Beginner matched betting guide, step by step first profit.

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The matched betting guide 2017

Now updated for matched betting in 2018, this beginners matched betting guide is updated and ready for you to follow and make your first profitable steps into the world of matched betting.

I guess by the fact that you have stumbled upon this webpage you are interested in making some money to supplement your income or maybe buy some extra luxuries? well here is the ultimate 2017 matched betting guide to help you on your way to risk free profits. This is a beginner matched betting guide for someone who is just looking at getting into matched betting. I want this matched betting tutorial to help you easily and seamlessly make your fist profits but first lets have a little catch up.

A quick recap on what matched betting is.

Matched betting is the process of making risk free money by exploiting free bets offered by the vast majority of online bookmakers. With so many different bookmakers fighting to take money from mug punters (mug punter = regular gambler) it is hard to stand out from the crowd, so to entice them to gamble their hard earned cash the bookies actually have offers to try and tempt gamblers to switch to their services, this is where matched bettors can work magic and exploit free money from the greedy bookies! We are not gamblers, we play with maths and opportunities to guarantee a profit no matter what the result of the bet is. Throughout the years I have tried so many different ways to supplement my income and matched betting has been the easiest and most lucrative way yet.

So keep reading this matched betting guide and start your journey into making up to £2000 tax free per month.

Are you sure matched betting is not gambling?

Ok this is quite important for a matched betting beginner to understand before we get underway with the guide. The simple answer to this question in no, matched betting is not gambling. The whole idea of matched betting is to guarantee ourselves a profit every time by covering all outcomes of the bet using some magical maths and calculators! We do this by actually doing two bets these bets are called, a BACK bet and a LAY bet. Our first bet which is the back bet will be done at the online bookies and our lay bet is done on a betting exchange, when I do the detailed example further down this matched betting guide I will show you exactly how to place and lay your first matched bet every step of the way, so get ready as it is coming up.

The step by step matched betting guide for beginners.

lets get this show on the road and starting making some cash! I am going to try to make this guide as simple as possible but i recommend reading it through twice just to make sure you have a firm understanding of the procedure, match better when done right is risk free but mistakes can take away the risk free element.

First things first here is an itinerary of items that we will need to complete our first matched bet.

  1.  We need a float of money to start us off. It is possible to start with around £100 but if you can get more then you will be able to grow your pot quicker.
  2. We need an online bookmaker to get a free bet from! In this example i am going to use a very popular one called William Hill. You can use this one by clicking on the below advert which will link you straight to the free bet promotion, make sure that when you deposit your £10 that you also enter C30 into the promotion code box or you will not recieve the free bets that we need!

 

3. You will also need to sign up for a betting exchange, I recommend you start with Betfair exchange as it is easier to use when starting up. Here is the link to the Betfair Exchange website.

4. The last thing we need is the oddsmonkey calculator, this is the calculator that works out the stakes we need to get profit risk free. here is the link to the Oddsmonkey calculator

Lets now progress to the matched betting guide!

Now I am going to assume that you have used all the links and have signed up and deposited your £10 in william hill using the code, signed up to Betfair Exchange and also have the Oddsmonkey calculator open, excellent lets make some money then!

Now we are fully signed up and and have the bookie, exchange and calculator open in seperate tabs we are going to open the William Hill tab. The first thing we do as matched bettors is change the odds over from fractional to decimal as it is a lot easier to do our calculations, to do this look for the little box that looks like the image below and switch it to decimal

How to change the odds for matched betting
Change the odds to decimal

Next up it is time to find our qualifying bet. A qualifying bet is a bet which unlocks a certain bonus which in our case is £10 for £30 in free bets. To make a qualifying bet we need to look for odds that are quite low ( be aware that the minimum odds for this offer are 1.5 decimal) in my example here i will be using the English Premier League game between West Ham and Brighton. Lets now have a look at the odds for this game,

A picture showing how to find the matched betting odds

As you can see i have highlighted West Hams odds which are decimal 1.80 which is high enough for this offer, this is the odds for our BACK bet.

Now it is time to find the odds for the same game but on Betfair Exchange.

