No risk matched betting is one of the best methods to make money online.
You can earn up to £1000 per month risk and tax free all from the comfort of your own home.
This definitive matched betting guide will take you through everything you need to know from how the process works to starting a free trail with OddsMonkey.
PROFIT WITH MATCHED BETTING
Plus we clear up whether no risk matched betting still works in 2020 and share our top tips to maximise your income right now.
Ready? Let’s get started.
You may have heard of no risk matched betting before but you’re still not sure exactly what it is and how it works.
Not to worry…
We’ve created this matched betting guide with complete beginners in mind and left no stone unturned. Read on to find out more about no-risk matched betting and how you can get started today.
To kick things off, here’s a simple definition:
No risk matched betting or double betting as it’s sometimes called is a risk-free betting method where individuals take advantage of bookmaker’s free bets, bonuses and other promotions.
Matched betting is an incredibly popular method of making money online and its attraction continues to grow as more people find out about its inherent benefits and potential.
Individuals who use matched betting make money from free bets and incentives offered by UK bookmakers such as Coral, Ladbrokes and Bet365.
There are hundreds of bookmakers all offering their own unique offers and promotions making no-risk matched betting incredibly profitable in 2020.
So, how does no-risk matched betting work and how can it be risk free?
Before we get into the nuts and bolts of how no risk matched betting works, let’s clear a few things up.
The bookmakers don’t give out free bets without getting something in return. There is always some form of qualifying criteria involved. Most free bets will look something like this Betdaq example: Bet £10, Get £10.
So in the example above, you’d need to stake £10 before gaining access to your free bet. To guarantee a profit from this bonus, bettors use a risk-free method called back and lay betting.
It’s vital you understand how this method works as you’ll use this process in every matched bet you complete. That’s why I recommend you use a matched betting site like OddsMonkey.
OddsMonkey does a great job of explaining how back and lay betting works with easy to follow video tutorials and guides. Here’s what existing members think of OddsMonkey.
Check out this article for more information on what OddsMonkey offers.
Back and lay betting
As this may be the first time you’ve heard of back and lay betting, let’s look into the details of what it is and why it’s so important for match betting.
The first thing you need to know is that this method involves placing two opposite bets. A back bet and a lay bet.
The first bet is called a back bet and it’s placed at a traditional bookmaker like Coral or Ladbrokes. This bet is used to activate or redeem your free bet offered by the bookmaker.
Back bets are generally placed on a certain team to win an event or game. For example, you might bet on Leicester City to beat Man Utd or on a horse to win a race.
The second bet is called a lay bet and it’s placed at a betting exchange such as Betdaq (more on betting exchanges a little later). This bet is used to make your first bet risk free.
Lay bets allow you to bet against a certain outcome. So using the example above, you’d now bet that Leicester City would NOT beat Man Utd.
The lay bet is placed on the exact opposite market to the back bet. Therefore, these two bets are used to cancel each other out removing any risk from your bets.
By using this no risk betting technique, the outcome is based on a mathematical equation rather than chance. Matched bettors know the exact outcome of their bets before an event even starts.
This allows bettors to ensure a profit no matter what the outcome of their bets.
Individuals use a matched betting calculator to work out the required bets they need to place and to ensure a profit with no-risk matched betting.
If you’re a bit lost at this stage, not to worry. All will become clear a little later in our matched betting example.
What are betting exchanges?
Betting exchanges may be a new concept to some of you, so let’s find out what they are and why they’re so important.
Betting exchanges are online gambling websites which match bettors together. They’re essentially marketplaces for punters looking to place opposite bets. Look at them like the eBay of gambling – they match buyers and sellers.
Exchanges allow you to act as the bookmaker and sell a bet (lay betting) as well as buying a bet (back betting).
They differ form traditional bookmakers in that they make their money by charging a commission on players net winnings. Bookmakers make their money by offering less efficient odds.
The commission rate differs between companies but ranges from 1.5% to 5%. Here’s a list of the most popular betting exchanges and their commission rates:
- Matchbook – 1.5%
- Smarkets – 2%
- Betdaq – 2%
- Betfair – 5%
Placing bets at a betting exchange is very similar to the process you use at a traditional bookmaker.
- Find the correct market
- Select whether you want to place a back or lay bet
- Enter your stake
- Place your bet
One of the most important aspects of a betting exchange is that you can place both back and lay bets. To differentiate between the two markets an exchange uses different colours.
Here’s the colour scheme Betdaq use:
Orange – Back markets
Green – Lay markets
The Smarkets colour scheme:
Green – Back markets
Blue – Lay markets
And the Betfair colour scheme:
Blue – Back markets
Pink – Lay markets
Matchbook use the same colours as Betfair.
