2. How can I learn matched betting?
How can I learn matched betting?
– Understanding matched betting series part 2 of 4
What kind of person can do matched betting?
Anybody can learn and do matched betting, as long as your over the legal age to place bets, which is 18 in the UK.
You can be male, female, young or old. Like sports. Hate sports. It doesn’t matter.
People from all walks of life enjoy and earn money matched betting, including but in no way limited to students, stay at home mum’s, people looking for 2nd incomes, people who want to work from home, retired people, sports fans, office workers, company directors, literally everyone is at it and it’s time to get in on the act!
Is matched betting too complicated to learn?
Matched betting sounds very complicated.
But when you get down to the nuts and bolts of it, it is a very simple process to learn and understand.
If you can use a computer to a basic level, then you have the technical skills required to do matched betting.
All that is required from you if you are looking to start with matched betting, is a little patience, an open mind and a willingness to learn!
What learning materials are available to me?
When you join the matched betting service, you will find there is plenty of clear and concise learning materials to really ensure that you understand what you are doing before you begin placing any bets.
View this video below to learn more about matched betting.
But to begin with, you only need to know and learn the basic mechanics of matched betting.
The Basics of matched betting
We take advantage of the bookies free bets.
They usually give these out when we sign-up to a site, but also often have regular new offers which they advertise on their site and are open to current customers. These offers are all sourced from all the different bookies by the matched betting service which is a full-time job in itself, and posted all in one convenient section on their matched betting service website & forum.
The offer will usually be in the form of some condition. Such as, bet £50 on a premiership or champions league football match at odds of 1/2 or above (1.50 in decimal odds), and get a free £50 bet.
What we do first is to compare the odds on the football games that day, with the lay odds on a betting exchange like Betfair or Smarkets. We can do this manually, or we can use the free oddsmatcher software from the matched betting service which makes this much easier and quicker.
What is a betting exchange?
A betting exchange is a place where you can place normal bets on events like you can at any bookmaker, but you can also LAY off all the same events.
What is a Lay bet?
A normal bet is when you bet for something to happen in an event or game. I.e you may bet on Arsenal to beat Bayern Munich in the champions league and you will receive winnings if indeed that is what happens.
When you lay off an event, you are betting AGAINST that happening. So when you lay off Arsenal in the Arsenal and Bayern game, you are saying that the match won’t end in a win for Arsenal.
If the game finishes in a draw, or a Bayern win, you will win your lay bet. If it does end up in a Arsenal win, you will lose your lay bet.
Lay bets will be discussed more in the knowledge bank in more depth, but for now those are the basics.
OK, so how do I guarantee profit?
What we do is find a close match in terms of odds. We might find a game with a close match in odds as in the above example, the Arsenal and Bayern Munich game. We then use matched betting to back and lay on the same event, an Arsenal win.
We find that Arsenal are 2.40 in decimals to win against Bayern on Bet365 and are 2.42 to lay off on the exchange, which is pretty good odds match.
We then use the special free matched betting calculator on the matched betting service site, and input into it the amount we will bet at the bookmaker and the odds of the bet and the commission that the exchange charges.
The matched betting calculator then spits out exactly how much we need to lay on the exchange to guarantee profit, and tell’s us how much our initial loss will be in order to qualify for the free bet.
As you can see in the example below, our qualifying loss would then be £1.00.
Yep, that’s all we will lose is £1 and we will gain a £50 free bet!
Once the first match settles, we will usually be credited the £50 free bet by the bookmaker within 24 hrs, and sometimes the free bet is credited instantly as is done by Skybet.
Time to lock in profit.
The final step is that we now look for another game to bet on using the oddsmatcher or manually, and repeat the exact same steps as above depending what the bookmaker offer details.
We find a close match in odds, and then back and lay the same event on the bookmaker and on the exchange.
We use the matched betting calculator and select that it is a free bet we are doing. It tells us exactly how much we need to lay and what our profit will be for that bet.
See the example of a free bet below, in which we use our £50 free bet that has been credited to us. We find a close match on the draw in a game between Manchester United and Everton, with odds of 5.20 to back at the bookie and 5.40 to lay on the exchange.
Our final profit will be the amount we make from the free bet (£38.25), minus the qualifying loss (£1.00), which means our overall profit on this bet would be £37.27 if the free bet wins on the bookmaker, or £37.25 if the lay bet wins in the exchange.
Not bad, eh?
That is basically it. There is no special secret.
What help is available to me if I decide to start matched betting?
You are more than welcome to leave any comments or questions on this page below, or email me personally via our contact form here and I will be glad to help and support you if you sign up to the matched betting service free trial through our link.
I am a matched better, I don’t just advertise this, I do this myself. So if you get stuck on anything feel free to get in touch with me.
If you are unsure on any aspect. Or have a particular question, you can also make a post on their forums and have it answered usually within minutes by the staff or other forum members who are always willing to lend their help. They also have official support tickets you can submit and even a telephone line you can ring if you get stuck on anything.
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