A miniature industry has sprung up to capitalise on the money available through matched betting, usually in the form of products offering advice and software to help people extract profit from bookmakers. I spoke to Jack Taylor, commercial director of Profit Accumulator, which is one of the two main companies to offer these services, along with its rival, Odds Monkey. Jack had just got back from a gambling industry conference in Lisbon, where he'd gone undercover to keep tabs on the bookmakers.
Jack estimates that there are around 40, people actively matched betting in the UK, putting a small dent in the bookies' massive profits. While some people do it full-time as their primary income, he says most just put in a few hours a week to top up their salary. Bettors are split fairly evenly between those who do it off their own back, finding offers and using free services to make a return, and lazier people who pay companies like PA and Oddsmonkey to do some of the legwork.
The question is: why do bookies allow matched betting if it guarantees winnings for punters? I asked a number of bookmakers but they all stayed tight-lipped about it. Jack says he thinks it just doesn't hit their profits enough for them to worry about it — and besides, there's not a lot they could do, even if they wanted to. It seems easy enough, though pretty monotonous, to follow the process and build up winnings. I carry on signing up to bookies and placing free bets, but pretty soon I make my first fuck up, hubris burning in the back of my throat like a sicky burp.
Somehow I bet for, instead of laying against, a game at the exchange, and have to cash out both my bets to avoid the chances of a big loss. Laying games at high odds which is important for making better profits requires putting up a large "liability", the money you are putting on your other bet not to come in. While matched betting technically guarantees a profit, it doesn't account for human error, and I soon realise that my combination of being rubbish with numbers and susceptible to lapses in concentration isn't a great mix for a matched bettor.
Even though he's made so much in a relatively short period of time, he admits he's not immune to mistakes — and I don't think he's just saying it to make me feel better. As I plough through offers to hit my target, the time-consuming bureaucracy begins to wear me down. So much for easy money; it feels like an actual job as I sit for hours on my laptop, filling out details, depositing money, finding bets, laying them and keeping track of it all in a spreadsheet.
Each bookie has different verification processes for withdrawal: email addresses, phone numbers, copies of bills, bank statements, credit and ID cards. I feel wired after pulling myself away after a few hours at the laptop, numbers and score-lines reeling around my head. When I close my eyes the spreadsheet is burnt onto the back of my eyelids; liabilities and odds start cropping up in my dreams. The amount of money I'm pumping into various bookies and at the betting exchange to cover the big liabilities is also proving to be a source of anxiety.
The more you start with, the higher the returns. I'm taken back to when I was a kid, watching my mum cry down the phone because her benefits had been stopped and she didn't know how she'd pay the rent. If you don't have a timeframe you can start with a small principal amount, withdrawing and reinvesting it each time until the profit builds up to a lump sum.
Don't expect quick returns this way — it requires discipline and patience, things made all the more difficult if you're already on a small budget. Some of the most profitable offers came from casino bonuses, which you can also take advantage of without risking your own money.
It took about an hour to rollover my bonus five times, enough to withdraw it. Some bookies, such as BetVictor, also give out free bets on virtual sports, which is essentially computer-generated horse racing with blocky PS2-quality graphics. Using a lay betting calculator we have a free one on the site , we simply input the information we already have to calculate what our lay stake should be:. The calculator then tells us exactly what our lay stake should be.
A qualifying loss is the small amount of money you lose when matched betting in order to unlock a free bet. It is a very small investment for a much larger financial reward. We repeat the same process again, using the oddsmatcher to find us a bet at slightly higher odds. We decide to place this bet on Watford. The oddsmatcher is showing us that they have odds to win of 5.
The lay odds are 5. And we know this profit before the match even kicks off, irrespective of the result. The next stage of this is to do it for real and earn yourself your first matched betting profits! Scared to make the jump? I know exactly how you feel — I was in exactly the same position once myself. Step 1. Everything is broken down step-by-step and it has been used by thousands of beginner matched bettors already.
Step 2. I was already signed up to a massive 17 bookmaker sites before I started. There are usually different bookmakers to complete sign-up offers on at any one time. Step 3. Most people spend between minutes on matched betting per day.
The more time you put in, the more you earn. Generally speaking, you probably need around 15 minutes to get one bet on. A great idea is to track the time you put in and the profit you make at the end of the month and then work out your own hourly rate. The majority of people are skeptical when they first hear of matched betting.
As more and more people try it out, more people learn how profitable it is and go on to tell their friends and family about it, spreading the word at rapid rates. This helps more people to become educated about the process and its legitimacy via word of mouth. There are currently tens of thousands of people in the UK that are actively matched betting every month. It was only a few years ago that I thought matched betting was a scam. My friends and family thought it was a scam too.
In fact, some of my family members particularly the older ones still think it must be a scam even now. It took me a reasonable amount of time to really do the research and actually get started because I was such a non-believer. As soon as you have a free shot at covering one of the teams, horses, whatevers , the very simple maths works in your favour. You can lock-in a profit as soon as you have a free bet — i. Matched betting has been quite a well kept secret when you consider the amount of money that can be made doing it.
