Beginner's Guide: Matched Betting

Background

Matched Betting is the online phenomena that tens of thousands of people have been using for years to make risk-free profits from bookmakers. It is a way to make money from the promotions and bonuses that online bookmakers offer.

Since 2010 it has been featured on Wikipedia, Huffington Post, The Telegraph, Save The Student, Martin Lewis’ Money Savings Expert, and NetMums.

Huffington Post - Matched Betting
Huffington Post
The Telegraph - Matched Betting
The Telegraph
NetMums - Matched Betting
NetMums
Wikipedia - Matched Betting
Wikipedia

Matched Betting Popularity

Matched Betting has been popular for well over a decade, but it has really come into the mainstream since 2014. To visualise this we can see the Google Trends of it for the past 5 years:

1. What is Matched Betting?

Matched Betting is the method of using simple maths to extract risk-free money from online bookmaker bonuses.

In this guide, you’ll find out which are the most reputable services and which are best placed to help you join the tens of thousands of other matched bettors who are sweeping up thousands of pounds in extra income per year.

OddsMonkey is just one of the service providers who teach it to the thousands who have joined their community. Check out their promotional video which explains how matched betting works:

2. Who Does Matched Betting and How Do You Use It Yourself?

Students use it to pay their living costs at Uni, stay-at-home mums use it to make an extra income in their spare time and the financially savvy use it to grow their wealth. Then there’s those who dream of making an online second income to help pay for those little extras in life such as dream holidays or a new car.

At the start, I used it for simple stuff like paying my rent, then when I made more I, eh, ‘invested’ in a PS4, HDTV, new Macbook Pro and a new car. Ok, maybe ‘invested’ is the wrong word – let’s go with ‘indulged’.

At times though, it really has been my sole income – particularly when I was between jobs. I hate the 9-5, so I used it to live on whilst I figured out what I really wanted to do in life.

Financial Freedom Quote - Suze Orman

3. What Does Wikipedia Say About Matched Betting?

What better site to explain what it is than everyone’s trusted research friend Wikipedia:

“Matched betting (also known as back or lay bet matching, or double betting) is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance.”

Source: Wikipedia – Matched Betting

This is done by taking advantage of the bonuses and promotions offered by bookmakers such as Paddy Power, William Hill, Coral, Ladbrokes, Bet365 and many more.

4. Why Do Bookmakers Have These Bonuses and Promotions?

Quite simply it is due to increased competition. The offline tactic of bookmakers is to open lots of stores and soak in all the gamblers in the local area. But online it’s different, they’re all on a level playing field so they must work harder to entice customers like us to sign up to them over their rivals. They do this by offering generous free bet promotions upon sign up and keep customers coming back with what are known as ‘reload offers’.

Sign-Up Offers

Bookmakers offer free bets upon sign up run to entice customers to choose to their site over their competitors. Nearly every one of the 100+ online bookmakers and casinos offer these meaning lots of opportunities to profit.

Paddy Power New Customer Sign-Up Offer

Paddy Power New Customer Sign-Up Offer

5. What Do Bookmakers Think About Matched Betting?

You won’t be surprised to know that they’re not the keenest on it, for obvious reasons. I’ll give you two of the main ones:

  • You’re mopping up enormous value and guaranteeing yourself a profit in both the short and long term
  • It gives realisation to real gamblers that there actually is a way to beat the bookies.

However, you must acknowledge just how big the gambling industry is and compare it to the amount of people who are matched bettors. We’re a tiny pool of smart, savvy people that make only a tiny dent in the bookies overall humungous profits.

They can’t stop it and most of them just live with it. For example, William Hill were asked by The Guardian about it back in 2010 and said:

Graham Sharpe of William Hill Matched Betting Quote - Telegraph

(Source: www.telegraph.co.uk/Is-this-a-bet-you-cant-lose)

6. Does Matched Betting Really Work?

Yes. Tens of thousands of people have been making lots of money from it for years now – in fact, it was written about in the Guardian in 2010, as seen above. It particularly exploded from the end of 2015 onwards due to new matched betting communities such as Profit Accumulator and OddsMonkey popping up.

