting, you always place 2 bets instead of just 1. When you place a bet on a team to win, you always place a ‘matching’ one on that same team not to win. This may sound a little confusing at first because you’re basically canceling your first bet out…BUT it means you’ve protected your money and taken the gambling out of betting. Keep reading to find out how to make money…

How does matched betting work?

In matched betting, you always place two opposing bets. These are two different kinds of bet:

Back bet: As the name suggests, this is where you put your backing behind an outcome to come true. You’re betting for something (usually to win). Place your back bets at online bookmakers like Coral or Paddy Power.

Lay bet: With a lay bet, you’re doing the opposite and betting against the outcome you bet on before. You’re betting that it won’t come true and effectively canceling out your back bet. Place your lay bets through online betting exchanges like Betfair or Smarkets.

Matched betting uses the free bet offers given out by bookmakers, such as “Bet £5, get a £5 free bet”. There are two parts to that offer: “bet” and “get”. In matched betting, you need to do the first part to be able to unlock the value in the second part. Let’s take a closer look:

Qualifying bet: To qualify for the reward part of the free bet offer, you need to bet at least £5. Remember, matched betting means that you’re not really betting £5 of your own money because you’ll also place a similar lay bet which will effectively cancel the back out.

Free bet: With this second part, just repeat the process from your qualifying bet, which means place another back bet and another lay bet. This time though, use the free bet rather than your own money at the bookmaker. And because of this, you’re able to extract some real money from the free bet.

—

A quick step-by-step example of matched betting:

Pick a bookmaker who’s offering a free bet like, ‘Bet £10, get £30 in free bets’. Deposit your money and place a back bet of £10 on Liverpool to win their next game. This is the qualifying bet.

Next, place a lay bet (on Liverpool not to win) at a betting exchange. This is your matched bet.

Liverpool play their game and either win, lose or draw. If they win, your back bet wins and if they lose or draw, your lay bet wins. You should have won a similar amount of money as you staked, but you’ll also have unlocked those £30 of free bets which is the important bit! Now it’s time to turn that into real money…

Repeat the back and lay process using your free bets. By doing this, you’re effectively turning them into real cash. You should end up extracting around 75–80% of the free bet amount, so a £30 free bet turns into around £24 profit.

—

Is matched betting gambling?

No. Matched betting isn’t gambling because the process of matching bets by placing a back and a lay bet on the same event means that both the win and lose options are covered. In gambling, you’re only betting on one outcome, which is why your money is at risk – that bet could lose. However, matched betting takes away that risk.

Matched betting’s a legal way of using the free bet promotions offered by the bookmakers to make money.

How much do I need to start matched betting?

You’ll be able to build your bank more quickly the more money you have, but you can get started with any amount. That’s one of the great things about matched betting: anyone can have a go!

It’s also a good idea to have a separate bank account just for matched betting because it’s easier to keep track of all your transactions.

How to find welcome offers

You’ll find loads of welcome offers right here on matchedbetting.co.uk, along with step-by-step guides on how to make money from them.

You must be logged in to post a comment.

TOP
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.