Matched betting is the process by which you can take advantage of free bets UK with bookmaker brands. These free bets may be part of a welcome offer or in a package of bonuses for existing customers. No risk matched betting involves placing back bets (backing) with a fixed odds bookmaker and taking bets (laying) the same outcome on a betting exchange. So, here are the best betting sites in each area that provide great odds for no risk matched betting, followed by our matched betting guide:
As part of this matched betting guide, here are the answers to the most common questions related to free bet offers that can be utilised to make easy money from matched betting offers. You’ll find a more advanced FAQ below.
What is matched betting?
Matched betting UK is a process involving a series of steps which facilitate the use of bookmaker free bets to make easy money. Just about every UK-facing bookmaker offers free bets and bonuses as part of a new customer offer. The betting industry is constantly looking for signups and potential new customers can select from a number of operators. Therefore, betting sites promote free bets as an incentive to open an account, deposit betting funds and place bets. These free bet offers provide windows of matched betting opportunities.
Here is a small glossary of terms that is a useful element of this matched betting guide:
- Back: A bet on something to happen.
- Lay: A bet on something not to happen.
- Bookmaker: An operator that accepts back bets.
- Betting Exchange: An operator that accepts lay bets.
Matched betting involves placing a back qualifying bet and back free bet with a bookmaker and counter lay bets with a betting exchange. Consequently, there is a calculation that allows you to make easy money with little risk. However, timing is key to matched betting. The calculation depends on the current betting odds, which are constantly fluctuating in response to the weight of money. Hence, there is a brief amount of time to place the counter lay bets.
How to do matched betting?
Matched betting requires a calculation to ensure you make a profit using free bets. There are three stages in this process:
- Place a qualifying bet.
- Claim the free bet.
- Use the free bet.
For each qualifying back bet, there is a counter lay bet on the same event. You are backing something to happen and the same thing not to happen, by placing a back and lay bet. The matched betting works out the stakes. You enter the stake and odds for the back bet with a bookmaker and the lay odds on the betting exchange. The calculation tool works out the lay stake. However, you might lose a small amount but the qualifying bet unlocks the free bet.
You are backing something to happen and the same thing not to happen, by placing a back and lay bet.
Once the bookmaker credits the free bet, you follow the same procedure using the free bet. It is the same calculation with the proviso that the bookmaker does not return the free bet stake. The net result is a profit regardless of the outcome of the two events. So, you will find a range of calculation tools at OddsMonkey and Profit Accumulator.
How does matched betting work?
The best way to illustrate how matched betting works is with a worked example. We are assuming the bookmaker credits a new customer £50 in the form of a free bet. The offer might be a 100% matched bet bonus, which means the value of the free bet equates to the value of the qualifying bet. Alternatively, the bonus is a 50% matched bet bonus when the free bet is half the qualifying bet. Another scenario is a 200% matched bet bonus when the free bet is twice the qualifying bet.
T&Cs: New UK members only | Min. dep.: £10 | Wagering: 1x free bet | Odds: 2.0 for the qualifying deposit and 1.8 for the free bet | Max. bonus: £10 | Valid: 14 days | Full T&Cs apply | 18+ | BeGambleAware.org
For the purposes of this example, a bookmaker is offering a 100% matched bet bonus for up to £50. Let’s assume the first deposit is £50 which makes the maximum free bet available. You can use a basic spreadsheet to make this calculation or the Profit Accumulator and OddsMonkey calculator. However, the calculation must take into account betting exchange commission on winning bets which we will assume is at a standard rate of 5%.
Here are the two elements of matched betting using free bet offers:
Matched Betting Calculator
£50 back at 3.0.
£46.88 lay at 3.25.
There are 2 potential outcomes:
- If the bet wins, you win £100 from the back bet but lose £105.48 from the lay bet for a net loss of £5.58.
- If the bet loses, you lose £50 from the back bet but win £46.88 from the lay bet for a net loss of £3.22
So, there is a small loss regardless of the outcome, but you have unlocked the free bet.
£50 back at 5.0.
£36.70 lay at 5.50.
There are 2 potential outcomes:
- If the bet wins, you win £200 from the back bet but lose £165.15 from the lay bet for a net profit of £34.85.
- If the bet loses, you lose the free bet but win £36.70 from the lay bet for a net profit of £36.70
Hence, the guaranteed overall profit is £34.85 or £36.70, regardless of the outcome.
OddsMonkey or Profit Accumulator provide good calculation tools. You calculate the qualifying bet ‘Normal’ mode and the free bet in ‘Stake Not Returned’ Mode. The normal convention with bookmaker free bet offers is that any winnings from a free bet do not include the free bet stake. In effect, that would be increasing the value of the free bet.
You must be aware that back and lay odds are constantly changing so, in both parts of the process, it is imperative to place the counter lay bets without any delay. Matched betting is now very popular, which means there are many resources which help you identify opportunities to use betting sites free bets. Market forces will soon close the small window in which to place back and counter lay bets.
What is no risk matched betting?
You can take matched betting UK a stage further with no risk matched betting. There is an option on the calculation tool to work out the required lay stake in ‘Risk Free’ mode. Conventional matched betting is virtually risk free because of the use of a calculation tool. Tools adjust mathematical calculation process to take into account risk free best bet offers.
The whole process can be time consuming as you must identify the free bets and windows to take advantage. Manual calculations can be quite complex even using a spreadsheet. Hence, there is value in subscribing to resources such as OddsMonkey and Profit Accumulator, which provide calculation tools for all types of free bet offers.
How much money can you make from matched betting?
Some online subscription services may overestimate the amount of money you can make from matched betting. Even so, the raft of sign up free bets can net several hundred pounds if you follow the correct procedures. The ongoing free bets provide daily matched betting opportunities. However, it is important to have a good measure of organisation. This means having adequate funds in your bookie and betting exchange accounts. You must also be aware of the importance of timing.
Keep your expectations in check and don’t take a smooth process for granted.
It is feasible to retain up to 90% of a free bet. The process can be repeated for recurring free bets and the profits are mainly risk free or low risk. A rough guide to the easy money on offer is about £20 per hour tax free, but the opportunities would take up no more than two hours each day. The use of calculation tools is essential because manual calculations are time consuming and subject to errors. The risks associated with matched betting are making mistakes and poor timing.
The key to any successful money-making system is discipline. You must keep your expectations in check and don’t take a smooth process for granted. Matched betting requires concentration and a structured approach. There are some pitfalls such as the potential for mistakes and delays in placing the lay bet until the odds have changed. However, you can make a decent second income from the use of free bets UK and no risk matched betting.