Matched Betting - The Basics

HOW DOES MATCHED BETTING WORK?

Matched betting works by taking advantage of the free bets and bonuses offered by online bookmakers to make guaranteed profits. Quite simply, without these free cash offers, matched betting just wouldn’t exist. Unlike traditional gambling, matched betting carry’s no risk because when you place a matched bet, you bet on all outcomes in the betting event. This allows the matched bettor to obtain the bonuses from online bookmakers with no risk involved and then convert those same bonuses into guaranteed profit on their next bets.

In order for matched betting to work, you need to place two kinds of bets, a BACK bet and a LAY bet and you will place both of these in every matched bet you place.

BACK Bet (Betting for an outcome)

This is your normal type of bet, when you bet FOR something to happen, England to win a football match, a horse to win a race, Andy Murray to win Wimbledon. If the outcome happens i.e. England win, you win your bet; if it’s a draw or the other team wins you lose your bet. Back bets are placed with traditional high street bookmakers such as Ladbrokes, Coral, William Hill etc., all of which of course are now online and offering you free bets. 

LAY Bet (Betting Against an outcome)

This is the opposite to a BACK bet, when you bet for something NOT to happen, England not to win a football match, a horse not to win a race, Andy Murray Not to win Wimbledon. If the outcome doesn’t happen i.e. it’s a draw or England lose, you win your bet, (the Draw is covered aswell since you’re betting AGAINST England winning), if England do win you lose your bet. LAY bets are placed with Betting Exchanges such as Betfair, Betdaq, MatchBook etc.; you may have seen these advertised on TV.

SO WHAT DOES THIS MEAN

Every time you place a matched bet, you place a BACK bet with a bookmaker (who’s offering a free bet) and then LAY that same bet off with a betting exchange. Let’s take the example above, either England would win and your money would end up in the bookmaker, or the match would end in a Draw / other team winning and your money would end up in the betting exchange. Regardless of the result your money would end up in one site or the other.

The end result is the two different kinds of bets, the BACK & LAY bet would cancel each other out. Now this may seem pointless, you’d lose nothing, but you’d also win nothing either. But what if the bookmaker i.e William Hill was offering you a free bet for placing your first bet i.e. Sign up, bet £10 and get a £30 free bet. You would have made a £30 free bet from William Hill for virtually nothing.

THE QUALIFYING BET

The whole point of this first matched bet is not to make money at this point in time, instead it’s just a step that must be taken to allow you to qualify for a free bet from the bookmaker with no risk involved. It allows you to place a bet with your own cash in both the bookmaker and betting exchange safe in the knowledge that your funds will be returned to you plus the free bet once your bets have settled.

Instead your profit will come when you use your free bet on your second bet and this is always the case with matched betting. Your profit always comes from the free bet or bonus.  And believe us, there are tonnes of them out there for both new and existing customers alike, over £3000’s worth of free bets in fact

THE FREE BET

Once your free bet has been credited, it’s time to turn that free bet into guaranteed profit. To do this we need to bet the free bet in the bookmaker, this time using the given free bet for our BACK stake instead of our own cash unlike in the first bet. Again we need to place an opposing Lay on the same selection to remove all risk, however since half of the bet is not our own cash this time, but the free bet, we in fact lock in a guaranteed profit at this stage. We won’t go into detail on the maths or figures here; since our Automated matched betting software calculates all of this for you. But as a general rule, we can expect to return at least 70% - 80% of the free bet value as profit from each free bet we use. So around £17.50 - £20.00 profit from a £25 free bet. As you may gather, the profits from matched betting can add up quickly after just doing 3 or more matched betting offers.

SO WHAT DO WE DO

Freebets4all pin point virtually every online free bet or bonus offer and show you how to convert each offer listed on our site into guaranteed profit. We have sophisticated matched betting software ‘AUTOMATCHER’ that constantly scans the odds of over 70 online bookmakers and compares the Back odds in the bookmakers to the LAY odds in the betting exchanges. The software identifies matched bets with the closest matching BACK / LAY odds and returns the best matched bets for you to place. All’s you need to do is join our site, start reading the beginner offer guides, visit Automatcher for the suggested bookmakers and click on any bet row in the Automatcher matched bet table and the bet instructions will appear.

