Matched betting is the process of betting on every outcome of an event to guarantee a profit regardless of the result. This is accomplished via the use of bonuses and incentives offered by the bookmakers in the form of signup bonuses and reload offers.

The process of matched betting involves you placing a back bet at a bookmaker and a lay bet at a betting exchange using your own funds, with the effect being that each bet cancels the other one out. You do this to unlock a bonus. This process is then repeated with the free bet, but because the back bet can now be placed using a bonus, a player can profit regardless of the result, because the individual is only using funds to place the lay bet and not the back bet . Using a matched betting calculator, or matched betting software an individual can work out exactly how much to lay, so that up to 80% of the free bet can be extracted as as cash.

The video below provides an illustration of the process and how it works.

 

Helpful Links

  • What is a Back Bet
  • What is a Lay Bet
  • What is a Betting Exchange

How Does the Matched Betting Process Work?

To access bookmaker sign up bonuses, you will normally need to complete one of a number of actions. It will nearly always  involve you depositing your own funds in order to get access to the bonus. Two popular bonuses are as follows:

Bet £10 and Get a £30 Free Bet

Betfred Welcome Offer

Here you will deposit £10, and place a £10 bet, you will then receive a £30 free bet.

  • Step 1 - Place a Qualifying bet of £10 at the bookmaker
  • Step 2 - Place a lay bet on the same market at the betting exchange
  • Step 3 - Wait for the bonus (this can be when the qualifying bet settles)
  • Step 4 - Place your £30 free back bet at the bookmaker
  • Step 4 - Place a lay bet on the same market at the betting exchange
  • Step 5 - Receive your profit

Deposit £200 and Get a £200 Bonus - Must Make £1,200 worth of Bets

Bet365 Welcome Offer

With this offer you deposit an amount and receive the bonus instantly, you must then complete wagering before you can withdraw it.

  • Step 1 - Deposit £200 you will be given a £200 bonus bringing your betting total up to £400
  • Step 2 - Place back a back bet of any amount (up to £400)
  • Step 3 - Place a lay bet at the betting exchange on the same market
  • Step 4 - Continue this process until wagering is completed or all the money is lost at the bookmaker and in your exchange account

How to Decide What to Bet On

Choosing the right markets to bet on is essential when you are matched betting. To maximise the profit from free bets and minimise your losses on qualifying bets, you want to find odds that are as close together as possible on the bookmaker and the exchange. The closer together the odds are, the lower your loss will be on the qualifying bet, and the greater the profit will be on any free bets. If the odds are lower on the betting exchange than they are on the bookmaker, this is known as an Arb.

Yesbets Whilliam Hill Matches

To calculate the profit/ loss on a matched bet, you can either look up the odds on each market yourself and  input them into a matched betting calculator to work out the profit or loss, or you can use matched betting software, which scans all the markets and brings you the bets where the odds are closest together, this can save you lots of time and increase profits over the medium term. Yesbets offers this service for the majority of signup and reload bonuses. Try it for free.

Helpful Links

  • What Is an Arb?
  • Matched Betting Calculator
  • Matched Betting Software
  • What is Wagering
  • Bookmaker Signup Bonuses

Common Misconceptions About Matched Betting

When a lot of people first hear about matched betting it’s fair to say that a rather large proportion think that it’s too good to be true. After all the majority of people take the view that gambling is a mugs game where the vast majority of punters lose over the long term.

The first thing to say is that matched betting, technically is not gambling. The word gambling means either:

  • To play games of chance for money
  • To take risky action in the hope of a desired result

With matched betting, because you cover all outcomes of an event, nothing comes down to chance and there isn’t any risk if the process is followed correctly.

Another misconception is that matched betting is illegal. We can confirm that matched betting is completely legal and what’s more it’s tax free as well. For more information on the legality of matched betting, read our article, is matched betting legal?

Helpful Links

  • Is Matched Betting Legal?
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