If you ever tried betting online, you most likely know, that betting is pretty much just about luck. There is just no way that anyone can keep making money on a regular basis. You will always lose at some point. The majority of people that place bets on sports events are in loss.
So, how is matched betting different? The main advantage of matched betting as opposed to regular betting is that, there is NO RISK INVOLVED! You will know exactly how much you going to make from each bet before even placing it.
What are you going to learn in this article:
- What is matched betting
- Who is matched betting for
- How much can you make with matched betting
- How to do matched betting
- Pros of matched betting
- Cons of matched betting
- Best way to learn matched betting
What is matched betting?
Pretty much every single online bookmaker is offering free bets to get new customers, or to make their regular customers bet more and more often.
Here’s an example of that sort of offer – Coral signup offer. You create your account, deposit £5, place a £5 bet and they will give you £20 FREE bet.
The problem is – it’s gambling. And gambling is not something matched betters do, because what we want is to make profit every time on a regular basis.
So to put it simply: Matched Betting is extracting that free bet so we can withdraw it without taking any risk.
Who is matched betting for
Unlike regular betting(gambling), you don’t need to be a sports fan, or even have any knowledge of football or horse racing rules whatsoever. I personally have never watched a single game of football in my life, yet i bet mainly on football.
Matched betting isn’t really betting. You have to place bets to extract money from free bets, but the actual outcome of any particular game you bet on means nothing to matched bettor. You will get your profit no matter what the outcome of the is.
How much can you make with Matched Betting?
That depends on how much time you can invest. I personally spend about an hour every day, and I make between £700-£1500 per month. That’s not too bad for some 30 hours per month.
The more time you spend the more money you make. Simple as that.
How to do matched betting
What matched bettors use to make sure they never lose any money is bet exchange(Betfair being the most popular one) to LAY their bets placed on bookmakers website. When you Lay your bet, you bet against the same bet you placed with the bookmaker. Not making much sense? Just bear with me, I will give you an step by step through my first matched bet bellow.
I signed up with Oddsmonkey.com(that’s where you get your offers) for a free account. Then I opened an account with Betfair.com(bet exchange site). And I also opened an account with Coral and deposited £5. I then used Oddsmatcher on Oddsmonkey to find a football match with close odds between Coral and Betfair.
The reason for that is that the closest the odds are between Betfair and Coral the least amount of money you’ll lose from this first qualifying bet(bet that will qualify you for the free bet).
I decided to bet on Leeds v QPR match. I put down £5 on Leeds to win with odds of 1.91. The same match on Betfair had odds of 1.95. I then used the bet calculator on Oddsmonkey to figure out how much to bet on Leeds not to win(which basically cancels out the risk from the bet placed with Coral for Leeds to win). The calculator told me to lay £5.03 bet on Betfair.
Leeds lost and i lost my £5 with Coral, but i won £5.03 on Betfair. So I broke even, but i got the FREE £20 bet from Coral. So I repeated the process. I placed a £20 bet with Coral on Deportivo v Real Betis to end Draw at odds 3.25. Then I used the calculator again and placed £13.43 with Betfair for the match not to end Draw with odds 3.4. I won £45 from my Coral bet and lost £32.24 with Betfair, leaving me with £12.76 profit. And it only took me about 5 minutes. That works out over £150 an hour!
Pros of matched betting
- it’s easy once you learn the basics
- it’s tax free
- flexible hours(it’s up to you how much time you invest and how much money you make)
- low startup cost(you can start with as little as £50)
- guaranteed long term profit(there’s always plenty of free bets)
- risk free trial(Oddsmonkey and Profitaccumulator offer free trial that enables you make you first £45 profit)
Cons of matched betting
The only time you could end up losing money on a bet is user error. If you for example Lay your bet on the wrong game you’re not covered. At that point you are just gambling. So double checking or even triple checking everything before placing your bets is very important. So unless you make a mistake there is ABSOLUTELY NO RISK!
Best way to learn matched betting
The absolutely easiest way to learn matched betting, is to signup to Oddsmonkey.com or ProfitAccumulator.co.uk. They both have a free account that literally takes you step by step through you first two signup offers. That will teach you the basics of matched betting(a lot better then my example). Plus, you will make your first £45. So even if you decide, that matched betting is not for you(but who doesn’t want free money?), you can always walk away with extra £45 in your pocket.