Making money from matched betting has been going on for a number of years. Many people have openly broadcast the method and bragged about this free income.
So what is it? Well, in a nutshell; matched betting involves extracting the Free Bets available from Bookmakers. It’s a completely 100% legal method which the betting industry acknowledges and has no issue.
It’ll not make you rich but it’s a pleasant way of topping up your balance.
Applying the Match Betting Method
Shortly, I’ll run through the steps involved and include a link to Betway who are currently offering a sign-up incentive – “£30 in Free Bets”. It’s this money which you are able to withdraw in to your bank account using the matched betting method. Think about how many online bookmakers offer this incentive, all these incentives can be withdrawn using the matched betting method.
Also, the deposit required to open these free bets is protected too, using the lay bet method explained further down.
Firstly, what is matched betting exactly? This method, or technique, guarantees profiting from Free Bet Promotions. Nearly all online bookmakers offer some form of sign-up incentive, and mostly involve cash in the form of free bets.
There are two types of bets which allow matched betting to work:
1. A ‘back’ bet is a bet where you bet that a certain outcome comes true. If your outcome comes true, then you win the bet. A basic example is for your football to win a match, if they draw or lose then you lose. Oppositely, if they win you take the prize. Back bets are accepted at the majority of online bookies.
2. A ‘lay’ bet which means betting against an outcome to happen, so for example you can lay against Man United winning their next match. If you Man United draw or lose then you win. Lay bets can only be placed at betting exchanges, we use Betfair.
How Match Betting Works
A matched bet works when you lay against the back bet, you use the free cash from the bookies to place a back bet, then simply lay against it on the exchange.
In doing so, you are simply cancelling out the risk of the ‘back bet’ losing, by lay betting against it on a betting exchange.
The Sign-Up Deposit
Initially, you will sign-up with a cash deposit, when you place a bet the free bet will then be given to you (ensure you meet the odds criteria to release the Free Bets). This is now where you make your profit as you simply use the free bet as a back bet, then lay bet against in the exchange – no matter the outcome you profit.
Steps Involved in Matched Betting
Here’s a live example of opening and using an onine bookie and applying the matched bet method.
- Open an online account with Betfair, this has a great exchange for laying bets. This allows you to bet against other people.
- Open a Betway account, just follow the link Betway Sign-up Offer and register your details. They are currently offering £30 in FREE Bets.
- Now we need to place a bet. A football bet is always simple, and good for outcomes. In the Betfair exchange, select the red boxes to place a lay bet. Within Betfair ensure you click ‘Exchange’ in the top navigation bar.
- In Betway, to qualify you may have to back a bet with a certain number of odds, ensure you match this requirement.
- To make this work effectively, you need to ensure the odds are similar for the back and lay bet. There is a tool called Oddsmatcher which displays matches with similar odds for bookies and exchanges.
- Once the football match ends, either outcome will lead to you covering your initial deposits. Your free bets will now be added to your Betway account.
- Use all of your free bets on either a win, loss or draw back bet. Then, simply login to the exchange and lay against your back bet.
It’s that simple. The difference will be a profit as the free bets may win, so you can withdraw that which will cover the loss in the exchange. Or, if the exchange wins, then you’re in profit as the free bets, were FREE!