Matched Betting Blog

Visit our blog to find out what is going on in the world of matched betting. Learn about new free bets, new betting strategies, and much more!

Other Betting Exchanges

October 1, 2011

When I teach matched betting to people who have never done it before, I always suggest that they use Betfair betting exchange. Why? Because of all the betting exchanges Betfair is the largest. Since more bets are placed on any particular event, it is easier to get your bets matched, which of course is crucial for matched betting.

Another advantage of Betfair is its generous £25 losing-stake-refunded offer, which can provide a nice boost to your newly created account. Note that you can only access this offer by clicking on the banner below.

The best way to capitalize this offer is by using another betting exchange. If that’s too complicated, just place a bet on something that you believe should win. After all, you cannot lose anything that way. [click to continue…]

People are often very concerned about what to do once they run out of all free bets and can no longer do matched betting. One solution to this problem is doing matched betting again, this time using someone else’s identity. Arbitrage betting is another popular alternative. While finding arbitrage bets can be a little harder than simply collecting all free bets, it also has a higher long-term profit potential.

There are two main types of arbitrage betting. Let’s start with the traditional one.

Traditional Arbitrage Betting

The traditional way of doing arbitrage involves betting in at least two (and possibly more) bookmakers. The idea is that by finding differences in odds among different bookmakers it is possible to back every single outcome of the event so that the player makes a profit regardless of how the event ends.

Let’s consider an example. If there was a football match and by carefully finding the best odds among different bookmakers we could back both teams at 3.5, as well as back the draw at 4.3, we would end up with a guaranteed profit. By placing £10 on both teams and by placing another £8 on the draw, we would win £7 if any of the teams won. In case of a draw, we would make £6.4. [click to continue…]

As I skimmed through some matched betting forums earlier today, there was a post that caught my attention. I will quote it here, leaving the author anonymous.

I think/am pretty sure I just f**** up big time. Instead of placing safe bets in a way I would only have to roll over free bet winnings a sensible amount of times, I decided to place on high odds (15) and risk 300 odd quid, with only 50 odd left in my float, hoping to win on betfair so the wagering requirement wouldn’t matter. Bayern Munich only went and lost! So now I have to rollover £1750 before withdrawing anything from my youwin account, with only £50 in my float until thursday when I get £200.

There are several things that we can learn from the poster’s misfortune.

First, the poster made the mistake of believing that his selection would lose just because it had really high odds. Apparently he was aware of the rollover requirement, but thought it would not matter since his selection could never win. Of course, it does not happen very often, but even hopeless underdogs do win every once in a while. [click to continue…]

During the past year or so matched betting has attracted an unusual amount of media attention. Trust-worthy news sources, such as The Guardian and The Telegraph have covered matched betting, publicly confirming that it is indeed a legitimate (and highly profitable) way to make money.

The Guardian first covered matched betting in the June of last year. The article begins rather boldly:

With bookmakers offering ‘free bets’ to tempt new customers, you can play the system and pocket hundreds of pounds – with little risk to your own cash.

While this is obviously true, you can imagine what kind of attention such a claim attracted, especially considering today’s economy. The article then proceeds with a brief explanation of how matched betting works. [click to continue…]

Recently I have been asked if matched betting is still as profitable as it used to be a few years ago. After all, business opportunities that sound too good to be true usually don’t last long… The short answer to this question is ‘Yes, you can still make a lot of money from matched betting, but a few things have changed.’

Things have indeed changed since I first started matched betting a little over five years ago. From a little-know gambling loophole matched betting has turned into a rather popular way to make money. Matched betting has been featured on The Guardian, Daily Telegraph and other major publications. Now even Wikipedia has an article on matched betting.

Because of all this, matched betting has also attracted a lot of attention from bookmakers. Some have changed their promotional offers, while others have blocked free bets for certain countries altogether. However, bookmakers are still in competition with one another, and they still try to attract avid punters by offering generous free bets. [click to continue…]

There are a couple of things you should know about making deposits to your bookie accounts.

