Matched Betting (Updated June 2012)

You can take advantage of free bets by using a system called matched betting.
This will ensure that you don't throw away the free bet and actually turn it into a profit.
A nice part time income can be earned by using this system and its risk free.
Never will your own money be at risk of losing.
Use the bookies free bets to GUARANTEE a profit.

Using a technique called matched betting, it’s possible to convert any of these free bet offers into guaranteed profit regardless of the event outcome......

QUESTION: What is matched betting?

Matched betting is a method that gives anyone an opportunity to obtain and convert any free bet offer into guaranteed profit with no risk involved. Matched betting has two very simple steps.

1)     The qualifying bet.

2)     The follow up bet.

Step 1 – The Qualifying Bet

To obtain the free bet without throwing away your money, you will need to Back a selection with the free bet bookmaker and Lay (bet against) the same selection with a betting exchange. Thus, making the bet risk free. You will receive your free bet once the qualifying bet has been completed.

Step 2 – The Follow up Bet

In step 2, the follow up bet is a repeat of step 1, but this time you use the free bet as your stake to Back the selection with the bookmaker and again Lay (bet against) the same selection with a betting exchange to make the bet risk free. Since you are using the free bet and not staking your own money at the bookmaker, you have now accumulated some profit with no risk to your betting bank.

 

Step 3 -- Withdraw your profit

Withdraw your profit and/or your original stake and move onto the next free bet offer. There are  thousands of pounds worth of free bets available and you can obtain on average, 65% of the free bet amount.

QUESTION: What is a Betting Exchange?

To begin matched betting you will need to open an account with a Betting Exchange. Open an account and on the registration page select ‘YES’ when you come to the question: Do you have a Promotion or "Refer and Earn" code? Enter the following code: HW3MWWHUF

Sign up through this link, deposit £25 and receive a £25 free bet. An exchange is like being the bookmaker rather than the punter, so unlike traditional bookmakers an exchange gives you the option to Lay as well as Back, and this is crucial for the matched betting technique.

Unlike betting with a bookmaker, punters are able to choose the price they want to bet at and not the price they’re told they can have. Every bet placed on a betting exchange, involves a backer and a layer. A backer thinks a particular outcome will happen, where as a layer thinks that it won’t happen. The odds and amounts that you see on each market are people asking for or offering bets, these are called unmatched bets. When someone accepts one of these bets by either backing or laying, the bet is on. This is called a matched bet. Betting exchanges charge a small commission but this is included in the calculated profit.

QUESTION: What is Laying?

On an exchange you can make money out of a selection losing, by laying a selection. Laying a bet means you are betting on an event NOT to happen – a match NOT to end in a draw, a horse NOT to come in first etc.

It might sound complicated and new, but you’ve probably been doing it without realising for years. Have you ever had a bet with a friend, it might have been over a game of a pool, or a football match. Two opposing teams, two different opinions. Your friend is backing his team – if his team win, he wins. If his team lose, you win – you’ve effectively layed his bet by betting on something not to happen.

So, when you lay a bet you become the bookmaker, the stake is the amount you stand to win and NOT the amount you risk, you are now offering odds to a backer.

QUESTION: How do I choose my free bet?

You will find thousands of pounds worth of free bets listed in the EXCLUSIVE FREE BETS section here on the blog. To begin with I recommend that you start with the smaller free bet offers to build your matched betting confidence. Skybet  is ideal, they offer a £10 free bet with NO deposit needed.To maximise your profit you should always deposit the recommended amounts.   

Terms and Conditions of the free bet offer are always important. You will need to understand the following terms: 1) free bet stake returned (SR) and free bet stake not returned (SNR). 2) What are the minimum odds that the first bet must be placed at with the bookie to qualify for the free bet? For instance in Stan James you can only gain the free bet if your first bet selection is placed at evens or above. Generally the value of the FREE bet stake is NOT included in the return of any winnings, this is referred to as a “Stake Not Returned (SNR)” free bet (as opposed to a “Stake Returned (SR)” offer where the free bet stake is included in any winnings)

I can offer free advice on the best bets to wager.
Send me an email at: Freebetsfrombookies@hotmail.co.uk with ‘free bet advice’ as the subject title and I will ensure you are given the most up to date information for the appropriate free bet.