I personally started matched betting in 2014 after a friend told me about it and I immediately seen the potential. I had never been a gambler up until around 4 months before when I had just started betting with Bet365 (following those Facebook pages that promised £25-£1000 challenges – that never won!) and had lost around £300 in that time. I recovered that £300 and more within 3 weeks by signing up to Mike Cruickshank’s Bonus Bagging service.

7. Before You Start…

Most people think Matched Betting is a scam when they first hear about it.

Unfortunately for them, they’re the ones who lose out on the substantial second income it can provide.

You don’t want to be one of them, do you? 

If you do, then there’s no point in reading on further, it’ll just be a waste of your time.

In the following paragraphs, I will tell you HOW the process of Matched Betting works. It may sound like a lot of hard work, but it’s not. Thankfully there are dedicated service providers and communities out there that do all the hard work for you in providing detailed written and video instructions on how to extract this money.

We have compared only the very best ones on this site and you can find out more about them by viewing the summary table in the next section.

8. Who Can Help Me Get Started with Matched Betting?

Let me put your mind at ease – you don’t need to worry about how to do it.

A lot of the hard work is done for you by service providers such as Profit Accumulator, Profit Maximiser and OddsMonkey. There are also a few more out there such as Profit Squirrel, MatchedBets, Profit Squad, Profit Ninja and Bank of Bets who have recently jumped on the matched betting bandwagon as the phenomenon caught on.

As well as this, there are some free groups however I find they’re a waste of time due to their lack of resources. They seem to be frustrating experiences and it definitely holds the people in them back from their profit-making potential. It’s simple: if you want something done right then sign up to a paid-for service, the yearly subscription will be recouped within 2 weeks anyway.

Currently we have reviews of the top 3 market leaders:

Profit Accumulator

Profit Accumulator Twitter Logo

Since launching in 2014 Profit Accumulator has seen a remarkable growth and is currently the largest matched betting community out there with over 20,000 members.

OddsMonkey

OddsMonkey Logo

Previously just a software provider for its two main rivals since 2011, OddsMonkey developed their own service platform in 2016 and has proved a massive hit with their customers.

Profit Maximiser

Profit Maximiser Logo from Website

Profit Maximiser is the original community that popularised matched betting. It has made tens of thousands of people a generous 2nd income since it was launched in 2013.

Why are these the top 3? Well, because they’re the services that have been around the longest and have grown huge communities of very happy customers. Profit Maximiser was the first in 2013 and Profit Accumulator arrived on the scene in 2014. OddsMonkey only launched their matched betting service in 2016 but had previously been a software provider for both their rivals.

ServiceProfit AccumulatorOddsMonkeyProfit Maximiser
Launched201420162013
Price£17.99 per month, £150 per year£15 per month, £150 per year£116.40 per year
Free Trial Details2 Bookmaker Sign-Ups - Earn £452 Bookmaker Sign-Ups - Earn £4530-Day Trial of Service for £1
Potential Profit From Sign-Up Offers58 Sports Bookmaker Sign-Ups - Earn Around £1,22753 Sports Bookmaker Sign-Ups - Earn Around £1,19228 Sports Bookmaker Sign-Ups - Earn Around £734
Training and SupportComprehensive - Over 70 Written and Video GuidesOutstanding - Over 100 Video and Written GuidesOutstanding - Over 130 Video and Written Guides
CommunityOver 20,000 Members on the ForumOver 5,000 Members on ForumOver 7,000 Members on Private Facebook Group
Daily ReloadsOffers Posted on Forum, Weekend EmailsDaily Calendar, Rare EmailsDaily and Monthly Calendar, Weekly Emails
Software Included in SubscriptionOddsmatching Software, Accumulator SoftwareOddsmatching Software, Accumulator SoftwareNone
Website Design and User InterfaceModern, sleek, easy to navigateModern, sleek, easy to navigateDated, easy to navigate

Profit Maximiser is the cheapest yearly subscription at £116.40, OddsMonkey and Profit Accumulator both cost £150 for an annual subscription.

Profit Maximiser comes with a 14-day trial which you can try for just £1. Click here to try it now….

9. What Will Happen When I First Sign Up to a Service?

Whenever you first sign up to a matched betting service you will go through these first 2 stages:

1. Training and Completing Bookmaker Sign-Up Offers

Once you sign up to a service you’ll have access to their tutorials in the form of written instructions and video guides about how Matched Betting works and how to complete a raft of bookmaker sign-up offers. Completing these sign up offers will make you some great, easy profits (over £1,000 if you’ve never opened a bookmaker account before) – but it’s suggested that you keep most of this money in order to bankroll your exploits. This is because after you complete the sign up offers you’ll be able to take advantage of matched betting on a daily basis through what are known as reload offers.

