Matched Betting For Dummies and Newbies
Hey – my name’s Baraka, I’ve been matched betting for over three years (sorry bookmakers!). In that time I have made over £20,000 profit (apologies again bookies) and I’m working with Team Profit as well as Oddsmonkey to create a super concise and kick-ass guide to help you all start profiting from this amazing technique.
I have tried to outline the most important things you need to know to get you started on the road to over £800 of risk-free money. Sounds pretty mind-blowing, doesn’t it? Continue reading and I’ll explain all you need to know to make this a reality.
Definition of Terms
Back bet = betting on something to happen
Lay bet = betting on something to not happen
Betting Exchange = somewhere you can place lay bets
Team Profit = the home of matched betting
Fractional odds = odds as a fraction (e.g. 4/1)
Decimal odds = odds as a decimal (e.g. 5.0)
What Is Matched Betting?
Matched betting is a popular technique that allows individuals to profit from bookmaker free bet promotions. It involves betting on all outcomes of an event, removing the element of chance, whilst at the same time triggering free bets from the respective promotions. These free bets can then, in-turn, be converted to cash profit by using similar matching techniques as before. The reason it is called ‘matched’ is because you are matching your bookmaker bet with an opposite bet on a betting exchange.
Matched betting isn’t new and has been around since the first betting exchange was launched back in 1999. Previously this technique was reserved for savvy betting traders only, but thanks to Team Profit and our simple to follow, step-by-step guides, we have made it accessible to absolutely anyone. Over 60 per cent of our members had in-fact never placed a bet in their lives before starting. We guide you through and support you every step of the way, starting with as little as £10 and making up to £800 from the welcome offers alone.
Do I need betting experience or sports knowledge?
Absolutely not. You don’t need any knowledge of sports or betting to benefit from matched betting. We have step-by-step, written and video instructions on all of the offers – which if you follow, you will make money. The outcome of the event is irrelevant, so any prior knowledge of sports is not needed.
As previously mentioned, over 60 percent of our members had never placed a bet before starting with Team Profit.
Is Matched Betting Legal?
It is 100% legal. This question is a natural reaction when something sounds too good to be true, but this is something that has been enjoyed by over 200,000 people in the UK so far and has had national coverage in both The Guardian and The Telegraph. We’re simply taking up the bookmaker’s on their overly generous free bet promotions.
Bookmaker’s refer to matched betting as ‘bonus abuse’ and the harshest action that they can take against a ‘bonus abuser’ is to stop offering them future bonuses.
Does It Involve Gambling?
Despite having the word ‘betting’ in the actual name and using betting platforms in our execution of the technique, it is not gambling. When done correctly matched betting carries zero-risk, unlike with conventional betting, where you place a bet in a hope that you can profit from it winning.
We teach you exactly how to cover all outcomes so that no matter the result, you profit from the free bets every single time.
Start Profiting From Matched Betting Today
Frequently Asked Questions
How Much Money Do I Need To Start?
We have created three bespoke ‘week by week’ guides, built into the welcome offers section, to allow our members start with as little as £10, £25 or £100+. The amount you start with impacts the speed at which you can move through the offers and the overall profit you can make.
Most commonly, members will start with a lower amount and once comfortable with the process, will move up to one of the larger plans.
How Much Can I Earn?
Profits don’t stop after you’ve completed the welcome offers. Bookmaker’s will keep on sending customers free bet promotions in a bid to keep them coming back and betting with them. Don’t mind if we do! From the 35+ welcome offers listed on Team Profit you can expect to make over £800.
From the ongoing offers beyond the welcome offers, the amount you can make varies depending on the time you put into them. These are definitely worth hundreds of £s a month.
How Long Does It Take?
First and foremost you need to take this at your own pace. The worst thing you can do is to try to rush into it, without fully understanding how it works. Learning the concepts of matched betting and understanding how it works will take roughly one hour with the help of our guides. Then once you’re up and running, each offer should take around 15-20 minutes whilst you’re still relatively new.
As you become more experienced, it shouldn’t take longer than 10 minutes an offer.
Is Matched Betting available outside of the UK?
Team Profit is focused on both United Kingdom and Republic of Ireland residents. It could well be that bookmaker’s offer profitable free bet promotions in your country of residence, but they will likely vary from those listed on Team Profit. The same principles still apply wherever you are in the world, but you will need to find the offers yourself.
