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Matched Betting Tutorial

This matched betting tutorial provides a basic introduction and walk through from start to finish. The idea is that after watching you should be able to rinse bookmakers and earn easy money. After reading this article you should understand:

Matched Betting Tutorial

This matched betting tutorial provides a basic introduction and walk through from start to finish. The idea is that after watching you should be able to rinse bookmakers and earn easy money. After reading this article you should understand:

  • Purpose of a bookmaker
  • Purpose of the betting exchange
  • Back bets
  • Lay bets
  • The two step process
  • Qualifying bet

  • Why backing and laying the same event is important
  • Two ways to find promotions
  • Why matched betting communities are very useful
  • How to find close back and lay odds
  • How to calculate lay stakes
  • How to calculate your final profit

  • Purpose of a bookmaker
  • Purpose of the betting exchange
  • Back bets
  • Lay bets
  • The two step process
  • Qualifying bet


  • Why backing and laying the same event is important
  • Two ways to find promotions
  • Why matched betting communities are very useful
  • How to find close back and lay odds
  • How to calculate lay stakes
  • How to calculate your final profit


By watching someone take an offer and turn it into profit you should learn the process much quicker than just reading about it. I hope to update the video with something a little better in v2 of this site. Drop me any questions in the comments section of youtube. A text description of the key points described in the video can be found below the video.


By watching someone take an offer and turn it into profit you should learn the process much quicker than just reading about it. I hope to update the video with something a little better in v2 of this site. Drop me any questions in the comments section of youtube. A text description of the key points described in the video can be found below the video.


Purpose of a Bookmaker & Betting Exchange

The Bookmaker and Betting Exchange are two different types of sports betting sites.
A bookmaker allows people to place bets on lots of different events. Mainly sports but also things like the winner of X-Factor or Strictly Come Dancing. You bet against the bookmaker so either you win your money back plus some profit or you lose and the bookmaker takes your money.

Using a Bookmaker or a Bookie as they are also called it is only possible to place back bets. A back bet on Liverpool to win is the same as saying I believe Liverpool will win. The key point here is you can only place back bets at a bookmaker.

I could place a bet on Liverpool to win a football match, but I couldn’t bet that Liverpool wouldn’t win. Sure, I could bet on their opponent to win, but that isn’t quite the same as betting Liverpool will not win. With Bookies, you can only bet on what you think will happen and not to what you think will not happen.

Purpose of a Bookmaker & Betting Exchange

The Bookmaker and Betting Exchange are two different types of sports betting sites.
A bookmaker allows people to place bets on lots of different events. Mainly sports but also things like the winner of X-Factor or Strictly Come Dancing. You bet against the bookmaker so either you win your money back plus some profit or you lose and the bookmaker takes your money.

Using a Bookmaker or a Bookie as they are also called it is only possible to place back bets. A back bet on Liverpool to win is the same as saying I believe Liverpool will win. The key point here is you can only place back bets at a bookmaker.

I could place a bet on Liverpool to win a football match, but I couldn’t bet that Liverpool wouldn’t win. Sure, I could bet on their opponent to win, but that isn’t quite the same as betting Liverpool will not win. With Bookies, you can only bet on what you think will happen and not to what you think will not happen.

Quick Tip:

When matched betting we use decimal odds. They are easier to understand. On bookie sites, you should change your odds setting to decimal using the settings section. Sometimes you can change the odds on the market pages via a drop down box.


Quick Tip:

When matched betting we use decimal odds. They are easier to understand. On bookie sites, you should change your odds setting to decimal using the settings section. Sometimes you can change the odds on the market pages via a drop down box.



You Could Bet That

Final_score
Liverpool_win
red_rum_win
matched_betting

You Couldn’t Bet That

Final_Score_not
LIverppol_not_win
red_rum_not_win
Matched_betting_over_2.5

You Could Bet That

Final_score

Liverpool_win

red_rum_win

matched_betting


You Couldn’t Bet That

Final_Score_not

LIverppol_not_win

red_rum_not_win

Matched_betting_over_2.5


Bookies = Back bet only.

At a Betting Exchange like Betfair or Smarkets, you can make a different kind of bet. It’s called a lay bet.


Bookies = Back bet only.

At a Betting Exchange like Betfair or Smarkets, you can make a different kind of bet. It’s called a lay bet.

