On my blog yesterday, I told you how I made £2,000 in a month from my hospital bed – in which £1,000 worth was made through matched betting. Since that post, I’ve had a lot of questions about how it works… so here’s a little guide!
In this beginners guide to matched betting, i’ll briefly go over how matched betting works and show you how to make £290 in free bet offers – and add a bonus £72.60 in cashback on top! A total of £350+ potential profit!
Disclaimer: I’m not encouraging gambling, and advise you stick to risk free offers.
What is matched betting?
Now before you say it… I know what you’re thinking… “The Coupon Kid has gone rogue… he’s started gambling his money down the drain!”. Quite the opposite… Matched betting is pretty much a risk free way of extracting new customer ‘free bet’ offers as real cash.
How do you do it? It’s simple. In a match between England VS Scotland – place one bet on England to win on a bookmakers, then on a different bookmakers (known as an ‘exchange’), there is an option to bet on all other outcomes (draw and Scotland winning), called a ‘lay bet’. If you place both of those bets, you cover all outcomes, so no matter the result of that match, you don’t lose.
Free bet offers on most bookmakers usually state to ‘place a £10 bet and get £30 in free bets’. This is the case on William Hill, so lets take them as an example. The process to get the free bets out as cash would be:
1. Deposit and wager £10 in a single bet on William Hill (whilst betting on all other outcomes on an exchange bookmakers with a ‘lay bet’).
One of the bets will win, and one will lose. The amount you win, and the amount you lose roughly cancel themselves out.
2. You will now have unlocked the £30 in free bets on William Hill (usually 3 x £10 bets). Simply repeat the process with these free bets. Place a bet, then use an exchange for the ‘lay bet’.
With each £10 free bet, it’ll either win into William Hill, or win into the exchange.
3. Once all bets have settled, check your William Hill and exchange accounts and withdraw your money.
This should include your free bet winnings and your original £10 stacking to unlock them. You won’t extract the full £30 out as cash, as with each bet you lose a little bit of money due to the differing odds. You should be able to extract around £25 of this in total as cash.
How do you know what bets to place?
Now you know the process, its just about finding the right bets. In order to extract the most profit from the free bet offers, you’ll need to find bets with odds that are close together to extract the most profit.
In order to find these bets, you’ll need to sign up for a matched betting account – which has a tool that shows you the best bets to place. It looks like this:
With this oddsmatching tool, you can scroll through a list of bets to place and use its calculator to work out how much should be staked in your ‘lay bet’. This is done to equal out the bets as much as possible, to extract the most cash. Here is a look at the calculator. Simply enter your stake amount (e.g the £10 bet), and it tells you what to stake on your ‘lay bet’ (£10.32).
Now, all you would have to do is place the £10 bet at William Hill, the £10.32 ‘lay bet’ at the exchange (in this case Betfair), and wait for the match to finish and bets to settle. Then they money can be withdrawn.
The matched betting company that I have been using to access this oddsmatcher tool is called Profit Accumulator. There are many others available, but Profit Accumulator for me is the easiest to use.
Along with this tool, they have video tutorials and step by step guides for each new customer offer to help you through and claim the free bets. Even if you’re a bit unsure of what you are doing, following the steps in the video guides will mean you get everything right – and you pocket the free bets as cash.
Profit Accumulator offers a free trial to get you started, showing you two sign up offers, and walking you through the steps with videos and guides – just to see if it’s for you. This will give you access to the above software so you can see which bets to place.
How much money can I make?
With the amount of bookmakers online, there are plenty of ‘free bet’ offers for you to take advantage of. I’ve picked out seven of the best ones from well known bookmakers, and if you complete them all… you’ll get £290 worth of free bets for you to take advantage of, to extract as profit!
- Bet365 – Bet £100 get £100 in free bets
- Ladbrokes – Bet £50 get £50 in free bets
- William Hill – Bet £10 get £30 in free bets
- SunBets – Bet £10 get £30 in free bets
- 888 Sport – Bet £10 get £30 in free bets
- Betfair – Bet £10 get £30 in free bets (this will also be your exchange bookmakers)
- Coral – Bet £5 get £20 in free bets
When you are just starting out, it probably takes around 10-20 mins to complete each offer. So for 20 mins a day over seven days, you’ll have made yourself a tidy profit! You can either stop there, or plow through the many other sign up offers.
If you’re signing up to Profit Accumulator, it will only give you the Oddsmatching software for the two intro offers to start with. You’ll need to pay a membership fee to access the other offers. You can get full access for £1 for three days however (so you can take advantage of Cheltenham this week). And of course, you’ll more than make your money back. There are 100s of offers listed on Profit Accumulator for you to work your way through, if you do decide to upgrade.
How to max matched betting with cashback
I’m sure most of you are aware of TopCashback. It is a website that gives you cashback for completing online purchases by clicking through its website.
Well… did you know that TopCashback offers cashback for a lot of betting websites (and it’s MORE than the amount you deposit), which can be claimed on top of the new customer offers? It’s true, and it’s a way to double your profits when bets are settled and cashback is claimed.
Lets take the list of bookie offers above. You can earn an extra £72.60 in cashback from TopCashback if you simply click through its site before you join these bookmakers. You’ll still get the bonus new customer offers too, meaning this is on top of your £290 in free bets:
- Coral TopCashback offer: Deposit and wager £10 – get £20 cashback
- Ladbrokes TopCashback offer: Deposit and wager £10 – get £20 cashback
- Betfair TopCashback offer: Deposit and wager £10 – get £20 cashback
- William Hill TopCashback offer: Deposit and wager £10 – get £12.60 cashback
So, if you complete all seven of the new customer offers above, and signed up through TopCashback for these four… you would make £350+ in profit when the cashback gets to you. I don’t know about you… but for me that could pay for several weekend breaks away somewhere hot!
Does matched betting end after the new customer offers?
No – quite the opposite! Even when the new customer offers are done, you receive an abundance of reload offers from bookmakers by email, so you will constantly be sent free bets to extract as cash. This is a reason why its good to have a separate matched betting email address to avoid spam!
There are also casino, bingo and poker offers to utilise too (those most of these aren’t totally risk free). I tried a casino offer a few weeks back, and although wasn’t totally risk free, I managed to hit a jackpot and withdraw £432.50 in cash!
So there you have it – a little intro into the world of matched betting. I hope that all made sense. This is a very simple guide of the basics. Once you start getting into it, there’s a lot more to learn, but Profit Accumulator walks you through the steps and explains things to you.. It may take some time to familiarise yourself with everything – but then you can go full steam ahead extracting profits!
Warning: if you think there’s a chance you’ll stray away from the ‘risk free’ bet offers, think twice before starting. The last thing you want to do is lose money!
Good luck if you decide to give it a go! Let me know how much money you end up making! If you have any questions, feel free to pop them in the comments below, tweet me on Twitter @Jordon_Cox or message me on Facebook.