Or alternatively see if there is a matched betting service specialising in your country.
Will it affect my credit rating and/or mortgage application?
Using bookmaker’s will not affect your credit rating. Bookmaker’s carry out ‘soft searches’ in order to verify that your registration details are correct, but these in now way impact your credit rating. Which makes sense as you are not applying for any kind of credit.
Be aware though, if you are setting up a new bank account specifically for matched betting, that you don’t inadvertently open one with an overdraft, as this action could affect your rating.
What if I already have some bookmaker accounts?
This is a very common concern from new members and rest assured, it is not one to worry too much about. Even if you have a handful of bookmakers accounts already, we have 35 welcome offers alone, so there will still be plenty of profit to be had.
When using our week-by-week guides, if you come to any that you already have accounts with, simply skip them out and move onto the next bookmaker to profit from. It’s that simple.
What is Team Profit
Team Profit is the most popular free matched betting service in the world and specialise in helping newbies get up and running with matched betting, so that they can start profiting.
With an extensive learning area, which includes eight videos and two quizzes you can further deepen your matched betting understanding. If at any point you require help with anything, Team Profit provide a plethora of support options; ranging from, live chat (on the website), email support and a private Facebook community with over 25,000 fellow members.
You will have seen bookmaker shops all across the high street no doubt, you often can’t walk 10 metres without seeing another – examples: Coral, Betfred and William Hill. These facilitate bets ‘over the counter’ and are the old school way to place bets.
They allow you to walk in and place a bet in return for a bet slip (ticket – to prove your bet was placed with them) and then if your bet wins you then head back with your betslip and collect your winnings in cash.
Online bookmakers offer the same service, but with the obvious added internet convenience. They have a website that offers all the available bets you can choose and if your bet wins your funds are added directly into your bookmaker account which you will then need to withdraw into your bank account (withdrawals can take 2-5 working days depending on the bookmaker).
Popular Bookmakers in the UK
Not all online bookmakers can be trusted with your money and so you need to be careful to only use those that are licensed to operate in the UK & Ireland and whom have a good reputation. Team Profit ensures that any offer we have on our site is from a trusted bookmaker, so you can always ensure your money is safe!
Betting Odds Explained
Every new bookmaker account you create will show the betting odds in fractional format. To follow our guides you will need to change them to decimals in the settings section (location explained in each guide). Here’s a quick summary of both:
An example would be 4/1 (which is 4 to 1). This means that for every £1 you put on a bet you get £4 profit.
So a £2 bet would return £8 profit + the £2 bet amount you bet….so £10 total returned.
The easiest way to think of decimal odds is that it is the fractional odds plus one. So the example before of 4/1 would be displayed as 5.0 in decimal odds.
To calculate the return of decimal odds, you simply multiply your bet by the decimal odds and the total will include the initial bet amount. So a £2 bet would return 2 x 5.0 = £10 (including the initial bet amount).
Opening Betting Accounts
This is generally very easy as bookmakers want to make it as quick and easy for new customers to sign up, as possible. The only friction that can sometimes occur is that bookmakers may request proof of your age and address in the form of a photograph.
Proof of ID can be provided in various forms; passport, driving license, voting card, identity card or PAN card. Proof of address in the form of; utility bill, bank statement or similar. Most bookmakers will check your details against the electoral roll, so this is rarely a problem.
Top tip: save a copy of a photo of your ID and address on an easy to access file on your computer so you can easily email it upon request.
Your Next Steps…
Follow our Matched Betting Guides
Make a start with your first welcome offer
We have lots of support options if you ever need them
Matched Betting & COVID-19 Pandemic Worldwide
Matched betting, like nearly every other industry globally, has been affected in some way by the ongoing COVID-19 pandemic.
So a frequent question we see being asked is ‘Is matched betting still possible and profitable during this time?’In short, the answer is yes it is, but you may now need to shift your focus to make a profit now .
The most obvious effect the COVID-19 outbreak has had on matched betting is the suspension of many sports such as most major football leagues and most horse racing. This, in turn, means there are fewer sports betting markets and offers from the bookmakers.
In spite of this, there are still matched betting opportunities to make a profit which we would like to share with you all to help alleviate any concerns you may have about still making a profit with OddsMonkey using matched betting.
