Step by step guide to matched betting

Matched betting is using the free bet bonus that bookmakers offer and betting on all possible outcomes of an event to guarantee a profit.

By betting an event at a bookmaker and laying (betting against) the same event at a betting exchange it is possible to use the free bets offered to guarantee a profit. The only risk is human error.

Matched betting will guarantee you profits. Football matches are the easiest events to use. There is a spreadsheet attached to this link that will help you a lot with matched betting.


Here are the basic steps for matched betting.

• Sign up for a Betfair account. Deposit about £100 (you can start with less but it speeds up the process and makes it easier if you have more in your account)
  
  
• Register at a bookmaker of your choice. You can see details about the free bets that bookmakers offer in our Bonuses and Site Reviews section.
  
  
• Find a match to place your qualifying bet on. This takes time as it is important to find out where the odds are most favourable. (I will be adding a list of matches that are good for matched betting soon)
  
  
• Deposit funds into your account at the bookmaker. (If the bookmaker you choose has a 100% free bet up to £25 then deposit £25 into the bookmaker)
  
  
• Make a bet with the money you just deposited on the match you chose (e.g. £25 on a team to win)
  
  
• Use the spreadsheet attached to this link to work out how much you need to wager at Betfair
  
  
• Go to Betfair and find the match that you have bet on at the bookmakers. But this time click on the Lay button for the same team that you bet to win and bet the amount that the spreadsheet says in the Lay Stake field.
  
  Here is an example of how it would work and what you need to do using Betway as the bookmaker.
  
  Silkeborg v AaB - 05 April at 12:00
  
  Stake £25.00 - make a £25.00 free bet!
  
  Back The Draw in Betway
  
  In Betway find the "Danish SAS ligaen" matches from the football menu and locate the "Silkeborg v AaB" match. Stake £25 on The Draw at odds of 3.40
  
  Lay (bet against) The Draw in Betfair
  
  In Betfair on the left menu click Soccer > Danish Soccer > SAS ligaen > Fixtures 05 April > Silkeborg v AAB > Match Odds. Click the PURPLE box showing odds of 3.35 and lay £25.76 against The Draw. Your liability will be £60.54.
  
  All outcomes are now covered
  
  You will make an acceptable loss of £0.54 from this bet in order to obtain the £25.00 free bet.
  
  * If its a draw you will make £60.00 profit in Betway to cover the £60.54 liability lost in Betfair.
  
  * If it’s not a draw you will make £24.47 profit in Betfair (your £25.76 lay stake minus 5% commission) to cover the £25.00 deposit lost in Betway.
  
  
  
  
• With your free bet from the bookmakers first find out if it the stake is returned or not. This information should be in the thread about the bookmaker in the Bonuses and Site Reviews section. (most bookies do not return the stake)
  
  
• Find a match to bet on that will give the most profit. You should be aiming to get about 70% of the free bet back as profit. (The general rule is that the higher the odds, the more profit you can make. Be careful to check you have enough in your betfair account to cover laying the bet)
  
  
• Use your free bet on the match that you have chosen.
  
  
• Go to Betfair and lay the amount that the spreadsheet says you should lay for the same amount of profit if the bet at the bookmakers or Betfair wins.
  
  Here is an example using Betway again for how to place your free bet.
  
  
  Liverpool v Benfica - 08 April at 19:05
  
  Make £18.95 guaranteed profit from the £25.00 free bet!
  
  Back Benfica in Betway
  
  In Betway find the "UEFA Europa League" matches from the football menu and locate the "Liverpool v Benfica" match. Stake £25 on Benfica at odds of 5.75
  
  Lay (bet against) Benfica in Betfair
  
  In Betfair on the left menu click Soccer > UEFA Europa League > Fixtures 08 April > Liverpool v Benfica > Match Odds. Click the PURPLE box showing odds of 6.00 and lay £19.96 against Benfica. Your liability will be £99.8.
  
  All outcomes are now covered
  
  You will make £18.95 profit from the £25.00 free bet.
  
  * If Benfica win you will make £118.75 profit in Betway to cover the £99.80 liability lost in Betfair.
  
  * If Liverpool win or it’s a draw you will make £18.96 profit in Betfair (your £19.96 lay stake minus 5% commission) and lose nothing in Betway as it was a free bet.
  
  
• Wait for the match to be finished and you will have a profit.
  
  
• Repeat using another bookmaker and continue making risk free profit.
  

With the examples that I used you would get a guaranteed profit of £18.95 without actually risking anything at all because you had all of the options covered. This can be done at a lot of bookmakers and you can earn a lot of money from it.

As the government class this as gambling earnings you will not need to pay tax on anything you make either.

As I mentioned in the steps above, I am going to create a list of good matches to use for each bookmaker. This will be updated once a week.

It is really important to keep a log of all of your bets and results so you don't make any silly mistakes. Also a good way to keep track of how much profit you have made so far.