Make money from Matched Betting (full guide)

bag of moneyNow, I’m not a gambler by any means. But I have made enough money from bookmakers in just six months to pay for an £860 flight (return) to Australia. And I’ve got some company too after walking a good friend through this risk-free technique.

The result is this guide, where I’ll share the exact steps with you too, including screenshots and a free tool.

Why should I trust this guide?

What I’m teaching you here is a completely legal, tried-and-tested method called ‘matched betting’. It basically allows you to turn the tables on the bookmakers to extract their free bet offers.

Matched betting is legal and a spokesperson for William Hill has indicated that the betting industry does not have a problem with this use of free bets – Wikipedia

student thinking
I’ve used it myself for several years and have never lost any money doing it, but I have taken my time and been very careful to avoid making mistakes. Do not rush this guide – make sure you understand it 100% before depositing any money, and please ask any questions in the comments if unsure of anything.

I’ll be taking you through the ‘need-to-knows’ then showing you how I made £15 in 30 minutes in a full-blown example.

There are websites out there that charge you handsomely for this information, but you don’t need to pay here. Put half an hour aside, read this guide carefully, and you’ll have made your first matched bet and up to £20 profit.

Article in the Guardian on matched betting

Piece by The Guardian (24/7/2010) on making money from free bets

I make no apologies for the length of this guide! You’ll need some patience and about 30 minutes to spare. Bookmark it if you want to come back later.

What is Matched Betting?

Matched betting is a way of squeezing out the many free bets offered by bookmakers. All the bookies promote these offers (especially during big sporting events) to entice new gamblers to place bets with them.

For example, “bet £25 with us and we’ll give you a £25 free bet!”.

Matched Betting Header

How does it work?

Firstly, you don’t need to know all the betting terminology if you follow the steps below, but it’s important that you know two types of bet which allow matched betting to work:

A ‘back’ bet

Betting for a certain outcome to come true. Eg. “I bet England will win” is a backing bet. If it comes true, you win the bet and the winnings. If England lose or draw, you lose your stake. You can place a back bet at any bookmaker, such as Paddy Power, William Hill, Ladbrokes etc.

A ‘lay’ bet

Betting against a certain outcome to come true. Eg. “I bet England will not win” is a lay bet. If they lose or draw, you win the bet. You can only place a lay bet at a betting exchange such as Betfair.com.

Matched betting works by cancelling out the risk on the ‘back’ bet at the online bookies by betting against yourself at the same odds (know as ‘laying’ a bet) which you can do at a betting exchange. In other words, you are ‘matching’ your bet.

smiley_faceFollowing your first or ‘qualifying’ bet, you will then be awarded the free bet by the bookmaker. This is where the profit is made. Quite simply, you repeat the process: bet using the free bet and then lay the bet. Whatever the result you are guaranteed to make a profit (which I’ll be demonstrating below).

How much profit can I make?

For each matched bet, you will be left with up to 95% of the free bet amount as profit. This is because betting exchanges usually charge a commission of 5% on winnings. You may also make a very small loss on the qualifying bet due to the minor difference in odds on each website. This is normal, and you will recoup this when you use the free bet.

poundsign_shakyIn the steps below I’ll show you how to profit from a £20 free bet using a real life example. Replicate the same steps across the hundreds of free bet offers each year and you can quickly be looking at £1,000s. Personally I have made just over £1,200 in 18 months from matched betting alone.

And it’s worth pointing out, earnings from the gambling industry are currently tax-free.

What’s the risk?

question_markAnyone can learn how to do matched betting and, in theory, there is no risk involved because you are covering yourself by betting for and against the same event.

However the risk comes when mistakes are made so, once again, you need to double-check everything and follow the steps exactly. On rare occasions free bets do not always come through right away, so just be patient.

Once you’ve understood the process and been successful by following the steps below, you can then continue matched betting at many other online bookies with free bet offers which can quite quickly land you a lot of money without risk.

It’s also worth pointing out that depositing at gambling websites does not affect your credit rating.

Your First Profit in 14 steps

Note: This is literally a step-by-step, hold-your-hand kind of guide. There’s lots of fragmented information out there on forums etc, which can often result in costly mistakes for novices. Below I outline exactly the steps I follow, using the practical example of one PaddyPower free bet. So long as you follow word for word, you can’t go wrong. I strongly suggest reading through all the steps first before making any bets.

  1. Sign up for Betfair.com

    Betfair logo whiteBetfair is a betting exchange where you can ‘lay’ bets to cancel out your risk at the bookmakers.

    Unlike traditional bookmakers, Betfair is a place where you bet against other people.

    They sometimes even offer free bets for new customers too (if you’re lucky).

    Register on Betfair.com

  2. Sign up for PaddyPower.com

    Paddy Power bet 10 get 20The best offer by far right now is with PaddyPower.com who are offering £20 free bets on new sign ups when you bet just £10 (don’t worry we’ll be matching this too). So we’ll be using this ‘bookie’ in this practical example.

    Always check the T&Cs of receiving free bet offers. There may be some restrictions on what you can bet on or an expiry date.

    They will also tell you whether or not the free bet is returned with winnings. In this example and generally speaking, it is not but we’ll still be making a nice profit.

    During registration, you will be prompted to make a deposit. Choose one of the many payment types and deposit just £10 (needed to unlock the free bet).

    Register on PaddyPower.com

  3. Use decimal odds

    Once you’ve logged into PaddyPower.com, change your odds display from fractions to decimal for easy comparison with Betfair.com and to use in the spreadsheet below. You can do this from the selection in the sidebar across the site. This is essential!

    Choose Decimal Odds

    Found bottom of left sidebar

  4. Download our free spreadsheet

    This does all the maths to give you the exact amounts you need to bet or lay to guarantee a profit.

    I’ll be showing you how to use it, but feel free to play around with it, and hover over any of the cells in the spreadsheet for tips if you’re unsure.

    Download the matched betting spreadsheet (.xls)

    Apple users: If you only have Numbers, then you need to download this spreadsheet version, otherwise you’ll get an error!

  5. Find a bet

    Ideally you want to find a sporting bet (I recommend football) which has the closest odds on both PaddyPower.com (the bet to back) and Betfair.com (the lay bet).

    Stick to popular markets, such as Win-Draw-Win or Half-time Result, and choose an event that’s going to happen within the next 48 hours to save you waiting around later. But be careful about picking an event which is starting within 4 hours because odds will be fluctuating more making things a bit trickier.

    For this free bet offer, PaddyPower’s terms state you must pick odds of 1.5 or greater. It’s better to choose a bet with low odds, between 1.5 and 2.0 if possible.

    So look on PaddyPower first then find the equivalent lay bet on Betfair.com (the red box, not the blue!). If you cannot see any red boxes, you need to go to the exchange by clicking the top left link “Go to Exchange” or “Exchange“.

    Betfair Exchange

    In the example below, I have picked a football match between Everton and West Brom. I will back Everton at PaddyPower.com with odds of 1.61 and lay that same bet on Betfair.com with odds of 1.6.

    Choosing the odds

  6. Enter the odds in the spreadsheet

    Go back to the spreadsheet and enter the ‘Back odds’ (from PaddyPower.com) and the ‘Lay odds’ (from Betfair.com). They must be as decimals, not fractions!

    Leave the ‘Stake’ as £10, as this is the amount for your qualifying bet, and the ‘Lay Commission’ as 5%, as this is what Betfair will deduct from any winnings. Don’t change anything else.

    Row 19 shows you an estimate of how much you will lose on the qualifying bet (sometimes you can make a small profit, but a loss here is expected). As we mentioned in the previous step, the closer the odds are on both sites, the lower this will be (aim below 25p).

    In my example bet, the difference is 0.1 which according to the spreadsheet’s estimate will give me a small loss of 13p on this qualifying bet.

    Odds in Excel
    Note: Check that the ‘Lay Stake’ amount is less than the amount of money available for the selected lay odds in Betfair. Otherwise your bet won’t be placed. You may need to click on ‘View full market’ to see this.

    lay money size
    If your ‘Lay Stake’ is more, then you’ll need to click on the next odds (to the right) and update the ‘Lay Odds’ in the spreadsheet.

  7. Make your deposits

    If you haven’t already, you first need to deposit £10 at PaddyPower.com (I made mine during registration).

    Then you need to deposit at least the “Lay Risk” amount as shown in the spreadsheet (row 18) into your Betfair account (minimum is £10, but you don’t have to bet all of it). This is the amount needed to cover the ‘Lay’ bet we’ll be making.

  8. Place your qualifying bet

    Now it’s time to match your first (or qualifying) bet which is needed to unlock the free £20 bet. Be careful with this step, and take your time. Make sure you have both websites open with the same event so you can place both bets at the same time.

    First check that the odds haven’t changed at PaddyPower.com and that they match what’s in your spreadsheet (if they have you need to adjust the ‘Back Odds’).

    Then go ahead and place a £10 bet backing the outcome of your chosen event (eg. Everton to win as in my example) at PaddyPower.com. Simply click on the decimal odds to bring up the betting slip.

    Matching the bet

    Without any delay, head over to the Betfair.com page you have open, click on the lay odds (a red button) and enter the ‘Lay Stake’ (row 17) amount from the spreadsheet into the box.

    You should see that the ‘Lay risk’ is the same as in the spreadsheet (row 18). It may be a penny or two out but don’t worry as it’s an estimate. Once you confirm, you have matched the bet you made on PaddyPower.

    Here are my betting slips on both websites for my qualifying bet:

    Matched Bet Betslips

    Now just sit back and wait for the outcome of the event to be decided!

  9. Claim your free bet

    In the Everton v. West Brom game, Everton won 2-1. So my return of £16.16 ended up on my PaddyPower account. Meanwhile I lost the £6.23 (my Lay Risk) on my Betfair account. The total amount between the accounts is therefore £9.93, which is a loss of 7p (marginally less than the 13p estimate in my spreadsheet, due to some tiny differences we don’t have to worry about).

    Now I have placed and seen through the £10 qualifying bet, I now have a £20 free bet!

    This gives me a total credit of £36.16 in PaddyPower, but I’m only going to use the £20 free bet and will withdraw the rest later. My Betfair account is down to £3.77 (my initial deposit of £10 – £6.23) and will need topping up (see below).

    So whatever your outcome, because you matched the bets, you will have close to your £10 back between the 2 sites (minus the small loss we expected).

    The free bet of £20 will be credited to your PaddyPower account (if not after 24 hours, contact customer services 08000 565 275).

  10. Find a new bet

    We’re basically going to repeat the process, but using the £20 free bet instead of the £10.