At first this may look quite confusing but all it is is three sets of two bet. The left hand set of blue/pink tabs are the home side which in this case is West Ham the middle set is for the draw and the right hand side is the away team which is Brighton. The blue boxes are back bets pretty much like what you have at the bookmakers and the pink boxes are the LAY bets. By laying a team we are basically saying that that team will not win, the magic of that is that it also includes the draw so with our back bet at William Hill and lay bet at betfair we will have covered all of the options.

Now it is time for the real magic of matched betting! We are now going to calculate our stakes using a complex calculator (do not worry its so easy). Our odds for the calculator in this example are:

  • Back bet at William Hill 1.8
  • Lay bet on the exchange 1.84
  • Stake to recieve the free bets £10

Lets run them figures through the Oddsmonkey matched betting calculator.

Matched betting lay stake

So this calculator tells us 3 very important things with them odds and stake entered. The first is that you could lay £10.06, Your liability will be £8.45 and no matter what the result is you will lose £0.45 do not worry this is perfectly normal! the lay stake of £10.06 is your stake and the liability is the amount you are set to lose if the result does not win at the exchange, but because we have bet at the bookies as well we will win there and vice versa.

Now lets place the bets and get the show on the road. First off on William hill you need to bet £10 on West Ham to win the match. Them lets head over to Betfair exchange again and lay the bet.

The lay and back odds for this matched betting guide are shown here

As you can see where i have highlighted yellow we have clicked on the pink lay tab at 1.84 and then entered a stake of 10.06 which shows a liability of £8.45, now press place bet. Very well done you have just placed your first ever matched bet and lost 45p! Do not worry though you now will have a £30 free bet in exchange for your 45p loss!

Matched betting to extract a profit from your free bet.

Now we have finished the first part of the matched betting guide  but we still have a little bit of work to do to make our profits. So we have lost 45p and have gained a £30 free bet and we need to change the free bet for some cold, hard cash. To do this we matched bet again and follow exactly the same path as the qualifying bet except this time we are trying to find odds that are over decimal 5 to extract as much profit as we can from the free bet.

Find another football match where the odds at William Hill are around 5 or over and the odds at the exchange are as close to the odd at William Hill as possible. For an example lets say that Man City are playing Chelsea and the odds of Man City to win are 5.2, we then check the lay  odds of Man City at the exchange and find that they are 5.3 so lets head back over to the Oddsmonkey matched betting calculator and enter the figures.

Matched betting guide view of the odds for this bet

Notice at the top of the calculator we have changed the mode from “Normal” to “Free Bet(SNR)” this is because stakes are not returned with free bets. We have entered our Stake as £30 which is the free bet amount and we have entered the back odds 5,2 and lay odds 5.3 and the calculator has told us what our lay stake is to enter on the exchange (£24) and what our liability will be (£103.20). Place the bet at William Hill and also the lay bet at the exchange, dont forget to use your £30 free bet as the stake at William Hill!

It also tells us that our profit from this bet will be £22.80! we need to minus our qualifying loss of 45p which means after the game has finished we will have made £22.35 profit from our matched betting. This has probably seemed very long winded and confusing but believe me once you have put it into practice it becomes very easy and you will find that the whole process of making a matched bet takes around 20 mins of work.

I really hope that this step by step matched betting guide has helped you make your first matched bet and profit, please make sure to read over a couple of times before doing the betting so you know for certain what you are doing. If you have any questions please do not hesitate to hit up the comment section and i will do my best to help.

Best of luck with your matched betting journey and don’t forget to check into the free bet part of this website for more of the best online betting offers for your matched betting.

If this matched betting guide has helped in anyway please think about sharing it with friends and family so they can share the risk free profits too.

To keep your matched betting account healthy I would recommend reading our how not to not get gubbed matched betting guide as this will teach you techniques to stop the bookmakers from finding out that you are taking risk free money matched betting.

Do not forget that Oddsmasher also has some of the best advanced matched betting guides and tutorials available on the internet, they are free to use and will take your matched betting profits to a new level. You can find the matched betting guides by clicking here and also if you subscribe to Oddssmasher by email you can get notifications to all new guides as they are released!

Happy matched betting.

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