Read our Matched Betting Guide

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Welcome to our comprehensive Matched Betting Guide. This guide is designed to provide you with a detailed understanding of matched betting, a risk-free method many in the UK use to make profits from free bets and incentives offered by bookmakers.

We will delve into the fundamental differences between traditional gambling and matched betting, demystifying why the latter is less risky. Our journey will begin with easy sign-up offers; we'll explain how you can find suitable ones and unlock your first free bet.

Further, this Matched Betting Guide explores the role of betting exchanges in match-betting - an integral part of this process that allows for the 'lay' betting technique. We’ll also introduce you to essential tools such as the Matched Betting Calculator and Oddsmatcher, which simplify calculations and help identify optimal bets.

We'll also discuss platforms like OddsMonkey and Outplayed that provide services tailored specifically for matched bettors – all aimed at enhancing your profitability while reducing time spent on research. Prepare yourself for a deep dive into how matched betting works!

table of contents

• What is Matched Betting
• Why should I trust this guide?
• Starting with Easy Sign-up Offers
• Using Betting Exchanges
• Importance of Matched Betting Calculator
• Utilising Oddsmatcher Tools
• Using Platforms like OddsMonkey and Outplayed
• Matched Betting Reload Offers
• Matched Betting Extra Places
• FAQs in Relation to Matched Betting Guide
• Final Thoughts

As a Chartered Accountant, I naturally avoid traditional betting and gambling systems to make money. However, one exciting side hustle is matched betting, also known as the "back and lay" betting technique. Crucially, this isn't typical gambling. It's not about taking risks or gambling but instead using mathematical calculations (as an accountant, you can see why I like this method!) to secure profits from free bet offers provided by various bookmakers.

This strategy involves placing two bets: a back bet predicting that an event will happen and a lay bet predicting that it won't. The aim here isn’t to win but to cover all possible outcomes of an event. This way, you qualify for free bets without risking any money - hence the term "matched" in matched betting.

The Basics of Matched Betting

To start with matched betting, you first need to open accounts with online bookmakers who offer sign-up bonuses or free bets. For example, Coral offers promotions that give new customers a free £10 bet.

• Back Bet: Place your qualifying bet on the chosen event at the bookmaker’s site (e.g., Coral). This could be something like "England will win their next match".
• Lay Bet: Simultaneously place another wager against this outcome happening at a different platform called a betting exchange. In our example above, this would mean "England won’t win their next match".

No matter what happens during the game – whether England wins or loses – one of your wagers will emerge victorious because they covered both potential results! These stakes offset one another, thus ensuring you remain in the black no matter who triumphs or is defeated. Your financial position stays neutral because one of your stakes will always win. And regardless of which one wins, you have now unlocked your reward: A Free Bet!

Taking Advantage of Free Bets To Make Profit

You then repeat this process using your free bets instead of actual cash for future events while ensuring that whatever happens, you make more than what was initially staked due to the odds difference in your favour between the back and lay options. By doing so regularly across multiple platforms offering such incentives, users can turn these promotional deals into steady income streams over time!

The difference between traditional gambling and matched betting

• Risk: Traditional gambling is all about taking risks, but with matched betting, you cover all bases and minimise the risk.
• Taxation: In the UK, matched betting profits are tax-free.
• Predictability: Gambling relies on luck, but matched betting can give you predictable returns if you know what you're doing.

in a nutshell

Both involve placing bets, but matched betting is a method to make regular profits without risking your hard-earned cash. No more relying on Lady Luck.

To start matched betting, you must understand how the process works. This comprehensive guide is designed to help side hustlers learn matched betting and profit from free bets offered by various betting sites.

This method, known as 'matched betting', has been tested extensively and is entirely legal. It allows bettors to leverage the free bet offers provided by bookmakers in a way that guarantees profit regardless of the outcome. A spokesperson for William Hill has even stated that the betting industry does not object to this use of their free bets – according to Wikipedia.

Here at sidehustles.co.uk, the team have personally used matched betting without losing any money, but it's essential to take your time when learning matched betting techniques. Rushing can lead to mistakes, so please research to ensure the method is clear before placing any bets!

The Practicality of Matched Betting

Let's be clear; matched betting won't make you a millionaire. However, following the matched betting system can make small, consistent profits. For example, in 15 minutes using these methods, we recently made just under £20 profit! And remember: this isn't gambling; the profit comes purely from understanding how matched bettors can turn free bets into profits on platforms with sign-up offers.

