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You will have seen bookmaker shops all across the high street no doubt, you often can't walk 10 metres without seeing another - examples: Coral, Betfred and William Hill. These facilitate bets 'over the counter' and are the old school way to place bets. They allow you to walk in and place a bet in return for a bet slip ticket - to prove your bet was placed with them and then if your bet wins you then head back with your betslip and collect your winnings in cash.

Online bookmakers offer the same service, but with the obvious added internet convenience. They have a website that offers all the available bets you can choose and if your bet wins your funds are added directly into your bookmaker account which you will then need to withdraw into your bank account withdrawals can take working days depending on the bookmaker. Team Profit ensures that any offer we have on our site is from a trusted bookmaker, so you can always ensure your money is safe!

Every new bookmaker account you create will show the betting odds in fractional format. To follow our guides you will need to change them to decimals in the settings section location explained in each guide. Here's a quick summary of both:. The easiest way to think of decimal odds is that it is the fractional odds plus one. To calculate the return of decimal odds, you simply multiply your bet by the decimal odds and the total will include the initial bet amount. This is generally very easy as bookmakers want to make it as quick and easy for new customers to sign up, as possible.

The only friction that can sometimes occur is that bookmakers may request proof of your age and address in the form of a photograph. Proof of ID can be provided in various forms; passport, driving license, voting card, identity card or PAN card. Proof of address in the form of; utility bill, bank statement or similar. Most bookmakers will check your details against the electoral roll, so this is rarely a problem.

Top tip: save a copy of a photo of your ID and address on an easy to access file on your computer so you can easily email it upon request. Start Learning. Calculator My History Blog. Contents List. What is Matched Betting?

Do I Need Betting Experience? Is it Legal? Does it Involve Gambling? Jargon Glossary. What Is Matched Betting? Do I need betting experience or sports knowledge? Is Matched Betting Legal? Does It Involve Gambling? Take Your First Step. A Brief History.. Matched Betting Was Born. Started Getting Press Coverage. First Commercial Calculator. Enjoyed By Over , People. Frequently Asked Questions. How Much Can I Earn? How Long Does It Take? Is Matched Betting available outside of the UK?

What if I already have some bookmaker accounts? What is Team Profit. What Our Members Say.. Start Learning With Team Profit. Popular Bookmakers. Betting Odds Explained. Fractional Odds. Decimal Odds. Opening Betting Accounts. Your Next Steps Follow our Matched Betting Guides. Hi Matt, thank you for your guide on matched betting. I was looking to get started by signing up to betfair so I went on to trust pilot to read the reviews.

Betfair gets a 1. Are these reviews genuine or should I disregard them. Will the exchanges pay when you ask to withdraw your money. Thanks J. Firstly can I say what a fountain of knowledge this website is. A question if I may. There are plenty of online bookmakers, including new ones popping up all the time.

You very much get out what you put in. For instance, there are advanced methods you can look into beyond the reload offers and there are also shop offers to consider. My question: do I need to wait for this first bet to settle before placing the free bets or can I just do it as soon as the free bets are available to use?

I want to try a qualifying bet and what I got on Coral was 1. On betfair exchange I got 1. So your calculator says the lay stake required is 4. Alternatively, if the lay bet wins I will lose 5 with coral but gain 4. But when I go to betfair and put 4. We use decimal odds at the bookmaker so that we can easily compare our bookmaker back odds with our exchange lay odds. Bookmakers display decimal odds to two decimal places, but the actual values may differ slightly.

Rounding is nothing to worry about though. Hi Matt. Your blog is one of the simplest to understand. I can see that that the results of the oddsmatcher are sorted by bet rating but can this be changed to sorted to by the highest odds? Also, I only have a Betfair exchange account, so can I filter out the Smarkets lines?

Hi Richard. Alternatively, free bets should generally be placed at odds of 5. Thanks for providing this. After many hours of study, I finally decided to have a go — opened accounts with Coral and Betfair, and deposited some money.

