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Matched betting tutorial / Follow up bets

Posted by Pinterestgems | Posted in | Posted on 1:37 PM

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Follow up bets

So, you have placed your initial bet and now have your free bet in your account. Now what?

You now need to place a "follow up bet" to turn the free bet into guaranteed withdrawable cash profit.

This involves placing a bet with the free bet and laying it off in betfair similar to the initial bet.

There two types of follow up bet depending on the type of free bet you have aquired. It is important to understand the concept behind the two types before going ahead with the follow up bet.

The STAKE RETURNED (SR) free bet and the STAKE NOT RETURNED (SNR) free bet.

Stake returned free bets

When you place a bet with an SR free bet and the bet is successful the actual free bet stake is returned along with the winnings, just like when placing a bet with your own money.

For example: If you place a £20 SR free bet at odds of 3.00 you will return £60 (£20 x 3). Simple.

Stake not returned free bets

When you place a bet with an SNR free bet and the bet is successful, the winnings from the free bet are returned but not the actual free bet stake.

For example: If you place a £20 SNR free bet at odds of 3.00 you will return £40 (£20 x 3 - £20).

You will find out which bookmakers offer SR and SNR free bets on the bookies list (coming soon).

Placing a follow up with a stake-returned free bet

If you have a £20 stake-returned free bet with a bookmaker, the follow up bet can be very similar to the initial bet.

Simply find a market and look for the lowest odds allowed. (Bear in mind that some bookies state in their terms and conditions that the free bet must be placed at certain minimum odds. You will also find out this information in bookies list. Let's say for example you find a match between Liverpool and Derby where the odds on Liverpool to win are 1.20.

Now, that you have found a potential market, find the same match in betfair and look for the LAY odds for this outcome. Lets say that Livepool are at odds of 1.25 in betfair. This seems reasonable so you can enter the amounts on your matched betting spreadsheet to calculate the possible outcomes.

As you can see:

If Liverpool win you make £24 in the bookie (£20 x 1.2 - remembering you keep the free bet stake) and lose the £5 liability in betfair.

If Derby win or its a draw you make your lay stake of £20 in betfair, minus betfair's 5% comission, leaving you with £19 and lose nothing in the bookmaker as it was a free bet!

Placing a follow up with a stake-not-returned free bet

Now with a SNR free bet, as you may expect, it is a little more tricky. Because the free bet stake is not returned in the winnings, we need to use higher odds so that if the free bet wins, there is more profit. Look for odds of between 3.00 and 6.00 in the bookmaker. There are two factors that affect your profit yeild when placing a stake-not-returned follow up bet:

The odds - using higer odds increases the profit you will make but also increases the amount you need in betfair to cover the liability.

The closeness of the match in betfair - as always, the closer the match in betfair, the more profit you make.

OK so to find a potential market, go to the bookmaker and look for odds of somewhere between 3.00 and 6.00. When you have found one, locate the corresponding market in betfair to see if there is a close match. Again, try and a few and use trial and error to find the closest match you can, entering the amounts in on the spreadsheet to calculate the potential outcomes, as in the example below. Lets say you find a football match between Arsenal and Barcelona where the odds on Barcelona are 4.5 in the bookmaker and the lay odds of 4.7 in betfair.

As you can see:

If Barcelona win you make £70 profit in the bookie:
(£20 x 4.5 - £20, remember you do not keep the free bet stake).You lose the £55.70 liability in betfair, leaving you with £14.40 profit.

If Arsenal win or its a draw you make your lay stake of £15.05 in betfair, minus betfair's 5% comission, which leaves you with £14.40. You lose nothing in the bookie as it was a free bet, thus making a withdrawable cash profit of £14.30 either way.

Tips:

Timing Your Bet

A few hours before a football match is the best time to do this. Any earlier and the markets at Betfair haven't really got going, any later and the markets can get quite volatile. You'll get a feel for the best time as you make more bets.

Preferred Outcome

Ideally you want to lose at the bookmaker every time. If you could do this, you could just keep piling up winnings in Betfair. If you win at the bookmaker you have to withdraw from them, then deposit it back into Betfair to cover your liability for your next bet. If you win at Betfair you'll have a balance of £0 at the bookmaker and don't have to do anything. It's not a major problem but if you have a choice of two equally good bets, and you think one is more likely to lose at the bookmaker, choose that one.

Matched betting tutorial / Initial bet

Posted by Pinterestgems | Posted in | Posted on 12:20 PM

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The initial bet

Step 1 - Opening the necessary accounts

Select a bookmaker of your choice from the list of bookies (coming soon!). Use the link on the bookies page to ensure you qualify for the offer, open an account & deposit the required amount to obtain the freebet. I recommend getting started with Skybet so the following example uses this bookmaker (although it usually asks for scan of your ID sent to them before aproving your acocunt). Click here to open an account.