Every matched bet comes complete with detailed instructions telling you exactly what to bet on, how much to bet in each site (bookmaker / exchange), how to find the betting markets and exactly what profit you will make down to the penny. It really is that simple, if you follow our advice you simply can’t lose. 

LET’S TRY THIS WITH SOME REAL FIGURES

This is just an example however real figures are used, please don’t try to place this bet yourself. 

William Hill are offering a £30 free bet to all new members, to qualify for this offer you need to sign up to William Hill and place a bet of just £10.

To start we need to create an account with William Hill and deposit £10 into our betting account (we recommend you use a debit card to do this)

We also need to create an account with Betting Exchange, this site is used to LAY off any bets we make in the bookmakers. We recommend Betfair Exchange for this, again sign up and deposit £10 

With both accounts opened and funded were now ready to place our first matched bet. This involves 3 stages.

1.) Find a suitable bet

When looking for a matched bet we need to find a bet with closely matching BACK / LAY odds. This means the BACK odds in William Hill should be very similar to the LAY odds in Betfair Exchange. For instance if the BACK odds on England are 2.00 in William Hill we’d be looking for LAY odds of no higher than 2.10 in Betfair. 

The task of finding bets used to be time consuming, but with the introduction of our matched betting software ‘AUTOMATCHER’, this task is now automated and done for you at the click of a button. You will find Automatcher on our navigation menu at the top of our site. With Automatcher loaded, simply select William Hill from the list of bookmakers and click the ‘find bet’ button.

Automatcher will then compare the bookmaker back odds to the exchange lay odds and return the closest matching bets in an easy to read list (closest matching at the top). It shows you exactly what to bet on, at what odds, how much to stake and exactly what your profit will be. It’s also configured to handle different types of free bets and bonuses, so you can always find bets for any betting offers shown on our site. (both new and existing customers)

On Automatcher, the bookmaker odds are shown in blue and the betting exchange lay odds are shown in pink, making for easy comparison when looking at suitable bets. 

The William Hill free bet terms state that our first £10 bet must be placed at odds of 1.50 or higher in order to qualify for the £30 free bet.

This means we should only look for bets with back odds that are above 1.50 for this particular offer. You can set the minimum odds to 1.50 via ‘More Filters ’; this means Automatcher will then only return bets above 1.50. It’s worth noting that the higher the odds you bet at, the more money you will need in Betfair to cover your Lay bet, due to this we’re going to look for a bet with odds as near to 1.80 as possible so we don’t want to deposit more money into Betfair. 

See images on how to set filters, note you need to apply filters and click find bet again to display new bets.





 
When using Automatcher you can check the free bet offer terms in the grey box at the top and also on the bet instructions screen. Click ‘Read More’ link to view full offer notes. See Images on how to check free bet terms

 



For the purposes of this example, let’s say we’ve found a bet on Newcastle United v Burton Albion, Backing Newcastle to win at odds of 1.50 in William Hill and Laying Newcastle NOT to win at odds of 1.51 in Betfair.

THE QUALIFYING BET

To qualify for the William Hill £30 free bet, we need to place a £10 bet with our own money first. On Automatcher we search for a bet for William Hill and select the Newcastle v Burton Albion match by clicking on the table row, this will open the bet instructions.

It states we’ll lose 24p overall from this bet in order to qualify for the £30 free bet from William Hill. Don’t worry this in normal and it will be recouped back with our profit made from the free bet. On the left hand side it shows you exactly how much you will make back from the bet. And on the right it shows how much to deposit in each site to place the bet. We first deposit the required amounts into the bookmaker and betting exchange and then proceed to place the bet. In this example, £10 in William Hill and £10 in Betfair.