Using an exchange you could bet that:

  • Final score will not be 2-0
  • Liverpool will not win
  • Red Rum will not win
  • There will not be over 2.5

MatchedBettingBibleBlue

Key points are:

Bookmaker = Back Bets [Will happen]

Exchange = Lay bets. [Will not happen]

A back bet and a lay bet are exact opposites of each other.

Importance of backing and laying the same event.
The profit made whilst matched betting make comes from free bets and cash bonuses. Nothing else.

Using an exchange you could bet that:

  • Final score will not be 2-0
  • Liverpool will not win
  • Red Rum will not win
  • There will not be over 2.5

MatchedBettingBibleBlue_contact

Key points are:

Bookmaker = Back Bets [Will happen]

Exchange = Lay bets. [Will not happen]

A back bet and a lay bet are exact opposites of each other.

Importance of backing and laying the same event.
The profit made whilst matched betting make comes from free bets and cash bonuses. Nothing else.


“Bookmakers are the lifeblood of matched betting, they provide the promotions we need to profit.  Without bookie promotions we don’t make risk free profit.”



“Bookmakers are the lifeblood of matched betting, they provide the promotions we need to profit.  Without bookie promotions we don’t make risk free profit.”


We need to jump through a few hoops to obtain free bets and bonuses that we can then turn into withdrawable cash. The key is that we don’t risk our hard earned money whilst acquiring free bets and bonuses. That is where backing and laying comes into play.

Let me show you that by combining a back bet with a lay bet at close odds they almost perfectly cancel each other out allowing us to eliminate risk. This technique is key to obtaining free bets without risking our own money.

We need to jump through a few hoops to obtain free bets and bonuses that we can then turn into withdrawable cash. The key is that we don’t risk our hard earned money whilst acquiring free bets and bonuses. That is where backing and laying comes into play.

Let me show you that by combining a back bet with a lay bet at close odds they almost perfectly cancel each other out allowing us to eliminate risk. This technique is key to obtaining free bets without risking our own money.

Quick tip:

Be sure that you meet all the terms and conditions of the promotion, if you don’t you will not get that juicy free bet! There may be minimum odds or minimum stake requirements. Reading T&C’s is time-consuming and very boring, that is another reason

I use a matched betting community who do that for me. They categorize and list every promotion worth doing (not all are) and include tutorials on how to turn it into easy money.


Quick tip:

Be sure that you meet all the terms and conditions of the promotion, if you don’t you will not get that juicy free bet! There may be minimum odds or minimum stake requirements. Reading T&C’s is time-consuming and very boring, that is another reason

I use a matched betting community who do that for me. They categorize and list every promotion worth doing (not all are) and include tutorials on how to turn it into easy money.


Let’s work through an imaginary sign up offer:


“Bookmaker: Paddy Power Offer: Bet £10 and receive a £20 free bet.”


The Qualifying bet

The idea is we get the £20 free bet without risking our £10 stake. This part is known as the qualifying bet.

Now that we have an offer to do, we need to find something suitable to bet the £10 on. For this we need to find an event that has close back and lay odds.

Use the odds finder at Profit Accumulator Use the drop down menu to select the bookie you are interested in, in our case Paddy Power.

Here is a screen shot of some odds finder search results for Paddy Power. They show our close back and lay odds are available for Manchester City v Leicester in the Match Odds Manchester City market.

Matched_betting_tutorial_0051

Next, we need to sign up, deposit and bet £10 with Paddy Power. Browse to the football match and check that the odds have not changed from those stated by Odds Monkey. Small changes are not a problem. A change from say 1.57 to 2.57 is a problem but a change from 1.57 to 1.60 isn’t. You’ll get a feel for it over time.

Open up a second browser tab. Visit Betfair and browse to the same football match. Check that the lay odds for Manchester City have not moved. Again small changes are ok.

It’s almost time to place some bets. The last piece of information you need is what amount to lay at Betfair. To calculate the lay stake use a matched betting calculator. The Profit Accumulator calculator is only accessible if you are logged in – accounts are free.

Let’s work through an imaginary sign up offer:


“Bookmaker: Paddy Power Offer: Bet £10 and receive a £20 free bet.”


The Qualifying bet

The idea is we get the £20 free bet without risking our £10 stake. This part is known as the qualifying bet.

