About this 2018 complete matched betting guide.
Here at Oddssmasher matched betting blog we are passionate about bringing you the best, clearest and most simple to follow matched betting guides. That will help ease you into the hugely profitable world of matched betting. If you are new to it you will find that this matched betting guide is the perfect starting point as it isn’t written for matched betting in 2018 and if followed correctly will mean that you will make your first matched betting profits without failure!
The main difference between this matched betting guide and all the others out there on the internet is that in this example we are going to use the Smarkets betting exchange instead of Betfair. The reason for this is because Smarkets only charge 2% commission compared to Betfairs 5% and this represents a huge saving to you which essentially means more profit in your pocket.
What is matched betting and is matched betting still profitable in 2018?
Before we get on with this matched betting guide I think it would be appropriate to go over what match betting is. If you get a grasp of the concept first it will help you get a grasp of what is going on with the example later on.
Matched betting as it is commonly known is the process of making a guaranteed profit from bets made at online bookies such as William Hill, this may sound insane especially if you follow the old “gamblers never win” mantra but stick with me as you will soon see that this is a bet that you cannot lose!
The basic idea is that online bookmakers want to get new customers to gamble on their websites and to do this they try to tempt them by offering free bets after they place their first bet. By matched betting we can take advantage of these free bets in an art known as bonus bashing. When matched betting was first discovered it was an absolute gold mine, slowly but surely though bookmakers are trying to find ways to stop us but matched betting is still very profit in 2018! In fact matched betting in 2018 is a great time to start before it gets harder still.
So the basic idea is that we place a series of bets known as back and lay bets to cover all outcomes of the sporting event thus ensuring that we will not lose any money.
- A back bet is the bet we place at the online bookmaker, with this bet we are saying that we believe an outcome of a sporting event will happen.
- A lay bet is a bet that we place at an online betting exchange, this is the polar opposite of a back bet and is like us saying that we believe the same outcome will not happen.
So as you can see by placing these two bets we have every eventuality of the sporting event covered! Let’s now go through a step by step matched betting guide example.
Complete beginner matched betting guide 2018.
First off before we start the matched betting guide we need to check that we have the essentials for completing this mission! Here is a checklist of things you will need,
- A float or bank, I recommend a minimum of £100 although if you have a little bit more to start with the process will be much easier and quicker.
- A bookmaker account- In this guide we will use William Hill. Click this link to be taken to William Hill and then set up your account. When prompted enter the code C30 when you deposit £10 this is very important if you want to receive the free bets!
- A betting exchange account- In this guide we are using Smarkets as they offer an incredible commission rate. Click on this link to open your account with Smarkets and you will also receive a free bet from them.
- An Oddsmonkey subscription- Now this is not a necessity but Oddmonkey will help you to make £1000+ per month matched betting and provides you with all the tools you will ever need. It costs £17.99 per month but will make you so much more than its cost, plus you will also then receive a 0% commission deal with Smarkets! See here for more info.
Hopefully now you have followed the checklist, opened an account with William Hill and deposited £10 with the code c30, have a betting exchange account at Smarkets and are ready to go!
I really hope you decided to take the plunge and get an Oddsmonkey subscription as this next stage will be so much simpler and quicker. For the first stage of the matched bet we need to find a football match where the odds to back a team and then lay the same team are almost identical. If you did not get the Oddsmonkey account then this means looking manually at football games at William Hill and then finding the same match with close odds at Smarkets.
If you have opened an Oddsmonkey account then head over to their Oddsmatcher software in the tools section. Click on filters and then set them exactly as I have done on the screenshot below.
As you can see above the Oddsmatcher has filtered out all the odds at both William Hill and Smarkets and found the ones that are the closest match between the back and lay odds.
It is always best to stick to football teams that you have heard of as this will be better for longevity of your betting account. Because of this i have highlighted the France vs Columbia game and will use this match for out example. Now that we have settled on the football matched that we are going to be matched betting on we need to find the same game on both William Hill and also Smarkets, this can easily be done by using the search functions on both of the websites and searching for the team name that you are looking for.
The above screen grab is what you will see at William Hill, as you can see just like Oddsmonkeys oddmatcher told us the odds for France to win the football match are decimal 1.53, as standard the odds on William Hill are fractional so you will need to scroll down the home screen and there will be a box to flick over to decimal odds.
The terms and conditions state that if we want to receive the free bet our first bet must be at decimal odds of at least 1.5, make sure that when you are doing your first bet that you stick to that rule as it is very important if we want the free bet. Now that we have found the France odds we will place our first qualifying bet by simply clicking on the team and odds and entering our stake of £10. Our back bet is now complete so it is time to go and lay our bet off on the betting exchange!
Above is the view of the same football match but this time on Smarkets betting exchange. It may look a little bit confusing and daunting but it is really straight forward, the top section of the block is all of the odds for France. The only box that we need is the lay box and on Smarkets this is the blue box, so as you can see the lay odds for France in the blue box are decimal odds 1.56 just as the oddsmatcher said they were. Now that we have placed our back bet out William Hill and found the lay bet we need to run the figures through Oddsmonkeys calculator to work out our lay bet stake.
As you can see above we have entered our back bet stake of £10 with back odds of 1.53 and lay odds of 1.56, also we change the commission to 2% as we are using Smarkets instead of Betfair. With these figures the calculator tells us that we need to lay £9.94 at odds of 1.56 on Smarkets, the liability of this lay bet (the amount of money we need in our smarkets account) is £5.57. We can now go back to Smarkets and click on the blue lay bet box for France and enter the stake of £9.94 and press bet! After that is complete we will have now finished our qualifying bet with a total loss of 27p but do not worry once the football match is complete we will be given £30 in free bets from William Hill and this is where we get our profit from.
Matched betting guide 2018, turning free bets into profit.
Now that the football match is complete we will have £30 of free bets in the form of 3x £10 bets. To turn this into a profit we simply do another matched bet on a football match again. Use the Oddsmatcher again to find a football match where the odds are close again but this time aim to find one where the decimal odds are 5 or above as this will allow us to extract a little bit more profit from the free bets.
For the sake of this matched betting guide example i will use a fictional football match between team A and team B. The decimal odds of team A are 6 to back and 6.1 to lay and we have £30 in free bets to use up so lets run that through Oddsmonkeys calculator again.
We have entered the Odds to back and lay team A with our £30 free bet and one crucial thing to not is that at the top of the calculator we have switched the bet type to FREE BET (SNR) which means stake not returned, this is because the bookmaker does not give us our stake back with a free bet. As you can see at them odds and stake we can place our free bets of £30 at William Hill and lay a stake of £24.67 at Smarkets, this will then give us a total of £24.18 no matter if the bet wins at Smarkets or at William Hill!
This may have seemed slightly confusing so you may want to read through it a couple of times but once you have done a few of these matched bets it will literally take 5 minutes of work to set it up and make a profit. There are hundreds of bookmakers to matched bet and we have some of the best ones in the Oddssmasher matched betting blog free bet section so why not give them a try as well.
I really hope this complete matched betting guide has helped you place your first ever matched bet and given you the skills to make hundreds or even thousands of pounds per month in profit! if you have any questions please feel free to use the comments box and i will get back to you ASAP.