Matched betting is a technique that allows you to make a profit from free bets and bonuses offered by bookmakers. It involves placing both a bet for and against an event at different bookmakers, ensuring that you will make a profit regardless of the outcome.
The process of matched betting begins by finding a free bet or bonus offer from a bookmaker. These offers are often used to entice new customers to sign up for an account, but they can also be found for existing customers through promotions or loyalty schemes. Once you have found an offer, you will need to place a qualifying bet in order to qualify for the free bet or bonus.
Once you have placed your qualifying bet, you will then use a betting exchange, such as Betfair, to lay the same bet against the outcome occurring. By doing this, you will have covered all possible outcomes of the event, and will make a profit regardless of the result.
For example, let’s say that you find a free bet offer that gives you a £10 free bet if you place a £10 bet on a football match. You would then place a £10 bet on the match at the bookmaker, and then go to a betting exchange and lay a £10 bet against the same match. If the team you bet on wins, you will receive your £10 free bet, and can then use that to place another bet and repeat the process. If the team you bet on loses, you will lose your £10 bet at the bookmaker, but you will also win your £10 lay bet at the betting exchange, resulting in no overall loss.
One of the key benefits of matched betting is that it is a low-risk form of gambling. Because you are covering all possible outcomes, you are guaranteed to make a profit, as long as you have calculated your bets correctly. It is also a tax-free way to make money, as all winnings from gambling in the UK are tax-free.
Another benefit is that it can be a good way to make money on the side, as you can often find a variety of free bet and bonus offers from different bookmakers.
However, matched betting is not without its drawbacks. It can be time-consuming, as you need to constantly search for new offers and keep track of your bets. It can also be difficult to know how much to bet in order to make a profit, as the odds can change quickly.
In conclusion, matched betting can be a great way to make a profit from free bets and bonuses offered by bookmakers. It is a low-risk form of gambling that can be tax-free and a good way to make money on the side. However, it is not without its drawbacks and can be time-consuming and difficult to master. If you’re considering matched betting, it’s important to do your research and make sure you understand the process before getting started.