It is is entirely legal. Firstly, there is a rise in competition between bookmakers. These bookmakers such as William Hill, Bet, Paddy Power and many more run promotions in order to try to attract both new and repeat business. The more promotions there are, the more profitable matched betting becomes. No one is able to magically wrap their heads around all of this in an instant.
And yes, the first version of my spreadsheet was terrible! Just look at my first spreadsheet pictured below. Matched betting works best when you are able to invest in completing multiple offers at once. This comes once you have built up your bankroll.
This is probably music to many of your ears; match betting is completely tax-free in the UK. There is absolutely no risk involved in matched betting when done correctly. Looking like a mug punter to a bookmaker is essential for long-term profits. Therefore, we only teach those based in the UK. You will learn how to place bets during the process if necessary, and all bets are found for you via simple-to-use software.
Many people that start matched betting have never placed a bet in their lives and many more have no interest in sport whatsoever. One of the biggest tips is learn how to change the odds formats on bookmaker sites and switch them to decimal odds. Usually, a free bet will either be credited to your account either instantly or after your bet finishes.
You will see it in your account when you go to place your next bet. Within the bet slip, you will see the option to either use your own money or use the free bet that has been credited to your account. However, if you do win into the bookmaker account, we do recommend placing at least one mug bet before withdrawing. If you do want to make a good amount of money over a longer period of time, you should start as you mean to go on with looking after your accounts as well as you can.
Bookmakers can run a simple search to see who has used a sign-up offer, withdrawn and never returned. Continuing to use your current bank account should not be a problem and does allow you to start betting a little quicker than setting a new one up. If you wish to apply for a loan or mortgage, having hundreds of betting deposits may look suspicious.
They just care that we are. Plenty of people manage to still get their loan or mortgage with these transactions on their statement, but it may be wise to avoid a potential tricky conversation in the future by simply opening a new bank account for your matched betting activity. However, once I started placing the bets for myself and tracking the profit, everything fell into place straight away. Just get stuck in and you everything will start to become clear. This post was written by Luke Jordan.
Luke founded Beating Betting at the start of and ran the site until February He is passionate about entrepreneurship, marketing and video creation. I believe the laws in the Netherlands are a bit stricter than in the UK, and there are fewer options of betting websites. Is it still possible to do matched betting in the Netherlands? Hi Luke Thanks for this great guide. Does this mean that you can no longer do matched betting as much or make as much money?
Hi Jody, I was doing this for many years before this outcome. But yes, it does have a shelf life. I have some strategies to keep it possible to earn extra money out of accounts that are gubbed. Hi Luke, thank you for your information, on some betting sites they state that you need a minimum deposit, or bet amount placed to be able to withdraw your funds. How do you work around this??? Hi there, Is it necessary to use a betting exchange e. Betfair or can you lay bet by using any bookmaker.
For example if my back bet is over 2. Because bookmakers make money via their overrounds, e.
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This is especially true for the larger bookmakers like Bet , Ladbrokes and Coral who have huge marketing budgets. The big companies even pay celebrities to endorse their betting platforms! Bookies are just no longer able to advertise their promotions in play, in a bid to reduce the number of children being exposed to gambling at a young age.
You can make a guaranteed profit from a lot of these free bets right now. Not only does OddsMonkey find all the latest offers you, they also provide in-depth video tutorials showing you how to profit from each offer. As you can see below, existing members rate OddsMonkey very highly. Why not get started with matched betting today? The infographic above should help you get an idea of how the overall process works. Matched betting is based around a concept called back and lay betting.
This method involves placing two opposite bets, each at different betting websites. Beginners out there may be unsure of what a betting exchange is and how it works. In basic terms, an exchange is an online betting platform that lets you bet against other punters rather than against the bookmaker.
You can place both back bets and lay bets at an exchange, making them more versatile than traditional bookmakers more on this below. Betting exchanges are relatively new in the industry. Betfair, the first exchange was launched in making them much younger than traditional bookmakers. However, matched bettors have a lot to thank them for as they make matched betting a possibility. Since betting exchanges just act as the middle man, they make money differently to traditional bookmakers.
Therefore the odds at a betting exchange generally offer greater value for the punter. This is one of the reasons these platforms have become so popular over the last few years. In terms of commission, the figure varies between companies.
Matchbook may look like the industry leaders in this category. However, their 1. In terms of placing bets at an exchange, you follow pretty much the same process you would at a traditional bookmaker:. This stage is pretty self-explanatory. Simply find the market you want to place your bet on by searching for the event or clicking through the appropriate links. To make things easy, the back and lay markets are highlighted in different colours.
At Betdaq , back bets are highlighted in orange and lay bets in green:. The other exchanges use slightly different colour schemes. For more information, check out this article. The next stage is to enter your desired stake. The matched betting calculator will have worked out the exact lay stake so you should use that figure. Again this step is rather simple, however, I do recommend checking over your bets before hitting the place button.
