If, like many around the world, you found have investigated the different ways to add additional income sources to your life, you may have found yourself researching matching betting.
Match betting, also known a no-risk betting, is a low-risk gambling technique used to earn money from free bet offers from bookmakers. By using free or promotional offers alongside some basic analytical and mathematical skills, you can earn large amounts of “free” money.
Many people consider it a risky area where one should not enter, but it is free from any risk as the technique or approach used is purely mathematical and is not based on luck. Simply put, you can win many times in a row just by chance, but at some point, this will end. However, the idea of matched betting is purely based on mathematical equations and models. If you have a deeper understanding of mathematics, statistics, and probability, you have significant chances of winning and earning more money.
What kind of knowledge is needed?
There is a myth that you must have a basic understanding of sports if you are trying yourself in Matched betting. There is no direct or indirect connection between your depth of knowledge about sports and the outcome of your bet. You also do not need a deep understanding or experience of betting. If you have a keen observation, patience, and basic knowledge of manipulating numbers and figures you can do well.
You will need to understand the two terms: Back bet and Lay bet.
A back bet is the basic betting form of “I want to place a bet on this because I think they will win”. If they win, you go on to profit. A Lay Bet is the mirror opposite of a back bet in that you think “that this will not win”. If they do not win, you go on to profit. Even if the outcome is a tie, you still win as your lay bet simply said that they will not win – They drew, so you are still correct. So, you use both a lay and back bet to cover every outcome of an event.
Basic requirements for matched betting
First, you need money to make a bet. You cannot make a bet if there is nothing in your hand. The next thing you will need is a betting account, and it should be linked with two or more bookmakers, or you can link it with any betting exchange agency. If you have a betting account with bookmakers, you should ensure that one of them offers you a free bet. By doing so, whatever the outcome the amount you invested as a free bet will remain.
How much can you make from matched betting?
There is no fixed or certain amount that can accurately predict how much you will earn through matched betting. The earnings will vary from person to person, where the more experience you have, the more you can earn.
You can earn more if you invest more. And by investing more, I do not only mean in the sense of money, but also in the importance of investing your time and effort.
To give an estimated figure: Let us say you invest 5 hours on matched betting regularly, then you can earn up to £300 monthly on average. Start adding more hours and you can someone can make much more.
Is matched betting legal?
There are few countries where matching betting is legal, and fortunately, the UK is one of them. You should note, however, that while making a bet, try to do it at certified and registered bookmakers as there are some shady websites out there.
Who is eligible?
There is not an extensive list available for describing the eligibility criteria for matched betting. If you are over 18, you are pretty much eligible – It is why many students do it! Anyone from any profession or any background can make a bet as long as they are an adult – You need to open a betting account online, and you are done.
What websites are available for matched betting?
Many websites and software packages offer the service for matched betting, such as Oddsmonkey, Profit Accumulator, Profit Maximiser, and Matched Bets. It will help if you take a monthly, quarterly, half-yearly, or yearly subscription (depends on the availability of options and your choice) to register yourself in a related platform. Once you register by following the easy, step-by-step instructions and agreed to all terms and conditions, you are ready to make your first bet.
Approaches for matched betting
You can approach it in two ways.
- Assisted betting – This is where you agree to take assistance from any website or available software packages. This is sometimes referred to as “Auto matched”
- Manual betting – As the name suggests, all actions are performed by you. AI or any other technology is not used.
Matched betting is safe, legal, and tax-free so if you are living in the UK, over 18, and looking to make some extra income, why not try your hand in matched betting?
James Banerjee is an Account Director who graduated from the University of Kent in 2014. He works in SEO on clients such as HSBC UK and Nestle and he has a keen interest in personal finances and money-saving advice.