Now that we have an offer to do, we need to find something suitable to bet the £10 on. For this we need to find an event that has close back and lay odds.

Use the odds finder at Profit Accumulator Use the drop down menu to select the bookie you are interested in, in our case Paddy Power.

Here is a screen shot of some odds finder search results for Paddy Power. They show our close back and lay odds are available for Manchester City v Leicester in the Match Odds Manchester City market.

Matched_betting_tutorial_0051

Next, we need to sign up, deposit and bet £10 with Paddy Power. Browse to the football match and check that the odds have not changed from those stated by Odds Monkey. Small changes are not a problem. A change from say 1.57 to 2.57 is a problem but a change from 1.57 to 1.60 isn’t. You’ll get a feel for it over time.

Open up a second browser tab. Visit Betfair and browse to the same football match. Check that the lay odds for Manchester City have not moved. Again small changes are ok.

It’s almost time to place some bets. The last piece of information you need is what amount to lay at Betfair. To calculate the lay stake use a matched betting calculator. The Profit Accumulator calculator is only accessible if you are logged in – accounts are free.

Matched_betting_tutorial_004
Matched_Betting_Tutorial_002

“Current back odds for Man City are 1.57”

“Current lay odds for Man City 1.64”

Matched_betting_tutorial_004

“Current back odds for Man City are 1.57”

Matched_Betting_Tutorial_002

“Current lay odds for Man City 1.64”

Input the current odds that are displayed at Paddy and Betfair respectively, not the odds shown at odds monkey odds finder. Reason being, the actual odds can move and you need to input the current real time odds, not those that are shown in Odds Monkey odds finder.

Input the relevant information into the calculator and the required lay stake for Betfair will be automatically displayed at the bottom of the page along with the lay liability.

Input the current odds that are displayed at Paddy and Betfair respectively, not the odds shown at odds monkey odds finder. Reason being, the actual odds can move and you need to input the current real time odds, not those that are shown in Odds Monkey odds finder.

Input the relevant information into the calculator and the required lay stake for Betfair will be automatically displayed at the bottom of the page along with the lay liability.



Bet Type:

Qualifying bets are calculated as ‘normal’. If you’re calculating returns on a free bet, it’s always calculated as ‘SNR’ which stands for stake not returned. It means when you place a ten-pound free bet you will be credited just the profits of the bet should it win, and not the ten-pound stake originally used. This is the ‘norm’ with all free bets.

Mode: 

Keep this on Simple.

Bookmaker Stake

Your stake at the bookmaker, i.e How much money you are putting down.

Matched_betting_tutorial_003

Bet Type:

Qualifying bets are calculated as ‘normal’. If you’re calculating returns on a free bet, it’s always calculated as ‘SNR’ which stands for stake not returned. It means when you place a ten-pound free bet you will be credited just the profits of the bet should it win, and not the ten-pound stake originally used. This is the ‘norm’ with all free bets.

Matched_betting_tutorial_003Mode: 

Keep this on Simple.

Bookmaker Stake

Your stake at the bookmaker, i.e How much money you are putting down.

Bet Type:

Qualifying bets are calculated as ‘normal’. If you’re calculating returns on a free bet, it’s always calculated as ‘SNR’ which stands for stake not returned. It means when you place a ten-pound free bet you will be credited just the profits of the bet should it win, and not the ten-pound stake originally used. This is the ‘norm’ with all free bets.

Matched_betting_tutorial_003Mode: 

Keep this on Simple.

Bookmaker Stake

Your stake at the bookmaker, i.e How much money you are putting down.

Bet Type:

Qualifying bets are calculated as ‘normal’. If you’re calculating returns on a free bet, it’s always calculated as ‘SNR’ which stands for stake not returned. It means when you place a ten-pound free bet you will be credited just the profits of the bet should it win, and not the ten-pound stake originally used. This is the ‘norm’ with all free bets.

Matched_betting_tutorial_003Mode: 

Keep this on Simple.

Bookmaker Stake

Your stake at the bookmaker, i.e How much money you are putting down.



Bookmaker Odds

The back odds of the event you have chosen. e.g Man City to win at 1.54. The Calculator uses decimal odds.

Bookmaker Commission

Always 0% – You will rarely come across a bookie charging commission.

