“Let me start off by saying that I am NOT a gambler and matched betting is legal.”
Most of the people think that it is illegal. Matched betting sounds as though it could be illegal, tax-free money by utilizing bookmaker offers definitely seems as though it could be suspect. However, matched betting is completely legal and it has been featured on many reputable websites and even appeared in “The Guardian”.
Most of the people think that it is illegal. Matched betting sounds as though it could be illegal, tax-free money by utilizing bookmaker offers definitely seems as though it could be suspect. However, matched betting is completely legal and it has been featured on many reputable websites and even appeared in “The Guardian”.
Matched betting is one of the best ways to make money online. One of the main benefits of matched betting is there is no risk involved. Matched betting is a technique used to profit from the free bets offered by bookmakers. To do this, you must place two bets, one for and one against an outcome. To put it briefly, you win no matter the outcome because you are betting on both outcomes.
HOW MATCHED BETTING WORKS
Lets get familiarized with a few terms first:
- Back bet – It means betting for the odds of an event. Example – “I bet that India will win”. So, you win the bet if the team wins the game.
- Lay bet – It means betting against the odds of an event. Example – “I bet Australia will not win”. You win the bet if Australia loses or draws the game.
- Bookmaker – a person whose job is to take bets, calculate odds, and pay out winnings.
Now lets get to know how it works…
You start off by placing multiple bets. You place a lay bet and a back bet, one for the odds and one against the odds. So, whatever maybe the outcome of an event, you always win.
Consider this example – You place a back bet on team A(for winning), and also a lay bet on team A(for not winning), whatever may be the scenario, you always win the bet.
You may be wondering how you get money – the bookmakers giveaway money in the form of free bets and bonuses. For example, let’s say a bookmaker is giving away $10 if you bet $10 on tennis. If the odds are right, it would be possible to bet on Player A(back bet) to win and bet against (or lay) Player A at a betting exchange.
After the match your original $10 is returned and you get your $10 bonus from the bookmaker. You can then repeat the matching process (one bet at the bookmaker, and equivalent but opposite lay bet at the betting exchange) with your free bet amount(given by the bookmaker).
Now I know that all of this seems confusing, let me summarize it for you:
- You place a bet in favour of an event and also against it. Whatever may be the outcome, you win money which is given to you by bookmaker in the form of free bets.
- You can then use those free bets to repeat the process – one bet at the bookmaker, and equivalent but opposite lay bet at the betting exchange) and win again. This way you can earn money.
HOW MUCH PROFIT DOES MATCHED BETTING MAKE
For each matched bet, you will be left with up to 95% of the free bet amount as profit. This is because betting exchanges usually charge a commission of 5% on winnings. You may also lose a very little on the qualifying bet due to the minor difference in odds on each website. This is normal, and you will get this back when you use the free bet.
HOW TO START MATCHED BETTING
You firstly need to have a debit card in order to start for matched betting. Then you will need to create an account on Coral and Betfair.
CREATING ACCOUNT ON CORAL:
1) Head over to Coral
2) Fill in the required details such as your name, country, email, address etc.
3) After that you will have to create a username and password and also enter the currency you want to use. Finally, click on complete registration.
CERATING ACCOUNT FOR BETFAIR
1) Click on the button below to begin the process of creating a Betfair account.
2) Click on the “Join Now” button on the home page.
3) The Betfair sign up screen appears which displays the registration fields. Some of the fields are a requirement and some are not.
4) You must provide the following information to open a Betfair account:
- Basic contact details.
- Betfair account details including an email address and Password.
- An answer to the security question.
- Betfair account currency.
- Optional promo or referral code
PLACING BETS
Ideally you want to find a sporting bet (I recommend football) which has the closest odds on both Coral (back bet) and Betfair(lay bet).
Lay odds on Betfair are the red boxes, not the blue. If you cannot see any red boxes, you need to go to the exchange by clicking the top left link “Go to Exchange” or “Exchange”.
Coral’s terms state you must pick odds of 1.5 or greater. It’s better to choose a bet with low odds between 1.5 and 4.0 if possible.
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| Image courtesy – savethestudent |
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| Image courtesy – savethestudent |
After the match, you will get your rewards in the form of free bets and you can use them again to place new bets. When you are done, withdraw the profits and spend on whatever you like!
So guys that’s all for matched betting. This is one of the best ways you can use to make money online.
Online Business Addict 