KEY TAKEAWAY

Let's be clear; matched betting won't make you a millionaire. However, following the matched betting system can make small, consistent profits.

You can start with easy sign-up offers if you're new to matched betting. These are promos by bookmakers to attract new customers. Place a bet, unlock free bets, and use them as your initial capital for future bets.

Finding suitable sign-up offers

Finding sign-up offers in the UK is very easy. A simple online search reveals numerous bookmaker websites with free bet deals. Examine the small print thoroughly before signing up.

Here are just a few of the free bet offers we found when doing a quick search:

• Bet365: Get up to £100 in Bet Credits when you place qualifying bets of the same value.
• Ladbrokes: Bet £5 and get £20 in free bets.
• Paddy Power: Get a 'Risk-Free First Bet' - money back if your first bet loses.

Steps to unlock your first free bet

Unlocking these free bet offers usually involves a similar process to the following:

1. Create an account with one or more bookmakers offering sign-up offers.
2. Fulfil their requirements, like making an initial deposit or placing qualifying bets within specified odds ranges.
3. Your bonus funds should be credited into your account immediately or after settling qualifying bets.

easy sign-up offers

Starting with easy sign-up offers provides risk-free capital and hands-on experience without significant upfront investment.

Knowing how to use betting exchanges is essential in the world of matched betting. These platforms let you bet against other punters instead of the house. It's like a betting stock market.

What are betting exchanges?

Betting exchanges are online platforms where you can place 'back' bets (for an outcome) or 'lay' bets (against an outcome). They give you control over your stakes and odds. It's like being your own bookmaker.

Betfair Exchange is the most popular UK-based exchange, followed by others like Smarkets and Matchbook. These platforms let us cover all bases in match-betting, so we can make money no matter what happens.

Why are they important in match-betting?

• Risk Management: With betting exchanges, you can place lay bets alongside back bets to minimise losses. 
• Liquidity: More money available for matching means faster bets. 
• User Control: On a betting exchange, you're the boss. You can control your odds and stakes, unlike traditional bookmakers. 

Understanding commission structures on different platforms is essential to make the most of these benefits. Some charge commissions only on net winnings, making them a better deal than regular sportsbooks. It's like getting a discount on your betting profits.

And hey, betting exchanges aren't just for laying off back bets. You can also get fancy and trade price movements within the marketplace, although we'd recommend this only for very experienced match betters.

key takeaway

Betting exchanges are online platforms where you can place 'back' bets (for an outcome) or 'lay' bets (against an outcome), giving you control over your stakes and odds. They are essential in matched betting because they allow for risk management, faster bets due to more liquidity, and user control over odds and stakes. Understanding commission structures on different platforms is crucial for maximising benefits, as some charge commissions only on net winnings. Additionally, betting exchanges offer the opportunity to trade price movements.

Use a Matched Betting calculator to make money from matched betting over the long term. It tells you exactly how much to bet and where, so you always come out on top.

What is a Matched Betting Calculator?

A matched betting calculator is a clever tool that does all the hard work for you. Considering the odds and stakes, it calculates the perfect bets to place, so you can't lose.

The best thing about a matched betting calculator is that it takes away all the guesswork. No more relying on luck or gut feelings. It's all about cold, complex calculations that guarantee you a profit.

How does it work?

Using a matched betting calculator is very easy:

1. You enter the details of your qualifying bet, like the odds from the bookmaker and the exchange.
2. The calculator does its magic and tells you exactly how much to bet on each side - the bookie and the exchange - to ensure you win no matter what.
3. It's like having a safety net that catches you no matter how the wind blows. You're always a winner.

To use a matched betting calculator, you generally click 'place bet' after entering all the necessary info. It's not rocket science - even if numbers aren't your strong point. And remember, once you learn matched betting, turning free bets into real cash is a piece of cake.

key takeaway

A matched betting calculator can act as a secret weapon in the betting industry, guiding matched bettors on how much to bet and where to ensure a profit. The calculator takes away guesswork and relies on cold calculations, making it like having a personal betting advisor without the hefty fees.

These nifty tools do the hard work for you, finding profitable opportunities in a flash, so you don't have to waste time searching all over the internet.

