So exactly what is Matched Betting anyway?
First of all matched betting is not gambling, money is never at risk at any time, and nothing is left to chance. Matched betting is a term used to describe the method or technique used to make guaranteed profit from bookmaker bonuses without any risk, and no matter what the outcome of the game or event. For the majority of matched betting, it simply involves placing a Back Bet with the bookmaker and a Lay Bet with an exchange such as Betfair, or Smarkets. Whereas a Back Bet is a bet for a Team to win a game, or a Horse to come first in a race, a Lay Bet is a bet for a Team not to win a game, or a Horse not to come first in a race. Another term used in the industry is double betting.
It is extremely common for Bookmakers to entice new and existing customers with incentives such free bets and bonuses, but often these free bets come with certain conditions, the majority of which requires you to place a bet with your own money (called a qualifying bet). Matched bettors get around this problem by first placing the qualifying bet on an event with their own money, but at the same time also placing a lay bet on the same event with an exchange to protect against risk. This then unlocks the free bet with the bookmaker and the same procedure is used to cash out the value from the free bet, i.e place the free bet with the bookmaker, but also again place a lay bet on the exchange on the same event. This results in guaranteed profit no matter what the outcome as you have covered all eventualities of the event.
There are literally hundreds of sign-up offers that bookmakers offer to attract new gamblers which matched bettors can profit from. At the time of writing, if all of the sign-up offers were completed, the total profit would equate to at least £2,000. In addition to this, there are many individuals that maintain a long term sustainable income purely from the regular ongoing bonuses that bookmakers offer to their existing customer base.
Odds Matching Tool
When matched betting, individuals would use tools like OddsMatching that scrape all of the bookmaker odds and compares them against the exchange odds, very useful to maximise the profits you can make from the free bets. This is used in conjunction with a matched betting Calculator that calculates what lay bet you would need to place on the exchange.
Matched betting is legal, Tax free and has been featured a few times in the press: