Business Magazine

Matched Betting for Dummies- A Step by Step Guide

Posted on the 17 July 2018 by Martins97

Hello, potential Matched Betting masters! This is the ultimate matched betting step by step guide. You might as well call it the best matched betting for dummies. Well, I don't like it being called "For Dummies", I prefer the term for absolute beginners. Anyways, we have created this article because we want everyone living in the UK to smash and keep smashing bookmarkers! So after deep research and trying a few tricks, we've discovered ways by which you can make your first £600 of risk-free money with matched betting or more.

I suppose if you reading this article you are interested in learning the art of successful betting and that you have tried traditional betting strategies. How well did that work for you?

With this Matched betting for dummies step by step guide that I will share with you now, combined with patience and a little effort from you, you can GO from a newbie to a total PRO! And in less time you can earn tax-free profits each month from giving just a single hour of your precious time per hour every day.

You are probably laughing so hard at this now and asking.... How is this even possible? Is this guy completely sane? Is it really legal and perfectly safe? What do I need to get started? Do I need to pay a professional or buy a fancy equipment?

Be patient my friend. Grab a qick snack and a cold beer, sit down and allow me take you through everything you need to start raking in cash big time!

You set....ready? Let's go!

INTRODUCTION

Without wasting any more time. Let us begin.

What is Matched Betting?

Matched Betting is a form of RISK FREE online betting that(if you follow the rules) guarantees a long term profit.

But how is betting ever risk-free? Well, it is pretty simple, you bet on the same game and place two completely opposite bets, exploiting both Bookmaker and Exchange bonuses. So you see this is not gambling (not even close to), it's a form of an investment that makes you profit. Of course like any investment, miscalculations or wild guesses can make you lose cash but following site that provide good information like bonusbagging.co.uk/ will make the job so much easier for you.

And of course there is the ever growing question that seems to feed on the minds of people: Is there ever an easy matched betting? If it is so easy and good, is it completely legal? The answer is: Yes, it is REALLY LEGAL. It is legal because it really is-no part of it is illegal. It simply involves you exploiting BONUSES that Bookies give for free (especially for new accounts) and converting them into real money.

STARTING YOUR MATCHED BETTING ADVENTURE
Matched Betting for Dummies- A Step by Step Guide

What do you need to start Matched Betting? First of all, you need to have attained the legal age(18+) then you will need a mobile device, personal computer(PC), or laptop with a stable internet connection. That's all!

There are just a few things to scale through before we start talking about the whole process of Matched Betting and that is the terminologies used in Matched Betting.

* BACK BET - This is also known as the standard type of bet. You simply place bet on an outcome you think will happen. For example we have a game between France and Croatia. Bookie offer you odds 5.00 on Croatia win. You place the bet, bookies accepts it and if Croatia wins you win 5 times your stake ((£10 stake on Croatia win with 5.00 odds, you will get £50 with £40of pure profit (£50-£10 stake =£40.
* LAY BET - The lay bet is somewhat trickier. Here you bet that something won't happen; if it does, you lose your cash. Lay betting is backing a selection to lose. That means you have the opportunity to choose odds that you want to offer nad the stake you're willing to accept-You are playing the role of a BOOKMARKER.
* BET STAKE - refers to the amount of cash that you will need to place when you take you take your BACK BET. And, the formula used in calculating your winnings is very simple: (stake * odds) - stake = profit.
* BET LIABILITY - Bet liability is the amount of money a lay bet will cost yu if you lose your lay bet- sounds simple, right? Like bet stake, the formula o calculating your loss is quite simple 🙁 backers stake * (lay odds-1) = Liability.
* FREE BET - is the reward given to you by the bookies for signing up with them and placing your first bet.
* TRIGGER BET - refers to the initial bet that you place to unlock a free bet

If you desire to learn more about liability calculation and want to "have fun with odds" visit Matched Betting Calculator and find out more

Betting Odds Explained
As a general rule, every bookmarker account you create will show the betting odds in fraction format. Do you find that difficult to read? Follow our guide to change them to decimals in the settings section. Here is a quick fix to that!

  • Fractional Odds
    For example: 4/1 (which translates to 4 to 1). That means that for every £1 you bet you get £4 profit.
    So a £2 bet would give you £8 profit + the £2 initial amount you bet....so that equals to £10 total returned.
  • Decimal Odds
    The easiest way to do decimal odds is to think it as the fractional odds plus one. For example, 4/1 would be displayed as 5.0 in decimal odds.

To calculate the profit margin of decimal odds, you simply multiply your bet by the decimal odds and the total will include the initial bet amount. So a £4 bet would return 4 x 5.0= £20(the initial bet amount included).

Ok now when we got basic things we can go further.

Opening A Betting Account

Matched Betting for Dummies- A Step by Step Guide

Opening a betting account is very easy as bookmarkers want to make it fast and easy for new customers to sign up. The only requirement (which I see as perfectly normal) is that bookmarkers may request proof of your age and address in the form of a photo.

