During the Coronavirus Pandemic, we found ourselves short of income from our website business and the real necessity to find something we could do online to at least partly fill the gap with some extra cash. Trawling through the internet I came across Matched Betting. A little sceptical and with no betting experience I trod carefully as I researched the system in great detail …… After a couple of weeks of research I took the plunge with cash to fund my initial bets of just £50 ……
In just over 6 months I’ve earnt £3500 risk free and better still Tax Free!
If you’re interested in finding out how anyone can earn money from Matched Betting with as little as £50 start up costs, I’m happy to share my experience and give you all the information you need to start Matched Betting today and earn some extra tax free cash.
What exactly is Matched Betting?
In simple terms Matched Betting (as the name suggests is where you match a bet to win with a bet to lose) resulting in a system of making money from free bet promotions offered by bookmakers.
To take the risk out of the bet (to guarantee you won’t lose) you do something called “Laying” the bet.
Don’t worry, if it sounds complicated, if I can do it anyone can do it!
In this blog I will explain as simply as I can exactly how it works, run you through an example and then take you through a real promotion that you can copy to make your first cash from a promotion and hopefully set you on the path to earning a decent amount of extra cash from Matched Betting.
Let Me Give You A Simple Example!Let’s say that a betting shop has a joining promotion offering you a £10 free bet if you place a bet of £10 on any event. So, take a horse race for instance and you were to place a bet on Red Rum to win. There are two possible outcomes, Red Rum will either win or lose, so you will either win some money or lose all of the money. But, if you place a £10 bet on Red Rum to win as well as a £10 bet on Red Rum to lose, you won’t win any money, but you won’t lose any either. The two bets would cancel each other out, but as a result you would have met the requirements to claim your £10 free bet without losing any money. Take a look at the diagram below ……..
Matched Betting In A Little More Detail!
Now we all know that in betting there is more than one outcome. For instance, on a football match there are three possible outcomes, a win, a draw or a loss. Because of this and the need to cover all outcomes on a bet in matched betting, we use something called an exchange. Now an exchange is a bookmaker which enables us to put bets on to win, but an exchange also gives you the option to put a bet on something to lose. So, to cover all outcomes of a football match ….. we can put a bet on the team to win with one bookmaker and put the same bet on the team not to win with the exchange (this part of the bet covers both a draw and a loss, as a draw still means the team hasn’t won the match). These two bets are called a “BACK” bet and “LAY” bet. A Back bet is the bet we place with the bookmaker on the team to win. A Lay bet is the bet we put on the same team to lose.
Below is another example using a football match between Burnley and Arsenal. We would be placing a £5 bet on Arsenal. So you can see we place our “BACK” bet with Coral on Arsenal to win at odds of 1.61 and to match the bet we would then place our “LAY” bet with Smarkets on Arsenal to lose at odds of 1.63.
Lets just familiarise ourselves with a few words that you’ll here often used in Matched Betting and exactly what they mean. You’ll come across them often so its worth having them here as a reminder.
“BOOKMAKER” – The bookmaker is where we will place our bet on an event to win!
“EXCHANGE” – This is a bookmaker who allows us to place the bet on an event to lose!
“BACK BET” – This is what the bet is called when you bet with the bookmaker on the event to win!
“LAY BET” – This is what the bet is called when you bet with the exchange on the event to lose!
Placing Our Back Bet!
So lets place our qualifying bet with Coral. You know you need to place a bet of £5 to qualify. Simply click on the ‘1.61‘ button underneath ‘Arsenal’, enter your stake of £5 and click ‘Place Bet. That’s it the BACK bet is placed.
Placing Our Lay Bet!
What you don’t know yet is how much you need to stake at Smarkets to even out your bets. This is where I use my Match Betting Calculator. You simply select the ‘Qualifying Bet’ setting and input the stake and odds from your back bet, plus the odds of your lay bet. The calculator will then tell you how much you need to stake at Smarkets to be as close to breaking even as possible. Based on my Liverpool example, that is a stake of £5.14 and results in a tiny overall loss of 12 pence. You can see this from the calculator results below.
In order to double check that we are placing the correct amounts on our bets we can use a checking calculator (I’ll tell you were you can find this and some other brilliant stuff to help make things a lot easier later in the blog). But for now take a look at the calculator below. You’ll see that I’ve placed in the £10 stake and the 1.61 Back Odds and 1.63 Lay Odds as in the diagram above. Scroll down a little further the part circled in red and you’ll see the “Profit Breakdown” show us that whether we win or lose the bet we will make a 20p loss on our qualifying bet.
OK, so we’ve placed our qualifying bet on the game, once the game is over we will be given a £10 free bet by Coral
Now in order to make money on our £10 free bet we use the same system of betting on a team to win and betting on the same team to lose (just as we have in the demonstration above.
But there is one important thing we have to do. That is to bet on team that has high odds. Look at the demonstration above again and you will see that we bet on Arsenal at 1.61 odds to win and 1.63 odds to lose.
With our free bet we want to look for a team with odds over 5.0
So something like Luton to win at odds of 5.50 and Luton to lose at odds of 5.60
With the odds high we can actually make money from the free bet whatever the outcome.
So we’ll place our bets again with Coral and Smarkets as in the diagram below ………
Below shows the calculator again using the rather clever “Free Bet Mode” (again I’ll show you where to access this neat bit of kit later)
You’ll see that this time I’ve placed the £10 free bet as the amount of the bet and then the 5.50 Back Odds for Luton to win and 5.60 Lay Odds for Luton to lose. Again, scroll down a little further and you’ll see the “Profit Calculator” which this time tells us that whether we win or lose the bet we will make £7.90 on our free bet.
So we’ve run through the basics of how matched betting works, placing a qualifying bet for a promotion and how we can extract a profit from a free bet we receive as a result of placing a bet on a promotion.
Now I’ll show you how to start making money from Matched Betting by running you through Coral’s new customer promotional offer earning you £15 in the process. I’ll also show you how and where you can find well over £2000 new sign up promotions and how you can make regular weekly profits from bookmaker re-load offers.
I’ll see you over in PART TWO
Like This Post? Pin It!
You might also like to read these:
Disclosure: Please note that some of the links in this blog post may be affiliate links meaning that, with no extra cost to you, we earn a small commission if you make a purchase. We recommend only products and companies we use.