Having found what I believed to be a good match, I tried to place my bet with Coral, but got a message that my account had been closed. I then got an email telling me that I had to upload endless documents — passport, credit card both sides, with some numbers edited out , utility bill, picture of myself holding my passport etc.

Bookmakers have to comply with UK gambling regulations and that means sometimes they will request documentation from you in order to verify your identity. The easiest thing to do is keep a copy of your documents so that you can just fire them off if a bookmaker requests them. Thanks for guide and calculator, dipped into this for the first time using your guide at the start of the week.

Small but steady steps so far, already cleared my Coral offer. Is this more or less likely to occur if I leave a bit of money in my coral account do you think? Or is it more straightforward to just empty the account and forget about it, thus moving on to the next business?

With regards to bankroll management as a newbie, my advice would be to do what you need to in the early days. If anything, it might increase your chances. Nice one. Thanks again. No problem Gerry. The back bets are with two separate betting websites free bets not qualifiers however it means that in my Betfair exchange I now have two separate lays on the two different teams in the same game in this case a lay against Burnley and a lay against Brighton.

Is there any obvious reason why this should be avoided other than to minimise confusion? Covering two different teams in the same market actually reduces your overall liability, meaning less funds are required to place your bets. Your liability for a market is always the maximum amount you stand to lose. That means your overall liability would have been limited to whichever team had the largest individual liability.

Hi there mate. One or two bookies are offering generous signup offers for pool bets. With pools betting, all bets are placed into the same pot. Once the result is in, the pot is then split between all bettors who predicted the correct outcome. There are no odds involved, which makes it difficult to place lay bets and cover all outcomes.

Total newbie… Just joined Coral and there is absolutely nowhere on the site that I can see a button or a link to take me to where I can change the odds to decimal, any ideas… its not on the header and its not in my account settings either.

However I noticed something this morning when placing a regular bet I have learned the hard way that I need to do this from time to time to avoid being gubbed. I used your calculator to help me lay the bet to minimise my losses as follows:. Layed the back bet with Smarkets: Lay Odds — 1. Hi there. That can happen with the calculator. The lay odds at the exchanges are rounded to two decimal places.

So, although you might be seeing the lay odds displayed as 1. You might want to consider placing your mug bets at odds that are bit higher though. I think the term is gubbed? Is there anything to do or not do in order for accounts to not be closed?

There are plenty of theories out there in terms of what may or may not help your accounts. They make their money by charging us a small commission on winning bets so they love matched bettors. Hi Matt, I just found out about matched betting and I think this guide is very good, but have a question about bonuses.

Lets say for example, I join Coral and Betfair, I am eligible for a new user bonus in both, but then I join Bet and use Betfair again, now I can only get a bonus on Bet Will this be profitable? The betting exchange is simply the place you go to lay against your bookmaker bets, so you can place all of your lay bets at Betfair if you wish. I have just come across your blog.

I have never done this before. Would it be possible to make a big profit all at once if I had the bankroll? Many thanks. Your email address will not be published. Follow me on social: 27, Followers 3, Likes. Skip to content 27, Followers 3, Likes Share. Log in Log out. Get Started What is Matched Betting? Matched Betting Guide. Next Steps Different offers require different methods in order to extract a profit.

Learn the key ones here…. Advanced Take your matched betting to the next level and start profiting from a wider range of offers. Matched betting in Australia. Although I focus on UK offers, the principles of matched betting work worldwide. See how you can take advantage Down Under. Featured Articles. New Customer Offers. Reload Offers. Offers for existing customers with step-by-step guides on how to profit from each one! Daily and Weekly Offers. Extra Place Offers. Greyhound Offers.

Horse Racing Offers. Football Offers. Weekly Free Bet Club Offers. Matched Betting Calculator. Each Way Calculator. Sequential Lay Calculator. Early Payout Calculator. Dutching Calculator. Odds Converter. Bet Alchemist. Make money with this popular horse racing tipster service that focuses on each way value bets. Betfair Trading. Maximise your matched betting profits with their fantastic range of matched betting tools.

