Matched Betting Made Easy
Method 1: Win, Lose or Draw
To make things a little easier for complete newbies to matched betting, we have come up with a stepping stone to traditional matched betting. We show this in our weekly updated Matched Betting Example that you can also get to by visiting www.freebetchallenge.co.uk.
Method 2 is the same as traditional Matched Betting, where you use backing and laying to release and convert free bets into money. We created Method 1 so you can get started without the need to understand what "laying" is.
In Method 1, you can see from the weekly example that you simply place 3 bets on the win, lose and draw of a football match, so whatever happens you know that 1 out of 3 of these bets will win. In the example, you will get a free bet from each bookmaker that can then be turned into money by using them to bet with on another football match in the same way. If you are struggling to get started, then do this example. You can also watch a video on placing your first bet online to help you get started.
You can use this same principle shown in the example to carry on making money from free bets. You can use any bookmaker that has a free bet offer to bet on the win of a football match and then bet on the draw and lose with either another bookmaker or a bet exchange like smarkets or betfair. We use the bet exchanges instead of other bookmakers because they have better odds and so that you can bet any random amounts, like £2.46 etc. See the video showing the difference between bookmakers and bet exchanges when you sign up as a free club member.
There are 2 steps to method 1.
Step 1 of 2 - Qualifying Bet
A qualifying bet is the term given to a bet made with a bookmaker to unlock their free bet. You make a small loss at this stage, to get your free bet.
In Method 1, as shown in the skybet example, you place a £5 with Skybet on team 1 winning a football match. Then because there are different odds on the draw and on team 2 winning, we have to use the Free Bet Getter Calculator to know how much to bet on the draw and on Team 2 winning, to always return the same amount, whatever the outcome of the match. This is shown in the top table of this pdf. Get the blank pdf and watch a video of how this was calculated on this page (Free Bet Challenge Step 2 of 4, the £100 club).
You will see that we made a £0.24 acceptable loss to buy our £20 free bet in the skybet example.
Step 2 of 2 - Convert Free Bet into Money
Step 2 is to convert the free bet into money. We essentially do the same thing, but this time with the free bets. Also, because the free bet stake is not returned (SNR) then we use the Free Bet to Money Converter Calculator to convert the free bet into money. This is shown in the bottom the bottom table of the skybet pdf example.
You will see that we made £12.72 profit from the free bet in this example.
Click here to see Method 2 (Traditional matched betting using Backing and Laying)