Matched Betting FAQs

What is matched betting?

Many bookmakers offer free bets as an incentive to get you to open an account. Typically they are in the format of as "Bet £10 to receive a free £10 bet". It's possible to use these free bets to make money with no risk using a technique called matched betting. Matched betting involves backing and laying an event in order to win regardless of the outcome.

Sounds good, how much money can I make from matched betting?

How long is a piece of string? As a general rule, the more you start out with the more money you will make. A typical amount of make in a year is around £1500 but there are cases of people earning over £10000 in a year. As well as depending on your inital investment, the money you can make also comes down to the amount of time you can spend on matched betting. It can be time consuming comparing odds between a bookmakers and a betting exchange, so the more time you spend doing this, the more you make.

Can anyone make money from matched betting?

Yes, as long as you're over 18 you can take advantage of the bookmakers offers. Most bookmakers require you to have a credit or debit card to open an account but some will let you do it using your ordinary bank details.

Ok, what's the catch? Surely there is a risk involved?

There really is no catch and the only real risk is human error. The key is to be patient and double check any bet you are placing, also read the Terms and Conditions of any bookmaker's offer very carefully to check what steps you must follow to be able to withdraw any winnings. For example, some bookmakers require you to risk the free bet money three times before withdrawing the money. Others require you to place the bet on events with higher odds, don't be in a rush to place the bet!

What is the difference between a stake returned and stake not returned free bet?

A stake returned bet is the same as placing a bet with your own money, as well as getting the winnings from the bet you also get the stake back. A stake not returned bet means that the stake money is not returned to you and all you get back is any winnings from that bet. Depending if the offer is SR or SNR will determine the type of bet you should place, this is covered in more detail on the guide page.

What does laying a bet mean?

Laying a bet is when you effectively become a bookmaker(no need to grow John McCririck style sideburns!), when you lay a bet what you're actually doing is accepting somebody elses bet on that event. The process is covered in more detail on the guide page.

What is the best sport to use when matched betting?

Football is most popular due to the amount of money being placed on matches but any sport where the bet can have one of two outcomes is best. By one of two outcomes this means either a team/individual wins an event or loses an event. If you back Team A at the bookies to win the game and lay them at the betting exchange to not win the game them one of these bets will always win. If Team A wins the game you get money back from the bookies and if Team A don't win the game, either by getting beat or drawing the match, then you will get money from the betting exchange.

Thanks to Chris for getting in touch he asked, can I lose money with matched betting?

It is possible to lose money matched betting, but this only happens if you make a mistake with the bet. The theory behind matched betting is absolutely risk free, so my advice to you is to double check any bets you place and make sure you back, and lay, the same result.

If you have any further questions not answered here then please get in touch