You'll also need an account with an exchange in order to LAY off the bet. For most bets we will use Betfair so click here to open an account and use promo code FTB125 when registering. By doing this you will make £25 cash back!

Step 2 - Finding a suitable market in the bookmaker

Now, in order to decide what to bet on, you need to consider the offer. To take the above example of a £20 free bet, you now need to look at any conditions of the offer such as "minimum qualifying odds". This information can be found on our bookies page. For skybet there are no minimum odds so use the lowest odds you can find.

Try this now: In skybet, on the home page click Football then Premiership matches on the left menu. Look down the list for the lowest odds. In the example below the lowest odds are 1.44.

Step 3 - The risk free bit - calculating the lay stake in betfair

Now check if the lay odds in betfair are a close enough match to lay off your bet. Find the same match in betfair:

e.g. go to Soccer Fixtures > *Date of the game* > Middlesborough v Derby > MATCH ODDS.

You will be presented with the following screen displaying the back and lay odds for each outcome. The outcome we are interested in here is Middlesborough, so look at the LAY odds.

If you see a reasonably close match, you can use this Matched Betting Calculator to calculate the necessary lay stake.

Enter: £20 for the bookmaker stake

1.44 for the bookmaker odds (as in skybet)

1.51 for the lay odds (as in the pink box in betfair.

By entering these amounts into your spreadsheet, the figured below will be calculated as shown.

The amount you need to lay in order to back up your stake.

The amount you need in betfair to cover the liability.

The acceptable loss you will incurr in order to obtain the free bet.

As you can see if Middlesboro won you would make £8.80 in skybet and lose the £10.06 liability in betfair.

If Derby won or it was a draw you would make £18.74 in betfair (your lay stake minus betfair's 5% comission and lose the £20 deposit in skybet.

This leaves you with an acceptable loss either way of £1.26

Step 4 - Placing the bets

Have a look around a few games, using trial and error to find the lowest acceptable loss.

Once you have found one that you are happy with, you can now place the bet in both the bookmaker and betfair.

In skybet, tick the Middlesborough box and press "Bet Now" and proceed to stake the £20.

In betfair, click the PINK box corresponding to middlesborough and type in the calculated lay stake in the box on the right. This will show the liability and should match the amount calculated on the spreadsheet as below.

Submit and confirm the bet. When the game has ended, the winnings will be credited to either betfair or skybet, depending on the result and you will return your total stake minus the acceptable loss as calculated.

You will also be credited with the £20 free bet.

Matched Betting Explained

Posted by Pinterestgems | Posted in | Posted on 2:06 PM

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Earning money online from matched betting can be a very lucrative profession, if not quite a dull one. But I find it interesting and most profitable of any I have seen before. Matched betting involves visiting online bookmaker websites and opening up betting accounts. You then make a bet to qualify for another free bet or bonus, and you match this bet by making a lay at an online betting exchange. Therefore you make this first bet at the account at no risk, so you don't lose any money. Then you qualify for the free bet or bonus, which you do the exact same thing with, and in doing so you end up with the free bet or bonus as profit. After taking advantage of one free bet or bonus at the online bookmaker site, you move on to the next bookmaker. There are thousands to join and take advantage of, and so you have a consistant income of money thanks to all the bookmakers and offers available today.

Understanding The Matched Betting Theory

Probably the hardest part of matched betting is getting your head around the actual concept behind the scheme. As mentioned before, you are making bets with newly registered bookmaker accounts, which qualify you for a free bet or bonus. For example, Sky Bet usually have a promotion for all new customers; bet £20 and receive a free £20 bet. So with this bookmaker you would sign up, make a £20 bet (which you lay off at an exchange) and so you qualify for the free £20 bet. You do the same with this, make the £20 free bet (lay off at the exchange) and in the end you will magically end up with £20 profit. The hardest part is explaining an exchange, and talking about how the bets are made with no risk.

Using Betting Exchanges

There are a few betting exchanges currently available online, with the most famous one being Betfair. At an exchange you can place bets as usual, but you can also lay bets. When you lay a bet, you are taking the place of the bookmaker. You are basically betting against an event happening, and at an exchange you set your odds and take other users money. Say you lay Man Utd to win the Premiership at odds of 2, and accept a £100 bet. If Man Utd win the Premiership, you have to pay out that users stake (£100) times by the odds (2) equalling £200. This is a loss of £100. However if Man Utd don't win the Premiership, you would get to keep that persons £100 bet stake. This is how online betting exchanges work; they allow people to take the place of a bookmaker, and this means they can accept money as stakes for bets from other online users.