2. Reload Offers

The real hard work that these services do for their members is sourcing and posting the offers that bookmakers promote daily – these are known as ‘reload offers’. These are usually posted on a calendar or in a forum and members are given instructions on how to make the most money from them. This is where you make the consistent profits all year round.

Reload Offer

Regular promotions that bookmakers run to entice current customers return to their site over the competitions. For example, Bet365’s £50 In-Play offer.

Bet365 £50 In-Play Reload Offer

Bet365 £50 In-Play Reload Offer

Personally, I have been a Profit Maximiser member since 2014 and upgraded to the full-suite package of ‘Betting Mastermind’ in 2015, this gets me access to all of Mike Cruickshank’s products for life. I’ve also signed up to Profit Accumulator and OddsMonkey too for reviewing purposes.

10. How Does Matched Betting Work?

The simplest form of matched betting takes place in the space of two parts – 1) A qualifying bet and 2) A free bet.

You’ve all seen the ads on TV in which a bookmaker promotes their new customer offer of “Sign-up with us and bet £10 and we’ll give you £30 in free bets!”. But how do we as matched bettors make our risk-free cash from this?

Betfred Sign-Up - Bet £10 and Get £30 in Free Bets

Betfred Sign-Up – Bet £10 and Get £30 in Free Bets

Well, what we do is sign-up to the bookmaker, deposit our £10 and place it on a selection – (this is known as a qualifying bet) so we can qualify for the £30 free bet the bookmaker is offering. We will then use this £30 free bet in the second part of the process to make some risk-free money.

This fantastic tutorial video from OddsMonkey shows how to extract £24.98 profit in less than 15 minutes from this process:

OddsMonkey

OddsMonkey will teach you how to make thousands of pounds in extra income a year through a simple, proven method that has been used to outsmart the bookmakers for years. There is no better edge in betting than using a matched betting service like this.

Take action with the initial sign-up offers and you’ll have the yearly subscription made back within a week with this life-changing service.

11. Further Info: Why Do Matched Bettors Use Decimal Odds?

Decimal odds are used in matched betting as this is the way odds are displayed on betting exchanges. Changing your ‘Odds Display’ format on the bookmaker websites also to Decimal Odds makes it much easier to read and compare odds.

For more information, and to see our Fractional Odds to Decimal Odds Conversion Table, just click open the accordion below.

Bookmakers traditionally display their odds in fractional format, however when you use a Betting Exchange such as Betfair or Smarkets you’ll notice the odds are in a different format entirely. These are called decimal odds and have become more popular over recent years – likely due to the rise in popularity of matched betting.

For matched betting, changing your display settings on bookmakers to decimal odds will greatly help in reducing the time it takes for you to figure out if the odds you are looking at between the bookmaker and the betting exchange are a good match or not.

FractionDecimalFractionDecimalFractionDecimal
1/101.101/1 (Evens)2.005/16.00
1/91.1111/102.1011/26.50
1/81.126/52.206/17.00
1/71.145/42.2513/27.50
1/61.1711/82.387/18.00
1/51.206/42.5015/28.50
2/91.2213/82.638/19.00
1/41.257/42.7517/29.50
2/71.299/52.809/110.00
3/101.3015/82.8610/111.00
1/31.332/13.0011/112.00
4/111.3685/403.1212/113.00
2/51.4011/53.2014/115.00
4/91.449/43.2515/116.00
1/21.5012/53.4016/117.00
8/151.535/23.5018/119.00
4/71.5713/53.6020/121.00
8/131.6211/43.7525/126.00
4/61.673/14.0033/134.00
8/111.7310/34.3340/141.00
4/51.807/24.5050/151.00
5/61.834/15.0066/167.00
10/111.919/25.50100/1101.00

12. Sounds Easy, Doesn’t It?

Ok, I know for newbies it may sound slightly complex – but it’s not, it’s just because it’s a new concept you’re maybe only hearing about for the first time.

