Matched Betting for Dummies – Ultimate Matched Betting Guide

Welcome to the ultimate matched betting guide: matched betting for dummies. Updated for 2018.

In this guide, I’ll share with you how you can go from dummy to pro. It isn’t rocket science, it just takes a little patience and you can make tax-free cash each month.

Matched Betting for Dummies

Contents

1.0 Matched Betting for Dummies Intro
1.1 What is Matched Betting?
1.2 Risk-Free Betting?
1.3 Is it Legal?
1.4 The Jargon Buster
1.5 Bookmakers and Betting Exchanges
1.6 Bonuses – Offers from Bookmakers and Betting Exchange
1.7 Is it Tax-Free?
1.8 Can I trust Matched Betting?
1.9 How much can you make from Matched Betting?

2.0 Matched Betting for Dummies Tools
2.1 Odds Matching Software
2.2 Matched Betting Calculator
2.3 Matched Betting Offers
2.4 Matched Betting Services

3.0 Making Money (Manual Method)

4.0 Making Money (Recommended Method)
4.1 The Qualifier Bet
4.2 The Free Bet
4.3 The Example

5.0 Matched Betting Guide Tips
5.1 Use a Matched Betting Service
5.2 Keep a list of usernames and passwords
5.3 Keep track of where your money is
5.4 Running more than 1 account
5.5 Only use your debit card
5.6 Only use your home address

 

1.0 Matched Betting for Dummies Intro

Welcome to the ultimate matched betting guide: matched betting for dummies. This is a one-stop-shop to turn matched betting beginners into matched betting pros. All the advice in this guide is completely free, all I ask is if it has helped you that you share it with your friends to help spread the word about matched betting.

1.1 What is Matched Betting?

Matched Betting is a form of risk-free online betting that guarantees a profit when the correct steps are followed. If you need more information on Matched Betting, check out Matched Betting Explained.

1.2 Risk-Free Betting?

I’m completely aware that this is a complete contradiction. We know that the house always wins with gambling, but this is not gambling! It is a system where you extract profits from Bookmakers and Betting Exchange bonuses. It’s risk-free betting because if you follow the steps, you are guaranteed a profit. The only possible issue, if from human error, but with patience and experience, this is avoidable.

1.3 Is it Legal?

Yes, it is completely legal. All the information here is following a tried and tested method. It’s legal because there is no element to matched betting that is not legal.

1.4 The Jargon Buster

If you are completely new to matched betting, or even to betting in general, then there will be some jargon that you will need to learn in order to get the hang of matched betting. Below are four of the main terms, if you want more information

  • Back Bet – A bet that something will happen
  • Lay Bet – A bet that something won’t happen
  • Bet Stake – The amount a back bet will cost you to place
  • Bet Liability – The amount a lay bet will cost you if you lose your bet

1.5 Bookmakers and Betting Exchanges

The two types of online betting sites you will be using are Bookmakers and Betting Exchanges. Bookmakers are traditional betting sites such as Labrokes and Coral. Bookmakers let you place back bets. Betting Exchanges are a newer breed of betting site such as Betfair. Betting Exchanges let you place lay bets.

1.6 Bonuses – Offers from Bookmakers and Betting Exchanges

Bookmakers and some Betting Exchanges use offers (free bets, new customers, repeat custom offers) inorder to stand out from their competition and to attract new customers. The offers from Bookmakers and Betting Exchanges usually require you to place a bet on at certain value, at certain odds, in order to receive a free bet.

It is these offers from bookmakers and betting exchanges that we call bonuses. It is these bonuses that we use to make guaranteed profits.

Bonuses such as ‘Bet £10, Get A £30 Free Bet’ are very common for new customers.

1.7 Is it Tax-Free?

Yes, currently, all bet winnings are tax-free in the UK.

1.8 Can I trust Matched Betting?

Yes, the only potential pitfall is human error/making mistakes. As with anything, just take your time on your first few bets until you get the gist of it. No need to rush.

1.9 How much can you make from Matched Betting?

I get asked this question a lot! The honest answer is it really depends on how much time you put into matched betting, how much starting cash you have, and how many bonuses you run at the same time. I’m going to estimate how much you make make from matched betting below, but these are rough estimates so please take them with a pinch of salt.

With Matched Betting it is possible to make £50 per hour – this is just an averaged value I have come up with. So, roughly, on average if you do 1 hour a day, 5 days a week, for a month you can earn on average £1,000 in tax-free profit.

The amount of starting cash really determines how much you can earn in the first 2-4 months. If you start with £50 cash, and save the profit from each bonus, you could make £1,000 per month in 2-4 months.

Running multiple bonuses at the same time, rather than completely one after the other, is the fastest way to make profit from matched betting, this will require much more cash, and much more time, and much more paitence. I would not recommend running multiple bonuses at the same time if you are a beginner. There is a higher degree of human error here so please approach with caution – even for seasoned pros.

 

2.0 Matched Betting for Dummies Tools

Matched betting isn’t rocket science, otherwise, this Matched Betting for Dummies, matched betting guide would be like going back to school (boring!) but matched betting can take a lot of time and effort if you do not use the right tools.

2.1 Odds Matching Software

Odds matching software helps you to match up back bets at Bookmakers with lay bets at Betting Exchanges. This takes away all of the hassle of manually finding bets. Which is a right pain! A matched betting service will have this software included.

2.2 Matched Betting Calculator

Odds matching calculator helps you to work how much you need to bet your back and lay bet to make sure the two bets cancel each other out. A matched betting service will include the calculator you need.

