Matched Betting is something that shot to prominence shortly after online bookmakers began offering free bets/bonuses for new customers signing up to their site. Back then, bookies were regularly offering free bets of £50 for new depositors and sometimes £100, even £200 free bets.
That was in hindsight, way too generous and they have since adjusted massively. Now you seldom even see a £50 free bet offered for new customers. Generally it’s between £10 and £30 across the board.
The simple process of matched betting involves taking two of those free bets and backing opposite sides of a 2-way market to guarantee profit. Below we will explain other matched betting techniques and explore whether it’s still worth doing.
Matched Betting Explained
There are 3 parts of the process and here Matched Betting Explained should spell them out for you.
- Firstly, create new accounts with two different bookmakers both offering the same free bet for new customers, for example William Hill offer £20 for new customers and so do Boylesports.
- Now to actually avail your free bet, you need to wager a specified amount at certain minimum odds. Normally, you’ll need to bet in real money the same amount as the free bet on offer, following our example this would be £20. Minimum odds are usually 1/2 (1.50) but check each individual bookie T&Cs.
So take a look at several football matches with plenty of time before kick-off and look for a game with a balanced 2-way market. Ensure you are getting at least 10/11 on both sides of the bet. So at William Hill you could be getting 10/11 on over 2.5 goals in Man City v Man Utd and at Boylesports you take 10/11 on under 2.5 goals.
Now place £20 at on over goals and £20 on the under goals with the two bookmakers. Once the game is complete, no matter the score you will have qualified for your free bets at both bookies. With bets settled you will have lost one of your £20 bets and won the other. That will overall have cost you £1.82 but you now have 2x £20 free bet tokens.
- The final step is to extract the value from the free bets and make your matched betting profitable. To do this, find another 2-way betting market with minimum 10/11 either side. For this example we will take a Snooker match between Judd Trump and Mark Selby. At William Hill you bet your £20 free bet on Trump at 10/11 and with Boylesports your £20 free bet goes on Selby at 10/11.
No matter the result, you will win one of your bets and lose the other. So let’s say Trump wins, your William Hill account will be credited with £18.18, the profit from the free bet, remember free bet stakes are never returned to the customer. While your Boylesports balance will remain unchanged as you only lost the free bet token.
When you now tally up your account balances, you have bet two events for results of -£1.82 and +£18.18. That has seen you finish £16.36 in profit with absolutely no risk whatsoever. That is matched betting explained, hopefully easy to understand even for the most novice gamblers.
Matched Betting Tips
Our Matched Betting Tips are concise but important. The last thing you want to do is have a matched bet go wrong and end up costing you money and free bets in the process.
1) Ensure you have read each individual bookmaker T&Cs for how to trigger/avail the free bets and also on how to use the free bets.
2) Double check you are betting the exact same market in the correct game at both bookies. Some betting sites will have slightly different names for different bets.
3) Always give yourself time to plan and execute. Don’t try to do matched betting on the fly whilst on the tube with the game starting in 5 minutes time.
Matched Betting Reviewed
Now we know how to and tips for matched betting, let’s review matched betting and make a all on whether it’s still worth doing.
The answer to the question is simple, it’s different for each and every person. You can expect to spend 40 minutes actual work time creating two accounts and betting the required matches. The profit we said on 2x £20 free bets would be £16.36. That equates to £24.54 an hour, does that sound reasonable to you? If so then get involved, if not then you must be doing something right.
Given there are at least 10 reputable betting sites that offer free bets for new customers and can be exploited, you can make over £200 risk free in a day.