    Find another bet on both websites following the same advice as in Step 5. However this time it’s worth picking odds greater than 4.0 to maximise your profit, but just bear in mind that the higher they are the more you’ll need to have in your Betfair account to lay it (see the ‘Lay Risk’ box in the spreadsheet). If you don’t have the funds available, just reduce the odds back down to 2.0 or so.

    I tend to play around with different events/bets in the spreadsheet anyway to get an idea for the numbers (specifically ‘Back Profit’ and ‘Lay Risk’).

    In my example, I’ve picked out another football match, this time between Algeria and Ivory Coast. The odds are above 4.0 and have only a 0.1 difference between the sites. You’ll see below that I am backing Algeria to win on PaddyPower (5.0 odds) and then I’m laying that bet (for Algeria not to win) at Betfair (4.9 odds).

    Choosing the odds again

  11. Back to the spreadsheet

    Head back to the spreadsheet and click the ‘Continue to Bet 2: Free Bet’ button. First we need to change the ‘Stake’ amount to £20 (row 11), and also put £20 as ‘Stake Not Returned’ (row 12) since this is in the terms of the PaddyPower free bet.

    Enter the new ‘Back odds’ (on PaddyPower.com) and the ‘Lay odds’ (on Betfair.com) for this second bet.

    ‘Your Profit’ (row 20) shows you the profit you can expect to make from this bet, regardless of the outcome! In this instance, you’re unlikely to get the full £20 free bet as profit since the free bet is not returned.

    Again using my example to illustrate, the spreadsheet has calculated that I’ll make a clear profit of £15.67, whatever happens. Nice :)

    Free bet spreadsheet

  12. Add funds to your Betfair account

    You’ll probably need to make another deposit to Betfair so that your account has at least the “Lay Risk” amount as shown in the spreadsheet (row 19). Don’t worry we’ll be getting it back.

    In my case, I had £3.77 remaining from the first bet, so I deposited £61 to more than cover the Lay Risk (total £64.77).

    lay risk on spreadsheet

  13. Place the free bet

    Ok, so we’re ready to match our second bet to cash out with our profit we’ve now calculated. Again, have both websites open with the same event to place both bets at the same time. This reduces the risk of odds changing and messing up your figures (if they do change update your spreadsheet).

    Check the odds at PaddyPower.com still match what’s in your spreadsheet (if they have you need to adjust the ‘Back Odds’).

    Now place your £20 bet, backing the outcome of your chosen event. Make sure you select your free bet!

    Matching the bet

    Quickly head over to the Betfair.com page you have open, click on the lay odds (a red button) and enter the ‘Lay Stake’ (row 18) amount from the spreadsheet into the box.

    Confirm the bet and you’ve now matched the bet on PaddyPower.

    Here are my bet slips on both websites for my free bet:

    betting slips using free bet

  14. Cash out the profit

    Whatever the outcome, you will now be in profit to the amount calculated in the spreadsheet (‘Your profit’). Now it’s time to cash out!

    In my example of the Algeria v. Ivory Coast game, the score ended in a draw at 2-2. This means that I lost my £20 free bet on PaddyPower (because I backed Algeria to win) and the winnings of the matched bet totaling £16.49 ended up in Betfair. Once you deduct Betfair’s 5% commission on winnings I’m left with £15.67 profit, which you’ll notice matches the profit calculated in my spreadsheet.

    My matched betting profit

    I now have £16.16 in my PaddyPower account and £80.44 in Betfair. PaddyPower will only let you withdraw a minimum of £10, even though I didn’t have to, so you may need to top it up first. I then withdrew the full Betfair balance back onto my debit card.

    My total profit from both matched bets, accounting for all factors such as the 7p loss on my £10 qualifying bet, totals £15.60. I spent just under 30 minutes on the whole process, giving me an hourly rate of £31.20 if I move onto the next of many free bets out there (best listed below). Beats stacking shelves…

Please share with your friends!

If you enjoyed and profited from this guide, sharing it is the best thanks you could give. And I’m sure they’ll appreciate it too :)

More Free Bets

chart risingIf you are confident enough with the process of matched betting and eager to make much more profit, then work through the free bet offers in the table below.

The same steps above still apply unless stated, just change the values of the free bet amount. As always, check the terms of each offer! All of the free bets below are ‘stake not returned’ (SNR).

Subscribe for new free bets

As you can imagine, free bet offers come and go. Most weeks I scout around for any news ones, and if I think they’re worthwhile I’ll add them to the table below.

But subscribe to my free bet offers list and I’ll share the best ones with you before anyone else, as well as the odd extra tip.

 

Current free bet total: £558

BookieDeposit amountFree betMin. oddsPromo codeClaim offer
William Hill£25£251.20F25Claim Now »
WinnerSports£25£251.50Use linkClaim Now »
Ladbrokes£50£501.50Use linkClaim Now »
Tote sport£5£102.00Use linkClaim Now »
888sport£10*£882.00Use linkClaim Now »
Sky Bet£30£302.00Use linkClaim Now »
188Bet£50£501.50SPORTS50Claim Now »
Betway£50£501.75Use linkClaim Now »
Coral£5£201.20NA, but must use this private link.Claim Now »
BetVictor£25£252.00Use linkClaim Now »
NetBet£200£1001.60WELCOME100Claim Now »
BetAtHome£30£151.70FIRSTClaim Now »
Betfred£25£252.00Use linkClaim Now »
Betfred£100£1001.50Use linkClaim Now »
Betfair Sportsbook (not exchange)£50£501.20Use link (different to exchange)Claim Now »
18Bet.com€400€2001.80WELCOME200Claim Now »

Note: Although the greatest care is taken and these free bets are researched regularly it’s important that you check the full terms and conditions of each free bet offer after clicking through to the bookmaker’s site.

Need help? Got a question?

Please use the comments below and I’ll get back to you.

Disclaimer: Please note that neither the author nor this website accept any liability for how you use the advice given on this page. So read it carefully, and if you decide to follow the steps then you use it at your own risk! Gamble Aware.

Leave a comment



205 Responses to “Make money from Matched Betting (full guide)”

  1. Joe

    07. Mar, 2013

    Hi Owen.

    Your guide is great. I’m just starting and your info is very helpful. I’m having trouble on betfred however, as the website seems to look different now to how it does in the picture you’ve used on point 5. Find a Bet.
    It doesn’t appear to give the option to make a lay bet.
    Would you be able to help me out here. Thanks

    Reply to this comment
    • Jake Butler

      08. Mar, 2013

      Hi Joe,

      Thanks for your question.

      Did you sign up for Betfred of Betfair? Unfortunately, you cannot lay bets on Betfred but only on Betfair.

      To lay an outcome on Betfair you simply choose the red box next to the result that you will be laying.

      Hope this helps :)

      Jake.

      Reply to this comment
    • Joe

      10. Mar, 2013

      Hey, i also had this problem. on the very top left of the betfair website there is a button saying ‘Go to exchange’. you need to click this as you’re probably currently on the sportsbook part of betfair.

      Reply to this comment
      • Jake Butler

        10. Mar, 2013

        Hi Joe,

        You are correct. Sometimes it is already on the exchange as standard but you do need to make sure that you are on the exchange.

        Thanks for the advice!

        Jake.

        Reply to this comment
  2. David

    11. Mar, 2013

    Hi Owen,

    Thanks for sharing. I am using Microsoft Excel Viewer with the spreadsheet. . Is that suitable software to use? I haven’t been able to change the info in any of the fields in the spreadsheet.

    Reply to this comment
    • Jake Butler

      12. Mar, 2013

      Hi David,

      We would recommend using the full version of Excel to edit the spreadsheet.

      The cells are locked on the spreadsheet apart from those in white anyway so these should be the only ones that you can change although it may not work on the viewer.

      Hope this helps.

      Jake.

      Reply to this comment
  3. David

    12. Mar, 2013

    Hi Jake,

    Thank you.

    I’m not sure if there is a free, full version of Excel, though there is a trial version. With Google I found a free alternative to Excel. It’s called LibreOffice.

    I can now edit the info in the cells.

    Thanks again to you and Owen.

    David.

    Reply to this comment
    • Jake Butler

      12. Mar, 2013

      Hi David,

      That’s excellent. Thank you so much for letting us know as now we can advise people in future that don’t have Excel.

      I hope you enjoy the profit and can be confident enough to use the other free bets available at the bottom of this article once you are confident with the spreadsheet.

      If you have any other questions just let us know.

      Jake.

      Reply to this comment
  4. Alex

    20. Mar, 2013

    Hi Jake,

    I have placed my initial bet of £10 with PaddyPower and then the subsequent bet of £10.06 with BetFair, following the instructions given and using the excel sheet. On BetFair, my lay bet is showing as partially matched (£6.41) and partially unmatched (£3.65). I have the option to ‘cancel all unmatched’. What should I do in this instance?

    Thanks,

    Alex

    Reply to this comment
    • Owen Burek

      25. Mar, 2013

      Hi Alex

      Yes this has happened to me before, and it’s basically because there is not enough money in the pot at the odds you have chosen to lay your bet at on Betfair. This is rare but in future it’s worth checking the small number (in £) below the lay odds and making sure it’s more than your lay bet (over £100 would be fine).

      Anyway, in this case, I would keep the partially matched bet and just match the remainder (£3.65 in your case) at the next odds available. You don’t want to cancel all unmatched as you need to match the total amount to come out with a profit. Going for the slightly higher odds (usually +0.01) will have minimal impact on your total profit.

      Hope this makes sense!

      Reply to this comment
  5. Oscar

    31. Mar, 2013

    I placed a £5 bet on Paddy Power for Wigan and then matched it on betfair. The odds were over 1.5 and it was £5 but I haven’t been given a free bet?

    Reply to this comment
    • Owen Burek

      02. Apr, 2013

      Hi Oscar

      Have you had an account with Paddy Power before? I would give them a call (freephone) on 08000 565 275 to find out, they’re usually very helpful and will credit it right away if you have completed the qualifying bet.

      Reply to this comment
      • Oscar

        02. Apr, 2013

        I did thank you! The problem was that I deposited £5 through a Skrill account, which I opened because my PayPal wasn’t working, and this means you are not entitled to a free bet. So be careful of this!

        Reply to this comment
  6. Kate

    19. Apr, 2013

    Hi, I’m new to betting and I am trying to understand what the lay risk on Betfair is for? I guess I would have to pay this amount of money if something went wrong..and I’m wondering what’s exactly the risk? Could you explain it like to a dummy please? All info much appreciated, thanks!

    Reply to this comment
    • Owen Burek

      22. Apr, 2013

      Hey Kate, yes I was too and it is a bit confusing at the start (hence the length of this guide!).

      So, the ‘lay risk’ is associated with a lay bet (betting AGAINST the outcome) and, as you rightly say, is the money you would lose on Betfair if the result *did* happen. You will need to have this amount in your Betfair account before placing the lay bet (the figure is calculated for you in the spreadsheet).