Our mission at Profit Tips Betting and OddsMonkey is to be committed to helping you profit from our service by aiming to provide the best in class service for matched bettors.
This means that when our team was faced with the crisis, we have invested resource, research and time to adapt our service to minimize the disruption caused and maximize the profit opportunities still present and accessible – updates include building a new Casino hub, adding new markets to our tools and investing additional resource into sourcing offers.
Let’s take a look at some of the types of profit-making available to us right now with OddsMonkey, that we can do while we wait for the regular sport to return.
Sign Up Offers
If you are a newbie sign ups have always been the best place to start making a profit and they remain that way during this time. If you are already matched betting now is a great time to complete those sign up offers you have been putting off. Not only is there a load of easy profit on the sign up offers, but by opening those accounts you are opening up new reload offer opportunities.
The bookies are adapting like everyone else to offer their customers new markets to bet on so although there isn’t any football right now there are still lots of things you can bet on to get those offers completed. If you are new to matched betting then you can rest assured that the sign up offers are just as profitable as they were before. With well over £900 worth of profit to be made from sign ups alone, it is still a great time to start matched betting and start earning some quick profit.
With a lot of sport being cancelled, bookmakers have turned to other events like E-Sports so we have done the same and made sure that our Oddsmatcher and other tools have E-Sports markets allowing you to easily find great matches and get those offers completed in record time.
Weekly Bet Clubs
These are often overlooked by experienced matched bettors but bet clubs offer some of the easiest profit we can make from matched betting.
With a monthly value of over £200 from these offers alone, you can see how they are definitely worth a look.
Not only are they profitable but they are generally really easy to complete and some of them you will complete naturally simply by opting in and completing other offers during the week.
We have a dedicated section for weekly bet clubs which you can find here. This provides an easy and quick way for you to find those offers and mark them as complete as you go. Don’t forget to log the profit in your profit tracker and watch your profit grow day by day.
Using our daily offer calendar you can easily find the best offers that suit you and see when they are available. This helps you plan your day or week and make the most of the available offers. Visit the daily offer calendar here.
If you have overlooked casino offers so far in your matched betting career then there has never been a better time to get started with them. While there are no guaranteed profits with casino, as there is with regular matched betting, there is a huge amount of value and our members regularly report that casino offers are where they make the most profit.
Like sports offers, there are sign up offers and reload offers. The sign up offers have a huge amount of expected value and many of the offers are completely risk free so you can give them a go without risking any money at all.
With there being much less sport available bookmakers have started offering more casino reload offers and some of them are much more lucrative than usual. To make it as easy as possible for our members we have added a dedicated Casino Hub to our site that provides easy access to guides, tools, offers and detailed information on the best slots to use for your offers. Check out the new casino hub here.
Horse racing continues to take place around the world. We have added new international markets to our tools to make sure we have all the odds you need to complete these offers. The regular offers we are used to having are still available, it’s just now we have to bet on international events instead of UK racing.
New offers types have been appearing here too as well as the regular offers we have been profiting from for years like refund if 2nd, 3rd or 4th. The racing matcher has all the races and offers you will need every day. With the races taking part in different countries you may need to adjust your matched betting schedule as the races take part in different time zones so remember to get your bets on at the correct time to make sure you qualify for the offers.
Reload offers are the ongoing offers bookmakers offer their customers to keep them betting. As matched bettors we can take advantage of these offers just like we did with the sign up offers to keep the profit flowing long after the sign ups are complete.
Whilst a lot of the regular offers are missing because of the lack of football and other sports there are new offers coming up every day as the bookmakers try to entice us to keep betting with them. New offers around casino, virtuals, e-sports and horse racing are popping up every day and there continues to be a large amount of value from reloads every single day. Check out the latest offer discussion on our community forum here.
We’re all looking forward to a time when normality resumes in the sports calendar.
During this crisis OddsMonkey continues to be dedicated to providing best-in-class service and will adapt our offering to make sure that our customers have access to the best tools, latest profit-making offers and the most comprehensive matched betting guides anywhere on the internet.
Our tools continue to be developed, offers continue to be sourced and our level of service continues to be provided to the utmost standard so we all have access to the means of making additional income in spite of these testing times. We will endeavour to keep pushing our platform forward and will continue to add new features as and when we see the opportunity to adapt to the latest developments as they unfold.