2.3 Matched Betting Offers

Ok, so finding the matched betting offers, is going to be one of the biggest pains in the butt you will come across. Doing this manually will suck, so use a Matched Betting Service.

2.4 Matched Betting Service

Matched Betting Services do all the hard work for you. OddsMonkey is a company that I use. It provides matched betters with all the tools (including odds matching software, matched betting calculator, and all the latest matched betting offers – updated daily) to take all of the hassle out of matched betting.

All their guides are step by step, so matched betting is less taxing on the old brain and more point, click, and rake in the profits!

They also have training guides so you can learn directly from the pros, they also outline all available bonuses and provide handy step by step guides.

It really does make matched betting easy. That’s why I not only use OddsMonkey but also recommend them to everyone who thinks of starting matched betting, sign up for their free trial where you get all of the stuff you need to make up to £45* profit.

 

3.0 Making Money (Manual Method)

Ok, so now you are up to scratch with the very basics of matched betting so let’s look at actually how you make money in this Matched Betting for Dummies guide (the manual way).

I can’t stress this enough, do not do matched betting manually! Use a matched betting service, to be completely honest, doing this manually sucks. Use the free trial on OddsMonkey to earn you a few quid, then invest that in buying OddsMonkey Premium. This will save you literally hours. It costs £15 a month. No brainer really.

You’ll thank me later for saving you the time of using a matched betting service! I didn’t in the beginning and it was complete and utterly cray cray!

 

4.0 Making Money (Recommended Method)

Ok, so for this one on matched betting services I will use my experience of using OddsMonkey. Start by signing upto the free trial, and head over to their offers section and click on one of the bonuses that are included in the free trial.There are step by step instructions so it will explain matched betting. For now though, I will quickly walk you through the basics.

Simply put, matched betting works by placing two rounds of bets:

  1. First Round is called the Qualifier Bet
  2. Second Round is called the Profit Bet

You need to place both these bets per bonus deal to get a profit.

Let me walk you through each of these in more detail.

4.1 The Qualifier Bet Round

The Qualifier Bet round is the 1st round of bets you place. That’s a bet at the Bookmakers and an opposing bet at the Betting Exchange.

4.2 The Profit Bet Round

The Profit Bet round is the 2nd round of bets you place. That’s a bet at the Bookmakers and an opposing bet at the Betting Exchange.

4.3 The Example

Let me walk you through an example from scratch. It will start with the Qualifier Bet round and then follow with the Profit Bet round.

STEP A: Qualifier Bet – Signup to the Bookmaker

Head over to the Bookmaker site using the link provided on OddsMonkey. This link will take you to the free bet offer sign up.

OddsMonkey will detail the important terms to qualify for the free bet. They are usually, place £X on odds greater than X.

For example, if the Bookmakers’ promotion is ‘Bet £10, Get A £30 Free Bet‘ and it says you have to place the bet at odds greater than 1.5 to qualify. So a £10 bet at odds greater than 1.5.

STEP B: Qualifier Bet – Signup to the Betting Exchange

You now need to sign up to a Betting Exchange site. You probably will only ever need to use one Betting Exchange account and that will probably be Betfair.

Betfair may have a new customer promotion that you can also signup to at the time. Make sure you read the terms and conditions.

OddsMonkey will include a link to BetFair (and any free bet promotions BetFair are running).

STEP C: Qualifier Bet – Use the oddsmatching software

Use the oddsmatching software to find a bet. You just need to select the bookmaker and filter by the odds (in this case – greater than 1.5), then locate an offer with a rating less than 100. Select an offer.

STEP D: Qualifier Bet – Use the matched betting calculator

Next use the matched betting calculator to work how much you need to bet and lay.

STEP E: Qualifier Bet – Place the bets

Place the bets on the bookmaker and on the Betting Exchange.

STEP F: Free Bet – Repeat

Repeat the process again, but this time, using the free bet offer at the bookmaker instead of depositing cash.

STEP G: Withdraw Cash

If you win at the Bookmaker, withdraw the cash. If you win at the Betting Exchange, keep the cash in the account ready for the next offer.

 

5.0 Matched Betting Guide Tips

5.1 Use a Matched Betting Service

Like I said above a matched betting service makes matched betting so much easier! They explain every bonus available on the market and also show you what amount you need to bet, at what odds, and any other terms that you need to meet in order to qualify for the free bet.

5.2 Keep a list of usernames and passwords

You will be signing up to a lot of Bookmakers and Betting Exchanges so keep a secure list of your username and passwords. I have now added a column for your to store your usernames and passwords in on the completely Free Matched Betting Offer and Profit Tracking form. Keep it safe and secure. Hope it helps!

5.3 Keep track of where your money is

You will be signing up to a lot of Bookmakers and Betting Exchanges so keep track of what money you have where and what free bets you have or have not used.

I have created a completely Free Matched Betting Offer and Profit Tracking form which will make knowing where your money is so much easier!

5.4 Running more than 1 account

I don’t recommend running more than 1 account with any bookmaker or betting exchange. Some online betting companies use Cookie Tracking along with IP Address Tracking to stop this. You may lose any money in your account/s and your account/s may be closed.

5.5 Only use your debit card

This is all about risk reduction. When signing up to a Bookmaker or Betting Exchange, I recommend that you only use your debit card (not PayPal, Credit Card, or any other payment method) that is registered to you at your home address.

5.6 Only use your home address

Again, this is all about risk reduction. When signing up to a Bookmaker or Betting Exchange, I recommend that you only use your home address, and that you are on the electoral roll at that address.