      In other words, this money is basically the same as the money that you would win if you backed the bet (for it to happen). Since in a lay bet you become the bookmaker, you are technically paying out for someone else backing the bet.

      Now the important point is though, when it comes to matched betting, you will win on the other side, that is the bookmaker eg. Paddy Power in our example. And vice-versa. Once you get to your free bet, overall you will be in profit. So the risk is eliminated!

      Hope that makes sense? If not just let me know :)

      Reply to this comment
  7. Chris

    25. Apr, 2013

    Hi…Great advice here! I assume if we get the free bet from just depositing money into the account then we just skip straight to the second bet and dont need to bother with the first?

    Reply to this comment
    • Owen Burek

      26. Apr, 2013

      Hey Chris. In almost all cases you need to actually place a qualifying bet using your initial deposit to be rewarded with the free bet. So I’m afraid you can’t skip any of the steps! Bookmaker’s aren’t that kind :)

      Let us know how you get on.

      Reply to this comment
  8. Chris

    26. Apr, 2013

    Thanks Owen that makes more sense lol when the free bet has gone on one website is it possible to set up a new account with a different email address?

    Reply to this comment
    • Owen Burek

      06. Jun, 2013

      Sorry must’ve missed this! It’s a bit of a grey area, and to start with it’s best just to move onto the next bookie/free bet offer because it is usually against the Ts & Cs. Nowadays you actually have to have a different name, address and payment details too for a lot of them. In that case you can still profit by telling you friends you’ll share the winnings with them by using their details, which is what I’ve done before.

      Reply to this comment
  9. Owen Burek

    03. Jun, 2013

    Quick update – Coral (another bookmaker) are now also offering the same free bet offer as Paddy Power (£20 for £5 deposit). Not sure how long this will be on for, but try this link and take advantage of this if you can http://www.savethestudent.org/out/coral

    Reply to this comment
    • Miles

      05. Jun, 2013

      Helpful guide Owen, shall definitely give it a go myself later today!

      Just a quick heads up: Coral currently seem to be offering a free bet of up to FIFTY pounds (although minimum deposit seems to be unmentioned at present). Any tips on how to maximise the profits from this at all?!

      Thanks in advance.

      Reply to this comment
      • Owen Burek

        06. Jun, 2013

        Thanks Miles. Yes I just saw there is also a £50 free bet but you’ll need to deposit and place a qualifying bet of the same amount first. If you have the funds available you can opt for this offer, but since this guide is for newbies I thought it’d be better to mention the offer requiring just £5 for £20 free bet (and same as Paddy Power) to help get the hang of it etc.

        Cheers

        Reply to this comment
  10. Sebastian

    06. Jun, 2013

    Hi,

    Row 18 hasn’t matched the liability figure on betfair. It’s 2.64 on Germany U21s and betfair says my liability is £8.20. Whereas the spreadsheet is saying ‘estimated lay risk’ – £7.92.

    Quite a bit out…why is this?

    FYI, I’ve already placed the bets :/

    Reply to this comment
    • Owen Burek

      07. Jun, 2013

      I assume you’re on the first qualifying bet with PaddyPower and that back odds are 2.5? Back odds of 2.59 would give you lay risk of £8.20. Make sure you check that’s what you actually got on PaddyPower when the bet was placed, and also that the lay odds you placed on Betfair match up with the spreadsheet since sometimes they can change last minute if you’re placing a bet on an event happening within a few hours.

      Having said this, the lay risk is an estimate but it’s usually pretty spot on. It’s just maths. But if something has gone wrong somewhere then you won’t lose out by more than a few pence and can clear up on your free bet.

      Let me know if your second bet matches up ok or you figure out why they didn’t match on the first.

      Reply to this comment
  11. Joe

    12. Jun, 2013

    Hi, I’ve done this matched betting on 3 of the betting sites without a problem, but I may have just run into some trouble but i’m not sure. I’ve signed up to betvictor and just placed my qualifying bet with them and betfair (backing and laying Kenya this afternoon @ odds of 7 for each, works out at a loss of £1.08) However when I placed the bet on betfair it says its only partially matched. It’s split my bet into a matched bet with a backers stake of £5.12 and liability of £30.72, and an unmatched bet with a stake of £20.06 and a liability of £120.36. Is this going to end badly?

    Reply to this comment
    • Owen Burek

      12. Jun, 2013

      Hi Joe

      You’ll get a partially matched/unmatched bet on Betfair if there’s only a portion of money in the pot at the odds you selected. Essentially you can’t lay a bet unless someone else has already bet a sufficient amount for you to match against.

      In your case you’ve cleaned up the last £5.12 which was available from the ‘backing’ pot at the odds you had picked to lay at.

      So the remaining £20.06 you’re looking to match against is in the queue until more money is placed to back the event at the odds you selected.

      If it’s not too late, I would suggest cancelling your matched bet and starting again making sure enough money is available at the different odds. You could wait until there’s more backing money and you’re remaining amount will be automatically matched, but there’s no guarantees here.

      If you can’t cancel or don’t want to wait, I’d probably go ahead and just accept the different odds but it’s really important that you do bet the full amount at Betfair so it cancels the risk with the bet at the bookmaker.

      Sorry if this is long winded but hope it helps. Let us know how you get on, or have any other tips for when this happens.

      Cheers

      Reply to this comment
      • Joe

        12. Jun, 2013

        Hi Owen,

        Thanks for the reply. Had a little look on google after posting and got a rough idea of what had happened. Decided to leave it for a little while to see what happened and luckily for me the whole bet has now been matched, so all’s good!

        Reply to this comment
  12. Adam Hammond

    16. Jun, 2013

    I am actually loving this guide, I’ve tried to share it as much as possible.

    It’s not often that I really benefit from articles online but well done!

    Reply to this comment
  13. Stephen

    21. Jun, 2013

    Great guide, this has been brilliant in helping me understand how to do this.

    Just a quick question. As I have both a student and a regular bank account (with debit cards for both) is there anything stopping me from opening up two accounts with each of the bookies (using both of my cards) and being able to take advantage of the free bets twice?

    Reply to this comment
    • Owen Burek

      24. Jun, 2013

      In theory, no. But increasingly the bookmakers are doing more checks than simply bank accounts, including name and home address. I wouldn’t think there’s any harm in trying but I would advise checking the registration terms and conditions for the specific bookies first to make sure. You could always offer to do the matched betting on behalf of friends and family.

      Reply to this comment
  14. Peter Isle

    22. Jun, 2013

    Hello Owen,

    Thank you very much for this guide,

    Yesterday I signed up to Paddy Power, deposited £10 and everything had been going to plan. I.E I matched the bet on Betfair and unlocked the free bet which I used. However, today, when I tried to login to Paddy Power, I received a message saying that my account has been temporarily suspended because they need ID proving my information was genuine when I signed up. Is this normal? And also, what’s the easiest, and more importantly, the safest way of providing them with the information that they need to reactivate my account?

    Thanks in advance

    Reply to this comment
    • Owen Burek

      24. Jun, 2013

      Hi Peter

      This is not that common, but has happened to me on another site in the past. All I had to do was take a photo of my ID and email it to customer services along with my account details, and was approved within a few hours. But PP should have explained exactly what you need to do in this case. Don’t worry though, it is a standard practice within the industry.

      Reply to this comment
      • Peter

        26. Jun, 2013

        Hi Owen

        Thank you for your reply- just waiting on their response now.

        On another note, I was wondering while depositing the money if there’s any negative implications for your credit rating with matched betting. Obviously as its no risk more money should be coming in than out, and they should see that, but surely the bank aren’t going to like seeing you depositing money into multiple bookmakers nonetheless?

        Thanks

        Reply to this comment
        • Owen Burek

          27. Jun, 2013

          Valid point Peter but nothing has ever shown up on my credit report, and after a quick Google it seems that whilst bookmakers may sometimes carry out a credit check on you, it isn’t recorded and has no effect on your overall score.

          If you want to check your credit score at any point, I recommend using ‘Credit Report Matters’ which give you free access to it so long as you cancel the trial once received. Shortlink: http://s4ve.me/14usToe

          Cheers

          Reply to this comment
  15. Joe

    23. Jun, 2013

    Hi Owen,

    Just got an email through from betfred about a wimbledon promotion:
    If Andy Murray wins the Men’s Singles tournament we will refund all losing single bets on the outright as a free bet up to a maximum of £200.
    Ts&Cs:
    Offer applies to Betfred.com and Betfred Mobile.
    Andy Murray must win the Men’s Singles Tournament in order to qualify.
    Offer applies only to bets placed up until Monday 24th June at 1pm.
    Offer is fulfilled in free bets.
    Maximum free bet refund £200 per customer
    Applies to Single bets Only.
    Extra winnings will be credited to your account within 24 hours of your qualifying bet being settled.
    Bets placed using free bet funds do not count.
    Cannot be used in conjunction with any other offer.
    General Betfred.com rules apply, see website for details.

    Is it possible to matched bet this free bet promo? If so can you tell me how!?

    Reply to this comment
  16. Haz

    09. Jul, 2013

    Once u have used a deal, for example the one on paddy power, which is only available to new customers, are u then able to leave and return using the same debit account because I would assume not. So wouldnt that then mean that you can only use each betting site once?

    Reply to this comment
    • Owen Burek

      09. Jul, 2013

      Hi Haz

      In most cases the bookmakers only offer one free bet offer per new registration/individual. This is why I have listed more free bet offers in the table below the guide. There are plenty out there for the average person to milk.

      If you want to continue matched betting once you’ve cleaned up introductory offers, then you still have two opportunities in the longer term.

      A. Talk to friends and family and offer to carry out the matched betting on their behalf for a slice of the profits (obviously requires trust and good explanation!)

      B. Wait for new offers, which are sometimes offered to existing customers to get them back or to promote a big sporting event (eg World Cup, Wimbledon etc). If you stay on their mailing list, you’ll come across these, or subscribe to my newsletter http://savethestudent.us1.list-manage.com/subscribe/post?u=1d812cee806cb330dea75689e&id=857ada218f

      Reply to this comment
      • hazz

        10. Jul, 2013

        thank you for the reply, one more question, in order to maximise return, do you have any tips?

        Reply to this comment
        • Owen Burek

          10. Jul, 2013

          Keep a basic spreadsheet of all the bets you place, along with your cumulative profit. It’s important to make sure you’re keeping track so you know you’re making money and it’s also good motivation ;)

          Reply to this comment
          • hazz

            10. Jul, 2013

            thanks again, sorry, but another question, from your experience, what is the best odds that i should bet on?

