What is Matched Betting?

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What is Matched Betting?

So, you’ve heard about matched betting. A way you can make tax-free money online from bets.

Sounds too good to be true? Well, that’s exactly what I thought when my friend told me about it back in 2012.

My first thoughts, and I guess yours will be too, is that it’s some sort of scam, it’s dodgy, or it’s a get rich quick scheme. Luckily, it’s none of those.

After my friend convinced me it wasn’t dodgy he went on to explain what matched betting actually is. For most beginners to the world of matched betting or betting, more generally, it can be a little daunting.

That’s why I started writing about matched betting all the way back in 2013, to help teach others (and in the process learn more about it myself).

Matched Betting Beginner is dedicated to helping you understand matched betting plus get the right tools to get started within just one day.

I recommend heading to my matched betting for dummies guide.

So, what is Matched Betting?

Matched Betting is the process of extracting free bets and offers from bookmakers without the normal risks of betting. This is done by strategically placing bets at specific odds in order to guarantee ourselves profits. 

How Matched Betting Works

Matched Betting can be used to extract the many free bets and bonuses offered by online bookmakers, to new and existing customers, without the risk of losing money. This is done by betting on every outcome of an event so that whatever happens, you end up with a profit.

It is possible to do this by using a bookmaker to “back” a particular outcome (bet that something will WIN, eg. a horse will win, there will be over 2.5 goals in a match, etc.) and a betting exchange to “lay” the same outcome (bet that the particular outcome LOSE). This means that whatever happens, you will win one of your bets, and lose the other. When this technique is carried out using a free bet or bonus money for one of the bets, a profit is guaranteed.

The key is finding matches that have close odds. Meaning that the “back” odds on the bookmakers site with the Free Bet are very close to the “lay” odds on the betting exchange.

Still confused? check out this explanation.

Too Good to be True?

When I first heard about Matched Betting, several thoughts came to mind; this is a scam, this is too good to be true, whats the catch? Thoughts I imagine you are either having right now or have previously encountered. These are natural thoughts to have, as there are many online scams that lure you in with the promise of easy money, only to leave you out of pocket.

This is one of the rare occasions where you can actually make a substantial amount of money from the internet without taking any risk. If you still aren’t sure, watch the video explanation above before you go any further.

For many of you, overriding your natural instinct to run a mile away from any sort of money making scheme will be the hardest hurdle to overcome in your Matched Betting journey, but once you do, you will be able to see that the earning potential is enormous.

Who can do matched betting?

The good news is anyone over the age of 18 in the UK can do matched betting. You don’t have to be a whizz at betting, be a regular gambler, or even like sports. All you have to do is follow the guides, place the bets, and withdraw the profits.

It’s just a set process. You won’t be rich but, on average you’ll make £50 per hour tax-free.

The Next Step

Right, now that you have more of an understanding of the concept, check out a matched betting service where you can get a free trial. I use OddsMonkey. Or check out my journey and how I went from a Matched Betting Beginner to making big money at Cheltenham.