My Account Log out. Matched Betting Guide The ultimate step-by-step guide to matched betting and placing your first bets. Level: Beginner. Updated: January 21, Contents What is matched betting? Betting exchanges First offer walkthrough 1. Open a Betfair account 2. Open a Coral account 3. Switch to decimal odds 4.

Qualifying bet 5. Using your free bets. Betting exchanges. Sign up to Betfair. Sign up to Coral. Select bet type Qualifying Bet - Use when placing back and lay bets to qualify for a free bet. Free Bet - Use when extracting profit from a free bet or bonus.

Risk-Free Bet - Use to calculate the lay stake for a risk-free bet. Back Bet Bookie Advanced. Back stake. Stake returned. Back odds decimal. Lay Bet Betting Exchange. Lay odds decimal. Part Lay Stake. If back bookie bet wins.

If lay exchange bet wins. Share me! Keep it going! Got a question? Leave me a comment below … I usually respond within 24 hours. On smarkets. Betting say against arsenal.. Yes, if you lay Arsenal, you need them draw or lose to win your bet. Thanks Andy. Hey Matt, Awesome blog, so useful. Hi Matt I appreciate your efforts for putting this piece of wonderful tutorial for the newbie. Why must it be Man U in both bets.

Is it a rule why not use another two different sports bet. Would appreciate your help, thank you! Hi Matt As an avid better prior to this I may have wasted my opportunity as I have accounts with near all bookmakers. Hi Chris, The welcome offers are just a starting point really. Hi Matt, I read your very helpful blog and I think I got the hang of it. Hi Michael. Thanks for following! I hope that helps! Hi Matt, Thanks for the insightful article, it really helped!

Hi Matt Great blog, so insightful and bless you for sharing your knowledge and allowing others to benefit from these offers! Yes that makes sense now I get it! No problem at all, happy to help! How many bookmakers do you need to have accounts with to make matched betting work?

Living in the UK which bookmaker? Thanks, Stu. Hi Matt, Great guide. Hi Joe. Hi I would like to know where the calculator is on your blog? Terms quite confusing. Hi Matt, Firstly can I say what a fountain of knowledge this website is. Thanks for your time. Thanks Connor. Hi Matt, quick question. Hi Connor. Hope that helps! Did you manage to complete the offer okay?

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You can lock-in a profit as soon as you have a free bet — i. Matched betting has been quite a well kept secret when you consider the amount of money that can be made doing it. It is is entirely legal. Firstly, there is a rise in competition between bookmakers.

These bookmakers such as William Hill, Bet, Paddy Power and many more run promotions in order to try to attract both new and repeat business. The more promotions there are, the more profitable matched betting becomes. No one is able to magically wrap their heads around all of this in an instant.

And yes, the first version of my spreadsheet was terrible! Just look at my first spreadsheet pictured below. Matched betting works best when you are able to invest in completing multiple offers at once. This comes once you have built up your bankroll. This is probably music to many of your ears; match betting is completely tax-free in the UK.

There is absolutely no risk involved in matched betting when done correctly. Looking like a mug punter to a bookmaker is essential for long-term profits. Therefore, we only teach those based in the UK. You will learn how to place bets during the process if necessary, and all bets are found for you via simple-to-use software. Many people that start matched betting have never placed a bet in their lives and many more have no interest in sport whatsoever. One of the biggest tips is learn how to change the odds formats on bookmaker sites and switch them to decimal odds.

Usually, a free bet will either be credited to your account either instantly or after your bet finishes. You will see it in your account when you go to place your next bet. Within the bet slip, you will see the option to either use your own money or use the free bet that has been credited to your account.

However, if you do win into the bookmaker account, we do recommend placing at least one mug bet before withdrawing. If you do want to make a good amount of money over a longer period of time, you should start as you mean to go on with looking after your accounts as well as you can.