Introduction to ODDS MATCHING Tools

An odds matcher tool is like a super-smart search engine that scours bookmaker sites and betting exchanges for the best odds. It compares back odds (the traditional bet at a bookmaker) with lay odds (the opposite bet at an exchange) to find matches where the odds are close or even the same. This helps matched bettors maximise profits and minimise risk.

Benefits and Usage of ODDS MATCHER

Using an odds matcher tool in your matched betting strategy has loads of benefits:

• Ease of use: These tools do all the hard work for you, so no more endless searching for suitable bets.
• Saves time: Quickly find high-value bets and spend less time searching and more time winning.
• Increase profitability: Find closely matched pairs and maximise every free bet.

To start using an odds matcher tool, input your criteria, like sport type or event date. The software will then show you a list of potential matches ranked by how closely the back and lay odds align. The higher the rating, the closer the odds and the bigger the profits when using free bets.

But a word of caution: always double-check the details before you place any bets. Just so you know, odds can change quickly, so make sure the info on your chosen platform matches what's on the actual bookmakers' site or exchange.

Matched betting can be a complex process, especially for beginners. Fortunately, there are platforms available that simplify the journey significantly. Two of the most popular platforms are OddsMonkey and Outplayed. These platforms offer comprehensive guides and additional features that make matched betting more accessible and manageable.

Services provided by platforms like OddsMonkey and Outplayed 

Both platforms offer comprehensive guides and tutorials on matched betting and break down the concept into easy-to-understand segments, perfect for beginners and experienced matched bettors alike. But their unique features designed to streamline your match-betting experience are what sets these platforms apart.

• Profit Trackers: Say goodbye to tedious profit tracking using an Excel spreadsheet. Online profit trackers help you monitor all your earnings in one place, so you can see how much money you've made from matched betting at a glance.
• Reload Offer Lists: Stay updated with new free bet offers from all the major bookmakers using the platform's regularly updated reload offer lists. It's an absolute necessity for achieving the best returns.
• Dedicated Support Teams: Need help or have questions? Dedicated support teams are always ready to assist you, ensuring a smooth match-betting experience.

In addition to these tools, the platforms offer advanced calculators and odds-matching software to simplify the process and increase profitability potential even more.

These platforms also host active online communities where matched bettors can share tips and experiences, creating a supportive environment for learning and growth within the realm of matched betting.

The benefits of using platforms like OddsMonkey and Outplayed cannot be overstated. While they charge a monthly membership subscription fee, they simplify and enhance every aspect of profitable match-betting. So whether you're a beginner or looking to level up your skills, leveraging resources like these is invaluable for achieving financial success through this unique side hustle opportunity.

✅ Read our comprehensive review of OddsMonkey here.

✅ Read our comprehensive review of Outplayed.com here.

Matched betting reload offers are promotional incentives that betting platforms like Betfred or Ladbrokes extend to existing customers. These platforms profit from your bets and aim to retain your business through various promotions.

To keep you actively placing bets, these platforms provide an array of reload offers. While the specific offers may vary, they often include free bets, which allow you to wager without risking your own money.

how to find reload offers

Read our article FIND MATCHED BETTING RELOAD OFFERS for more information on finding reload offers.

Matched betting extra places can help you increase your earnings by taking advantage of an additional place in events like golfing and horse races. This means that not only can you earn money if the horse or golfer you've backed wins, but you can also earn if they finish in one of the additional places promoted by the bookmaker.

Read our article MATCHED BETTING EXTRA PLACES: ULTIMATE UK GUIDE for more information on extra places.

Forget traditional gambling; we're talking about using free sign-up offers, betting exchanges, matched betting calculators, odds matcher tools, and platforms like OddsMonkey and Outplayed to boost your bank balance.

With these strategies and resources, you can turn matched betting into a profitable side hustle and minimise the risks.

We explicitly do not advocate gambling. Our focus is exploring legitimate side hustles, including matched betting, which is mathematically designed to be risk-free. Be aware, human error and rare instances of bookmakers withholding bonuses can introduce risk. Profits vary with time and effort. Read terms carefully and proceed with informed caution.

🔞 Matched Betting is for over 18s only and requires the placement of bets on gambling sites. If you do have any concerns about gambling, please get in touch with GambleAware.