First, it’s always a good idea to deposit a little more than required to get the maximum bonus. For example, if the bonus is £25, deposit £30 and place your qualifying bet of £30. Bookies won’t think that you’ve come solely to get their bonus if you do so. They will also treat you better if any issues arise. Unfortunately very few matched bettors do that…

Second, always use Great Britain pounds as your account currency. The largest bonuses are almost always given to those who use GBP.

And finally, read bonus Terms and Conditions carefully. I know I’ve said this before, but the majority of matched betting problems arise because people don’t read the T&C’s.

Payment Methods

This is an important topic, so read carefully.

What are the main payment methods offered by bookies?  [click to continue…]

Finding a selection with similar odds in both Betfair and the bookie can take some time. In fact, it is probably the most time-consuming part of matched betting. It is like gambling – you can get lucky immediately or spend long time skimming through the odds. However, there are a few things you can do to make this step easier.

So your goal is to find bets which have similar odds in the bookie and in Betfair. It’s great if the bookie has higher odds than Betfair, but it happens very rarely. Use our matched betting calculator to see how much you lose because of discrepancies in the odds and decide if that’s OK with you.

Here is my advice on finding the best matched bets:

  • Look at soccer games first – you can often find great opportunities there.
  • There are good opportunities in tennis as well, however, problems may arise if a player gets injured; if possible, use soccer instead.
  • To find soccer bets more easily, go to Betfair, click ‘All Sports’, ‘Soccer’,  ’Coupons’ and select one of today’s coupons (either the in-play coupon or one of the time-specific coupons). You will now have the odds of plenty of soccer games in a single window. The same can be done with other sports. [click to continue…]

I assume that by now you know a lot about betting exchanges, so I won’t talk about the basics here. If you do not know what a betting exchange is, please read my basic article about betting exchanges first.

Why We Need Betting Exchanges

Betting exchanges are incredibly useful for matched betting. However, I have to once again emphasize that we actaully need a betting exchange for matched betting (isn’t that obvious already?). The thing is that adroit matched bettors sometimes come to a conclusion that another bookie can be used instead of a betting exchange.

Although that’s true, it’s definitely more convenient to use a betting exchange. Why? Using another bookie is quite easy if there are only two possible outcomes – you simply have to back both selections with appropriate stakes. But what if there are more than two outcomes of the event? Are you going to place eight back bets for all horses in a horse race? I don’t think so. So we are limited to events with two (or maximally three) outcomes. [click to continue…]

In this long blog post I am going to discuss some important technical details you should consider when you are doing matched betting. While this might not be the most exciting topic, it is very important that you know and understand these things. If you are new to this website and matched betting in general, please start with this matched betting guide.

Signing up with Bookmakers

The sign-up form is virtually the same in every online bookmaker, so it should not cause you any problems. More troublesome, however, is having to know your login details for every bookie account you have. I recommend keeping record of all your usernames, passwords, extracted bonuses, etc. in a separate spreadsheet file.

It’s especially useful since some bookies may choose a username or password for you (or use your email as a username) and each bookie has its own requirements for the length and complexity of the username and password. I also recommend not having the same password for all your bookie accounts and other online activities. It’s not going to be confusing if you have all your login details in a separate file. [click to continue…]

1. SR and SNR Free Bets

Let’s start this poorly structured article with a recap of the two main types of bookmaker free bets. You should already know this if you have read our matched betting guide.

Stake Not Returned (SNR) Free Bet – a free bet that does not include its stake in potential winnings. Subtract 1.00 from the odds to calculate how much money you will have after winning such bet. The majority of free bets don’t return their stake.

Stake Returned (SR) Free Bet or Cash Bonus – a free bet that includes its stake in potential winnings. SR free bets or cash bonuses usually have minimum wagering requirements before withdrawals can be made, so read terms and conditions carefully.

Distinguishing between Stake Returned/Cash Bonus and Stake Not Returned free bets is essential as they have to be extracted differently. To find out whether a free bet returns it’s stake, scrutinize it’s T&C’s. If they never say that the stake is excluded from winnings, that is a Stake Returned free bet.

Those who are new to matched betting should start with extracting SNR free bets.  [click to continue…]