Matched Betting Tutorial – A Step by Step Guide

MATCHED BETTING TUTORIAL

The standard free bet offer from online bookies tends to be - "Bet £x, and we will give you an £x free bet".

The matched betting tutorial above shows the following offer:

matched betting tutorial

As you can see the bookmaker is offering to give me a £25 free bet, but I must first place my own £25 free bet in order to receive this offer.

There are generally two stages to the Matched Betting process:

  • Placing your Qualifying Bet, &
  • Placing your Free Bet

Before you Begin...

If you haven't matched bet before and/or you don't already have an account with either Betfair or Smarkets, then sign up to one of these exchanges first.


Step 1 - Signup with the bookmaker

Sign up to the bookie - If the bookie requires you to enter a bonus code to receive the offer then make sure that you do (some bookies have them, some don't).

Check the Terms and Conditions of the offer. If the offer says, bet £10 to get a £10 free bet, make sure you deposit and bet the correct amount.

In this case the offer I received was bet £25 to get a £25 free bet - Therefore the amount that I deposit and bet with was £25.

Sometimes a bookie will require that you verify your age - This is completely normal. Usually you will need to provide one form of photo identification (passport/drivers licence), and proof of address (bank statement/utility bill).


The Qualifying Bet

Check the Terms and Conditions of the offer for the minimum odds. If you don't do this and the bet that you place doesn't meet the minimum odds requirement then you will not be credited with the free bet.

For the above offer, only bets placed at or above odds of 1.6 were eligible to receive the free bet. 

Manually search or use Profit Accumulators Oddsmatching Software for an event (I would suggest that you bet on football games to begin with).

Look for teams that:

  •  Are close to the minimum odds requirement (1.6 in the above example)
  • and, find matches where the odds between the bookie and the exchange are close together

Try to keep your qualifying loss under 5% - We will always make a small loss on our qualifying bet. In this example I would want to keep my loss under £1.25 (£1.25 is 5% of £25.00)

1

PLACING YOUR QUALIFYING BETS

Once you have found the event you want to bet on, go to the Oddsmatching Calculator and follow these steps:

Use 'Normal' mode on the oddsmatching calculator

Enter your back stake (£25 in my example)

Enter the bookies back odds

Enter the exchange lay odds

Enter the lay commission​

Press calculate

matched betting calculator

The calculator will tell you your lay stake, and your 'liability'. The liability is the amount of money that you need to deposit into the exchange​

Deposit this amount, then place your bookmaker back bet, followed by your exchange lay bet​


The Free Bet

Once your qualifying bet has settled, you should then be credited with your free bet.

Again, ​Manually search or use Profit Accumulators Oddsmatching Software to find an event to bet on.

This time, we're going to use high odds (above 4.0) in order to maximise the profit from the free bet​

2

PLACING OUR FREE BET

Select Free Bet (SNR) in the Oddsmatching Calculator

Enter the free bet amount 

Enter the bookie back odds

Enter the exchange lay odds

Enter the lay commission​

Press calculate

matched betting calculator

Make sure you have enough money in the exchange to cover the liability of this bet. (Deposit more if you need to).

Now place your bookie back bet, followed by your exchange lay bet.

Once the match settles, you should now have profited by the amount shown to you on the calculator (£18.10 per my example).

You are now finished with this offer. Simply withdraw your winnings, and move on to the next one!


KEY POINTS TO REMEMBER

  • Always check the Terms and Conditions of the offer
  • Use minimum odds for your qualifying bet
  • Try to keep your qualifying loss under 5%
  • Use high odds for the free bet to maximise profit
  • Try not to spend your profits - You need to build up your bank roll in your exchange accounts

Do you have any questions with regard to this Matched Betting Tutorial or Matched Betting in general? Ask below!

Also check out my Matched Betting Blog where I regularly post tutorials, reviews, tips/tricks and all of my monthly Income Reports!​


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