Matched Betting – A Beginner’s Guide

Do you want to know more on no risk betting? Our article on Matched Betting – A Beginner’s
Guide can help.
Matched betting is a low risk form of betting made on sporting events, used to make guaranteed
profits. Also known as ‘bonus hunting’ or ‘no-risk betting’, this betting strategy lets you use free
bets and other types of promotions, to get guaranteed profits by having all the outcomes of a
match or event covered.
When employed correctly, Matched Betting can make you profits from free bets and other
incentives provided by bookmakers. It is considered to be risk-free, since it is based on well-
calculated mathematical equations, rather than on chance.
In this guide, we explain extensively what matched betting is, how it works, and everything else
to know.

What is Matched Betting?
Matched Betting is when you cover all the outcomes of an event to qualify for free bets and
bonuses for an amount that is next to nothing. After gaining a free bet, you repeat this process to
get a fixed profit.

Identifying a Matched Bet
A matched bet occurs when you back two contrasting bets to minimize your risk. Here is an
example below:
● Placing a BACK – you bet FOR a sports result at a betting company.
● Placing LAY – you are betting AGAINST a sports result at a betting exchange like
BetFair. Lay means that you are betting against an eventuality by accepting stakes on it
like a bookmaker.
The two bets you stake will cancel each other out, causing you to break even. There is no profit
or loss, but since you are gambling to make profit, you should mix Matched Bet with a Free Bet
offered by a bookie.
Back Bet
A back bet is the most traditional betting form, when you back a bet, you are saying “I predict
this will win”.

If the selection you made wins, then you also win your bet and the profit that comes with it as
well.
Lay Bet
A Lay bet is when you bet against an outcome in a match. If the team you wager on doesn’t win
the match, then you automatically win your lay bet. Similarly, if the result ends in a draw, then
your lay bet also wins because the team still didn’t win the match.

How Does Matched Betting Work?
Matched Betting uses lay bets to cancel out any risks posed by a back bet. To remove all risks,
you back and lay against the same result. You won’t lose your bet because you have covered
every outcome.
You can make profits from this system using free bets offered by bookmakers and other
promotions, but this guide covers free bets only because it is simpler that way.
In matched betting, your first bet is a “qualifying bet”, this is what qualifies you to earn a free
bet. Your qualifying bet won’t earn you any profits and you’ll likely lose money in it.
When you receive your free bet from a bookie, use the back and lay method to make profit. Since
you are now playing with another bettor’s money for half of the bets, you keep the winnings.
Doing the above, removes all risks and assures you an easy payout, no matter the result of any
sporting event you wager on. Furthermore, matched betting constantly offers you ways to earn
free bets that will form the basis of your betting income.
Finally, to understand matched betting you need to also understand lay commission and liability.
Lay Commission
Lay bets require a little percentage of your winnings as commission. This commission is how
betting exchange platforms make their profits and how bookmakers make their own profits by
giving you unfair odds.
Note, betting exchanges offer more profit return on your bets often, even with you paying a
commission.
Liability

Liability is the amount you stand to lose on a lay bet. For instance if you placed a £25 bet with a
bookie at odds of 3.0 (2/1), you stand to win £50 profit. The bookie’s liability here is £50. When
you lay bets, you are the bookmaker. Note, you won’t technically lose this money when you use
the back and lay technique.

How To Do A Matched Betting
Matched betting at first looks impossible and difficult, but it is something you can grasp easily
through practice. We used the scenario below to explain how to do a matched betting:
● A known bookmaker is offering you a £25 free bet when you bet £25 of your own
money.
● You sign up and deposit £25.
● Next, you use an oddsmatcher to find a good event to bet on. Choose a bookmaker and
the minimum odds you want to bet on in the oddsmatcher filters, to get a good range of
bet choices.
If the oddsmatcher says that Manchester City have back odds of 2.0 to beat Tottenham, the lay
odds for the result are 2.02.
You place your £25 bet on Manchester City, then go to Betfair Exchange and LAY Manchester
City not to win at lay odds of 2.02.
So, how do you know how much to lay? Simply use a lay betting calculator. In the calculator you
input the information you already have to calculate your lay stake:
● £25 stake
● 2.0 back odds
● 2.02 lay odds
● 5% lay commission on Betfair Exchange
When you put all of this in, the calculator will tell you what your lay stake should be. If you laid
for example – £25.38, that’s what your lay stake is.
The calculator also shows your liability will be. In this case, at odds of 2.02 with a stake of
£25.38 your liability is £25.89. That is the amount you must have in your exchange balance to
afford this qualifying bet you want to lay.
You can expect two possible outcomes:

● Manchester City wins and you get a £25 profit from the bookmaker and lose £25.89 on
the Betfair Exchange.
● Or Manchester City draws or loses, and you lose £25 from the bookie, but gain £24.11
profit on Betfair Exchange which is the lay stake, minus commission.
● Either way your bet goes, you’ll lose 89 pence. This loss is known as a qualifying loss.

