PROVIDING YOU WITH ALL THE BEST BETS
Since the advent of betting exchanges the matched betting phenomenon has exploded. More and more people are jumping on the matched betting bandwagon to earn free profits from bookmakers. Chances are you know someone who has. Which is probably why you are reading this article.
Free money? Betting on both eventualities to cover all outcomes? Making profit from bookmakers? How can this be legal?
Matched betting is 100% legal. Otherwise, how could betting exchanges exist?
Betting Exchanges like Betfair and Smarkets allow us to lay bets against outcomes. This is perfectly legal and open to anybody in the UK and beyond (Betfair currently operates in over 50 countries).
Bookmakers allow us to back bets for outcomes. There are scores of them - literally hundreds. Betting on sporting events has been fully legal since the 1960s, thanks to the Betting and Gaming Act 1960.
It is perfectly legal to set-up an account with online bookmakers, and it is perfectly legal to sign-up for an account with betting exchanges. Having accounts with each allows us to back and lay both outcomes, which is the whole concept behind matched betting.
The profit comes because bookmakers are viciously competitive. To compete with each other these bookies offer incentives to punters to keep betting. “Place a bet and we’ll give you a bet free!” It’s no different from supermarkets engaging in price wars to encourage shoppers to their tills.
By placing back and lay bets on the initial qualifying bet and then the free bet, we will make a profit for free. They are bets we can’t lose.
It’s a very simple idea. It works. And it’s completely legal.
But you might still be wondering how to do matched betting, and with good reason. Haven’t we just said there are hundreds of bookmakers? Can we make profit from all of them? Yes we can. And here’s how.
Making Legal Profit from Matched Betting
As we’ve said, the principle of matched betting is betting on both outcomes. And it’s 100% legal. There are plenty of video tutorials out there that go through this process step-by-step. Sites like OddsMonkey make matched betting easy by crunching the numbers for us. Tools, like a free OddsMatcher gives us the best matches possible to make the highest amount of profit.
We don’t have to sit there with a paper, pen and calculator trying to work odds out or find outcomes with the closest match. Bonus, right?
So you think this is for you and create a free OddsMonkey account. Then set-up an account with an online bookmaker to back a bet and an account with a betting exchange to lay a bet.
Your OddsMonkey account lists the Beginner Bonuses available to you. You click on any one of these that takes your fancy - for example a Paddy Power or William Hill beginner bonus - and you’re in to the offer page.
Your eyebrows raise as you notice the potential profit to be made from the offer. For example, a recent BetFred £30 Free Bet offer lists a potential profit of £24. (It is rare that the profit from each bet will be 100% - remember we need to make the initial qualifying matched bets in order to land the free bets. These bets might make a small loss, and so might the subsequent free bet.)
But - and this is the crucial point - because we are betting with free money given to us by bookmakers we guarantee ourselves profit.
You select one of the bets in the list - Let’s say you pick Manchester City versus Manchester United. A derby and a tasty game.
The calculator lists the Event, the Outcome, Back Stake, Back Odds, Lay Stake, Lay Odds and Profit. We click the links to the bookmaker and to the betting exchange, input the Back Bet and Lay Bet, and sit back and wait for the result.
You don’t even have to watch the game if you don’t want to. Plenty of matched bettors aren’t even interested in sports. They are interested in making free legal profit from matched betting.
Following the game either the back bet or lay bet has won and you'll be able to calculate your profits. Rinse and repeat and you're well on the road to making completely tax free legal cash every day.
Now, how easy was that?