You’ve probably heard some bloke down the pub telling his mates how he’s made a shed load of money from a thing called matched betting. Saying how it’s risk free. You can’t lose. What a load of rubbish eh? Wrong.
That bloke is legit. And it’s likely he’s already made hundreds without breaking a sweat. Ooh and he’s done it from the comfort of his living room. Now you want in, right? Well here are the basics.
What is matched betting?
Almost all online bookmakers offer free bets in some capacity and matched betting is a technique that mathematically guarantees punters a profit from almost all incentives.
Simply put, the method requires you to cover all possible outcomes of the sporting event you’re betting on. By doing so the final result becomes irrelevant. The process works by backing and laying a bet at the same time. Unsure what that means? Read on.
Backing an outcome
This is the type of bet you’re likely to be most common with. You back a certain result to come true. For example you might back Manchester United to win. If they do then you’ll receive your winnings. If they lose or draw then your bet will be settled as a loser. This type of bet can be placed with all major bookmakers including Paddy Power, William Hill and Betfred.
Laying a bet
Here’s where it gets complicated. Laying a bet is when you bet against a certain outcome happening. For example betting against Manchester United winning. Therefore if they lose or draw then your bet will be a winner. This type of bet can only be placed via a betting exchange website or app, like Betfair.
Matched betting works by backing both bets and covering all outcomes as stated previously. It’s imperative to back and lay bets at similar odds therefore no matter what the result you’ll get a similar return, which is always guaranteed to be a profit.
This process needs to be done twice. First you do it as a qualifying bet to redeem your free bets and then you repeat the process when betting with your free bets. You’ll obviously have to use your free bet for the back part of matched betting.
How much profit will you make?
Typically speaking you should make around 95% of the free bet total. Betting exchange firms usually charge commission which in most cases is 5%. In most cases you’ll make a loss on your qualifying bet, because of the slight difference in odds.
But don’t worry, these losses will be recouped in the second stage of matched betting when you use the free bets.
This method can be incredibly profitable if you’re patient. You’ll need to setup numerous accounts and wait for free bets to be credited. Good luck and enjoy the free money.