You can find more information in our beginner’s guide to betting exchanges.
Back and lay betting outcome
As I mentioned above, these two bets (the back and lay bet) effectively cancel each other out leaving you where you started. This allows you to make a profit with zero risk involved.
Once the two bets have settled, you’ll have access to your free bet or bonus.
You repeat the same no risk betting technique, placing a back bet at the bookmaker and a lay bet at the betting exchange. Only this time you use your free bet and make a guaranteed profit in the process.
Sounds simple right?
If you don’t believe us, take a look at our infographic below – our six steps to no risk matched betting success.
How long does match betting take?
I understand that you guys don’t have hours on end to spend match betting. Therefore you’ll be glad to know that the process above doesn’t take all that long.
Seasoned matched bettors can complete a single offer in less than 5 minutes. That certainly makes it one of the most time-efficient ways to make money betting.
Whilst it may take beginners a little longer at first, you’ll soon get the hang of it.
By using a service like OddsMonkey, you’ll have access to various tools and software that will speed the process up no end.
Beginners out there may feel a little overwhelmed so far. Not to worry, in the next section I’ll walk you through an example from start to finish to show you how simple matched betting really is.
You can’t beat an example when it comes to explaining new concepts!
In this example, we’ll take advantage of Coral’s new customer promotion.
Coral offers new customers a £20 free bet when they sign up and bet £5.
This is an incredibly easy offer to complete and one that will help you get to grips with the basics of no-risk match betting very quickly.
You can follow the process below to help you complete your first offer.
In this example, I’ll be using OddsMonkey’s calculator and OddsMatcher. Both of these tools are available for free, you just need to sign up for a free trial.
Step 1 – Open new Coral account
So to kick things off you’ll need to open a new account with Coral. Click this link to register your new account.
Fill in the required information and set up your new account. I recommend you opt-in to marketing emails and messages to receive the latest offers which you can profit from with matched betting.
Step 2 – Place deposit
To complete this Coral offer, you need to deposit £5 into your new account. I suggest you use a debit card if possible. Other payment methods are available but may restrict you from certain free bets and promotions.
Step 3 – Change odds format
Before we move on to the next step, we’ve got one more thing to do. We need to change the odds format from fractional to decimal. You can do this by heading to ‘my account’ then ‘settings’ and ‘betting settings’.
Brilliant, so now we’ve set up the Coral side of things, let’s find a qualifying bet.
Step 4 – Qualifying bet
So the next step is to find a market to place our qualifying bet. This is where OddsMonkey’s OddsMatcher tool comes in handy. The software does all the work for us and shows us the most profitable matched betting opportunities.
You can access the tool by creating a trial account using the following link:
Open the tool and it should look something like this:
As we’re completing the Coral offer, we need to filter out all other bookmakers. You can do this at the top of the OddsMatcher tool.
The terms and conditions in the Coral offer state that we must use minimum odds of 1.5 to qualify for the free bet. So the odds in the ‘back’ section of the OddsMatcher need to be at least 1.5.
The most profitable offers appear at the top of the tool. I suggest you look for options with ratings as close to 100% as possible (without going over 100).
For your first few bets, I recommend looking for high profile football games. Premier League and Champions League games are ideal.
Once you’ve found a suitable market, click the little information icon in the tool. This should bring up the match information and calculator in a new window.
The tool will calculate the exact bets you need to place at both the bookmaker and the betting exchange. For this bet, you can leave the calculator in normal mode.
You just need to ensure that the Coral stake in the calculator is the same as your qualifying bet. So in this example, it will be £5.
At this stage, the calculator will likely show you a negative profit. Don’t let this alarm you. This is just the small qualifying loss in order to activate the free bet.
To make things easy the OddsMonkey calculator tells you exactly what bets you need to place.
Step 5 – Place your bets
Once you’re happy, it’s time to place your qualifying bets. Using the OddsMatcher tool, you can click the direct links which take you to the specific events.
Find the correct markets and double-check the odds are the same as in the OddsMatcher tool. Then go ahead and place your back bet.
The next step is to place your lay bet at the betting exchange. In this example, the match is with Betfair. If you don’t already have an account, you’ll need to register with Betfair at this stage.
This process is fairly self-explanatory. I suggest you deposit about £20 to cover your liability. Once again, I suggest you use a debit card as your preferred payment method.
Once you’re logged in, follow in the instructions in the calculator and place your lay bet. The calculator tells me I need to place a lay bet of £5.21 at odds of 1.49.