  17. Nikola

    22. Jul, 2013

    Thanks for sharing, this article is great as your response to all these questions. I have one “little” question too.
    If I bet 5$ on back (paddypower) with odds 1.61 and bet 5.19$ (lay stake) on lay (betfair) with odds 1.60 I get :

    - if backed bet wins, 5$ x 1.61 = 8.05$ – 5$(invested backers bet) – 3.12$ (lay risk) i get a profit of -0,07$

    - if layed bet wins, 5.19$ x 1.60 = 8.304$ – 5$ (backers bet) – 3.12$ (lay risk) I get a profit of +0.184$

    Am I right ?

    Reply to this comment
    • Owen Burek

      23. Jul, 2013

      Hi Nikloa

      Yes that sounds about right for your qualifying bet, however you need to remember that Betfair will deduct a 5% commission fee from your winnings if the lay bet wins, making the two outcomes more similar.

      Reply to this comment
  18. YM

    28. Jul, 2013

    Great article. It seems to indicate that you must always lose on your qualifying bet. Why?

    Reply to this comment
    • Jake Butler

      30. Jul, 2013

      Hi Yusuf,

      You will always lose a little bit of money of your qualifying bet but this is down to bookies taking a small commission as well as the fact that the odds don’t match up exactly for the backing and laying of the bet.

      I hope this clears things up.

      Jake.

      Reply to this comment
  19. Harrison

    31. Jul, 2013

    I’m unsure on how to lay bet on betfair? can anyone help me?

    Reply to this comment
    • Owen Burek

      01. Aug, 2013

      Sure Harrison.

      Firstly, can you see the red odds boxes, as in Step 5 of the guide?

      If you can’t then you may need to check a box or change a display setting to show them.

      Otherwise, simply click on the red box (which are for lay bets) and a Betslip will show up on the right. You need to enter the Backer’s Stake as shown in your spreadsheet calculations.

      Once you’ve checked it all over and it matches up to the spreadsheet, simply click Place bets and that’s the lay bet done!

      Any other problems, let me know.

      Reply to this comment
  20. marco

    01. Aug, 2013

    I recently signed up to the Coral £50 matched bet offer but i’m worried about going ahead with my qualifying bet as i’ve entered the details into the calculator and it shows i’m due to make a loss of £4.11

    My stake is £50
    back bet is 2
    lay bet is 2.12
    commission is left at 5

    Should I go ahead with this or will I end up out of pocket?

    Reply to this comment
    • Jake Butler

      02. Aug, 2013

      Hi Marco,

      You will generally lose a little money on your qualifying bet as the bookies take a small commission as well as the fact that you will never find back and lay odds that are the same.

      As you are betting with higher amounts (£50) instead of the Paddy Power example (£5) you will lose more of your profit on each bet but make more overall.

      Remember that the qualifying bet is used to give you access to the free bet and this is where you make your profit.

      So, to summarise, even though you are using a free bet of £50 you are more likely to walk away with an overall profit closer to £35-£40 depending on a number of factors. You will “technically” be out of pocket after the qualifying bet but the follow up free bet will be where you make your profit.

      I hope that clears it up for you.

      Thanks,

      Jake.

      Reply to this comment
  21. Ash

    26. Aug, 2013

    Hey! Very nice article!
    I have a small question-
    I am an Indian student living in India, is it possible for me to do this online betting from India and get the profit money transferred to my Indian bank account. My bank does have branches in UK.

    PS- According to my limited knowledge betting is illegal in India, so can I still do it online?

    Thanx in advance.

    Ash

    Reply to this comment
    • Owen Burek

      26. Aug, 2013

      Hey Ash, it’s a very good question. Legally (if gambling is illegal in India) I’m afraid you can’t do matched betting, and the bookmakers won’t even allow access from Indian ISPs. The same applies to the USA.

      Reply to this comment
  22. dave thomas

    01. Sep, 2013

    hi, have i messed up? just opened an account and the only bet/lay prices close enough to each other were foriegn. i placed the bet, then went to betfair and its unmatched. i remember reading on here i should still go ahead so i did. whats the worst case scenario? im dreading losing at bookies, and the lay bet being cancelled so i dont break even. could this happen?
    i think in future itll teach me to lay the bet first, so if its unmatched i can cancel before betting to win, and change matches.
    thanks

    Reply to this comment
    • Owen Burek

      02. Sep, 2013

      If it’s unmatched on Betfair, it means that you’ve ‘offered’ the lay bet but there isn’t enough money being backed to cover you at the odds you chose. It depends how long you have until the match/event starts, as it could still be matched. But to protect yourself I would usually recommend cancelling the bet and placing it again at odds that are matched right away. You’ll just need to readjust your figures in the spreadsheet with the new odds.

      Reply to this comment
  23. dave thomas

    02. Sep, 2013

    its matched now, so no worries thanks. can you cancel a bet once its put on?? didnt think that was possible.

    also clicked on the betfred £50 free bet link on this site and it looks as if its one of those where you have to keep rolling the bets on a few times before you can withdraw. i assume i want to stay away from those?

    and thirdly, is there a decent forum anywhere with a fair bit of traffic for latest offers, things to stay away from etc? current info? looked on the automatcher one, but not a lot on there.

    thanks a lot

    Reply to this comment
    • dave thomas

      03. Sep, 2013

      sorry, my mistake, it was the 188 bet that you have to keep playing with. the betfred one is something like a free £10 bet then a £50 bonus, but im too scared to do it cos i dont understand the small print and implications.
      so…back to my original question. is there a decent forum that discusses all these offers?

      thanks

      Reply to this comment
      • Jake Butler

        04. Sep, 2013

        Hi Dave,

        The 188Bet one does have to be rolled over but we’ve added an explanation on how to do it separately from our guide.

        The Betfred free bet seems to have changed slightly recently so we’ll look to get that updated. As far as I can see, you get a £10 free bet just for signing up and then another £50 free bet if you bet £50 (qualifying bet).

        I do not personally know of any forums that have some good info on this. Watch this space though as we may start one up ourselves ;)

        Thanks, Jake.

        Reply to this comment
  24. Adam Don

    04. Sep, 2013

    Hi, I could do with a little confirmation please. With Bet365 they give you an instant £200 deposit bonus if you deposit £200. By using a calculator I should be able to make a profit of around £175 from this. This would be fine if I won the bet on the Betfair website, I would just withdraw the money. If however, I won on Bet365 then I have to wager a total of £1200 before withdrawing it. So I should only have to wager another £800? So could I then wager my winnings from my last bet (£520) and then add another £280 of my own money on to bet where my loss would be minimal. Would I then be able to withdraw my money and have made an overall profit?

    Thanks, Adam.

    Reply to this comment
    • Owen Burek

      06. Sep, 2013

      These rollover bets get a little complex sometimes, but essentially you’re right. It’s better if your winnings come through on Betfair as you can withdraw those right away, but if not you just have to keep turning over the matched bets before you can withdraw the free bet amount. You should be able to use any winnings from any of the rollover bets to fund the next one, but you’ll need to add more funds overall. Have a good read over their T&Cs and if in doubt drop them an email to make sure.

      Reply to this comment
  25. dave thomas

    04. Sep, 2013

    thanks mate
    my problem is just not knowing whether to go for some of these bets or not. i understand the basic free bet jobbies, but im sceptical about the rollovers, ‘money back if’ bets, and anything that strays from that basic bet.
    spose its wise to be cautious, but i judt wouldnt mind finding out whether these other bets are worth doing, and if so how to do them.
    thanks

    Reply to this comment
    • Jake Butler

      05. Sep, 2013

      Hi Dave,

      They are definitely worth doing as the rollover bets are usually the ones with the highest reward.

      However, they can go wrong and you do need a lot of money in order to do it.

      I’m looking into writing guides for each of the rollover bets too… so watch this space.

      Jake.

      Reply to this comment
  26. dave thomas

    05. Sep, 2013

    thanks jake.
    really? highest reward? what am i missing? id have thought that you would get a small loss with each bet, hence a smaller ‘win’ at the end…….
    and yep, itd be great to read a guide :-)

    Reply to this comment
    • Jake Butler

      05. Sep, 2013

      Hi Dave,

      You do make a little loss each bet but when you consider that most of the rollover bets are a free bet of up to £200.

      I managed to make around £150 from that free bet…

      Hopefully extra guides will be coming soon.

      Reply to this comment
  27. Sandro

    09. Sep, 2013

    Hi i’m from México, but i can’t registre on paddypower ir coral, there isn’t ab option for México

    Reply to this comment
    • Jake Butler

      13. Sep, 2013

      Hi Sandro,

      Unfortunately this guide is only for betting in the UK.

      If you are desperate to carry out this matched betting then I suggest looking into OverplayVPN which can give you a UK IP address.

      Jake.

      Reply to this comment
  28. michael

    23. Sep, 2013

    Hi guys,

    sorry but i can’t seem to find the controls on betfair to see the “back” and “lay” options..it’s all just 1-x-2.. i assumed that 1 means that i am backing and 2 means that i am laying? i dnt think this is right though?

    Reply to this comment
    • Owen Burek

      24. Sep, 2013

      Ahoy Michael,

      Are you definitely in the Exchange? See step 5 in the guide. If you are and still can’t see the red lay boxes, click the cog top right of the screen which allows you to toggle display options including lay bets.

      The 1-X-2 does not relate to backing/laying, it essentially means: HOME TEAM WINS – DRAW – AWAY TEAM WINS. Ie. who you’re betting on.

      Reply to this comment if you need anymore help.

      Reply to this comment
      • Michael

        25. Sep, 2013

        Hi Owen yeah I’m sorry I wasn’t looking properly and didn’t click on the exchange link in the top left hand corner. As it turns out I backed another team so I didn’t cover for a draw! It’s ok though I got lucky and one team won giving me a small profit at the bookie (£12) I now placed the free bet but I have a further question..
        I understand how you make a profit at the bookie if the team u back wins.. but I don’t understand how the lay bet works if it wins? Do I get the ‘stake’ amount as profit if the lay bet wins? As I thought the stake was money I already had in my bet fair account :p ?? Thank you for your help!

        Reply to this comment
        • Owen Burek

          25. Sep, 2013

          Glad to hear luck was on your side, but it’s really important to make sure you fully understand the process as outlined in the guide to avoid mistakes and losing money. That’s why it’s good to ask questions and I’m happy to answer them ;)

          If the lay bet wins (at Betfair) you win the LAY STAKE amount (minus commission), which is basically what someone else placed to back that outcome, whilst you bet against it so you win their money.

          The money that you risk at Betfair, and will have to place for the lay bet is the LAY RISK amount.

          Hope that helps.