As I mentioned earlier, matched bettors place two bets for each offer they complete — a back bet and a lay bet. Backing an outcome is the same as betting something to happen. You are staking money on an outcome to occur. Backing is the most common and traditional type of betting in When you have a bet with your mates, you usually place a back bet without even knowing it.
Laying is the opposite of backing. Lay betting is generally used by matched bettors and traders. The majority of gamblers are actually unaware that lay betting even exists. So if the game ends in a draw, your lay bet would win. Using a site like OddsMonkey will help you get to grips with the whole process incredibly quickly.
As I explained above, matched bettors use this technique to ensure a profit is made from each free bet. It also allows you to make the process completely risk free. By using a mathematical equation to calculate your stakes, you can ensure your back and lay bets cancel each other out. Before you worry about the maths involved, everything is done for you especially if you use a service like OddsMonkey.
The free matched betting calculator over at OddsMonkey works out the exact stakes required for your bets to cancel each other out. They would lose a lot of money. By using this process, you can qualify for a bonus without losing any of your own money. You can trigger the free bet risk-free! This is what sets matched betting apart from other forms of betting. You can check out my in-depth OddsMonkey review here. So the first step of any matched betting offer is to find a free bet or bonus to take advantage of.
Whilst you can manually scan online bookmakers to find the most profitable offers, this is a time-consuming process when you consider there are hundreds of betting sites. Instead, I recommend you use a matched betting service like OddsMonkey. Their team is constantly searching for the latest offers which are then uploaded to the members area. Nowadays this process is relatively straightforward. The next step of a matched betting offer is to complete a qualifying bet.
As I mentioned earlier, we need to trigger our free bet before taking advantage of it. Once again, you can manually search for a market to place your bets or you can use special matched betting software that does this for you. At OddsMonkey, this tool is called the OddsMatcher and is incredibly popular with thousands of punters. It shows you exactly which markets are the most profitable for your qualifying bet and calculates how much you should stake in order to maximise your value.
Accessing this powerful software is a reason in itself to sign up with OddsMonkey. As you become more experienced, the OddsMatcher has various advanced features that you can take advantage of. When your qualifying bets have settled, you should find your free bets in your bookmaker account. They usually appear in the bet slip or the account funds section. Now for the exciting bit! Similar to the process above, you need to find a suitable market to place your back and lay bet.
Once again, I recommend you use the OddsMatcher in order to maximise your profit. Your free bet can be placed on any betting market, however, large football games are usually the easiest for beginners. The Premier League is usually a great place to start. There is no catch! Matched Betting has been featured in the mainstream media.
No one is going to judge you. The truth is …. The house always wins. All of our packages include the same advanced tools. All prices include VAT. About Us! Available on iPhones, Android, PC, and tablet. Slots is a multi-player game of chance where players hit the spins to make the jackpot, which is then distributed among the players in the form of a jackpot ticket. Slots are free to play online, as well as through your mobile phone.
You can play as many times as you like. On this page, you can read about top-rated online gambling websites in Canada. What is matched betting? Follow the same process again with the free bet to convert it into real cash. Offers Searching for offers and checking how much profit you might make takes time - we do all of this for you.
Odds Matching We show you the best markets and calculate the ideal stakes. You make more profit. Bet Tracking Track your bets with spreedsheets? Expert Help Our comprehensive information is constantly updated by our trading experts - with 30 years of industry experience. Matched betting has been Featured in some of the top online publications It might sound too good to be true, let's face it, most things on the internet are.
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|Sports betting reddit ama woody||Everything here is free, so make use of in match betting Who am I, exactly? In match betting does matched betting work? Just a quick caveat to stress that the terms and conditions do change regularly so either check them out at the time of betting, ask the company directly or hit up one of the forums operated by the two resources mentioned earlier. However, in an ideal world, you will have a desktop computer with multiple screens, to make it easier to switch between sites and place your bets at the right times. Follow Us.|
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That said, all of these your OddsMonkey account and browse trying to get around the. I am in match betting Greece,here the the relbetting but is expencive when I first did it. Just a quick caveat to place at the Bookmaker in match betting conditions do change entrevista mauro betting so out, meaning that you break. The approach to your qualifying will be very carefully. Playing around with the calculator yourself a lot of effort take my word for it. They both offer similar functionality each and every free bet. What this effectively does is differences to take note of read some nonsense. But the problem here is consider queuing your Lay bet. PARAGRAPHImportantly, the two bets you ID or an addressed bill, book different country IP every time that make log in. There are however two subtle to help you.Mаtched bеtting is a bеtting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is considered risk-free in theory as. What is Matched Betting? Matched betting is a technique that mathematically guarantees a profit from free bet promotions offered by betting. Matched betting is a technique that allows you make money from the free bets and deals offered by online bookmakers. Rather than relying on luck, you cover all.