Place Your Qualifying Bet
The next thing you need to do is place your qualifying bet. To make sure that we don’t risk much money on this bet, we will matched bet it to ensure all outcomes are covered for a very small loss, known as the qualifying loss. We will do this by finding a close match on a betting exchange, to lay our qualifying bet.
Find a Close Match
To minimise your loss on the qualifying bet, you want to find odds that are close together at the bookmakers and the betting exchange. If you are a Premium Member, we scan all the markets for you in real time, to bring you all the best matched bets available. We even tell you how much to bet and track your profit and balances for you.
If you are not a Premium Member, you can still work out a qualifying bet using our matched betting calculator and we’ll show you below how to do it.
Open the bookmaker site, in this example we are using William Hill. Locate a big sporting event. Here we are using the Premier League.
Next Open up a betting exchange, in this example we are using Betfair.
Now open up the Matched Betting Calculator
You want to look for an event that is fairly low odds and where the odds are close together at the bookmaker and the betting exchange. For this example we have chosen Chelsea to win at 1.14 and 1.18 on the exchange.
The next thing to do is enter these details into the matched betting calculator, it should look like this.
Enter the back stake as £10 and the odds, which in this case is 1.14 at William Hill.
Enter they lay odds for Chelsea, which in this case is 1.18
The calculator will show you how much liability is required to lay the bet. Make sure you have these funds in your exchange account.
As you can see we will lose £0.42 regardless of the result, but this will unlock £30 in free bets, once our qualifying bet has settled.
The next thing to do is to place your bet at bookmaker and then and the betting exchange. (always place the back bet BEFORE the lay bet)