Like all the good things in life it requires a little bit of effort at the beginning whilst you learn the ropes. But there are many matched betting service providers and communities which give you step by step instructions when beginning.

In fact, they really couldn’t make it any easier.

Once you’ve done one process a couple of times it’ll become second nature and the idea of making money online will never have seemed any simpler.

A betting exchange is a platform that allows peer-to-peer betting. This means that when you place a back or a lay bet then there will be someone on the other side accepting the odds you’ve placed your bet at. For example, if you back a horse to win a race on Betfair Exchange then there is someone on the other side who has matched your bet with a lay bet to say that the horse you’ve chosen won’t win the race.

Betting Exchanges are popular for the following important reasons:

  • As it’s peer-to-peer betting the odds are usually much better than bookmakers
  • Bookmakers have a reputation for restricting or banning winning punters – they don’t want people straight up betting and winning money. With a betting exchange, you will never get banned for winning

There are 4 main betting exchanges. These are: Betfair, Betdaq, Matchbook and Smarkets. Matched Bettors mainly use one of either Betfair or Smarkets. Betfair because it is the biggest and most well known Exchange and Smarkets because it has a more favourable commission structure for users.

Click here to sign up to Smarkets and get a £10 Welcome Bonus.

BetfairSmarkets
Main PositiveEasy to navigate user interface2% Commission
Main Negative5% commission which will eat into your profits in the long termThe user interface is not quite as intuitive as Betfair
Key Info for Matched BettorsOften used by people new to matched betting due to its global reputationOften used by matched bettors who have become familiar with how betting exchanges work due to the extra money made with Smarket’s lower commission
Commission5%2%

14. How Much Money Do People Make from Matched Betting?

It really depends on how much action you want to take. Mike Cruickshank’s Project Prosperity training (available through Betting Mastermind) will show you how you can grow a £500 bankroll into £15,000 in 8 months by matched betting for just 1 hour a day.

Do I think this is possible? Yep, no doubt it is – Mike has been the grandmaster of matched betting since 2011 and has all the refined techniques and methods to help anyone make this sort of money.

Personally, in my first year I made around £8,000. In my second year, it was around £20,000. Many people aim for between the £5,000 – £10,000 bracket in their first full year. By doing the sign-up offers that the services give you tutorials to, there is at least £1,000 profit waiting on the table for you to get started with.

Betting Mastermind

with Free Project Prosperity Training

This is no ordinary tool. It is a serious weapon of matched betting destruction that the bookies don’t want you to know about. The pinnacle of Mike Cruickshank’s work, this all-in-one package will provide you with risk-free returns for years to come. 

Betting Mastermind will likely be the best investment you ever make.

15. OK, I’m Getting the Hang of This – Which Service Do You Recommend?

Use the table in the next section below (Section 16) to see where your level of knowledge around betting and betting exchanges fits in.

I personally started with Bonus Bagging and progressed to Profit Maximiser (which I made over £8,000 from in my first year) and now own lifetime access to all of Mike Cruickshank’s services through Betting Mastermind (which now comes with free Project Prosperity training).

Betting Mastermind which is a behemoth, all-encompassing service that helped me make over £21,000 in the first 10 months of use. (If you think that’s good then wait ‘til you see the guy who made over £100,000 in 18 months using Betting Mastermind – see below)

However, you don’t have to use this one. There are also Profit Accumulator and OddsMonkey who have come along in the past few years with fresher looking websites that appeal to people a bit more.

£100,000 in 18 months from Using Betting Mastermind
£100,000 in 18 months from Using Betting Mastermind

16. Which Service is Right for Me?

Just use the table below to choose what level best describes you and look to the right to see which service suits you best:

Which Best Describes You?Service Which Suits YouReason You Should Use It 
Complete and utter newbie who has never even placed a bet beforeBonus Bagging

Read the full review
Perfect for beginners who have never used a bookmaker website.

Has a £1 trial so you can dip your toes in first and receive literal step by step instructions to make your first £360-£430.

(Get the £1 Trial Now)
I’m a regular punter but have never used a betting exchange beforeOddsMonkey

Read the full review
Nicely designed website with outstanding user experience in terms of training and support.

(Sign-up to the free version and earn your first risk-free cash of up to £45)
I understand value betting or have used a betting exchange for sports tradingProfit Maximiser

Read the full review
The original matched betting provider that has a wealth of experience. If you want more substance in order to make more money and don’t mind the style then PM is for you.