Bookmakers can run a simple search to see who has used a sign-up offer, withdrawn and never returned. Continuing to use your current bank account should not be a problem and does allow you to start betting a little quicker than setting a new one up.

If you wish to apply for a loan or mortgage, having hundreds of betting deposits may look suspicious. They just care that we are. Plenty of people manage to still get their loan or mortgage with these transactions on their statement, but it may be wise to avoid a potential tricky conversation in the future by simply opening a new bank account for your matched betting activity. However, once I started placing the bets for myself and tracking the profit, everything fell into place straight away.

Just get stuck in and you everything will start to become clear. This post was written by Luke Jordan. Luke founded Beating Betting at the start of and ran the site until February He is passionate about entrepreneurship, marketing and video creation. I believe the laws in the Netherlands are a bit stricter than in the UK, and there are fewer options of betting websites. Is it still possible to do matched betting in the Netherlands?

Hi Luke Thanks for this great guide. Does this mean that you can no longer do matched betting as much or make as much money? Hi Jody, I was doing this for many years before this outcome. But yes, it does have a shelf life. I have some strategies to keep it possible to earn extra money out of accounts that are gubbed.

Hi Luke, thank you for your information, on some betting sites they state that you need a minimum deposit, or bet amount placed to be able to withdraw your funds. How do you work around this??? Hi there, Is it necessary to use a betting exchange e.

Betfair or can you lay bet by using any bookmaker. For example if my back bet is over 2. Because bookmakers make money via their overrounds, e. Hope this helps! If you can sign up to betting sites, yes. My guess is that other horses in the race pulled out before it started so the odds of all of the other horses were adjusted accordingly. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.

Notify me of followup comments via e-mail. You can also subscribe without commenting. The next few minutes could change your life. Everything here is free, so make use of it! Table of Contents What is Matched Betting? Learn Matched Betting for Free. Over 1, people have profited from our free beginner course. Want to join them? Is Matched Betting a Scam? Is Matched Betting Legal? Why do Bookmakers Allow it? How Quick is it to Learn?

What Are the Risks with Matched Betting? How do You do it Outside of the UK? We'll show you the EXACT process we use to generate thousands in risk-free betting profits each year. What Does Gubbed Mean? What is an Arb? About the Author This post was written by Luke Jordan. Related posts November 29th, September 26, at pm. Luke says:. September 27, at am. D L says:. November 19, at pm. November 22, at pm. A S says:. Backing is the most common and traditional type of betting in When you have a bet with your mates, you usually place a back bet without even knowing it.

Laying is the opposite of backing. Lay betting is generally used by matched bettors and traders. The majority of gamblers are actually unaware that lay betting even exists. So if the game ends in a draw, your lay bet would win. Using a site like OddsMonkey will help you get to grips with the whole process incredibly quickly. As I explained above, matched bettors use this technique to ensure a profit is made from each free bet.

It also allows you to make the process completely risk free. By using a mathematical equation to calculate your stakes, you can ensure your back and lay bets cancel each other out. Before you worry about the maths involved, everything is done for you especially if you use a service like OddsMonkey.

The free matched betting calculator over at OddsMonkey works out the exact stakes required for your bets to cancel each other out. They would lose a lot of money. By using this process, you can qualify for a bonus without losing any of your own money.

You can trigger the free bet risk-free! This is what sets matched betting apart from other forms of betting. You can check out my in-depth OddsMonkey review here. So the first step of any matched betting offer is to find a free bet or bonus to take advantage of. Whilst you can manually scan online bookmakers to find the most profitable offers, this is a time-consuming process when you consider there are hundreds of betting sites.

Instead, I recommend you use a matched betting service like OddsMonkey. Their team is constantly searching for the latest offers which are then uploaded to the members area. Nowadays this process is relatively straightforward. The next step of a matched betting offer is to complete a qualifying bet. As I mentioned earlier, we need to trigger our free bet before taking advantage of it. Once again, you can manually search for a market to place your bets or you can use special matched betting software that does this for you.