          Reply to this comment
  29. Michael

    25. Sep, 2013

    I also wandered if it is best to leave the money in the accounts and if so which ones and why? Thank you

    Reply to this comment
    • Owen Burek

      26. Sep, 2013

      If you’re going to be matched betting for a while, it can be good to have some money in Betfair, but not essential as you can always deposit more. Otherwise always withdraw from the bookies as soon as you can!

      Reply to this comment
  30. Michael

    26. Sep, 2013

    Thank you Owen that’s a great help I’m learning more about it now and hopefully will have some profit by next week! What I would like to know is if there is a list of initial free bet bookies that don’t have the more complicated terms such as rolling bets etc. I will do these but for now I would just like to keep it simple. I have found freebetsforall.com useful but there are quite a few listed their that have some rules on the free bets such as it has to lose or you get an average free bet for the average stake of your first five bets etc? Have u found that some bookies don’t let you withdraw the profit made from free bets? Thank you for answering all these questions!

    Reply to this comment
  31. Paul

    27. Sep, 2013

    This matched betting sounds like the way to guaranteed profits.

    Reply to this comment
  32. michael

    30. Sep, 2013

    hey guys

    just wandered how you get around withdrawing your funds from betfair? as they dnt let you transfer funds into your bank account that exceed the amount you deposited with your card

    regards

    mike

    Reply to this comment
    • Owen Burek

      01. Oct, 2013

      You should be able to! Otherwise noone would be able to take their winnings out. Just checked their FAQs and says you can’t withdraw money to a card if it’s less than the deposit made, not more. Best asking them if you can’t.

      Reply to this comment
  33. Michael

    01. Oct, 2013

    Yeah it went through the second time! I’ve noticed that sometimes it breaks up your lay bet into different amounts with different stakes, it’s happened before but recently it came up with this unmatched option with a ‘in play’ component. Have u seen this before and do u know whether u should keep the bet? Thanks Owen

    Reply to this comment
  34. michael

    05. Oct, 2013

    guys how do you obtain your free bets on sites that need you to loose your first bet to get the matched deposit bonus?

    cheers

    Reply to this comment
    • Jake Butler

      08. Oct, 2013

      Hi Michael,

      I am not sure that I 100% follow you on this.

      Which site are you talking about in particular? As far as I’m aware there are no sites that require you to lose your first bet in order to get the matched deposit bonus.

      Thanks,

      Jake.

      Reply to this comment
  35. mike

    08. Oct, 2013

    hi jake sportsbetting will match a 50 bet if it looses..i backed it snyway and my bet did loose so got the free bet.

    Reply to this comment
    • Jake Butler

      09. Oct, 2013

      Nice one. Maybe I’ll look into this extra free bet. However, it’s a bit of a risk of you end up winning. We tried to keep it to guaranteed wins as we don’t like to think of it as gambling in any way.

      Reply to this comment
  36. Jun

    14. Oct, 2013

    Does it matter if the Free Bet is returnable or not?

    Reply to this comment
    • Jake Butler

      15. Oct, 2013

      The free bet stake is generally not returned. You’d be lucky to find one where it is.

      However, this is not a problem.

      Reply to this comment
  37. James

    15. Oct, 2013

    Also on betfair, what if no other punter takes the lay bet? it basically stops and returns your bet and you could be down?

    Reply to this comment
    • Jake Butler

      16. Oct, 2013

      Hi James,

      This is an issue with the matched betting but it rarely causes and issue. You just need to make sure that there is enough money in the backing pool (underneath the odds) when you select “full market.”

      I really don’t understand why they make it so difficult…

      Hope that helps.

      Jake.

      Reply to this comment
      • James

        16. Oct, 2013

        Where is the full market option?

        Reply to this comment
        • Jake Butler

          16. Oct, 2013

          Hi James, it should be under the odds boxes as a link.

          Reply to this comment
          • James

            17. Oct, 2013

            Cheers mate, can i add my own money on top of the free bet to win more with the profit margins? (as long as i lay more back)

          • Jake Butler

            17. Oct, 2013

            Hi James, unfortunately you cannot do this either. You can only make money when using the free bet amount.

  38. roger

    18. Oct, 2013

    Hi just checked the T&Cs of the 118bet offer and it is not as described on the link, you have to wager your £50 five times before the bonus is paid

    Reply to this comment
    • Jake Butler

      21. Oct, 2013

      Hi Roger,

      The T&Cs to this bet appear to have changed since we posted the offer. Thank for giving us a heads up! We’ve now changed it to reflect the new T&Cs.

      Thanks again,

      Jake.

      Reply to this comment
  39. Bob

    20. Oct, 2013

    Hi Jake,

    Brilliant article/tutorial. Followed the steps all the way and I’ve made a profit. So does that mean I can skip the ‘qualifying bet’ part, rather than sign up everywhere else and just focus on paddypower/betfair & use my own money for every step of the way. (e.g. Put my own £20 or more to back on PaddyPower, then of course lay the bet on Betfair to make a profit) – by using ‘page 2′ spreadsheet you’ve provided above.

    If so, that would mean I’d have to change the ‘SNR’ from the pre-set £20 to £0?

    Reply to this comment
    • Jake Butler

      21. Oct, 2013

      Hi Bob,

      Thanks for the comments on the article. It took Owen a long time to write and I was happy to help.

      Unfortunately you can only use free bets to make money from this method. To put it simply… you can’t use PaddyPower to make profit again unless they offer you another free bet.

      If you were to use your own money and match the bet (using step 2) then you’d lose money every time due to Betfair taking a commission and the fact that the odds do not match up 100%. I wish it was possible but unfortunately it isn’t.

      The best way to maximise your porfit is to take advantage of all the free bets in the table at the bottom of this page.

      Hope that helps.

      Jake.

      Reply to this comment
  40. James

    23. Oct, 2013

    With ladbrokes, the free £10 snr bet I only seem to be making around £4? How can I make it bigger?!

    Reply to this comment
    • Jake Butler

      23. Oct, 2013

      Hi James,

      As the Ladbrokes free bet is split up into 3 x £10 bets the return is unfortunately a little less as you do lose a little each time you use the free bet. However, there are a couple of ways to increase the profits:

      - Look for bets that are 3/1 or above
      - Use bets that have the closest matching odds (the smaller the difference the higher the return)

      It’s not always easy to find these bets but putting a little extra time into finding them can be worth it for the increased return.

      Jake.

      Reply to this comment
  41. roger

    29. Oct, 2013

    hi has anyone used the cash out feature of betfair. i was watching one of my bets and it was saying if i cashed out i could make a profit (i assume on the bet as placed) but i cant seem to get my head around if it does or not in the free bet scenario- can any one out there explain if it does or not

    Reply to this comment
    • Jake Butler

      30. Oct, 2013

      Hi Roger,

      This is a superb question!

      It’s not an easy one to answer or explain but I’ve given it some thought.

      Basically, I would only use the cash out feature if the “cash out profit” is higher than the potential return shown in the table. Here’s the scenarios with cashing out early:

      1. You cash out at a lower rate than the odds you betted with: In this case the event outcome is unlikely to change and therefore you won’t win anything on the other betting site, leaving you worse off. The event outcome may change since cashing out on Betfair and in that case you would end up potentially winning on both sites. However, this is betting and adds the risk back to it (which defeats the point of matched betting).

      2. You cash out at higher odds than the original bet: You would end up getting a higher return but as far as I’m aware you probably won’t ever get cashout odds better than the original odds.

      So you can make a profit when cashing out but the point is that that profit is likely to be less than if you wait for the outcome of the match.

      I hope that makes sense.

      Jake.

      Reply to this comment
  42. Paul

    06. Nov, 2013

    Hi Jake,
    Just started using this guide and loving it! I have received a free £5 from Betfair if I place a £10 bet. Just wondering the best way to make this work for me with regards the system you have shown as the guide is placing the free bet with the other sites. Thanks

    Reply to this comment
  43. Hatch

    06. Nov, 2013

    Hi there

    Can you only use each sites free bet once if you get me? Or are these promotions which come up to anyone anytime

    Thanks

    Reply to this comment
    • Jake Butler

      06. Nov, 2013

      Hi,

      Unfortunately you can only use each free bet once per customer… obviously you could help out friends and family ;)

      The only other way to get more free bets is to leave your accounts idle and wait for a promotional email offering you another free bet (does happen time to time).

      Also, look out for offers such as “download our app for a £20 free bet” etc.

      Hope that helps.

      Reply to this comment
  44. Graeme

    09. Nov, 2013

    Hi Jake, thanks for making this guide.

    I am right in thinking you always use betfair to lay the odds on every bet?

    You just go from different bookie to different bookie for the stake bet to get the free bet?

    Does that make sense?

    Thanks

    Reply to this comment
    • Jake Butler

      10. Nov, 2013

      Hi Graeme,

      You are correct.

      You must use Betfair to lay the best each time as they are one of the only sites that allow you to do this.

      Then you simply use each other betting sites free bets (eg. Paddy Power, Betfred, 188Bet etc etc).

      Hope that helps.

      Jake.

      Reply to this comment
  45. LS

    17. Nov, 2013

    Hi
    The skybet free £5 bets every week are only awarded if you place a £5 accumulator.
    I am wondering how do I lay this? Or is it not possible?
    Thanks

    Reply to this comment
    • Jake Butler

      17. Nov, 2013

      Hi Lucy,

      Thanks for bringing this to our attention. It appears as if the terms have recently changed so we have made sure that it’s removed from the table.

      Jake.

      Reply to this comment
  46. Angelo

    17. Dec, 2013

    Hi,

    Just curious whether this method works for accumulators? If you create an accumulator of under/over 2.5goals and put money down against the exact accumulator on bet fair could you potentially be creating very very large odds? Therefore, meaning more return? Im not sure whether i’ve confused myself with this.

    Hope this question makes sense!

    Thanks for your time

    Reply to this comment
    • Jake Butler

      18. Dec, 2013

      Hi Angelo, great question.

      It is possible to use this method on accumulators but it’s extremely complicated and all in all not worth it.

      I would suggest sticking to the tried and tested technique.

      As soon as you try accas, you’ll have to spend ages trying to find matching odds.

      Don’t forget that you will never get a return larger than the value of the free bet. The only thing you’re doing by choosing larger odds is decreasing your losses (but only by a few pence).

      Hope that helps mate.

      Reply to this comment
      • Angelo

        19. Dec, 2013

        Hi Jake,

        Thanks for the info! Much appreciated!

        Reply to this comment
        • Jake Butler

          19. Dec, 2013

          No worries, good luck with the matched betting.

          I just added a few more sites to the table at the bottom of the page too so even more profit ;)

          Reply to this comment
  47. Cameron

    20. Dec, 2013

    Hi Jake, I’m struggling to find the lay option for betfair, using the QPR v Leicester game as an example could you help me find it.

