Matched betting is betting using the bookmakers money (free bets or refunds) and laying the bets off at betting exchanges in order to make a profit regardless of the result.
Bookmakers are always looking for new customers, so in order to attract these customers they often offer sign up bonuses such as a free bet or a refund if your first bet looses.
If you have just completed the Smarkets sign up offer you have already made some money from matched betting.
If you are fairly new to gambling and don’t have that many bookmaker accounts yet then there is literally hundreds of pounds in sign up offers waiting for you right now.
And even if you are not so new to gambling there is still thousands of pounds worth of offers each month that are available to existing customers.
Note: Most UK Bookmaker offers will only apply to residents of the UK. If you do not live in the UK, read the offers terms & conditions very carefully.
Matched Betting Software
The main thing that dissuades people from pursuing matched betting is that they find it too much work and too complicated.
Luckily these days there is software, calculators and communities based around matched betting which will do most of the hard work (and all of the complicated work) for you.
Of course, you have to pay a little bit of money to get access to these services but they are extremely reasonably priced for the time they will save you and the money you can make from them.
There is two matched betting services I have used and would recommend. These are:
Bonus Bagging – (Sign Up Offers)
Profit Maximiser – (Existing Customer Offers)
I’ll go into more detail about both of those services and explain how they can help you make money in the next part of the training.
Going It On Your Own
If you do not want to purchase either of the above products yet, but are still interested in making money from matched betting then I have compiled a small list of sign up offers and created some calculators to help you get started.
There are separate calculators depending on what type of bet you are doing. I will briefly go over the 3 main types of bets you will be placing when matched betting.
These are just normal bets where you are not betting with a free stake. You may need to place these kinds of bets in order to qualify for a free bet.
Example Offer: Bet £10 and get a £10 free bet.
In order to qualify for the £10 free bet you would first have to make a qualifying bet of £10.00. You could calculate your lay stake using the qualifier bet calculator and lay off the bet on a betting exchange.
The qualifier bet would probably make a small loss of around £0.50 but you would n0w have a £10.00 free bet in your account which you could easily turn into a profit of £7.50.
Stake Not Returned Free Bet
A stake not returned free bet means that if your free bet wins, your returns will not include the free stake.
For example, a bookmaker gives you a £10.00 stake not returned free bet and you bet on a selection at odds of 5.00.
If that selection were to win, you would receive £40.00 back (instead of £50.00) as the £10 free stake is not returned.
To maximize your returns from a stake not returned free bet, you should back and lay a selection at high odds. (5.00 or greater)
You can use the stake not returned calculator to calculate your lay stake and profit for stake not returned free bets.
Stake Returned Free Bet
A stake returned free bet means that if your free bet wins with the bookmaker, your returns will include the free stake.
For example, a bookmaker gives you a £10.00 stake returned free bet and bet on a selections at odds of 2.00.
If that selection were to win, you would receive £20.00 back (£10 winnings + £10 stake) as the £10 free stake is returned.
To maximize your returns from a stake returned free bet, you should back and lay a selection at low odds (less than 3.00)
You can use the stake returned calculator to calculate your lay stake and profit for stake returned free bets.
Warning: If you are going to do all the matched betting offers without the help of any services, read the terms and conditions of the offers very carefully paying special attention to types of free bets (SNR or SR), wagering requirements and withdrawal conditions.
Matched Betting Calculators
- Qualifier Bet Calculator
- Stake Returned Free Bet Calculator
- Stake Not Returned Free Bet Calculator
Sign Up Offers
- Betfair Sportsbook – Bet £10, Get £30 Free
- William Hill – Bet £10, Get £20 Free
- Ladbrokes – Bet £50, Get £50 Free
- Paddy Power – Bet £10, Get £30 Free
- Coral – Bet £5, Get £20 Free
- Betvictor – Bet £50, Get £50 Free
- Sky Bet – Bet £5, Get £20 Free
- Bet365 – £200 First Deposit Bonus
- Totesport – Bet £25, Get £25 Free
- Stan James – Bet £10, Get £10 Free
- Betway – Deposit £50, Get £50 Free
- Betbright – Bet £30, Get £30 Free
This is by no means an exhaustive list of sign up offers. There are plenty more out there that can be found with a quick Google search.
Action Steps Summary
- Find out about Bonus Bagging and Profit Maximiser.
- If you do not wish to sign up for Bonus Bagging or Profit Maximiser you can instead get started by completing the new account offers I have listed above.