Betting is ‘gambling money on the outcome of an event’. A very simple example is to toss a coin and call heads. If you’re right you win £1, if you lose you have to give someone £1.
Matched betting isn’t gambling. Think of matched betting as also betting £1 on tails..but with somebody else.
If the coin lands heads you’ve won £1 but owe someone else £1. And if it’s tails the opposite happens. Either way, you’ve broken even and not lost a penny.
Of course, that example would be a pointless exercise as your profit/loss is zero either way.
The simple reason that matched betting is profitable is that bookies offer free bets, bonuses and promotions.
Imagine if just by placing the £1 bets on heads and tails, you’re opening yourself up to a wealth of free bets.
These free bets can be used in the same way as the coin toss bet…only this time you’re using free money…and turning it into real money.
And when you consider that there are literally hundreds of bookmakers and casinos operating in the UK, the potential to make risk free money is endless.
Now looks look at how it works in a real matched betting scenario…
You start with £10. (That is the only money you will ever need!).
At 2 separate bookies, you open an account and deposit £5. Don’t worry about this bit, we’ll tell you which ones.
You then place a £5 bet at each of the bookies. Let’s use a tennis match as an example – At the first bookie you put £5 on player one. At the 2nd bookie you put £5 on player two. Don’t worry about this bit, we’ll tell you which matches to bet on.
After the match, you will have won at one bookie and lost at the other. Because the Matched Betting Tutor has told you which bets to place, you’ve more or less broken even (in reality you may have lost a few pence, but read on to discover why that doesn’t matter)
BUT bookies give you incentives to open accounts, so just by placing your initial bets you are gaining (on average) around £40 in free bets. This is based on the fact that plenty of bookies offer £20 in free bets as a sign up bonus. The amounts do vary but £20 is an accurate average.
Free bets by themselves aren’t worth anything to you, but if you use them on winning bets, that free money turns into real money. So how can you guarantee that the free money turns into real money? Simple, you do exactly the same as you did with the initial ten pounds…only with free money.
£20 on Player A, £20 on Player B. One of them will inevitably win…hey presto your free £20 has turned in a profit of £20 in real money!
So just be clicking a few buttons you’ve turned £10 into £20…and that’s just the very beginning because a) there are well over 50 different bookies out there offering these sign up bonuses and b) it’s not just new customers that get offered bonuses.
Basically, the potential to make money is endless.