    Reply to this comment
    • Jake Butler

      22. Dec, 2013

      Hi Cameron,

      Sorry, I realise I’m a bit late on this one.

      Did you follow all the instructions above on how to find the lay bet?

      “find the [...] lay bet on Betfair.com (the red box, not the blue!). If you cannot see any red boxes, you need to go to the exchange by clicking the top left link “Go to Exchange” or “Exchange“.”

      After you are in the exchange you simply go into the “full market” for the game you are betting on and then lay the result that you bet for on the bookie site (ie. Paddy Power).

      I hope that makes sense.

      Jake.

      Reply to this comment
  48. Chris c

    29. Dec, 2013

    Hi all ,

    Thank you for all the great information .

    I have followed the guide and have bets on Everton v Southampton today at paddy and bet fair.
    £10 on Everton This releases £20 free bet from pp which is on Newcastle v arsenal and layer at bet fair.

    I have a free ap on my I phone which is the same as your calculator but I can’t find an I pad compatible spreadsheet to record bets made and keep track of profits . As I think was mentioned yours has been locked ?

    The above makes something like £13 but would be good to have a log before placing more bets without seeing the numbers stacking in my favour

    Thank you

    Reply to this comment
  49. ellis

    02. Jan, 2014

    I am getting myself a bit confused.. how did you manage to make over £1000 doing this when there are only 13 betting websites that you have displayed with a profit of around £15 on each surely thats £180? Where am i going wrong with this?

    Reply to this comment
    • Jake Butler

      04. Jan, 2014

      Hi Ellis,

      There are over 40 websites with free bets (some with £250 to be made) but we are yet to list them as they are a little complicated.

      Over time we will be adding these to the list as this is where the extra profit can be made.

      For now I would suggest researching the online betting companies in the UK (that you haven’t used already) checking if they have a free bet, reading the T&Cs and then using them.

      Best of luck!

      Jake.

      Reply to this comment
  50. lee

    09. Jan, 2014

    Theres is currently a better deal for titan on there website, it is now £35 instead of £25.

    Reply to this comment
    • Jake Butler

      10. Jan, 2014

      Hi Lee,

      I cannot find the £35 bet. Could you send me the link so I can look to add it.

      It’s also worth noting that they are currently offering a £100 free bet but I have yet to get the full T&Cs from them yet so have held off from posting it.

      Thanks.

      Reply to this comment
  51. Chris

    09. Jan, 2014

    Hi, Jake, are there any other exchange sites you can recommend?

    Reply to this comment
    • Jake Butler

      10. Jan, 2014

      Hi Chris,

      There are a lot of sites not mentioned here simply because their free bet T&Cs are so complicated. If you’re willing to put in the time and effort to read all their T&Cs then I have a list of a few more sites offering free bets below:

      - NetBet
      - 888 Sport
      - Betway
      - BWin
      - BetButler
      - Bet365

      Good luck!

      Reply to this comment
  52. Pearse

    13. Jan, 2014

    Hi there,

    I’m just trying to get my head around the whole process. I’m fairly sure I understand why it works with free bets, but I’m trying to work out why the same process doesn’t work without the free bets. I’ve tried using the spreadsheet so that the SNR is £0 and it still says that a profit is made. Will this be the case? Why/Why not?

    Thanks :)

    Reply to this comment
    • Jake Butler

      13. Jan, 2014

      Hi Pearse,

      I can guarantee that this doesn’t work without the free bets.

      I’ve copied something I wrote in another comment that explains why:

      “If you were to use your own money and match the bet (using step 2) then you’d lose money every time due to betting sites taking a commission and the fact that the odds do not match up 100%. I wish it was possible but unfortunately it isn’t.

      Remember that you will have to put the money up yourself in place of the free bet…

      The best way to maximise your porfit is to take advantage of all the free bets in the table at the bottom of this page.”

      Hope that helps.
      Jake.

      Reply to this comment
      • Pearse

        13. Jan, 2014

        Thanks Jake,

        Is it possible then to increase your winnings by adding money along with the free bet? So if you had a £10 free bet for example to add another ten to that and just alter the spreadsheet accordingly?
        Thanks

        Reply to this comment
        • Jake Butler

          14. Jan, 2014

          Hi Pearse,

          Unfortunately that doesn’t work either.

          Think about it this way… when you use your own money on the qualifying bet (in order to free up the free bet) you actually lose a little bit.

          You can only use the free bet amounts to make a profit from I’m afraid.

          Reply to this comment
  53. Dominic

    19. Jan, 2014

    Hi,

    Are all the websites listed tested and legitimate?

    Thanks

    Reply to this comment
    • Jake Butler

      19. Jan, 2014

      Hi Dominic, all of the sites are tested and legitimate. As Owen has mentioned, he went through the whole process himself.

      Reply to this comment
  54. lee

    19. Jan, 2014

    Boyle are saying that they will only give me a free bet if my bet loses?

    Reply to this comment
    • Jake Butler

      19. Jan, 2014

      Hi Lee,

      It seems as if Boyle have changed their T&Cs since we posted this.

      However, if you win the bet, there is still another way to get a free bet.

      - you will need to place 5 (£25) bets at odds of 2.0 or above. These all need to be done with the first part of the table. You’ll then be given a free £25 bet to use.

      With all of this in mind I have removed them from the table for now.

      Thanks.

      Reply to this comment
  55. Jason

    20. Jan, 2014

    Came across this in the T&C’s for Winner.com and have seen it elsewhere:

    “If there is evidence the terms have been breached and that customers are using free bets or other promotional offers to guarantee profits regardless of the outcome we reserve the right to void free bets or any bets funded by bonuses.”

    Anyone worried about this?

    As long as were using a different company’s site to place the lay bet then there should be no way of them knowing that were matched betting, unless they’re communicating with each other (doubtful).

    I don’t know of any other way to make guaranteed profits.

    Just a thought.

    Reply to this comment
    • Jake Butler

      20. Jan, 2014

      Hi Jason,

      It should all be ok. As you said, they have no real way of proving anything. As well as this, matched betting is pretty much accepted in the betting industry (as shown by the quote from William Hill in this guide).

      There are a couple of other ways to make guaranteed profits but I’d say that these T&Cs are just to cover them for most eventualities.

      Good luck.

      Reply to this comment
      • Jason

        22. Jan, 2014

        Cool beans.

        Just reached my first £100! Thanks for your response and for the guide itself!

        Reply to this comment
  56. lee

    22. Jan, 2014

    yeah i thought about doing the 5 bets at £25 but when i spoke to them they said that one of them would still have to lose for me to get a free bet so i decided just to leave it. i think i only lost 1 or 2 pound on it though so no problems.

    I have just seen that paddy power have an offer on which isnt on your list it is bet £10 and get £20 free.

    Reply to this comment
    • Jake Butler

      22. Jan, 2014

      Yes, we do list the Paddy Power offer in the guide. It’s not in the table because we use it for the tutorial guide!

      Reply to this comment
  57. Brian

    25. Jan, 2014

    Hi,

    Thanks for these great tips. I have used them to great effect. I was wondering if you have an explanation for the larger rollover bets? I see that some people have tried them ,but I still don’t understand.

    Thank you,

    Brian

    Reply to this comment
    • Jake Butler

      27. Jan, 2014

      Hi Brian,

      They all differ so you need to read the T&Cs.

      What they generally do is make you bet the free bet amount multiple times in order to unlock the free bet or to withdraw your winnings.

      All it means is using the qualifying bet or free bet part of the spreadsheet multiple times.

      We are currently working on writing mini guides for some of these large rollover bets.

      Jake.

      Reply to this comment
  58. James

    26. Jan, 2014

    Hi Jake, first of all great post.

    What i am wondering is why in the speadsheet there is no box for commission taken by the bookies on the back bet. I see that there’s a box for commision on the lay bet but why none on the back bet?

    Cheers/

    Reply to this comment
    • Jake Butler

      27. Jan, 2014

      Hi James,

      Cheers for the comment about the post.

      The reason that there’s no commission on the back bet is because it’s only Betfair that take commission.

      Hope that helps.

      Jake.

      Reply to this comment
      • James

        28. Jan, 2014

        Thanks Jake,

        I have figured it all out now. Thanks for taking the time to help people out. Means a lot!

        James

        Reply to this comment
  59. Christine

    29. Jan, 2014

    Hi Jake,

    Do you recommend registering with Betfair through Topcashback as they are offering £15.75 cashback if you open a new account with a deposit of £10 and make a bet of £10.
    Betfair then say they are offering a free £50 bet but you have to place a minimum sportsbook bet of £5 at odds of at least 1.2. This has to be done within 30 days
    It says exchange bets are excluded from this promotion.
    What is the difference between sportsbook bets and exchange bets?
    I see in the guide that you say you need to click on Exchange or Go to exchange at Betfair.
    Also for the cashback the bet with Betfair needs to be £10, in your example using Paddypower the bet with Betfair only comes to £6.23.How much would your qualifying bet need to be for the lay bet with Betfair to be £10 and therefore qualify for the cashback?
    Hope these questions make sense.

    Many thanks
    Christine

    Reply to this comment
    • Jake Butler

      29. Jan, 2014

      Hi Christine,

      You have some awesome questions here. I’ll try my best to answer them all for you.

      You can claim cashback if you want to. We just don’t mention it as a lot of players will already have accounts set up and it would add to the confusion of the guide…

      Exchange bets are the ones where you bet against other people (as opposed to the company). Unfortunately, this is the only way that you can “lay” bets. However, you can use the Betfair Sportsbook as a free bet… Just imagine the Sportsbook and the Exchange as two seperate sites, if that makes sense?

      You are right about the cashback requirements. This is another reason why we don’t mention it (they always change too). I would suggest playing around with the spreadsheet to see how much you’d need to bet on Paddy Power for the Betfair bet to be over £10.

      I hope it all works out!

      Jake.

      Reply to this comment
  60. Tom McCusker

    05. Feb, 2014

    hi, would it be possible to turn this into an app for android.
    would be useful to have without needing an office suite.

    Thanks

    Reply to this comment
    • Jake Butler

      09. Feb, 2014

      Hi Tom,

      We have been looking into options for expanding the guide and adding new features like this.

      The only thing is that it’s quite tricky to do without an office suite.

      Reply to this comment
  61. Christine

    10. Feb, 2014

    Hi Jake,

    Many thanks for your reply to my questions of 29/1/14 and your excellent guide.

    I have got my head around this now and have just made £54.17 profit with my 1st 2 free bets (£50 from Betfair and £25 from Winner).
    As the £50 free bet was with Betfair I layed it with Betdaq who only charge 3℅ commission.

    I’m looking forward to working my way through the free bets.

    Do you have any idea when you will you will finish the mini guide on the rollover bets ? Some seem quite complicated and a mini guide on them would be really helpful particularly if it’s as good as your main guide.

