This is how matched betting works
This matched betting guide is for beginners who want to place their first bet safely, but have no idea how matched betting even works.
Matched betting is a completely legal, tried, and tested way to make money online while you’re at home. It basically turns the tables on the bookmakers, to give you their free bet offers, so you can’t lose.
If you’re doing it correctly, you will never lose any money, but you do need to take your time and be really careful to avoid any mistakes.
If you are looking into how to start matched betting then have a look at:
Matched Betting Guide: Start Matched Betting from Home – This is how to start making your first £40 for free with matched betting. It walks you through how to get started.
Outplayed Review: How to Make Free Money Matched Betting – We love Outplayed as a matched betting calculator as they take away all the pain of working out the odds. Read how Outplayed works and how they can help you make money with matched betting.
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What is matched betting?
Matched betting is a great and tax-free way to make money online. It’s pretty much risk-free as you place bets on all the outcomes.
You are essentially laying a bet on both sides of the table so that you can not lose. This isn’t illegal or under the table. All the bookies advertise these offers to entice new customers in.
Matched betting allows you to profit from the hundreds of free bets and promotions offered by bookmakers.
How does matched betting work?
There’s two terms you need to know and completely understand to make sure you get your money back and more:
The Back bet – This is when you bet for a certain something to happen. So like “I bet Manchester United will win.” If this comes true, then you win the bet you placed and the winnings. If they lose or draw, you lose your money.
You can place a back bet with any bookmaker, like Paddy Power or William Hill.
The Lay bet – This is when you bet against something coming true. “I bet Manchester United will not win” is an example of a lay bet. If they do lose or draw, then you win. That is called the lay odds.
You can only place a lay bet at a betting exchange, like Betfair.
Matched betting works because it cancels out the risk of your back bet by betting against yourself at the exact same odds. You are matching your bet.
Once you’ve made the first bet, the reward is paid out by the bookmaker. This is where you can make your money. So, for example, Betfred may offer £30 free if you deposit £30 etc.
You now repeat the process and whichever way the event goes you win.
Is matched betting safe?
Yes, it is safe but like everything you do need to take your time and read everything.
Making a mistake can also cost you money so making sure you do it step by step and slow, no rushing will help stop as many mistakes. Using a company like Outplayed can really help you to limit any losses, especially if you are new to matched betting*.
If you feel like you are getting hooked or it’s turned into a habit more than making money then it’s time to stop!
Gambling websites do NOT affect your credit rating but if you’re using your winnings to put a deposit on a house for example, then you may need to declare it.
Is matched betting legal?
Yes, matched betting is completely legal. All you are doing is betting against yourself and earning from that.
Match betting is not a scam. While it does sound easy to make money, you can also lose money if you are not careful or if you place the wrong bet.
Do I need a company like Outplayed to try matched betting?
No, you don’t but companies like Outplayed can help you to not make big money mistakes early on.
Outplayed is matched betting service that helps you to find good odds from the betting exchanges. They offer step-by-step guides on how to make money with matched betting plus help you keep track of your earnings and profit.
Using Outplayed means that you can use the betting offers without too much risk.
Using a system like Outplayed is a simple and effective tool to help you track your profit and the odds. Read more about Outplayed here and how they can help you to make money.
How much does Outplayed cost?
Outplayed offers three membership types.
The free version means you can earn up to £40 without it costing you anything.
Platinum monthly membership means that you get over 100 bookmaker bonuses, video tutorials, new offers, full access to all their software. You can cancel at any time.
Platinum annual membership is cheaper if you’ve decided to give matched betting a good go.
Diamond membership costs £49.99 a month and gives you full access to all the bookmaker offers and the matched betting forum.
What we love about Outplayed
Outplayed comes with a lot of helpful videos so if you are unsure how to use the site or even how matched betting works then watch them.
They offer access to their huge forum with their Platinum membership package. This means that you can ask seasoned pros any question you want and get the answer. Outplayed members help each other to earn more. It’s a real online community! What we like is that every offer including the daily reloads have a dedicated thread so you can ask questions or find out what others are doing too.
Outplayed’s customer service is second to none. They have a team available 7 days a week so if you do need help and forum can’t answer they can help. Start using Outplayed with our matched betting offer of a free £40 here.
Outplayed also has great existing customers reload offers so you can still do matched betting even after a few months.
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What’s the risk and why isn’t everyone doing it?
Everyone could match bet, but it does take time when you start. There really is no risk, as you are covering yourself by betting for and against the same scenario.
The only risk is if you get it wrong. Everything needs to be doubled checked.
If you enjoyed this post and would like some more money making ideas from home, including ways to freelance, start a blog or even earn from your phone, then head over to my making money section here on Savings 4 Savvy Mums where you’ll find over 30 money making posts dedicated to helping you earn more from home and become more financially stable as a family. There’s also tips in my Money Saving Mums Facebook group. You could also pop over and follow my money making Pinterest boards for lots more ways you can earn money from home; Money Making Mums and Working from Home Jobs for Mums.
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