What is matched betting?
A beginners guide

Matched betting is a way to make money from home using free bets and promotional offers given out by online bookmakers.

Rather than relying on luck, with matched betting you cover all potential outcomes of a sporting event by placing more than one bet.

All you need is a bookmaker account, some odds, and an OddsMonkey Free Trial…We’ll show you exactly how to turn free bets into real profit.

With our easy-to-follow video tutorials and written guides, we’ll show you how to make around £30. In just a few simple steps. And that’s just the beginning. There are new money-making opportunities available every single day.

£779 in sign up offers. Start earning today.

How Does Matched Betting Work?

Place two opposing bets: one on ‘win’ and one on ‘lose’ to cover all potential outcomes of a sporting event. This ‘back and lay’ betting technique gets rid of risk and the need to rely on luck. It allows you to turn free bets into real money. Without risking your own.

Online bookmakers want new customers. They want as many as possible. And they’re willing to try anything to grab your attention. In order to attract new customers, many bookmakers offer free bet promotions to encourage people to sign up. A popular offer will be along the lines of “bet £10, get £10 in free bets”.

Now, with traditional betting, you can sign up, place a bet and get your free bet. However, there’s no guarantee that any of your bets will win and you may come away with nothing. Or even with less money than you started with.

But with matched betting in the UK, you can unlock the free bet and protect any money you use to place a bet with. Oh, and you can turn the free bet into actual profit too! Eliminate the risk associated with traditional betting by placing two bets instead of just one. Every time you place a back bet (for something), you place a lay bet (an opposing bet against the same outcome). This back and lay betting technique allows you to make a profit* on free bets. Typically, you will end up with approximately 80% of the free bet amount, so a £30 free bet turns into around £24 profit. *Matched betting eliminates the risk associated with traditional betting. However, human error can cause mistakes and result in money being lost. Always double check everything before confirming any bets.

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What you need to start
Matched Betting

A device such as a smartphone or laptop
and a reliable internet connection.

Some starting funds.
You can add to this with the profits you make as you complete more offers.

An email address
just for matched betting. Sync it up to your smartphone so you never miss an offer.

An online bank account or wallet.
It’s up to you whether you use your main bank account to transfer money into and out of your betting accounts. However, it can be useful to have a separate bank account or e-wallet for matched betting.

An official picture ID
such as your passport or driving license. You’ll also need a utility bill showing your name and address and a bank statement showing your name and address. Not all bookies ask for these but some do, so it’s best to have them prepared and ready to send if asked.

Back and lay bets:
two parts of the matched bet

Matched betting is a game of two halves. Or a technique of two bets, anyway. These two bets are called ‘back’ bets and ‘lay’ bets. Let’s look at them both in a bit more detail.

Back bets

A back bet is a bet you place on an outcome you believe will come true. A bet on something to happen.
For example, if you place a back bet on England to win their next match, it means that you think they will beat the other team. Your bet will be successful if England wins.

Back bets are placed at online bookmakers like Betfred or Coral.

Lay bets

A lay bet is a bet you place against an outcome you believe will come true. A bet on something to not happen. For example, if you place a lay England to win their next match, it means that you think they won’t beat the other team. In this case, your bet will be successful if England lose or draw.

Lay bets are placed through online betting exchanges like Smarkets or Betfair.

Start your FREE TRIAL today

and unlock £29 with our offer guides. Each guide will walk you through the back and lay bets needed to make your first matched betting profits.

Earn immediately. No payment details required

How to place a matched bet

OddsMonkey’s Free Trial brings you detailed guides and video walkthroughs, so we’re with you every step of the process, but here’s a quick overview of how to place a matched bet:


Open a bookmaker account (Coral, Skybet).


Open a betting exchange account (Smarkets, Betfair).


Use OddsMonkey’s OddsMatcher tool and calculator to find a sporting event to bet on.


Place your back bet at the bookmaker and your lay bet at the betting exchange.


Earn your free bet! You can now repeat this process using your free bet and lock in a profit*.

What does OddsMonkey do?

OddsMonkey is a full matched betting service for UK bettors. We offer tools, tutorials, and our team of experts. We’re home to the world’s first dedicated matched betting tool, the OddsMatcher, which was created to help you find the best matched betting odds and opportunities available.

Our video tutorials and written guides are here to show you everything you need to know about matched betting. On top of all that, our team of matched betting experts and fantastic Community are all on hand to support you as you take your first steps towards unlocking real profits.

What is in the free trial?

Our free trial has been designed to offer everything you need to start matched betting today. And there are just four simple steps:


Matched Betting

Introduction to
matched betting


Betting Exchange

Introduction to
betting exchanges



Coral Offer:
Earn £15+



Coral Offer:
Earn £15+

The free trial period lasts for as long as you need it, but it shouldn’t take more than a couple of hours to complete.
After that, you’ll be £29+ richer and well on your way to your first £1000 profit!

If you do need any more help along the way, feel free to contact us at [email protected] or click here to get advice in our Facebook group.

Is OddsMonkey the best matched betting site?

It’s not really in our nature to blow our own horn, but we did create the original matched betting software. And it feels pretty good to know that OddsMatcher has been used throughout the matched betting community since 2011, helping tens of thousands of people earn real money.

Since then, we’ve put together a strong team of matched betting experts and top developers. All of this means we’ve been able to add new tools, training, videos, tutorials and customer support to the OddsMonkey site.

While we did build the first odds matching tool, we didn’t create matched betting itself. People used to have to search for odds and betting opportunities manually, which was tricky, time-consuming and pretty tedious. What OddsMonkey did was turn the process largely automatic, making it quicker and easier for anyone and everyone to use matched betting to make money online and add to their monthly income.

If you still have questions about what matched betting is or how it works, please contact us at [email protected]

Matched betting questions

Now, if you’ve never heard of matched betting before, you’re bound to have questions. Hopefully we’ll have answered most of them above, but if not, keep reading, or head over to our FAQ section to find out more.

Start your FREE TRIAL today

and unlock £29 with our offer guides. Each guide will walk you through the back and lay bets needed to make your first matched betting profits.

Earn immediately. No payment details required

About Our Company
We are a team of software developers and experienced Matched Bettors, dedicated to helping you earn a sustainable, tax-free income every month.
Get in touch
Address: 15 Parsons Court, Aycliffe Business Park, County Durham, DL5 6ZE

Email: [email protected]
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*DISCLAIMER: We’re legally required to state that there is no guarantee of specific results each month. The amount of money that you earn can vary dependant on the time and effort that you commit each month.

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