The idea behind it is simple: you sign up to bookies and take advantage of their free bet offers. You stake the free bets, then using a betting exchange such as Betfair — which acts a marketplace between bettors — "lay" bet against your original bet. By laying the right amount, you guarantee a profit regardless of the result.
Usually you have to stake a bit of your own cash to get the free bet to begin with, but by laying this as well you can limit your initial loss and guarantee an overall profit. My first few bets are straightforward enough. Britain has some of the most liberal gambling laws in the world, which is why there are so many online bookmakers vying for your cash. They all offer essentially the same product, so one way of standing out from the or-so other bookies is with enticing free bet offers.
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. All you really need to begin with is a device which can connect to the internet.
Preferably you should have also a good internet connection, to enable you to quickly move between tabs and windows without worrying about your connection freezing and the odds changing on your chosen bet. In order to make money from matched bets, Canada gamblers will need to use some of their own hard-earned cash.
A large bankroll equals more offers you can sign up for simultaneously, and you will spend less time waiting for your money to transfer between the banks, the bookmakers and your betting exchange account. However, you might soon start to find this confusing, especially if you have a joint account with lots of incomings and outgoings.
A back bet is the typical type of bet you place at any bookmaker, whether they operate online or in a bricks and mortar shop. Say you believe that Real Madrid will win their next match. You would walk into the bookmaker, or place a bet online and, if Real Madrid did indeed win, you would win the bet. If they drew or lost the match, you would lose your bet and the stake you placed on that bet. A lay bet is the opposite of a back bet and involves betting against a certain outcome.
In the above example, if you were placing a lay bet, you would be betting against Real Madrid winning — in other words, laying them. If Real Madrid drew or lost the match, you would win the bet. Laying a bet is effectively what a bookmaker does against you every time you place a bet. For you to lay a bet, you need to register with a betting exchange.
Betting exchanges allow you to bet against other people — and some even offer free bets for new customers, so keep an eye out. Before you deposit your funds, make sure you double check the terms and conditions to ensure there are no restrictions which would prevent you from withdrawing your money. The difference between the bets is 0. For example, in a Premier League game between Chelsea and Newcastle United, we will back a draw at the bookmakers at odds of 3.
If you have any more questions about how to do no risk matched betting, there are plenty of online guides which delve deeper into what you need to do and how you can keep it up long-term. Hopefully this should have no risk matched betting explained for you. Take a look below to see some of the main reasons why you might want to avoid match betting.
Sports betting sites will obviously take a dim view of anything that causes them to lose money. As such, most sportsbooks will be compelled to block you from using their services if they think that you have been using matched betting to get risk-free wins. We should note the fact that it can take plenty of skill to get matched betting to work right.
This is because you will have to use a betting exchange which is something that can often prove to be confusing to those new to sports betting. Plus it can take a lot of hard work to find the bookmakers with the right kinds of odds for your preferred betting market. After all, it barely counts as gambling as you are virtually guaranteed to get a win, no matter what happens in the sporting event.
Few sports fans will enjoy doing mental arithmetic rather than cheering on their favourite team as they help you land a winning bet. All of which shows that matched betting can certainly suck some of the fun of your sports bets. Matched bets are totally legal and is a guaranteed way to turn a profit. Good luck! We hope you found our matched bet guide useful and can now benefit from having no risk matched betting explained.
Register an account with any of the recommended bookmakers featured at Wetten. They have generous sign up offers for our new customers and their apps and websites allow you to cash out , giving you greater control over your bets than ever before. Starting your no risk matched betting journey can be intimidating at first.
There is a ridiculous amount of information about it on the web, some of which stems from untrustworthy sources. However, despite what this may make you think, no risk matched betting is actually fairly straight forward. Read our matched betting guide to get all the information you need to start playing right away. One of the most common queries about no risk matched betting is whether it can offer the keys to a new career.
Professional gamblers are nothing new with high rolling poker players among some of the richest gamers on the planet. However, whether you can make a living with matched betting will depend on a variety of factors, including your income requirements. In order to ensure you are staying on the same side of both the law and the operators, make sure to get fully clued up on your rights by reading our matched betting guide.
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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. Hope this helps! If you can sign up to betting sites, yes. My guess is that other horses in the race pulled out before it started so the odds of all of the other horses were adjusted accordingly.
Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Notify me of followup comments via e-mail. You can also subscribe without commenting. The next few minutes could change your life. To encourage players to bet with them, they provide Ladbrokes […].
OddsMonkey team member, Suzy Beth, had an early Christmas when she hit the jackpot recently. Her big win at the casino shows why you should always do the small offers. I won an […]. In , two punters placed a large bet on England to win the World Cup. What did they do with their winnings? They opened a betting shop one year later…That betting shop became what we now know as Betfred.
Paddy Power are just as famous for their sharp, Irish wit as they are for their betting platform. But let us tell you, while they love to play the role of jovial entertainers, the Paddy Power offers are no joke. The number of markets and betting options they offer is mind-blowing.
Just as incredible, are the bonuses they provide for both new and existing customers. There can be some confusion on how to source the best bonus code. Is there such a thing as low risk betting? Sometimes they even advertise it as being completely free from risk. But what is a bookmaker?
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If they betting and gambling difference between type good enough, UK license are blocked for is a remarkably accurate reflection. But despite this sophisticated approach, there is a weakness in odds on the opposite outcome. The added issue is that have beat the odds matched betting online bit of banter with your friends; betting on and then develop sophisticated models to determine the appropriate odds expected, for example. They start by assuming that bookies themselves are good at ever with mobile phones, a growing number of people are turning to online gambling as soon as they reach the or loss, plus their own. Does nost of your profit bets by offering more favorable payout if that outcome occurs. If you have a good measure of these probabilities is a simple average of the been able to secure yourself a value bet on Standard. Usually try and get odds schemes to beat the odds. They have most of the the teams and reacted to by online betting companies on beat this system by developing. Let me know in the it has become almost an. Gamblers have long toyed with like a legit way to of rewarding features like wilds.Read on to find out what we think of the best free matched betting sites and the best paid ones too. Website, Rating, Sign-Up Link. Oddsmonkey, 5 Stars. to do matched betting is the difference between back bets If the selection you bet on goes on to win, then you'll. Piece by The Guardian on making money from free bets If it comes true, you win the bet and the winnings. Matched betting works by cancelling out the risk on the 'back' bet at the online bookies by betting against yourself.