If you are a beginner with matched betting, it may seem a bit complicated. You may never have used betting exchanges, you’re hearing new terminology and it may all seem a bit too good to be true to be able to make a risk-free income every month with little work. We’ve listed below what we have found to be the most frequently asked questions on matched betting. If you have a suggestion that isn’t listed in this article, please get in touch and we will see if we can add it in.
What is matched betting?
We’ve covered this in a bit more detail in another article which you can find here. Matched betting is a method of extracting a guaranteed profit from bookmakers free bets, bonuses and promotions. Bookmakers often offer a free bet when you sign up with them and place your first bet. Matched betting uses this free bet that you receive to guarantee a profit from it regardless of the outcome of the event you place your bet on. There’s a little bit of maths involved in this but matched betting sites do all this work for you.
Is matched betting legal?
This is question that is often asked by beginners. Matched betting is 100% legal provided online betting is legal in the country you reside in as you will using online bookmakers and betting exchanges to place your bets.
How much money can I make from matched betting?
Signing up to bookmakers and receiving the free bets they give you is extremely profitable. If you complete all the sign up offers on a site such as MatchedBets.com you will make around £1,000 in profit and that’s not including casino and bingo offers. Once you have completed these offers you will then be matched betting with reload bonuses and bookmaker offers that are given to existing customers. There are daily offers to do which will amount to around £500-£1,500 a month depending on the time you dedicate to it.
How much time does matched betting take?
This depends how many offer you want to complete and how much money you want to make. Using a matched betting service will save you an enormous amount of time as these sites find all of the offers for you, they show you which events to bet on which will give you they best profit and they even show you how much to bet. If you’re looking to make £500-£1,000 a month on a regular basis, you will want to be dedicating around 1-2 hours a day to matched betting.
Is matched betting risk-free?
Matched betting is not considered gambling as you know how much profit you will make, regardless of the outcome, before the event you have bet on has even started. The only risk with matched betting is in human error. This is if you place a bet on the wrong event or at the wrong odds or for the wrong amount. Matched betting sites show you what to bet on, how much to bet and where to bet it. If you follow the steps in their guides their is no risk of losing money with matched betting.
I’ve never bet before. Will I be able to do matched betting?
It’s actually a positive if you have never bet before and want to do matched betting, as you won’t have any online bookmaker accounts. This means that you will be eligible to receive all of the signup bonuses, leading to more profit. The top matched betting sites have step-by-step guides and videos for each bookmaker offer and so, even if you are new to online betting, you shouldn’t trouble completing the offers and making money.
What are back bets and lay bets?
A back bet is when you bet on something to win. For example, you may back Manchester United to beat Sunderland. A lay bet is when you bet on something not to win. For example you may lay West Ham against Arsenal. Therefore you are betting on West Ham not to win (Arsenal win or a draw).
How much money do I need to get started with matched betting?
The bigger your starting fund, the more offers you can do at once. When first starting out, we recommend that you have roughly £100 available to cover your bets on the bookmaker and the exchange.