Matched Betting for dummies — The Ultimate Guide
Hello, future Matched Betting masters! This is Ultimate Matched Betting for Dummies. Well, it is called “For Dummies”, but I prefer term for absolute beginners.
Before we start, I recommend you to visit this extraordinary website that provides you all needed help with Matched Betting: Bonus Bagging. You will get daily emails with information regarding what bets to place, with what stakes to place them and where to find them. All you have to do is to follow the instructions, place the bets and collect the profit!!!
I suppose if you read this article that you interested in Sports Betting and that you tried standard betting strategies.
With this Matched Betting for dummies guide that I will share with you now, with a little effort and patience you can GO from a newbie to a PRO!
And in no time you can earn tax-free profits each month with a just one hour of your time per day.
Yeah, yeah, I know, now come the questions… How is it possible? Is it legal? Is it hard? What do I need? Do I need fancy equipment?
Have a patience, my friends. Just sit down and read this article until the end and then decide.
So let us start. What is Matched Betting? Matched Betting is a form of risk-free online betting discipline that (if you follow the rules) guarantees a profit long term.
So how it is risk-free? Well, you bet on the same game and place two completely opposite bets, exploiting Bookmaker and Betting Exchange bonuses. So this is not gambling, it is a form of an investment that makes a profit. Of course, there is an issue with human error that can happen, but if you use one of the websites that provide you with good information and assistance, like Bonus Bagging, your job will be much easier.
And of course there is always a natural question. When it is so good and easy, is it legal? The answer is: Yes, it is completely legal. It is legal because there is no single element of Matched Betting that is illegal. You just exploit BONUSES that Bookies give you for free and convert them into real money.
Starting Your Matched Betting Adventure
What do you need to start Matched Betting? Of course, you need to be 18+ and apart from that you need a personal computer, laptop or mobile device with stable internet connection. That is it!
There are just a few things that we need to sort out before we start explaining the whole process of Matched Betting and that is Jargon used in Matched Betting.
- BACK BET – That is a standard type of bet. You bet on an outcome that you think it will happen. For example we have game between Arsenal and Chelsea. You think Arsenal will win. Bookie offers you odds 3.00 on Arsenal win. You place the bet, bookie accepts it and if the Arsenal wins you will win 3 times your stake (£10 stake on Arsenal win with 3.00 odds, you will get £30 with £20 of pure profit (£30 – £10 stake = £20)).
- LAY BET – Bet that something won’t happen. Lay betting is backing a selection to lose. In other words, you are playing the role of the bookmaker and have the opportunity to choose the odds that you want to offer and the stake that you’re willing to accept.
- BET STAKE – The amount of money that you will need to place when you take your BACK BET. The formula to calculate your winnings is simple: (stake * odds) – stake = profit.
- BET LIABILITY – The amount of money a lay bet will cost you if you lose your lay bet. The formula to calculate your loss in that situation is also pretty simple: (backers stake * (lay odds-1) = Liability.
If you want to know more about liability calculation and want to “play a bit with odds” visit Matched Betting Calculator and find out more.
Ok now when we got basic things we can go further.
Bookmakers V Betting Exchanges
There are two types of sites for online betting that you will need to use if you decide to go into Matched Betting waters, Bookmakers and Betting Exchanges. Bookmakers are traditional online betting sites like Bet365, Ladbrokes and Coral for example and they let you place BACK BETS, while Betting Exchanges are sites that let you place LAY BETS. Most popular Betting Exchanges are BetFair and BETDAQ for example.
Both of those types of betting sites use offers in order to stand out from their competition and to attract new customers. That is great news for you as you need those offers for Matched Betting. Those offers are usually free bets that are offered by Bookmakers and Betting Exchanges. Offers usually require you to place a bet in order to receive your free bet. Those free bets are called bonuses and with those bonuses Matched Betting players make their profit.
Is Matched Betting Really Trustworthy?
Well it is if you are disciplined and you follow the basic step every single time. There is of course a problem with human error/mistakes, but when you get a hang of it after first few bets it gets only easier, but please do not rush. That’s why it is important to have assistance with sites like Bonus Bagging to help you in every single step.
With good discipline, you can earn as much money as you want, but it really depends on how much time you put into Matched Betting. But in general my average matched betting profit works out around £50 per hour. So with one hour per day, I can earn up to £1,000 per month.
When you get hang of it you can run multiple bonuses at the same time, you will have more money in your bankroll but you will need to be more patient of course. Running multiple bonuses is hard, you need to be focused and there is a higher degree of human error there.
Tools You Need
Despite Matched Betting isn’t really hard at all, your Matched Betting journey can be a bit time slow at the beginning without a usage of right tools. Odds Matching Software is a perfect tool for you no doubt. This software takes away all the hassle of manually finding bets, and that can be really frustrating. Great software for that is Bonus Bagging Odds Matching software and their Matched Betting Calculator. This Calculator helps you to work how much you need to bet your back and lay bet to make sure the two bets cancel each other out.
So it is good to have reliable Matched Betting Service at your side such as Bonus Bagging. It provides you with Matched Offers and gives you all tools (including odds matching software, matched betting calculator etc.) to take all the hard work off your shoulders.
Start Making Money
I will now quickly walk you through the basics.
Matched Betting works by placing two rounds of opposite bets:
- Qualifier Bet – that is the bet you need to place in order to get a bonus.
For example, if the Bookmaker promotion is “Bet £10 to get a £30 Free Bet”, read the terms and conditions and see usually you need to put that bet on odds higher than 1.50. Sign up at that Bookmaker and after that sign up at one of the exchanges (for example Betfair).
Now find the game with odds greater than 1.50. If you took my advice and signed up for Bonus Bagging go to odds matching software, find perfect game and calculate with Matched Betting Calculator provided to work out how much you need to back and lay (BACK at Bookmaker and LAY at Betting Exchange).
After the selected match is finished you will get your BONUS credited.
- Profit Bet – with BONUS in your pocket now you repeat the same process, but with BONUS money. If your BACK bet wins you collect money from Bookie and if your BACK bet loses, you will collect the money from Betting Exchange. So it is WIN – WIN situation.
Extra Tips for Beginners
My personal recommendation is to use Betting Service. In this article, I wrote several times about Bonus Bagging. With this service, your Matched Betting journey will be much easier. You will get all the tools needed, explanations and support for your Matched Betting adventure. Just imagine somebody else doing all the hard work for you and you just collect the tax-free money.
Always write usernames and passwords on the piece of paper. Keep track of your Bookies and Betting Exchange accounts as in no time you will have more than 20 accounts opened at various Bookmakers and Betting Exchanges.
Pros and Cons of Matched Betting
- Guaranteed profits – there will always be offers and bonuses,
- Easy monthly income,
- Low start up costs – you don’t require a lot of money to start,
- No experience needed – with services like Bonus Bagging you will start trading like a pro.
- Human error risk – If you do end up making a mistake, it could be quite costly. This is why you need to check, and double check before you place your bets. I would highly recommend not placing any bets while you’re tired. If you do things step by step, then the chance of human error will be minimal.
- Can be a bit confusing at the start and people don’t understand it – The concept may seem complicated at first. If I was to speak to my father, for example, and explain that I’m able to save money for a deposit on a house thanks to matched betting he would be worried. I imagine he would worry that I was going to be gambling and would end up penniless and out on the street.
Overall, the pros definitely out way the cons. Spend some time doing all the research you can and you will see Matched Betting pays off.