Exchange Odds

The odds at the exchange e.g Lay Man City at 1.64

Exchange Commission

The amount of commission the exchange charges on winning bets. This is between 5% and 1% depending on the exchange. Betfair charge 5% and Smarkets charge 2%

Bookmaker Odds

The back odds of the event you have chosen. e.g Man City to win at 1.54. The Calculator uses decimal odds.

Bookmaker Commission

Always 0% – You will rarely come across a bookie charging commission.

Exchange Odds

The odds at the exchange e.g Lay Man City at 1.64

Exchange Commission

The amount of commission the exchange charges on winning bets. This is between 5% and 1% depending on the exchange. Betfair charge 5% and Smarkets charge 2%


Bookmaker Odds

The back odds of the event you have chosen. e.g Man City to win at 1.54. The Calculator uses decimal odds.

Bookmaker Commission

Always 0% – You will rarely come across a bookie charging commission.

Exchange Odds

The odds at the exchange e.g Lay Man City at 1.64

Exchange Commission

The amount of commission the exchange charges on winning bets. This is between 5% and 1% depending on the exchange. Betfair charge 5% and Smarkets charge 2%


The calculator result shows a lay stake of £9.87 is required, a liability of £6.32 This means you will need £6.32 in your Betfair account to place the lay bet.

The calculator result shows a lay stake of £9.87 is required, a liability of £6.32 This means you will need £6.32 in your Betfair account to place the lay bet.


“When you lay a bet the stake is the amount you could win and the liability is the amount you could lose.”



“When you lay a bet the stake is the amount you could win and the liability is the amount you could lose.”


Quick Tip:

Finding profitable offers can be a time consuming and not all offers are worth doing. How do you know which are profitable and which aren’t? What if there was a place where every profitable offer was listed with detailed instructions on how to turn them into withdrawable cash? There is such a place. I recommend Profit Accumulator.

Quick Tip:

Finding profitable offers can be a time consuming and not all offers are worth doing. How do you know which are profitable and which aren’t? What if there was a place where every profitable offer was listed with detailed instructions on how to turn them into withdrawable cash? There is such a place. I recommend Profit Accumulator.


More detailed information on betting exchanges here.

First place the £10 bet at Paddy Power, confirming the odds and stake are correct as you go. It is always best to place bets at the bookmaker first. Once the bet is placed and confirmed, place your lay stake at Betfair, again ensuring the odds have not moved. If they have, re-use the calculator to recalculate the lay stake.

With both the back ad lay bets placed let us look at the possible outcomes:

More detailed information on betting exchanges here.

First place the £10 bet at Paddy Power, confirming the odds and stake are correct as you go. It is always best to place bets at the bookmaker first. Once the bet is placed and confirmed, place your lay stake at Betfair, again ensuring the odds have not moved. If they have, re-use the calculator to recalculate the lay stake.

With both the back ad lay bets placed let us look at the possible outcomes:



Matched_Betting_Tutorial_001
Matched_betting_tutorial_007

Man City Win

Paddy Power pay: £15.71 (£10 Stake + Winnings of 5.71)

Betfair take your Liability of £6.32

15.71 – 6.32 = £9.38

A total loss of 62 pence (but you have a £20 free bet.)

Man City Lose or Draw

Paddy Power take your £10 stake

Betfair pay you your £9.87 – 5% commission. = 9.87 – 0.49 = 9.38.

A total loss of 62p (But you get a £20 free bet)

Man City Win

Paddy Power pay: £15.71 (£10 Stake + Winnings of 5.71)

Betfair take your Liability of £6.32

15.71 – 6.32 = £9.38

A total loss of 62 pence (but you have a £20 free bet.)

Matched_Betting_Tutorial_001

Man City Lose or Draw

Paddy Power take your £10 stake

Betfair pay you your £9.87 – 5% commission. = 9.87 – 0.49 = 9.38.

A total loss of 62p (But you get a £20 free bet)

Matched_betting_tutorial_007


Cowabunga baby! You just netted a £20 free bet for 62p. This is fantastic, next we need to turn that free bet into withdrawable cash.


The story so far…

Two bets have been placed. One £10 bet Paddy Power and One £9.87 lay at Betfair. One that Man City will win (Paddy) and one that Man City will not win (Betfair).

The overall outcome is that we have spent 62p and now have a £20 free bet to use. In reality, that would take around takes 4-5 minutes to complete and that is being slow 🙂


Place the free Bet and make risk free profit

For the free bet we follow the same process as the qualifying bet again, so back and lay an event but, this time, our back bet is done using free money.