    Many thanks
    Christine
    I am also waiting to see if I get the £15.75 cash back for Betfair.

    Reply to this comment
    • Jake Butler

      10. Feb, 2014

      Hi Christine,

      Excellent work! Sounds like you have got to grips with the system and it’s working for you. That’s what we made it for.

      We have a few mini guides on some of the rollover bets. You just have to click the “claim now” on the table to get to them.

      I would recommend working your way through all of the offers in the table first. The 888Sport one is a little tricky and a great way to learn about the rollovers.

      When you have completed all of the offers in the table, feel free to message me again and I can point you onto some more :)

      Enjoy.

      Reply to this comment
  62. Matt

    18. Feb, 2014

    Hi Jake,

    Firstly, let me say thank you for a very well written and helpful guide! I have started to work my way through the offers and bar the delays with the security information, it’s going well.

    However I did have a quick question in regards to the ‘refunding losing bet offers’. For example if I use BetDaq”s mobile offer where they refund your first (up to) £25 mobile bet if it loses.

    Am I correct in thinking that this does not need to be matched in the first instance, only if it loses, as the qualifying bet is the loss of the £25?

    Thanks in advance!

    Matt

    Reply to this comment
    • Jake Butler

      20. Feb, 2014

      Hi Matt,

      Thanks for the feedback! Sorry about the late reply.

      You are right! The qualifying bet is typically used to unlock the free bet but if you are offered it straight away you won’t need to qualify.

      Hope that helps.

      Reply to this comment
      • Matt

        22. Feb, 2014

        Hi Jake

        I thought I had it but I can’t seem to make my numbers work out. Could you provide me with an example please? Using Sportingbet’s free £50 returned bet if your’s loses.

        Is this usable with the spreadsheet, how exactly would I have to bet to make sure all outcomes are profitable?

        https://www.sportingbet.com/offers/main/offers_sports.aspx?useraction=register&w=1

        Thank you in advance.

        Matt

        Reply to this comment
        • Jake Butler

          24. Feb, 2014

          Hi Matt,

          It is a tricky one. I have tried to simplify it as much as possible below…

          You must use the first part of the spreadsheet and either of the outcomes below will happen:

          1) If you back a win on SportsBet you will make a profit of £X and lose the liability (Y) on Betfair. The difference between £X & £Y will be your profit.

          2) If you lose on SportsBet you will make profit on Betfair and then be given a £50 free bet on SportsBet.

          If outcome 1 occurs you can withdraw your winnings. However, if outcome 2 happens you will then need to use your £50 free bet refunded on the second half of the spreadsheet in order to make a profit.

          I hope that clears things up a little.

          Reply to this comment
  63. Owen

    19. Feb, 2014

    Hi,

    Would I be right in saying that this technique is only used for free bets and that I wouldnt be able to use my winnings in another bet with the same company with this technique?

    Thanks

    Reply to this comment
    • Jake Butler

      20. Feb, 2014

      Hi Owen, that’s correct. The only way you can use this method twice with the same company is to leave your account and hope that they offer you a free bet in future to entice you back.

      Reply to this comment
  64. Owen

    20. Feb, 2014

    Thanks for the reply. Another quick question, am i right in saying that the lay risk you have to deposit into e.g betfair will not be lost in any way?

    Reply to this comment
    • Jake Butler

      20. Feb, 2014

      Hi Owen,

      You can potentially lose the lay risk but if you do it would mean that your bet on the bookie site (eg. Paddy Power) would have won. These winnings will cover the lay risk loss.

      I would suggest reading the guide again if you feel there is anything you are unsure about.

      Reply to this comment
  65. Hamish

    24. Feb, 2014

    Hi

    I’ve downloaded your spreadsheet tool however nothing happens when I click the ‘Continue to Bet 2′ button… So I cannot progress! I think it might be because I’m using a spreadsheet program called OpenOfficeCalc. and it may not allow this button function. If this is the case, could you explain the maths to me so I can just to the calculations myself?

    Thanks.

    Reply to this comment
    • Jake Butler

      25. Feb, 2014

      Hi Hamish, I would love to help you with the formulas but the 1st and 2nd part of the spreadsheet differ quite a lot and I cannot explain the calculations simply.

      Is there a tab at the bottom of the OpenOfficeCalc.? You could try clicking through to the second page via the tabs rather than the button.

      Let me know if that solves the issue.

      Thanks.

      Reply to this comment
  66. Christine

    26. Feb, 2014

    Hi Jake,

    Further to my comment of 10/02, I’ve made £321 now since I started on the 9/02.

    Thanks a million for your guide and getting me into this.

    I’ve still got many free bets to go, I got a £250 free bet bundle with PaddyPower which is excellent.

    Happy days !!! :-)

    Christine

    Reply to this comment
    • Jake Butler

      26. Feb, 2014

      Hi Christine,

      Amazing! It’s comments like this that make what we do all worth it.

      I’m so glad you stuck with it rather than dismissing it as some do. It is almost too good to be true so thanks for trusting us.

      Nice work on the Paddy Power free bets and I hope you can make more and more profits.

      Jake.

      Reply to this comment
  67. Tom

    28. Feb, 2014

    Hi Jake,

    I’ve made over £300 (Thankyou!) up to now and I started to go onto the ‘advanced matched betting’.

    I have a quick question regarding the net bet £100 offer.

    I deposited £200 to unlock the £100 bonus and bet the £200 which was settled in Netbet leaving me with £466 (£100 of this the bonus). I then bet the £300 using the second page of the spreadheet and this was setlled in betfair (Leaving me with £166 in Netbet) I deposited £150 into netbet to cover the next £300 bet and this again was setlled in Betfair.

    I now have £16 in my Netbet account and a chunky amount in Betfair. By the looks of it, the bonus (apart from £16) is technically in betfair, is this correct?

    Thanks,
    Tom

    Reply to this comment
    • Jake Butler

      02. Mar, 2014

      Hi Tom, I answered the question in reply to your Facebook comment instead.

      I’d withdraw the money at this stage if I was you.

      Reply to this comment
  68. Angel

    01. Mar, 2014

    Hi Jake,

    For the Bet365 offer of a £200 free bet when you deposit £200, would I be correct in assuming that if I back a bet with high odds, lets say 5.0 – 6.0 and lay that on Betfair, that then if the team I’ve backed lost I would be able to cash out the profit (£160 for odds of 5.0) on Betfair without having to go through the turnover on Bet365?

    Angel

    Reply to this comment
    • Jake Butler

      02. Mar, 2014

      Hi Angel, that’s correct.

      Fingers crossed for the right result.

      Reply to this comment
  69. Rich

    06. Mar, 2014

    Hi Jake

    Apologies if this is a dumb question or if it has been answered already. I have scanned the posts.

    Winner sports betting are currently offering a free bet up to £200. I have read the terms.

    (see free bet terms on Winner site).

    How will they know if we are matching on an exchange? is it something to be worried about?

    also if i deposit and bet £200 as my qualifying bet and it loses on the winner site, i assume i will still get the free bet? If the same happens with the bonus,am i right in thinking my initial deposit and bonus is now in the exchange account?
    How does that fit with the requirement to bet through the initial deposit and free bet 6 times within 30 days?
    Will it have any effect on anything?
    i realise that the deposit and free bet would have lost and therefore i can’t bet through 6 times? Is there something i am missing?
    Thanks for all your advice
    Rich

    Reply to this comment
    • Rich

      17. Mar, 2014

      Mine just gets ignored then.

      Reply to this comment
      • Jake Butler

        18. Mar, 2014

        Hi Rich,

        I did reply but not sure what happened. Please see the reply I’ve left now.

        Sorry about that mate.

        Jake.

        Reply to this comment
    • Jake Butler

      18. Mar, 2014

      Hi Rich,

      Here is a reply that I thought I had already left….

      Basically it’s up to you whether you want to take the risk on this. They shouldn’t know that you are matching on an exchange and as far as I can see these terms are just there to protect themselves just in case.

      When they mention the deposit + free bet they actually mean the amount (not the actual money you put in).

      It’s worth noting that if all of your winnings end up on Betfair on the free bet or one of the rollovers that you should withdraw it from there…

      I hope that helps.

      Jake.

      Reply to this comment
  70. Joao

    10. Mar, 2014

    Hello,

    Thank you for this excelent guide. My question is are these websites going to give free bets to existing customers? Has that ever happened to you? Because if not we are talking about a limited resource of money.

    Hope to hear from you soon,
    Joao

    Reply to this comment
    • Jake Butler

      10. Mar, 2014

      Hi Joao,

      You are correct, matched betting is a limited pot of money. It would be nice if you could go forever.

      After taking advantage of the first set of bets you may be sent further free bet promotions from the sites in future though.

      Jake.

      Reply to this comment
  71. MKC

    11. Mar, 2014

    Hi jake,
    So basically in a way your turning that free bet that (let’s say £20 that isn’t worth actual money (eg.cannot be spent in shops )) into real money?
    Obviously like you said in the guide with the expectation of loosing the 5% commission and the odds are slightly out on site to site…

    Is that correct?

    Sorry if this question has already been asked but there are a lot of questions on here :) lol

    Thanks
    MKC

    Reply to this comment
    • Jake Butler

      11. Mar, 2014

      Hi MKC,

      You are correct.

      You can usually calculate the profit you’ll make from a free bet by taking a few quid off the free bet percentage.

      Jake.

      Reply to this comment
      • MKC

        12. Mar, 2014

        I see! I’m begining to understand this now…
        Just one more question, like in the example paddy power offered £20 free bet only WHEN you bet £10… So you use this £10 to activate your free bet..
        My question is: Do all sites offer this? Bet so much and get a free bet of £x. Or is this where reading the terms and conditions come in?
        MKC

        Reply to this comment
        • Jake Butler

          12. Mar, 2014

          Hi MKC,

          Most free bets (like the ones in the table at the bottom of this guide) are similar to Paddy Power.

          If they aren’t, we’ve written mini guides to help you out.

          Jake.

          Reply to this comment
  72. Stephen

    11. Mar, 2014

    Hi there,

    i just wondered with the new betfair £50 free bet would i have to make a new account separate from my exchange account or would i still get the free £50 bet if i just logged in?

    Thanks
    Stephen

    Reply to this comment
    • Owen Burek

      13. Mar, 2014

      Unfortunately the offer is only for new Betfair accounts, in otherwords the sportsbook and exchange are linked.

      Reply to this comment
  73. barry

    14. Mar, 2014

    Hi Jake,
    Is it necessary for you to wait for the result to come through before you place the free bet?

    Thanks
    Barry

    Reply to this comment
    • Jake Butler

      16. Mar, 2014

      Hi Barry,

      I would always recommend waiting for the results to clear before placing the next bet when doing matched betting.