QUESTION: What are decimal odds?

All prices quoted on a Betting exchange are in 'Decimal' Odds. Decimal Odds are slightly different from Fractional Odds which are generally quoted by UK bookmakers. Decimal Odds include your stake as part of your total return. Therefore if you place a bet of £20 at Decimal Odds of 5.0 and win, then your total return (including stake) is £100. In a traditional bookmaker this would be quoted as 4/1, total return  to you would be winnings of £80 plus your original stake of £20.

The qualifying bet

Back to step 1 of the matched betting process, the first bet that you must place to obtain your free bet. Normally a very small calculated loss is incurred with the qualifying bet (around 2 - 5% of the free bet value), and you will be aware of this before you place the bet. This loss is acceptable as it means you guarantee your free bet and all losses which occur at this point are covered by the profit made in step 2 - the follow up bet (average 65% of the free bet value)

The Example Match - Liverpool v Chelsea   (Figures quoted from automatcher)

Place a £25 bet at Totesport to qualify for a £25 free bet, and lay (bet against) the same selection with a betting exchange (Betfair) to make the bet risk free.

Deposit £25 in Tote sport to qualify for a £25 free bet

Deposit £26.83 in Betfair to cover the bet

In Totesport stake £25 backing Liverpool to win at odds of 2.00

In Betfair stake £24.39 laying Liverpool NOT to win at odds of 2.10, your liability will be £26.83 (What you must payout if your Lay bet loses)

Remember when laying you essentially act as a bookmaker, your lay bet is accepted by an opposing backer on the site. Your £24.39 Lay stake is what you stand to win, and the liability £26.83 is what you stand to payout.

If Liverpool win you will make £25 profit in Totesport and lose the £26.83 liability in Betfair = -£1.83

If it’s a Draw or Chelsea win you will make £23.17 profit in Betfair (the £24.39 lay stake minus 5% commission) and lose the £25 deposit in Totesport = -£1.83

That’s it, all the event outcomes have now been covered, we’ve gained a £25 free bet from Totesport for a small loss of just £1.83. Now we just need to cash the free bet out for a guaranteed profit

The follow up Bet – Stake not returned (SNR) free bet

Generally the value of the FREE bet stake is NOT included in the return of any winnings, this is referred to as a “Stake Not Returned (SNR)” free bet. When cashing out an SNR offer, it’s not recommended to place the free bet on an ‘odds on’ favourite if you will only make a return of just 50p. Instead we will look for closely matching back and lay odds, at least 3/1 (4.0) or more, to maximise your return from the free bet.

The Example Match – Liverpool v Fulham  (Figures quoted from automatcher)

Place a bet with Totesport using the £25 FREE bet as your stake and LAY this selection on a betting exchange to ensure a risk free profit whatever the outcome.

Since you are using “FREE” stake money to back the selection and will lay the bet off in a manner that guarantees the same overall return whatever the outcome, you have now generated some risk free profit.

£25 free bet in Totesport                          

Deposit £65.92 in Betfair to cover the bet

In Totesport stake the £25 free bet backing Fulham to win at odds of 4.33

In Betfair stake £18.31 Laying Fulham NOT to win, your liability will be £65.92 (what you have to payout if your Lay bet loses)

• If Fulham win you will make £83.33 profit in Totesport covering the £65.92 liability lost in Betfair. Profit = £17.39
• If it’s a Draw or Liverpool win you will make £17.39 profit in Betfair (your £18.31 lay stake minus 5% commission) and lose nothing in Totesport as it was a free bet. Profit = £17.39

That’s it; all event outcomes have been covered, we will make £17.41 profit from the £25.00 free bet. That’s just over a 69% return from the £25 free bet and even after we account for the £1.83 loss to obtain it, that’s an overall profit of £15.58, still over a 62% return on investment!