What is a qualifying loss?
A qualifying loss is the money you lose in a matched bet to unlock a free bet. In the example we
explained above, you lost 89 pence, but gained £25 free bet.
When you repeat the whole process you’ve done before, use the oddsmatcher to find a bet with
higher odds. The higher the odds you back the bigger your profit, have enough money in your
exchange balance to cover the liability.
For the sample qualifying loss bet, you will be placing it on Tottenham. The oddsmatcher shows
that this team has a 5.0 odds of winning. The lay odds are 5.2.
The matched betting calculator will be changed by you from ‘Normal’, which is the mode used
for qualifying bets to ‘Free Bet (SNR)’.
Add back all the information you did before – your back stake which is the value of your free bet
£25, back odds of 5.0, lay odds of 5.2 and lay commission of 5%.
The calculator will suggest that you lay £19.42 at 5.2 odds and also show the profit being
generated.
If Tottenham wins, you’ll get £100 from the bookmaker but lose £81.56 in liability on Betfair,
making you an overall profit of £18.44.
Similarly, if Tottenham draws or loses, you’ll fail to win with your free bet with the bookmaker,
you lose nothing, but will win your lay of £19.42 on Betfair.
Betfair takes a 5% commission on profits, so either way you would have won £18.44 on this
matched bet.
Understanding Betting Exchange
Betting Exchange is when you bet against other gamblers, instead of against a bookmaker.

This system allows you to propose the bet you want to place, and if another user is interested in
taking that bet, it becomes ‘matched’. The person taking you up on your bet, now plays the role of
a bookmaker.
Simply put, the bettor placed a ‘back’ bet, and the user playing the bookmaker placed a ‘lay’ bet.
Often, you’ll be on the ‘lay’ side when matched betting, and sometimes you will ‘back’,
understanding both sides.
If the ‘back’ bettor’s bet wins, the person on the ‘lay’ side will pay their winnings, just as a
bookmaker would. If the ‘back’ bet was £10 on Manchester City to win at odds of 2/1, and they
won, the ‘lay’ bettor will pay £20. £20 is the ‘lay’ bettor’s liability.
Note, that on an exchange you’ll be on the ‘lay’ side, playing the role of the bookmaker. This
allows you to cover all the possible outcomes of an event using only two bets, even if it is more
than one outcome.
For example, if the result of a football match has three outcomes – a home win, away win, or
draw, and you ‘back’ the home team to win at the bookmaker, this covers one outcome.
You can act as the bookmaker and place a ‘lay’ bet on the home team at the exchange, to bet
against them not win, this will cover the draw and away win outcomes.
You can make money on betting exchanges by taking a commission of 5% from the winnings of
the bettor who won.

Best Matched Betting Tips
These are some of the best matched betting tips to use for success:

1. Have a funded betting exchange account.
2. Find places where free bets are available for signups.
3. Have enough money in your betting account.
   Here’s how to apply different free bets by bookmakers.
4. Meet the “Rollover Requirement” by crediting your betting account and making this ‘Free
   Money’ available for stakes. To qualify for withdrawal, first place certain stakes.
5. Qualify for a free bet by placing a qualifying bet. This is called “Stakes Not Returned”.

Matched betting ensures that Bookmakers odds are related odds. If you stake a qualifying bet
backing Manchester City to beat Tottenham at 2.60 decimal odds, and lay Tottenham at 2.75
odds on exchange, you’re evening out the bet by laying against Tottenham.
If the difference between 2.60 and 2.75 is much with the odds placed on the value of the bet, then
it’s an issue. The bookie’s price is 81.1% of the Betway Lay odds, which is a weak match, instead
lay your odds to 2.70. The risk is less if the opposite odds are closer.

Rugby Matched Betting
Rugby is one of the sports you can apply Matched Betting to, here’s what you should know:

1. The odds given to both teams by bookies.
2. Understand the strength of the two teams you’re betting on.
3. If your bookie allows matched betting on rugby.

NFL Matched Betting
NFL matched betting is lucrative, with similar odds and offers good value. Teams in the same
city or owned by the same people, often have similar odds and give reasonable profits. These are
other things to know:

1. Understand a game’s point variation.
2. Injuries and suspensions to star players.
3. Match bet with two weak sides, then two strong sides.
4. Point conversion and its influence on your team.

Matched Betting Strategy
To succeed in matched betting, use these highlighted strategies:

1. All Free Bets have terms and conditions tied to them, know this.
2. Accurately place the first/qualifying bet, you must stake with betting companies.
3. Identify trick terminologies that rob you of free bet promos.
4. Have enough money on your Exchange account to stake Lay bets.
5. If your exchange account is low on funds, queue your bets at higher prices to reduce
   liabilities and increase profits, or wait for someone to match your bets.
6. Match your bets meticulously to avoid errors.
7. Use low odds for qualifying/rollover bets and huge odds for SNR to limit your losses and
   make viable profits.