(Get the 14-day trial for £1)
I understand matched betting and really want to make some seriously life-changing moneyBetting Mastermind (with free Project Prosperity training in which Mike shows you how to turn £500 into £15,000 in the space of 8 months)

Read the full review
As a weapon of matched betting destruction it’s the tool that bookies do not want you to get hold of. Access to Mike Cruickshank’s Betting Mastermind (with free Project Prosperity training) will seriously change your life.

Click here if you are serious about taking the opportunity Matched Betting presents.

17. Is There an Even More Advanced Level?

Yes. You can reach this in two ways – by using some separate products such as Each Way Sniper and doing accumulator matched betting  – which services like Profit Accumulator and OddsMonkey will also teach you to do. However, if you really want to take it to the ultimate level then Betting Mastermind with free Project Prosperity Training which takes you from £500 to £15,000 in 8 months (for more info see the table below) is where it is at. It holds access to a unique range of 8 software and 2 sports trading systems.

Check out our full review of Betting Mastermind here.

Betting Mastermind and Project Prosperity £15,000 Table
Betting Mastermind and Project Prosperity £15,000 Table

18. Is Matched Betting Definitely Legal?

If it wasn’t then so many people wouldn’t be doing it. Nor would Huffington Post, Save The Student and Martin Lewis’ Money Savings Expert be writing articles and guides about it. Think about it – would a website as reputable as the Huffington Post give out duff information like this? They’d get in a lot of trouble if they were lying about this sort of thing.

19. Do I Have to Pay Taxes on My Matched Betting Earnings?

You’ll be glad to know that all earnings from matched betting are entirely tax free! 

In fact, let’s just see what Wikipedia has to say on the topic:

Matched betting, along with all other betting, is tax-free in the UK.

Source: Wikipedia – Matched Betting

20. This All Sounds Too Good to Be True – What Are the Downsides?

Matched Betting is not a scam or a con. It is a legitimate way to make a tax-free second income online. Serious downsides include:

  • Being able to afford the things you want
  • Having spare cash at the end of the month
  • Not worrying about having to pay your mortgage bill or rent for the month
  • Booking that dream holiday

… all on the bookies!

Seriously though, if you ask anyone who has done matched betting they will be hard pushed to give you a negative.

It has been a life changing experience for myself, my mates and everyone on the services we use. Speaking for myself and my friends, we’ve had a better income than what we would if we were to work regular jobs and have therefor been able to invest our extra earnings. Some friends have bought second houses, whereas I’m currently using mine to live on and invest into cryptocurrencies like Bitcoin whilst I pursue my current dream of learning new skills such as sports and cryptocurrency trading.

Whilst everyone else has been feeling the squeeze due to higher living costs and stagnant rates of pay us matched bettors haven’t had the anxiety that surrounds that – something I’m very grateful for.

21. How Long Will This Last For?

No one can say for sure. Matched betting has been going on for well over a decade, but it has adapted along the way as bookmakers became wiser to what people were doing. The landscape of matched betting is far different now than what it was when it first began.

However, if you don’t take advantage of it now you may come to rue the day when you thought about taking action, didn’t do it and missed out on a lot of extra income that could have been spent improving your lifestyle.

22. Final Thoughts

The reason I’m so passionate about this is because of the immense amount of good it has done in my life and how much I have seen it provide financial freedom to other people. I’m so thankful my friend told me about it and I was happy to take the chance – if I hadn’t my life would look much different right now and I have no doubt I’d have struggled financially over the past few years.

Warren Buffett Quote

23. FAQ

Is It Tax Free?

Yup! As it is technically winnings from gambling the profit is all yours.

Is Matched Betting Still Profitable?

Yes. Even though it evolves over time as bookmakers try to shake us off they will always have to offer promotions and bonuses while they can still get new customers on board.

Casino Offers – How Do They Work?

Casino offers are not quite risk free. In fact, if you were to do 100 casino offers it would be likely that you would lose money on between 80-90 of the 100 attempts. But due to two basic maths principles – 1. The Law of Large Numbers and 2. Estimated Value – in the other 10-20 attempts you will make a profit that outweighs any losses you have. For more information here is a YouTube video that explains this concept excellently:

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