I aim to make at least a 70% return of any SNR free bet offer. It is possible to make higher returns, using higher more closely matched back and lay odds, but the higher the lay odds, the higher the liability in Betfair. Just a reminder, your money is never at risk, but its best to start with an amount you are comfortable with. Roughly, with equal back and lay odds, the % return for an SNR will be approximately 70% at odds of 3.7

You will become familiar with the back and lay odds once you have made a few bets. You can look at the various outlays / return and check out how much the free bet will cost you. You will soon find a level that you are comfortable with in terms of outlay and profit margin.

 

The follow up bet – Stake returned (SR) free bet

If the value of the free bet stake is returned along with your winnings, this is referred to as a stake returned (SR) free bet. In this instance, the free bet can be placed at any odds and it has little effect on the return, with (SR) offers this is normally around 95% of the free bet value. The free bet is credited instantly upon placing your first bet (step 1) and you can quickly move onto step 2.

The Match – Man U v Birmingham         (Figures quoted from automatcher)

Deposit £10 in Coral to qualify for a £10 free bet

Deposit £4.66 in Betfair to cover the bet

In Coral stake the £10 Backing Manchester United to win odds of 1.22

In Betfair stake £10.36 laying Manchester United NOT to win, your liability will be £4.66 (what you have to payout if the bet loses)

If Manchester United wins you will make £4.50 profit in Coral to cover the £4.66 liability lost in Betfair. Loss = 16p

If it’s a Draw or Birmingham win you will make £9.84 profit in Betfair (your £10.36 lay stake minus 5% commission) to cover the £10 deposit lost in Coral. Loss = 16p.

That’s it; all event outcomes have been covered, you have gained a £10 free bet from Coral for a small loss of 16p.

The £10 free bet is instantly credited with this particular offer and will appear in your balance as soon as you place your first bet. Since the free bet is stake returned, the £10 free bet can be bet at any odds and you will still make a decent profit, so place exactly the same bet again, but this time use the free bet as your stake money to back in Coral.

The Match – Man United v Birmingham         (Figures quoted from automatcher)

£10 Free Bet in Coral

Deposit £4.66 in Betfair to cover the bet

In Coral stake the £10 free bet Backing Manchester United to win odds of 1.22

In Betfair stake £10.36 laying Manchester United NOT to win, your liability will be £4.66 (what you have to payout if the bet loses)

If Manchester United wins you will make £14.50 profit in Coral (the returned £10 free bet stake plus £4.50 winnings) covering the £4.66 liability lost in Betfair. Profit = £9.84

If it’s a Draw or Birmingham win you will make £9.84 profit in Betfair (your £10.36 lay stake minus 5% commission) and lose nothing in Coral as it was a free bet. Profit = £9.84

That’s it; all event outcomes have been covered, we have made £9.84 profit from the £10.00 free bet. That’s just over a 98% return from the £10 free bet and even after we account for the £0.16 loss to obtain it, that’s an overall profit of £9.68, still over a 96% return on investment!

 

Your Next Steps

There are plenty of free bets available that can be used for matched betting, providing plenty of opportunities to grow your matched betting bank and with no risk. I recommend starting slowly and gain a full understanding of the back and lay bets, but please contact me  with any questions you have.   A full list of free bet offers can be emailed to you with all the necessary terms and conditions if you wish at no cost to you. I appreciate your interest in this information and I am willing to work with you so you can gain maximum profit from free bets from bookies. 

TAKE A LOOK AT THE EXCLUSIVE FREE BETS SECTION AND BANNERS AROUND THIS BLOG AND WIN SOME RISK FREE CASH.


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Winning Ways

I have opened accounts with several bookies and claimed the free bets available. The majority of bookmakers have ongoing promotions so there is always a good deal available.
If you need any assistance or have any questions about opening accounts, then leave me a message and I will answer as soon as possible.