Having the word ‘betting’ in its title doesn’t help matched betting’s argument that it’s not gambling. Yes, it involves placing bets, but the very process of matching these bets means that your money is protected. This post will answer the question, “what is no risk matched betting” and explain exactly how you can use it to make money. Without risking your own.
What is no risk matched betting?
No risk matched betting is a way of extracting a profit from online bookmaker sign-up offers, free bets and bonuses. It’s also known as just matched betting and is a legal way of making money online. Most people haven’t heard of it before and those who have don’t always believe that risk free betting exists. But it does.
The method of no risk matched betting is based on maths. By matching your bets, you offset the risks usually associated with gambling. Instead of just placing one bet (a back bet with a bookmaker) you also place a lay bet at a betting exchange. While these bets effectively cancel each other out, they also crucially trigger a freebie. The free bet is where the money comes from. And because it’s the bookmakers’ money, you’re not using your own.
It can take a bit of time to get your head around, but once it’s clicked – you’re on the road to consistent profits! In fact, it’s possible to make around £1000 from sign-up offers alone. Then you’ll move on to daily offers, where you can earn a tax free income of between £300 – £1500 per month. How much you earn depends on a few things, including time spent and type of offer completed.
So, if you’re over 18 (in the UK) there’s no reason why you can’t give it a go.
Is it really no risk?
Mathematically, no risk matched betting is 100% no-risk. It reduces exposure to the financial hazards and potential health risks associated with gambling.
The ASA have ruled that matched betting is technically not ‘risk-free’ due to the fact that there are small risks involved such as human error or odds changing quickly. For example, you could mistakenly type in the wrong number for a lay bet. That then, could cause you to lose money but through human error alone. So make sure you check, double check, and check your bets again before placing them. Or, in situations such as horse racing, the odds change quickly and frequently and you may not type in the correct numbers at the right time, therefore again losing money.
Whether you jump in without fully understanding, or are surrounded by distractions. It’s easy. But when it comes to no risk matched betting, you’re not on your own…
That’s where OddsMonkey comes in
As a full matched betting service, OddsMonkey has all of the support and software you need to get you started. Our core product, OddsMatcher, comes with its own video and written tutorials. We also have a team of matched betting experts on hand to help out wherever they can and Premium members can book a one to one training session. Everything you need to eliminate that last little bit of risk.
So what is no risk matched betting? Download our introduction to find out more:
Then sign up for free and give it a go! You could earn around £45 without paying a penny.
Matched Betting Basics
So how do we place bets and keep the risk really low? It’s actually really simple! We need to place two bets every time, which is why matched betting is sometimes called Double Betting. We need to place our back bet with a bookmaker and then a lay bet with a betting exchange like Betfair. This allows us to cover all outcomes of the bet, so unless we make a mistake, we can’t lose. You can find out more detail about what is matched betting here.
The Back Bet
This is a simple bet at the bookmaker, for example if England are playing Brazil we could place a back bet on England to win.
The Lay Bet
Betting exchanges allow us to place lay bets, we can’t do this type of bet at a bookmaker. Very simply it is betting on something not to happen. So if our back bet was on England to win our lay bet would be on England not to win. The lay bet covers the draw as well as if it is a draw, England haven’t won.
Unlike bookmakers betting exchanges have a set amount of liquidity for every bet. When more bets are placed there is more liquidity. We need to make sure there is enough money at the exchange for us to be able to place our bet at the odds we want. If there isnt then we might not get the odds we need meaning our qualfying loss might be higher than we expect. By checking the liquidity before we place our back bet we can ensure that we will be able to place our lay bet and reduce the chance of us making a loss on the bet.
Once our back bet and lay bet have settled we will have broken even. One of our bets will have won and one will have lost.
In order to be able to place the back bet and lay bet we need to know how much to stake on each bet. Depending on the odds and what type of bet it is. That is where OddsMonkey’s calculators and software comes in.
How we make a profit
There are many different types of matched betting offers but the one you will learn first is ‘bet x get x’. This is where a bookmaker will give us a free bet for placing a normal back bet with them. We reduce the risk of that bet by making it a matched bet as described above.
The Qualifying Bet
This is a matched bet as described above that allows us to qualify for a free bet. So if a bookmaker is offering us a free bet for placing a £20 bet. We would bet £20 with the bookmaker and then lay that bet off at the exchange. Once the bets settle we will have broken even (or made a very small loss or profit, depending on the odds) but then of course we have our free bet. This is where we make a profit.
The Free Bet
Once we have a free bet we can lock in a profit by backing and laying again. We use the OddsMonkey calculator in Free Bet Mode (stake not returned) and that tells us what we need to lay at the exchange to lock in a profit. We can usually lock in around 80% of the value of the free bet. So if we have a £20 free bet we can lock in around £16 profit!