Hopefully now you will understand how to make a bet with no risk involved. Imagine the £20 Sky Bet promotion mentioned earlier. If you sign up to Sky and then Bet £20, you get a free £20 bet. So if you were to place the £20 bet on Arsenal to beat Liverpool in a football match at odds of 3, and then you go to the betting exchange and lay Arsenal to beat Liverpool at odds of 3 with a stake of £20. This is a no-risk bet; if Arsenal beat Liverpool you win £60 (£20 bet x odds of 3 = £60). This is a profit of £40. At the betting exchange you would have lost £60 (£20 bet x odds of 3 = £60 payout). This is a loss of £40. The £40 profit from winning the bet will cancel out the £40 loss from paying out at the exchange. On a side note, if Liverpool draw or beat Arsenal then you lose the £20 bet at Sky Bet, but you get to keep the £20 punter's stake at the betting exchange. Again, this leaves you in exactly the same position as where you started. But now you know how to make a qualifying bet at no risk, and then when you get the free £20 bet with Sky Bet you do exactly the same thing. Use the £20 free bet on an event and lay the same event at the same odds (or as near as possible) at the exchange. No matter what happens, you will end up with the free bet as a profit - so in this instance you end up with £20 profit.

The whole process of matched betting is really hard to explain, but hopefully you have a good idea of how it works now. Remember that this is the hardest part of matched betting; getting your head around the concept. Re-read this article until it finally sinks in, and hopefully you will understand exactly what goes on. It is also very hard to explain that the idea of matched betting eliminates the complete gambling aspect involved in placing bets. Obviously you have to place bets at online bookmakers, and lay bets too, and so yes this is gambling. However they do not realise that you are gambling at no risk, whatever you win is opposed by whatever you will lose at the exchange. If you research matched betting you will realise that there is no risk involved in terms of placing the bets, and aslong as you are careful you can easily bring in a few thousand pounds profit in a months time from just a few hours work.

Disadvantages/Things To Watch Out For

Obviously there are some disadvantages to matched betting too in terms of earning money online as a job. You will need to be at least 18 years old, and own a credit/debit card. You will also have to learn about the idea of matched betting before rushing in, as obviously when placing bets there is a possibility of making human mistakes. Probably the biggest disadvantage of matched betting is that you need some money to start up with, probably around £50. This is for your liability at the betting exchange, as you will need this money in your account for when you have to pay out for bets lost at the exchange. Ideally you should start with around £100 or so, and the more money you start off with the easier you will find it to continue adding to this sum. The final disadvantage of matched betting is the fact that a lot of time is spent browsing bookmaker websites, comparing odds. When you make the no risk bet, you need to find odds to back an event at the online bookmaker website, and these odds need to be as near as possible as the odds to lay that same event at the exchange. The closer the figures then the higher the profit at the end of the day, and so it is quite important to spend some time looking for matching odds.

Thankfully there are Internet forums and services which can be used, where people post arbs or close odds (where the odds to back an event are higher then then odds to lay an event). Arbing is very similar to matched betting, but instead of going after bookmaker bonuses you are simply making high value bets at odds which lock in a profit. For example, if you were able to get odds of 3 on Chelsea beating Newcastle at an online bookmaker, but the odds to lay this event are only 2 at an exchange, a profit is there for the taking. Bet £1000 on Chelsea to win at the bookmaker, and then lay Chelsea to win at the exchange with £1000 and you will make a nice profit. If Chelsea win, you get £3000 back from the bookmaker and you have to pay out £2000 at the exchange; meaning a profit of £1000. If Chelsea lose then you lose the £1000 bet but you keep the £1000 lay made at the exchange. Arbing is for more serious betters, who have a good idea about betting and shouldn't be considered until you learn how to lay your bets and matched bet for profit.

Matched Betting

Posted by Pinterestgems | Posted in | Posted on 4:07 AM

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Matched betting is the technique of cashing out the free bet and bonus offers from bookmakers without risk by placing risk free bets. Risk free bets are calculated so that regardless of the result you break even on your initial stake in order to cash out the bonus.

Introduction :

Matched betting is the process of obtaining freebets from online bookmakers without risk and withdrawing them as profit.

This tutorial will give you an insight into matched betting with the aim that once completed you will have the necessary knowledge to place your first matched bet. The guide is designed for everyone’s needs so it does not matter whether you have experience of matched betting or are just starting out.

Meanwhile I suggest you to subscribe to Safebets news feed http://feeds.feedburner.com/safebets , to get the latest updates on how to make money with risk - free bets !