With both accounts funded we open both sites and navigate to the correct betting screens.

Following steps 1 and 2 as instructed we first bet £10 on Newcastle to win at odds of 1.50 in William Hill. If this bet wins it will return £5 profit. Note when matched betting you should always place your bet in the bookmaker 1st, followed by exchange 2nd. 

Now we need to cover the other half of the bet (the Lay bet). On Betfair Exchange site (top left) we navigate to the same betting market Newcastle United v Burton Albion and place our lay bet. To Lay we need to click the PINK box showing odds of 1.51 directly opposite Newcastle. Our lay stake will be £10.27, our lay liability will be £5.24. Click submit, then confirm to make sure our bet is placed

Note- When you place a LAY bet, your liability is what you stand to lose and your lay stake is what you stand to win (minus 5% commission), it’s the exact opposite to a BACK bet. In this instance you’ll make £9.76 if your bet wins (£10.27 lay stake minus 5% deducted commission) or lose £10.00 if the bet loses. 

With both bets placed, the matched bet is safely on and all outcomes are covered. You will make a £30 free bet from William Hill for an acceptable loss of just 24p.

Now we need to turn our £30 free bet in William Hill into at least £23+ guaranteed profit on our next bet.

See Outcomes below 

If Deportivo wins you will make £8.00 profit in William Hill and lose the £8.50 liability in Betfair Exchange, leaving you with an acceptable loss of -£0.50

If Laganes wins or the match is a draw, you will make £9.50 profit in Betfair Exchange (your £10.00 lay stake minus 5.00% commission) and lose the £10.00 in William Hill, leaving you with an acceptable loss of -£0.50.

THE FREE BET

Again we go to Automatcher to find a matched bet, but this time using the £30 free bet in William Hill and our own cash in Betfair. In order to maximise our profit from the free bet we want to look for a bet with higher odds, at least 5.00 or above, this is because the free bet stake is not returned in our winnings. So we use ‘ More Filters ’ and set the minimum odds to 5.00. In this example we’ve found a bet on Southampton v Crystal Palace, backing Crystal Palace at 5.50 in William Hill and Laying Crystal Palace at 5.50 in Betfair. We stand to make £23.53 profit from this bet. 

First we deposit the required funds into Betfair to cover the Lay part of the bet, remember we don’t need to deposit into William Hill since we’ll be using our £30 Free Bet. With both accounts funded and the odds checked in both sites we proceed to place the bet. 

This time placing the £30 free bet in William Hill on Crystal Palace to win at odds of 5.50. If this bet wins it will return £135 profit

Now we need to cover the other half of the bet (the Lay bet). On Betfair Exchange site (top left) we navigate to the same betting market Southampton v Crystal Palace and place our Lay bet. To Lay we need to click the PINK box showing odds of 5.50 directly opposite Crystal Palace. Our Lay stake will be £24.77, our Lay liability will be £111.46. Click submit, then confirm to make sure our bet is placed

Note- When you place a LAY bet, your liability is what you stand to lose and your lay stake is what you stand to win (minus 5% commission), it’s the exact opposite to a BACK bet. In this instance you’ll make £23.53 if your bet wins (£24.77 lay stake minus 5% deducted commission) or lose £111.46 if the bet loses. 

With both bets placed, the matched bet is safely on and all outcomes are covered. Since half of the bet was not your own money aka the William Hill free bet. You will lock in a guaranteed £23.53 profit from this bet.

SEE OUTCOMES

If Crystal Palace wins you will receive £135.00 winnings from the free bet in William Hill and lose the £111.46 liability in Betfair Exchange, leaving you with an overall profit of £23.53

If Southampton wins or the match is a draw, you will make £23.53 profit in Betfair Exchange (your £24.77 lay stake minus 5.00% commission) and lose nothing in William Hill as it was a free bet, leaving you with an overall profit of £23.53


Ready to place your first matched bet? Click here to go to Beginner Offers

<< Back To Matched Betting Guides
matched betting 6