      The majority of the sites require you to settle a bet before you can unlock the free bet anyway.

      Jake.

      Reply to this comment
  74. Chris

    17. Mar, 2014

    Hi Jake,

    I just click the betfair (fixed odd) link you added recently, but it just go auto loged in with my betfair exchange account. Do I have to open a new account or what?

    Reply to this comment
    • Jake Butler

      18. Mar, 2014

      Hi Chris,

      Unfortunately you cannot use this offer as you already have a Betfair account.

      Sorry about that.

      Jake.

      Reply to this comment
  75. Lauren

    30. Mar, 2014

    Ive been playing around with numbers in the spreadsheet. If i have a £10 free bet that is snr, but i bet £50 i make a much larger profit but have a huge lay risk. is the profit still calculated correctly, ie if i bet more money than the free bet but use the free bet as part of it, will i make a significantly larger profit or does it not work that way?

    Reply to this comment
    • Jake Butler

      31. Mar, 2014

      Hi Lauren,

      Unfortunately it doesn’t work this way.

      You can only make profit out of the free bet amount and nothing else.

      Jake.

      Reply to this comment
  76. Rich

    30. Mar, 2014

    Winner.com T&C’s “If there is evidence the terms have been breached and that customers are using free bets or other promotional offers to guarantee profits regardless of the outcome we reserve the right to void free bets or any bets funded by bonuses.”

    Is this something to be worried about?

    Thanks

    Reply to this comment
    • Jake Butler

      31. Mar, 2014

      Hi Rich,

      As far as we’re concerned you shouldn’t be too worried about this as it appears to be something they have put up to cover themselves.

      However, I cannot 100% guarantee that they won’t deny you your winnings. So the risk is yours.

      Jake.

      Reply to this comment
  77. Martin

    30. Mar, 2014

    Are you sure Titan Bet are legit? They’ve sent me an email requesting ID before I can withdraw anything (text below). None of the other sites have asked for anything of the sort on withdrawal, and there’s no reason why they should need it, right? I mean, what are they going to check a photo against? I don’t want to open myself up to identity fraud.

    Here’s what they had to say:

    We would like to inform you that, we have not been able to successfully determine your age and identity.

    In order to complete the process, please send us the items listed below so we can run a necessary security check on the documents requested.

    Either a copy of Passport, Birth Certificate or Driver’s License;

    The ID must display the following:

    • Photo
    • First and last name
    • Billing address as registered in the account
    • Birth date
    • Expiration date (if one is not present on the document please specify)
    • Signature

    Reply to this comment
    • Jake Butler

      31. Mar, 2014

      Hi Martin,

      They are 100% legit and a lot of sites do this. In fact Betfair asked me for my passport photocopy.

      They do it from time to time to verify that you are 18 or over.

      Thanks,
      Jake.

      Reply to this comment
      • Martin

        31. Mar, 2014

        Ok, thanks for the assurance. Great guide, by the way! Made around £150 in a week, with plenty more free bets to work through yet :)

        Reply to this comment
  78. Andrew

    31. Mar, 2014

    Hi Jake,

    I have an unused ’100% Initial Deposit Bonus’ up to £200 with Bet365.

    It says “To bet with your bonus, play through the amount of your qualifying deposit once on the sports and markets of your choice. You will need to rollover your deposit and bonus three times prior to making a withdrawal.”

    So would I do the first bet in your spreadsheet 3 times, then the 2nd bet, and then withdraw? Or another way?

    If I bet with the full £200, i’d be looking at very large collateral, so want to make sure I exploit it to the max/no risk.

    Thanks,

    Andrew

    Reply to this comment
    • Jake Butler

      31. Mar, 2014

      Hi Andrew,

      The Bet365 one does require a lot of upfront capital in order to get your profit.

      I guess the best outcome is to hope that while doing the rollover that the profit ends up in Betfair so that you can withdraw it and walk away.

      So, you need to place a bet of £200 with the first part of the spreadsheet.

      Then use the second part and put Stake not returned as 0 with the bonus.

      If this bet wins in betfair, you can withdraw your funds since no more follow up bets will be required.

      However, if it wins in Bet365 you will need to bets up to £1200 in order to be able to withdraw. You can match these follow up bets and they are obviously stake returned too.

      Jake.

      Reply to this comment
  79. Harry

    01. Apr, 2014

    The formulas in your workbook are quite redundant. For example, Cell D17 of the qualifying bet, you have subtract D12 from 1, then times it by D11, but then you multiply that by 0, so it will always equal 0 no matter what. You then divide that by 100, so that’s going to be 0 too, and finally you subtract 0 from 0. The whole middle section of that formula can just be removed

    Reply to this comment
    • Jake Butler

      02. Apr, 2014

      Hi Harry,

      Does the spreadhseet work? Yes! Then there isn’t much problem is there?

      Good spot though.

      Jake.

      Reply to this comment
  80. Dave

    05. Apr, 2014

    Hi Jake,

    Just went through the process of the 1st bet and received my £20 free bet from Paddypower however, the free bet has been given as four £5 bets as opposed to the £20 bet. Have you encountered this before? Cheers Dave

    Reply to this comment
    • Jake Butler

      07. Apr, 2014

      Hi Dave,

      Annoyingly PP changed the terms over the Grand National Weekend without letting us know.

      You can still make a profit though by using the second part of the spreadsheet 4 times as £5 bets instead of once with a £20.

      I hope that makes sense.

      Jake.

      Reply to this comment
  81. Tom

    06. Apr, 2014

    Hi Jake,

    Great post! Already made some tidy profit using it! One question though.

    Is it not possible to (for example) just recreate another Paddypower account to get the free bets again? Then rinse and repeat? Because from what I have read, I am limited to one chance per betting company?

    Thanks in advance :)

    Tom

    Reply to this comment
    • Jake Butler

      07. Apr, 2014

      Hi Tom,

      The terms of the betting sites say that it’s only 1 account per person and setting up multiple accounts is in fact fraud.

      Jake.

      Reply to this comment
      • Tom

        07. Apr, 2014

        Thanks for the swift reply Jake!

        Wow, did not realise that! So you are limited to one free bet per betting company? So I can’t use Paddypower again now?

        How do I continue Matched Betting then if I run out of betting companies to take the free bets from?

        Cheers

        Tom

        Reply to this comment
        • Jake Butler

          08. Apr, 2014

          Hi Tom,

          That is correct. It would be nice if this was an infinite source of money but I’m afraid it isn’t.

          The best ways to continue to make profit are to:

          1. Leave your accounts unused and hope they try to lure you back with more free bets (usually around key sporting events *hint* World Cup)
          2. Search for other free bets from companies you haven’t signed up to yet
          3. Wait for new betting companies to emerge

          I hope that helps,
          Jake.

          Reply to this comment
  82. Colin

    08. Apr, 2014

    Hi Jake,

    I’m probably asking the most stupid question because I’ve never gambled in my life! On the Lay and Back principle, what happens if the teams draw?

    Cheers

    Col

    Reply to this comment
    • Jake Butler

      09. Apr, 2014

      Hi Colin,

      It’s not a stupid question, most people who do matched betting have (and never will) gamble.

      When you lay an event you are betting that it won’t happen. Eg. if I lay a team to win and they lose or draw, I win!

      Hope that makes sense.

      Reply to this comment
  83. Colin

    09. Apr, 2014

    Thanks Jake, it makes perfect sense and now I’m jumping on the band wagon.

    Cheers

    Col

    Reply to this comment
  84. Garth

    09. Apr, 2014

    Hi Jake, great guide! Just have a question about betfair, I signed up to them yesterday and so far have only used their website to do the lay betting in the exchange. I’ve seen noticed that they also match new customers up to 50 euro on their first bet. So my question is would I be able to place a 50 euro bet in their sportsbook section and lay it in their exchange section as outlined in your guide and then do the same to earn profit with their 50 euro matched bet?
    Hope that made sense.

    Reply to this comment
    • Owen Burek

      10. Apr, 2014

      Hi Garth,

      Unfortunately the two sites are connected, so registering on the exchange also gives you an account on their new sportsbook. The free bet there is for new customers.

      I just added it to the bottom of the table in case you and a friend wanted to share a matched bet ;)

      Reply to this comment
      • Garth

        10. Apr, 2014

        But since I am a new customer with betfair (as of yesterday) would I be correct in saying that if I where to place a 50 euro bet in their sportsbook, say juventus to win tonight for example, would betfair then give me a 50 euro free bet?
        Thanks for the reply!

        Reply to this comment
        • Owen Burek

          10. Apr, 2014

          Good question… I have a feeling that it might be just for those who sign up via the sportsbook, but it’s a new offer so I’m not 100%.

          I would contact them about it, they’re usually very helpful. And if you can let me know what they say that’d be great :)

          Reply to this comment
          • Garth

            10. Apr, 2014

            I contacted them and they said I have 30 days to place a bet ranging from 5 euro to 50 euro in their sportsbook section and they would match it :) Just wondering now would I be able to back 50 euro on a team in their sportsbook and then head over to the exchange and lay it there?

          • Owen Burek

            10. Apr, 2014

            Yep, can’t see any reason why not! The question was over whether you could get the free bet at all.

            That’s great news. Thanks for passing on the info, will help others.

  85. Colin

    15. Apr, 2014

    Hi, how much start up capital would you recommend to have before starting this?

    thanks

    Col

    Reply to this comment
    • Jake Butler

      15. Apr, 2014

      Hi Colin,

      For the smaller bets you would need around £150 at hand.

      For some of the larger bets (such as the £200 ones) you would need around £1000 in my experience.

      Jake.

      Reply to this comment
  86. Jon

    15. Apr, 2014

    Hi,

    Awesome guide, began yesterday with the qualifying bet for PP and making some profit today.

    However, I’ve been trying to get my head round something. Say, if West Brom had beaten Everton 2-1 instead of vice versa, how would the money be distributed between accounts?

    Obviously I will have lost the £10 from PP, so how much would there be in the Betfair account? To have losses of a few pence it would have to be about £20?

    Cheers, Jon.

    Reply to this comment
    • Jake Butler

      15. Apr, 2014

      Hi Jon,

      Your Betfair account would only have to have an amount just under £20 in it.

      The maths is a little complicated but the spreadsheet guarantees that it’ll work out every time.

      Jake.

      Reply to this comment
      • Jon

        15. Apr, 2014

        Hi Jake,

        Thanks for the quick reply,

        I think I’ve managed to work it out now, I had forgotten to add on the ~3.50 that would still be left in the Betfair account after the ~6.50 lay, which would take the balance up to just less than £20 for the betfair account.

        Awesome article,

        Cheers, Jon.

        Reply to this comment

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