What is Matched Betting?


Difficulty: Easy Read time: 3 mins

Matched betting is a simple technique that enables us to profit from free bets and bonuses.

Free bets and bonuses are just some of the incentives offered by bookmakers, as they attempt to attract new customers ahead of their competitors.

For example, Coral are offering new customers £20.00 in free bets if they sign up and bet just £5.00.

We can use matched betting to cover all outcomes and make a guaranteed profit of around £15.00 from that offer! I’ll walk you through things shortly…

Does matched betting work?

Matched betting isn’t a new concept. It’s actually been around since 2004. It’s only in recent years though that things have taken off in a big way.

As with all good things, it was only a matter of time before word got around and everyone wanted a piece of the matched betting pie.

Graph showing the Google trend for 'Matched Betting' between 2004 and 2019.
Google Trend for ‘Matched Betting’ between 2004 and 2019.
Graph showing the Google trend for 'Matched Betting' between 2004 and 2019.
Google Trend for ‘Matched Betting’ between 2004 and 2019.

Hundreds of thousands of people worldwide have enjoyed being part of the matched betting boom, with interest peaking as recently as January 2019.

You’re probably thinking it all sounds too good to be true. When I started back in 2013, I thought exactly the same.

Matched betting IS NOT a get rich quick scheme. Instead, it’s a genuine way of pocketing some extra cash each month by matching bets and taking advantage of promotions.

If you’ve ever seen Martin Lewis on TV explaining how to take advantage of high street and online shop promotions, this is a similar concept.

In fact, matched betting has been featured on his website, Money Saving Expert, along with other reputable publications including The Guardian and The Telegraph.

How does matched betting work?

Matched betting is simply a process of betting on opposite outcomes.

There are two types of bet involved: back bets and lay bets.

A back bet is a bet that something will happen and we traditionally place these at a bookmaker.

A lay bet is a bet that something won’t happen and we can place these at a betting exchange.

Graphic showing how matched betting works?
Graphic showing step 1 of the matched betting process, which is to select an offer.

So, using the Coral welcome offer as an example, we could bet £5.00 that England will win at Coral. We can also bet £5.00 that they won’t win at the betting exchange.

Graphic showing step 2 of the matched betting process, which is to cover all outcomes.

We’ve covered all outcomes, meaning we cannot lose and we’ve bagged ourselves £20.00 in free bets. We then simply repeat the process using the free bets to extract a cash profit.

Graphic showing step 3 of the matched betting process, which is to make profit.

How much do I need to start?

You’ll need some funds to start, which is often referred to as your ‘float’ or ‘bankroll’.

A large bankroll isn’t a necessity, but generally the more funds you have available, the more offers you’ll be able to do and the faster you’ll be able to progress.

It’s perfectly fine to start with a small amount like £50.00 though. You’ll just need to focus on the smaller welcome offers and work your way up.

How much can I make?

If you’re new to all of this and don’t have any online bookmaker accounts already, you’ll be able to make over £1,000.00 profit from all of the bookmaker sign up offers.

If you already have a few bookmaker accounts, that’s not a problem. Beyond the sign up offers, you’ll be able to profit from reload offers.

Reload offers are designed to keep existing customers betting and ‘reloading’ their accounts with funds. Unlike welcome offers where we can only do them once, reload offers occur on a regular basis and enable us to keep the profits rolling in.

I’ve always thought that you very much get out what you put in. If you can commit to around 30-60 minutes each day, a monthly profit of £500.00 is very achievable.

It’s possible to earn even more, but that depends on your bankroll and how much time you’re willing and able to commit.

Next Step
What is a Betting Exchange?

Continue

Comments


  1. Steven Taberham

    Guest user

    Wow…. my friends slowly introducing me into this getting me to put bets on while he lays them… i am slowly getting my head around it and look forward to getting confident enough to go alone so all the profit goes to me (not split with my mate lol). I am currently with Ladbrookes, bet365, paddypower, betway, bet victor, corals and william hill. Can you tell me which other sites offer the most free bets/qualifying bets please. Thanks in advance and keep up the great work. SO EXCITED !!!!

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    1. Matt

      223

      Hi Steven. It’s great to hear you’re getting to grips with things. Just take your time and your confidence will build with each bet you place. Have a look at my Profit Log as that should give you a good idea of which bookmakers run regular reload offers.

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  2. arobbo70

    1

    Really glad I bumped into your site I’ve already made a few quid and really looking forward to getting stuck in to your site for all that free cash your a star best of all it all free information keep up the good work thanks andy

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    1. Matt

      223

      Welcome aboard Andy, will do mate!

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  3. peter alderton

    Guest user

    Hi Matt,

    WOW what a month found your site and signed up with OddsMonkey, just cleared £550 in month 1 with loads of the sign up offers a few arbs but haven’t tried each way arbing yet but looks a good one as loads of 3rds.

