The best matched betting sites list all of the offers available from bookmakers that can be turned into guaranteed profit through matched betting. What you really want to know is how the process works from start to finish.
If you are completely new to matched betting then lets start from the beginning. Matched betting is the process of using bookmaker offers and promotions as a way to guarantee ourselves a profit no matter what the outcome of the event we have placed a bet on. The most common form of bookmaker offer are those that give new customers a reward for signing up with the bookmaker and making their first deposit and bet. These are often ‘Bet and Get’ offers, for example bet £10 and get a £10 free bet.
In this article, we are going to look at the current sign up offer from William Hill, explaining each step you will need to take in order to make sure you come out with a profit in the end. This particular offer presents the chance to earn £30 in free bets, when you deposit and bet £10.
Registering For An Account
The first step you will need to take is to head to the William Hill website and sign up for an account. You will need to enter your personal details so that the bookmaker can verify that you are in fact a real person. It is extremely important that all the information you give is correct, as if false details are provided you could be denied the offer and your account could be closed. You will also need to create a Username and Password, along with selecting your preferred betting currency.
In order to be eligible for this offer, you must enter the Promo Code C30 when registering. You’ll then need to deposit your first £10 using your own money, but this will never be at risk. Due to the nature of certain offers, it is always best to deposit funds using a debit card. Credit cards can incur extra charges, while deposits via Moneybookers, Ukash, Paysafe and Neteller are often excluded from bookmaker welcome offers.
Make sure to change the odds format to decimal too, as this is the format we need to use when matched betting. Decimal odds are very easy to understand, as they include the returned stake on winning bets. For example, a selection with odds of 4.00 will return £4 when a real money bet of £1 is placed.
Placing Your Qualifying Bet
You will then need to find a selection for your qualifying bet. If you are unfamiliar with the term, a qualifying bet is a bet that must be placed with a real money stake in order to be credited with a free bet. The process of the qualifying bet is to place a bet bet with the bookmaker and a lay bet against the same selection on a betting exchange, such as Betfair or Smarkets. The exchange allows us to play the role of bookmaker, meaning we can cover both outcomes.
Searching for a good selection shouldn’t be too difficult. It will be made even easier if you are a member of a premium matched betting site such as OddsMonkey or MatchedBets, as they will provide you with an automatic bet finding tool. If you are looking manually, be aware that the minimum back odds with the bookmaker are 1.5. Look for as close of a match between the odds on William Hill and those on the exchange, as the close the odds the less your qualifying losses will be. You will then need access to a matched betting calculator in order to work out the ideal lay stake in order to maximise your profits.
You will be using the Normal Bet function on a matched betting calculator, and simply enter the required details, such as Back Odds, Back Stake and Lay Odds. You will then be given a lay stake and a liability amount. The liability is simply the amount of money you would lose if your bet lost at the exchange. Thus, the liability amount is how much you will need in your exchange account to cover the bet.
Overall, you will probably need a bank of around £100 to complete the offer. Place your £10 on the bookmaker bet first, and then place your lay bet immediately after. You will then be credited with £30 worth of free bets, paid as three £10 free bets.
Using Your Free Bet
You must use your free bet within 30 days, otherwise it will expire. You are able to use the three £10 free bets on the same selection, but they have to be placed separately. When looking for a selection here, remember that back odds of more than 5.00 will provide you with a good amount of profit. Finding a selection with close odds on the exchange is also extremely important. If you were to find a ‘perfect match’, all you will be losing is a small amount on commission but the greater the difference in odds, the larger the percentage of the free bet you will lose.
Use a matched betting calculator again here, but this time set it to a Free Bet function. Place the bet on William Hill using the first £10 free bet stake and place the amount that the calculator says you need to lay on the exchange. Then repeat this step for the other two £10 free bets and you will be done with the offer. It is a very simple process, and you should be able to keep around 80% of each free bet stake. With all three bets settled, a profit of around £24 will be yours.