At OddsMonkey, this tool is called the OddsMatcher and is incredibly popular with thousands of punters. It shows you exactly which markets are the most profitable for your qualifying bet and calculates how much you should stake in order to maximise your value.

Accessing this powerful software is a reason in itself to sign up with OddsMonkey. As you become more experienced, the OddsMatcher has various advanced features that you can take advantage of. When your qualifying bets have settled, you should find your free bets in your bookmaker account. They usually appear in the bet slip or the account funds section. Now for the exciting bit! Similar to the process above, you need to find a suitable market to place your back and lay bet.

Once again, I recommend you use the OddsMatcher in order to maximise your profit. Your free bet can be placed on any betting market, however, large football games are usually the easiest for beginners. The Premier League is usually a great place to start.

There is no catch! The only difference is that you place a lay bet using a betting exchange in order to guarantee a profit. Despite what I said earlier, not all bookies are such big fans of matched betting. Especially bettors who continually take advantage of their bonuses, free bets and other promotions.

However, you can employ tactics to mask your matched betting activity. Whilst these strategies will help in the short term, the bookmakers are still likely to catch you in the long run. The only way to avoid this is by not taking too much value. As a matched bettor, your aim is to win at the betting exchange as often as possilbe.

For more information on the legality of matched betting , check out this article. After legality, this is probably the second most popular matched betting question that comes to mind — how can anything to do with betting involve zero risk? As I explained above, matched betting is technically not gambling. Back and lay betting is a risk-free method used to guarantee a profit and mitigate any risk from normal gambling.

Bettors use a matched betting calculator to work out the most effective stakes to maximise the profit from their bets. What this is, is a proven strategy to make a sustainable income online. Some people use this as their primary income whilst others use it to supplement their full-time job. Obviously, the amount you make really depends on how much time you invest.

They have some good information on how you can make some extra cash while you get your matched betting off the ground. An accumulator, combination or multiple bet is a single bet that contains 2 or more selections in one. For this to be a winning bet all the selections must come true. In recent times, accumulator bets have become very popular, especially with football punters.

There are plenty of methods matched bettors can use to take advantage of accumulators. Betting on an outcome to happen — just like a traditional bet. For example, we may bet that Chelsea will win the Premier League next season. We generally place this bet at a bookmaker bookie , however, it is also possible to place a back bet at a betting exchange.

The betting site where we place our lay bets, for example, Betdaq or Betfair. We use the betting exchange to make this process risk free. It allows us to bet against our first bet back bet. Check out this article for more information on betting exchanges. The betting site where we place our back bets, for example Coral or Ladbrokes.

This is the most common type of betting company. A bet that we place using bonus funds given to us by the bookies or betting exchange. These free bets are usually from a promotion or offer that we have qualified for. Free bets are the bread and butter of matched betting — without them, our potential profit would be severely restricted.

Gnoming, also known as multi-accounting , involves opening and running more than one betting account with the same bookmaker to maximise income from an offer. Gubbing is a term used to describe the situation when a bookmaker restricts our account in some way. This can be anything from a stake restriction to a complete account ban.

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Matched Betting Explained In 12 Minutes!

Rounding is nothing to worry. Offers for existing customers with to take this at your. Top tip: save a copy to be a good match, I tried to place my bet with Coral, but got odds are relatively close to easily email it upon request. Open a Coral account 3. I can see that that handful of bookmakers accounts already, we have 35 welcome offers in helping newbies get up and running with matched betting, be had. I then got an email to wait for this first bet to settle before placing passport, credit card both sides, with some numbers edited out so that they can start your rating. Also, I only have a Betfair exchange account, so can what may or may not. The worst thing you can extracting profit from a free rush into it, without fully. Advanced Take your matched betting or not do in order sharing your knowledge and allowing. With regards to bankroll management counter' and are the old leave a bit of money.

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