Matched betting is a technique used to guarantee a profit or take extra value from bookmakers special offers. The main mechanism by which matched betting works is through backing (betting for) and laying (betting against) selections to earn free bets, sometimes these offers can be risk-free (no losses incurred) or some may involve small qualifying losses in an attempt to earn a free bet of far greater value. We can then extract real cash from these free bets through a similar process, it’s usually possible to extract 80-85% of the value of the free bet in cash.
How much can you expect to make from matched betting?
How much you make from matched betting heavily depends on how efficiently you manage your time and how much time you spend looking for offers and actually taking part in them. Searching for current offers by yourself can be tough, there are so many bookmakers to check through who have multiple different offers every day. It can also be time-consuming to calculate whether there is value in an offer (whether the expected average profit from an offer is worth the time). Not every offer is actually positive expected value and as such, the terms and conditions of each need to be examined to work this out. We have made approximately €30,000 between us in the last two years, with the over €20,000 of that having been earned in the past year. Although profits tend to be about €750-1,000 per month, occasionally we’ve had some huge wins on casino offers and extra place races, while can really push up total profits.
There is easily €1,000+ available to be made just from the sign-up offers for various bookmakers. At the moment there are approximately €600 worth of signup offers for sportsbooks/exchanges, these are listed here. These sign up offers often take the form of Bet €X Get a €X free bet, these are some of the most profitable and easiest offers, as they simply involve depositing, for example, €30. We then place a bet on a selection at the bookmaker for €30 and lay the same selection off at a betting exchange (a website where you can essentially be the bookmaker, offering to take the bets of others). We may make a small loss due to the commission charged at the exchange and the different between the price we back at and lay at, but we have just earned ourselves a free bet! We can then back a selection using this free bet, and laying it off at the exchange to guarantee ourselves 80%+ of its value in cash.
Who is matched betting suitable for?
Anybody who would like to earn an easy extra income should definitely give matched betting a go, if for nothing more than the sign-up offers! Matched betting is one of the easiest ways to make a few extra euro whether you’re a student studying for their degree or you have a full-time or part-time job. You can work your own hours and how much time and effort you put in is totally up to you!
How much do I need to start matched betting?
Realistically, you’ll probably want to have at least €100 available to begin matched betting. Although it could be done with less, it would take you a long time to get going due to having to constantly wait for bookmaker withdrawals to be processed after completing offers. Start with the sign-up offers which don’t require large deposits and within no time you’ll have built your bankroll up to several hundred, allowing you to do many more welcome offers at one time. Some of the best and simplest offers to start with are the Coral and Skybet offers. Coral currently give new customers a €20 free bet after they make their first €5 bet! That’s an easy €15 guaranteed profit! Sky are currently offering a no-deposit €10 free bet, worth €8 profit, completely free! You can find a list of bookmakers available to Irish customers, as well as their sign-up offers on the ‘Bookmakers’ page.
What do I need to start matched betting?
As previously mentioned, you’ll want at least €100 to begin matched betting efficiently. In addition to this, you’ll be required to have an official form of identification (usually passport or drivers license), the Garda Age Card is not generally acceptable. Bookmakers will occasionally require copies or photographs of these documents in order to verify your age and identity so it’s handy to have them on hand.
You may also wish to create a new email account specifically for matched betting so that your persona email isn’t spammed with offers every day.
You’ll need a payment source to fund your accounts, you could use your bank account with a debit card, or you can send up an e-wallet such as Paypal or Skrill if you’d prefer (although not all bookmakers offer of these as deposit methods).
That’s all you absolutely need but signing up to a premium matched betting service such as Oddsmonkey or Profit Accumulator can drastically increase profits and efficiency. These services offer many useful tools such as the Oddsmatcher, which automatically searches for and finds selections with close back and lay odds (in order to minimise or eliminate qualifying losses). The forums on these websites are also an invaluable source of information on current offers and an area where members may discuss their experiences of matched betting. Oddsmonkey for example, charge a monthly fee of £15 (equivalent to approx. €18) or an annual fee of £150 but are worth hundreds of euro in profit to the average matched bettor every month. You can see our list of matched betting services on the ‘Services’ page, we recommend Oddsmonkey in particular as the best value service with many incredibly complex and useful tools for a reasonable price!