Now you need to wait for your bets to settle and you’re halfway to completing your first match betting offer!
Step 6 – Check your free bets
The next stage is to check that your free bets have been credited in your account. They may take a few hours to appear so patience is key here.
Coral display free bets next to your account balance in the top right-hand corner. Coral gives you four x £5 free bet tokens, totalling £20.
Note: I have three bet tokens available as I’ve already used one of them.
Step 7 – Free bet
The next stage is very similar to the steps mentioned above, only this time we’re using our free bets.
So we’ll head back to the OddsMatcher software and look for a new market with the same filters applied. For the free bet, we want to pick back odds that are higher. Around 7.0 is usually a great place to start. Bear in mind, this will increase your liability at the betting exchange.
You should look for opportunities with a SNR higher than 70%. Here’s an example with a SNR of nearly 82%:
Once you’ve found a suitable market, click the information icon and head to the calculator. This time you’ll need to select the free bet (SNR) mode.
The calculator will then work out your overall profit from the bet.
Awesome, that’s your first matched betting offer completed! Rinse and repeat the process above and you’ll be making a great second income before you know it.
As you can see, OddsMonkey has some brilliant tools available that significantly increase the potential of no risk matched betting in 2020.
You can try OddsMonkey for just £1 using the code ‘OM12FOR1‘
How much can you make with no risk matched betting?
So now you’ve seen the matched betting process in action, let’s look at how much you can earn with no risk matched betting.
As with most things, people often want to know the potential earnings before getting started.
As you can imagine, this is incredibly hard to determine and one figure isn’t going to be representative for everyone.
It totally depends on how much time you devote to no risk matched betting and how much money you make from each specific offer.
Having said that, most serious matched bettors earn in the region of £500 each month with more experienced bettors earning closer to the £1000 mark.
As you can see, match betting can be incredibly profitable. If you put in the time and effort and learn how to maximise your income you’ll be able to bolster your bank balance in no time.
For the time investment, match betting can be incredibly rewarding compared to other methods of making cash online. You can make more than £40 an hour when you know what you’re doing.
What’s more, no risk matched betting is completely tax free…
Matched betting is 100% tax free
In the UK, all gambling winnings are 100% tax free.
The Government get their cut directly from the bookmakers. Therefore, for matched bettors there’s no hassle dealing with the tax man as they don’t take any of our profit.
I don’t know of another method to make money online that is legally 100% tax free. I’d love to check it out if there is…
Long term profitability of no risk matched betting
Hopefully you understand that matched bettors take advantage of bookmakers sign up offers and promotions they use to incentivise new customers to open an account with them.
A typical offer looks something like this Ladbrokes promotion:
Ladbrokes offer a £20 free bet when you sign up and bet £5, similar to the Coral example from above. This is just one of many similar offers out there.
With the huge number of online bookmakers these days, there is plenty of profit to be made from sign up offers.
At the time of writing, there are hundreds of sign up offers matched bettors can profit from with a combined value of over £1200!
These ‘new customer promotions’ offer you the quickest bang for your buck and are incredibly worthwhile completing.
Unfortunately, they don’t last forever and they can only be completed once. But no need to worry, this is where reload offers come in.
Once you’ve completed all the sign up offers it’s time to move on to reload offers. These are promotions for existing customers who already have betting accounts open.
Once the bookmakers get customers signed up, their job isn’t over. They want punters to keep betting. Therefore they offer ongoing promotions to keep customers returning.
There are plenty of these offers available daily and this is where the long term, ongoing profit is made with no risk matched betting.
You’ll often find plenty of reload offers available on large, popular sporting events around the world. Such things as the Football World Cup are great examples.
There are different types of reload offers out there but using matched betting you can profit from a lot of these promotions.
OddsMonkey does a great job of finding the latest reload offers for you to take advantage of. They display them in their daily offer calendar which is available to all OddsMonkey premium members.
All in all, matched betting is a great option for those looking to earn a little extra money or a full time income from the comfort of your own home.
Once you get the hang of sportsbook offers, you can then move on to casino and bingo offers. Though there are less offers readily available, there’s still plenty of profit to be made.
Matched betting in 2020 and beyond
One of the questions we get asked a lot is whether matched betting in 2020 is still worth it.
Individuals are often unsure about the longevity of no risk matched betting and potentially how the bookies have clamped down on matched bettors and those taking advantage of their promotions.
The bookmakers use incredibly sophisticated technology to track the behaviour of their users and it’s unrealistic to assume they can’t spot matched bettors.
However, it’s in their interest to keep users active and placing bets on their platform. As long as something’s in it for the bookmaker, they’re happy.
