Matched Betting Simplified

I wanted to put matched betting in the most simplified way possible. I have found that some sites really make a meal out of explaining what matched betting is, so here is it put simply.

Matched Betting Simplified

1a. Sign up as a new customer with an online bookmaker that has a free bet promotion

1b. Sign up to a betting exchange (you need only do this once)

2. Compare the odds (use an odds matching calculator) on an event on the bookmaker and the betting exchange

3. Place the back bet at the bookmaker and the lay bet at the betting exchange (this will cancel the bets out)

4. Once the event has finished and the bet has been settled you will get the free bet from the bookmakers

5. Repeat steps 2 and 3 using the free bet

6. Once the event has finished and the bet has been settled you will now be in profit

7. Withdraw cash from the bookmaker / betting exchange

8. Repeat process on other bookmaker sites with free bet promotions