Matched betting is one of the best side hustles I have ever tried. It is so good that even with a full-time job it is possible to earn £1000 extra per month. There are numerous websites dedicated to showing you exactly how to earn really good money on a monthly basis placing matched bets. The only small stumbling block is you generally have to pay a small fee to use these services.
This does put people off even when some of these services give you a month’s free trial or at the very least a huge reduction on the cost. Sometimes people dont want to take that small leap to be able to boost their earnings. That is totally understandable and that is why I’m writing this post.
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It is all very well being able to talk about matched betting and its many positives while also trying to explain in a roundabout way how it works but I’m a firm believer of actively getting involved actually makes the learning experience easier.
So I’m going to step by step talk you through placing your first matched bets.
What You Need To Start:
Online Bank Account:
So to begin with you are going to need a few things, All of them easy so don’t worry too much. You are going to need an online bank account with a debit card preferably not your main bank account as there will be a few deposits and withdrawals and you don’t want these mixed in with your day to day banking.
I signed up for a NatWest online account in around 4 minutes and the card arrived 2 days later. Something like this is perfect.
All of the matched bets are going to be taking place in the comfort of your own home from your home computer. You don’t have to set foot in a betting shop (I still haven’t and have made 4 figures doing this). It doesn’t have to be the best computer in the world, just make sure it can handle a few tabs open at the same time and that your broadband connection is secure.
Peace And Quite:
This one might not be obvious but you need no distractions. I would even suggest that you place your mobile phone away from wherever you may be sitting. Distractions are when mistakes are made and this is the only way you can potentially lose money with matched betting. So take yourself off somewhere quiet and move all distractions away.
A Small Cash Deposit:
To start I would recommend £100 to be placed in your account but more would be better. Of course, you could do this with less and still get results it just takes a little longer.
Let’s Get Started: First Matched Bets
Ok So this is going to give you a full walkthrough guide on how to place your first matched bets, The one thing I cant do is choose those bets for you but don’t panic you will be fine. The first thing I’m going to need you to do once the above tasks have been completed is to open up that laptop and we are going to sign up to 2 websites. The bookie and the exchange. You will place a back bet at the bookie and a Lay bet at the exchange.
The first thing you need to do is get signed up to a bookie that has a good new customer offer. Ladbrokes at the moment has a good offer.
As you can see it is bet £5 and get £20 in free bets. It basically equates to around £15 in pure profit for very little work. You need to find this main page and sign up on the Join Here button. Enter your details and if asked to deposit, deposit £5 as that’s all they require and then that’s it for now. Leave that tab open and let’s sign up to our second site.
This is the second site to sign up to, its what we refer to in the matched betting world as an exchange. You may have heard of Betfair for example. This one, however, is called Smarkets. This is called Smarkets and is better laid out and easier for new people. So go ahead and sign up to Smarkets, No deposit is necessary at this time.
You should also go ahead and open up the third tab. This is a great free matched betting calculator by the guys down at MatchedBettingBlog.com. They also some great guides in case you get stuck.
The First Bet:
Head back over to Ladbrokes and we need to clarify the rules. Your bet should be placed within 14 days of opening the account. It must be at odds of 1/2 which is 1.5 in decimal if you prefer it that way. (the odds can be changed to decimal at all bookies). Then your £20 free bets which come as 4 £5 bets are valid for 4 days I would use them all on the same football match and treat it as one £20 free bet.
The Back Bet:
So first we need to find that football match that is over 1.5 odds. Preferably as close to 1.5 as possible. Once you have found it, remember what match it was and the odds, note them down if you need to and then head over to Smarkets to find the same match. With Smarkets you should look for the Blue colored odds like the below odds of 1.95 on Liverpool to win the champions league.
Try and make sure the back odds between the match on Ladbrokes and the same match on Smarkets are as close as possible. If the Ladbrokes odds are 1.5 you would look for 1.6 or less on Smarkets.
Once you have found the bets you’re happy with then go and check on the free calculator here. Let’s say the odds were 1.5 for example. and enter the £5 and the odds. The back commission is Zero. Place your Back Bet at Ladbrokes on that match and that’s the first part complete
The Lay Bet:
Now let’s say the same match over on Smarkets has Lay odds of 1.55. Go and put those odds into the calculator and a Lay commission of 2%, this is the commission Smarkets charges. You will now see that no matter what the result win, lose or draw you will lose around 20 Pence. You will also see a Lay stake required. This is the amount that needs to be in your exchange in order to place the bet. In this case, it was £4.90.
Losing 20 pence is no big deal and you will nearly always lose on the first bet. However, this has just gained you £20 in free bets. Once you have entered all of this into the calculator and you are happy it’s correct then go ahead and place your lay bet at Smarkets. Remember its the blue odds tabs your interested in. Make sure you have that Lay Stake available in your account.
That’s it. The back bet and the lay bet has been placed so just await the outcome. If your back bet wins you lose 19 pence but get your free bets. If your lay bet wins you lose 20 pence but get your free bets.
The Free Bets:
When the free bets have been applied just repeat the above process. To make life easier for you I would recommend using the same football match for all 4 free bets. That way the odds should stay the same and you can save yourself time looking for new matches. Remember to keep the odds close and use the calculator. Your free bets should end up netting you around £3.50-4 profit each so around the £15 profit mark.
You will get quicker the more bets you place. I can place 4 or 5 bets and make a £10 profit in less than 20 minutes. If of course, you are still a little confused then I would absolutely recommend Profitaccumulator.com They offer free trials and have a dedicated team ready to answer any questions no matter how silly you think they are.
They also offer forums and full guides to your first matched bets as well as getting free bets out of more than 70 bookies. I have made a lot of money with these guys help and they also offer a free trial so what have you got to lose. If your unsure even after reading my short guide then please check out the link and see how they can help you earn an extra income each month.
Of course as always if you have any questions then feel free to leave a comment or email me and I will responds as soon as possible.