The only difference is that we need to place the back and lay bets at higher odds than 4.0 to maximise our profit. The higher odds you use the closer to £20 you can make. If you get exceptional odds you can make more than £20 but as a general rule, you won’t make more than 80% of the free bet value.

So again use odds finder, but use the filter settings to ensure search results only show you close odds above 4.0.

Click filter and then set the minimum odds you want. I recommend 4 for now.

ProfitAcuumulatorOddsFinderMatched_betting_tutorial_0101


Once you have close odds around 4. An example here being the Utrecht v PSV match. Browse to that event in Paddy Power and Betfair, this is to check the odds haven’t moved dramatically as we did with our qualifying bet.

Final Steps

Use the matched betting calculator again to calculate your lay stake, imputing the odds shown on each website, this time, change the bet type to Free Bet (SNR)


Matched_betting_tutorial_017


The calculator results show that we are set to make at £14.20 or £14.22 depending on what happens. Profit that is not dependent on an event happening. No matter who wins this football match we make money. Nice! It also tells us the liability is £52.40. In plain English, this means we will need £52.40 in our Betfair account to place the lay bet.

Place the back and lay bets, I always have one last check to make sure the odds have not moved before you hit submit on the bet slips. If they have, re-enter the new odds into the calculator to get your new lay stake amount.


Cowabunga baby! You just netted a £20 free bet for 62p. This is fantastic, next we need to turn that free bet into withdrawable cash.


The story so far…

Two bets have been placed. One £10 bet Paddy Power and One £9.87 lay at Betfair. One that Man City will win (Paddy) and one that Man City will not win (Betfair).

The overall outcome is that we have spent 62p and now have a £20 free bet to use. In reality, that would take around takes 4-5 minutes to complete and that is being slow 🙂


Place the free Bet and make risk free profit

For the free bet we follow the same process as the qualifying bet again, so back and lay an event but, this time, our back bet is done using free money.

The only difference is that we need to place the back and lay bets at higher odds than 4.0 to maximise our profit. The higher odds you use the closer to £20 you can make. If you get exceptional odds you can make more than £20 but as a general rule, you won’t make more than 80% of the free bet value.

So again use odds finder, but use the filter settings to ensure search results only show you close odds above 4.0.

Click filter and then set the minimum odds you want. I recommend 4 for now.

ProfitAcuumulatorOddsFinderMatched_betting_tutorial_0101


Once you have close odds around 4. An example here being the Utrecht v PSV match. Browse to that event in Paddy Power and Betfair, this is to check the odds haven’t moved dramatically as we did with our qualifying bet.

Final Steps

Use the matched betting calculator again to calculate your lay stake, imputing the odds shown on each website, this time, change the bet type to Free Bet (SNR)


Matched_betting_tutorial_017


The calculator results show that we are set to make at £14.20 or £14.22 depending on what happens. Profit that is not dependent on an event happening. No matter who wins this football match we make money. Nice! It also tells us the liability is £52.40. In plain English, this means we will need £52.40 in our Betfair account to place the lay bet.

Place the back and lay bets, I always have one last check to make sure the odds have not moved before you hit submit on the bet slips. If they have, re-enter the new odds into the calculator to get your new lay stake amount.


Matched_betting_tutorial_016
Matched_betting_tutorial_0165

Select your free bet from the drop down box and enter your stake of £20 and hit confirm. Ensure your free bet has been placed and then head to Betfair to place your lay bet.

Ensure the odds and lay stake are correct and place and confirm the lay.

Select your free bet from the drop down box and enter your stake of £20 and hit confirm. Ensure your free bet has been placed and then head to Betfair to place your lay bet.

Matched_betting_tutorial_016

Ensure the odds and lay stake are correct and place and confirm the lay.

Matched_betting_tutorial_0165


Once these two bets are placed you have the cash in the bag! No matter the outcome you will have made £14.20 in 5 minutes work. The profit will end up in the account of the winning bet.

I hope this matched betting tutorial helps you on your matched betting journey!

Once these two bets are placed you have the cash in the bag! No matter the outcome you will have made £14.20 in 5 minutes work. The profit will end up in the account of the winning bet.

I hope this matched betting tutorial helps you on your matched betting journey!

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