Whilst it’s fair to say matched betting has changed a lot in the past 5 years or so, it’s a myth to say matched betting is no longer profitable.
As we’ve already discussed, matched betting is still the number one method to make money online and it’s arguably more profitable than ever.
I can only see this trend continuing in the future.
Is matched betting legal?
For some of you out there, match betting may seem too be good to be true. And we’re often told that when something seems too good to be true, it often is.
This begs the question is matched betting legal in the first place?
You’re probably thinking you can’t make money betting unless you happen to pick the right horse or team on one occasion.
However, matched betting is not gambling and this process is completely legal. As I explained earlier, matched bettors follow a proven strategy where nothing is left to chance.
Here’s what Graham Sharpe from William Hill said about matched betting:
‘There’s no illegal element. It’s a free bet and you can do what you like.’
There you have it…
No more worrying about whether this is a legitimate way to make money online. For more information the legality of no risk match betting, check out this article.
No risk matched betting top tips
Now for a few top tips to increase the profitability of your no risk matched betting in 2020:
- Double check everything
- Use Betdaq betting exchange
- Use multiple bookies
Let’s look into these tips in more detail.
Double check everything
Double checking everything is one of the most important tips I can recommend in 2020. There are quite a few moving parts to match betting and it’s therefore necessary to check for any mistakes on a regular basis. One error in calculation could prove costly.
Here are the things I suggest you check:
- The matched betting calculator when entering any figures
- Your bet slip before placing any bets
- Your placed bets
As well as checking for mistakes, it’s also important to check the bookies terms and conditions. Each promotion typically comes with pages and pages of jargon filled small print that most bettors don’t bother reading.
This can be a costly mistake and whilst reading the T&Cs is a boring and tedious process, it’s likely to save you a lot of money.
This is all taken care of when you use a matched betting site like OddsMonkey. All the hard work is done for you meaning you can spend more time placing matched bets and making money.
Use Betdaq betting exchange
Picking a betting exchange is an important part of no risk matched betting in 2020. It has a direct impact on the amount of profit you make.
There are a number of options out there, however, most bettors usually choose between Betdaq and Betfair. Both have their pros and cons but I like to use Betdaq.
Thanks to their low commission rate, using Betdaq as your preferred betting exchange is one of the easiest strategies you can employ to maximise your profit from no risk match betting.
As I mentioned earlier, Betdaq charge a flat commission rate of just 2% which easily beats Betfair’s 5% rate.
For ease of use and functionality, I also prefer their platform to their competitors.
Use multiple bookmakers
Another important matched betting tip is to use as many bookmakers as possible.
By this I mean take advantage of as many different offers and promotions as you can. As we’ve seen, there are hundreds of online bookmakers all offering their own incentives. The more you can take advantage of, the more profit you’ll make.
As simple as that…
Furthermore, the wider you spread your bets, the more likely you won’t have any problems with account gubbings etc.
Fancy more match betting tips? Check out this article.
Matched betting made easy
As you probably understand by now, there’s quite a bit to no risk matched betting.
There’s different concepts to get your head around and a whole heap of new tools and software for you to use. However, don’t let that put you off.
There are many different matched betting sites out there all aiming to help you increase your profitability whilst keeping the process as simple as possible.
They provide you with all the tools and information you need to succeed at matched betting no matter where you’re starting from.
Why sign up with OddsMonkey?
One of the most time consuming parts of manual matched betting (going at it alone without any help) is finding the latest offers to take advantage of.
With so many bookies out there and countless websites to check, this is a process best left to the experts.
That’s why OddsMonkey does it all for you.
They have a crack team of matched bettors constantly scouring the internet for the latest and greatest offers for you to take advantage of.
Their team of experts then add the offer to the members area along with advice on how best to tackle the offer in question.
Along with this brilliant service, you’ll also have access to the following:
- Dedicated tools and software
- Best matched betting support in the industry
- More advanced matched betting methods
And much much more…
What you need to get started
There are a few requirements before you can get started with no-risk matched betting.
We’ve outlined them in the list below:
- You must be at least 18 years old
- You’ll need to have a reliable Internet connection
- Your own personal bank account
- You’ll also need proof of a UK address
Don’t worry if you don’t have a clue about sports or betting in general, I didn’t when I started matched betting.
Start matched betting with OddsMonkey
So you want to get started with OddsMonkey and no risk matched betting? You’ve made a great decision…
You can sign up for a free trial using the link below.
That’s it for today’s article on no risk matched betting, thanks for reading and good luck.
What are your thoughts of no risk matched betting? Let me know by leaving a comment below right now.