Now, proof of ID can be provided in various forms: PAN card, passport, voting card, driving card or identity card. And address proof can be in form of: letter from an employer, utility bill or bank statement. Majority of bookmarkers will check your details against he electoral roll, so this is hardly a problem.

Pro tip: save a copy of a photo of your ID and address on a folder you can easily access on your Laptop/computer so you can easily email it on request. Heck, I even recommend having one on your mobile device too.

BOOKMAKERS V BETTING EXCHANGES

To begin the ultimate challenge of matched betting for dummies, there are two types of sites for online betting you will need to use, Bookmakers and Betting Exchanges. Bookmarkers are the good old traditional online betting sites like: Ladbrokes, Bet365 and Coral for example and they allow you place BACK BETS, while Betting Exchanges sites allow you to place LAY BETS. For example, the most popular Betting Exchanges sites are BETDAW and BetFair.

It gets better...

Both of those types of betting sites use offers to attract new customers and to stand out from competition. That is great news for you as you need those offers for Matched Betting. Those offers come in form of free bets that are offered by Betting Exchanges and Bookmarkers. Offers usually require you to place a bet in order to receive your free bet. Those free bets are referred to as bonuses and with those bonuses Matched Betting players make their profit.

IS MATCHED BETTING REALLY TRUSTWORTHY?

Well it is if you are disciplined and you follow the basic step every single time. There are of course moments when you'd make mistakes/errors, but when you mastered the act of matched betting for dummies after your first few bets, it only gets easier but please do not give in to your desire to "rush things".

With a well-tailored discipline and determination, you can earn as much money as you want, but it really depends on how much time you put into Matched Betting. But in general my average matched betting profit works around £25 per hour. So with one hour per day, I can earn up to £500 per month.

As soon as you get the hang of it and feel more confident, you can run multiple bonuses at the same time, you will have more money in your bankroll but you will need to exercise more patience of course. Taking advantage of multiple bonuses at the same time is hard, you need to be focused and there is a higher chance of making human errors there.

TOOLS YOU NEED

To begin your matched betting for dummies journey, there are tools to quicken your learning. With these tools in place your journey into matched betting waters won't be treacherous. Odds Matching Software is a great tool no doubt. This software takes away all the rouble of manually looking for bets, which can be really frustrating and tiring. Bonus Bagging Odds Matching software works well and their calculator helps you to determine how much you need to bet back and lay bet to make sure the two bets cancel each other out.

START MAKING MONEY
Matched Betting for Dummies- A Step by Step Guide

In the space of a few minutes, I will now quickly walk you through the basics.

Want to know how it works? Matched Betting works by placing two rounds of opposite bets:

1. Qualifier Bet - is the bet you need to place in order to claim your bonus
For example, if the Bookmarker promotion is "Bet £20 to get a £60 Free Bet", read the terms and conditions and see usually you need to put that bet on odds higher than 1.50. Sign up at that Bookmarker and after that sign up at one of the exchanges (for example Betfair).
Now look for the game with odd greater than 1.50, If you took my advice and signed up for bonus bagging go to the odds matching software, find the perfect game and calculate with Matched Betting Calculator provided to work out how much you need to back and lay( BACK at Bookmarker and LAY at Betting Exchange).
At the end of the selected match, you will get your BONUS credited.
2. Profit Bet - with BONUS in your pocket now you repeat the same process, but with BONUS money. If your BACK bet wins you collect money from Bookie and if your BACK bet loses, you will collect the money from Betting Exchange. So it is WIN - WIN situation.

EXTRA MATCHED BETTING FOR DUMMIES TIPS FOR BEGINNERS

In this article, matched betting for dummies, ensure you always write usernames and passwords on the piece of paper. Keep track of your Betting Exchange and Bookies accounts as in no time you will have more than 15 accounts opened at various Betting Exchanges and Bookmarkers.

PROS AND CONS OF MATCHED BETTING
PROS:
* 100% Guaranteed profits- there will always be bonuses and offers.
* Easy way of earning monthly income
* Low start up fees- you don't require much money to begin.
* No past experience needed- you'd begin trading like a Pro in no time.

CONS:
* Miscalculations risk- If you end up miscalculating a step, it could be quite costly. This is why you need to check, double check and triple check before you place your bets. I advise traders not to place any bets when you're tired. If you do things
* Human error risk - If you do end up making a mistake, it could be quite costly. This is why you need to check and double check before you place your bets. I would highly recommend not placing any bets while you're tired. If you do matched betting step by step, then the chance of human error or mistake will be minimal.
* Can be a bit too much to take in and can confuse people in the early days. If I was to speak to my parents, for example, and explain that I'm able to save money for a deposit on a house thanks to matched betting he would be very worried. I imagine that he would worry that I was going to be gambling and would end up selling everything I ever owned. Plus, I'd quickly become penniless and would eventually be thrown out in the streets.

In the end, the pros obviously outweigh the cons. Spend more time doing all the necessary research you can and you will see Matched Betting pays off.

Enjoyed our Matched betting for dummies guide? Kindly share with friends and family!


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

Magazines