    I love the thrill of it knowing i am going to win more than i lose in a week. I think to maximise matched betting you need a bit float at the exchange, you can easily have several hundred pounds tied up and on a busy Saturday you may have 7 or 8 bets on the go and so need the best part of a grand to play the markets.

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    1. Matt

      223

      It’s great to hear you’re enjoying the blog Peter and making money! Each way arbing is an advanced method so my advice would be to continue with the welcome offers and the general offers that I post on the homepage.

      It’s important that you take your time and not rush into things. Once you feel you’re ready you can then move onto the more advanced stuff such as horse racing refunds, each way arbing, extra place offers and acca offers. That’s where we can really ramp up our profits!

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  4. Nik

    Guest user

    Hi Matt,
    Firstly, I really love the blog. As a newbie it is very helpful.
    I am keen to start match betting, however I live in South Africa. Will I be able to bet from my country?
    Thanks

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    1. Matt

      223

      Thanks Nik, pleased to hear you’re finding it useful.

      Unfortunately, South Africa is on the list of countries prohibited by Smarkets…

      ‘2.2 Persons who are residents of; or persons who are located in countries where betting with Smarkets is prohibited (including, but not necessarily limited to Australia, France, Hong Kong, Switzerland, China, South Africa, Denmark, Czech Republic, Belgium, Turkey, the United States, Italy, Portugal, Russia, Belarus, Ukraine and Kazakhstan); cannot register as account holders with Smarkets. United States residents cannot register an account with Smarkets, even if they are located in another jurisdiction. Smarkets may refuse access to its services from any particular jurisdiction at any time.’

      You would therefore need to check the terms of each bookmaker and betting exchange to see if they accept customers from your country of residence.

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  5. Lottoboy

    Guest user

    If you spend £50 and lose £50 and get a free £50 bet, how can that be £40 profit? I reckon that’s £10 loss.
    Please explain

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    1. Matt

      223

      We don’t lose the £50.00 qualifying bet. The beauty of matching our Ladbrokes bet at the betting exchange is that the two bets cancel each other out, meaning we break even, as shown in the table above.

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  6. Lottoboy

    Guest user

    Sorry I don’t understand. Put £50 back bet and £50 lay bet = £100 Get £50 free and then pay lay bets again of £50.
    Where is the profit? Am I missing something?

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    1. Matt

      223

      The profit comes from extracting 80% cash from the £50.00 free bet. I think you may be misunderstanding the lay bet. If you continue on to my Betting Exchange Guide, things should become clearer.

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  7. Kieran

    Guest user

    I’m from Ireland but living in Spain. Can I do matched betting from there?

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    1. Matt

      223

      Hi Kieran. Spain doesn’t appear to be on the list of prohibited countries, so you should be able to get a Smarkets account. It’s then just a case of checking the terms of each bookmaker to see if they accept customers from your country of residence.

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  8. Riza Hope

    Guest user

    Awesome read, Matt!! I recently read about match betting and really keen on doing it. I am from the Philippines and would be living in Vietnam for a while and travel around. Do you think I can do match betting from those two countries? Thanks !!

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    1. Matt

      223

      Hi Riza. You would need to have a read of the terms for each bookmaker offer to see if you meet their new customer criteria. Some bookmakers don’t accept new customers from certain countries.

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  9. Hemant patel

    Guest user

    How do i join 🙂

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    1. Matt

      223

      There’s no need to join Hemant, my blog is completely free to use.

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  10. Dav

    Guest user

    Is it a waste of the free bets if I start now with around £50 or would it be more profitable if I start with more?

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    1. Matt

      223

      £50.00 is enough to get started on the smaller offers Dav. The bigger your bankroll, the easier it is to move your money around, so it depends entirely on your financial situation.

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  11. Heather

    Guest user

    I’m from the US but am living in Wales for the next few months. Would it be hard for me to get into matched betting? Not sure if the bookies require you to be an actual citizen or if it’s just a location thing, because I know some of them require documentation to cash out.

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    1. Matt

      223

      Hi Heather. As a UK resident, you should be able to open accounts with quite a few bookmakers. You would need a UK bank account to deposit funds into your bookmaker/exchange accounts.

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  12. Charlie P

    Guest user

    How has matched betting been around since 2006? What was I doing in 2002 when I bet £10 with ladbrokes and layed my free bet on betfair? I have been matched betting since 2001.

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  13. Chetan

    Guest user

    Hey Matt, really well done blog!

    I am currently residing in India. I have New Zealand Bank account and an Indian one. I saw I have access to several BookMakers and Smarkets websites from India. But I’m not sure if after the exchange rate loss and everything I will still make any money?

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    1. Matt

      223

      Hi Chetan,

      India and New Zealand don’t appear to be on the list of prohibited countries, so you might be able to get a Smarkets account.

      I’m not familiar with the opportunities that are available in India, though I would imagine if the offers are profitable, the exchange rate shouldn’t be anything to worry about too much.

      Good luck!

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