Why online bookmakers offer bonuses and free bets?
The betting market is super competitive and online bookmakers offer bonuses and free bets to attract new customers, tempt existing ones to bet more often, but also to reactivate dormant accounts.
Is matched betting legal?
Yes, matched betting is legal and Graham Sharpe, spokesperson for leading UK bookmaker William Hill, interviewed by The Telegraph said the betting industry does not have a problem with matched betting: "There's no illegal element. It's a free bet and you can do what you like."
Can I open multiple accounts?
No you can’t. It’s perfectly fine as a player and potentially long term customer to take advantage of sign up offers bookmakers use to entice you, but avoid have your account linked to other accounts as bookmakers check computer IPs, cookies, addresses, but also who is placing the same bets, at the same time, and will ultimately confiscate winnings (and some time deposits) if they suspect you are a bonus abuser.
What about opening an account in my wife/husband’s name?
Most online bookmakers allow only one promotion per household, however there are some betting sites that don’t have restrictions. Always check the bookmaker and promotion’s terms and conditions. MatchedBetting.com does not support nor condone bonus abuse. Having said that, use your ingenuity to repeat offers that are partner friendly or show your friends how to do matched betting.
What do I need to do to get started?
All you need is a bank account with a debit or credit card, access to your own computer or laptop, copy of your passport (or driver’s license or national ID), copy of a utility bill less than 3 months old and ideally (although not necessary) an email address just for matched betting.
How much money do I need to get started?
If you are completely new to matched betting, we recommend you start from the beginner offers using small stakes. Realistically you only need £100 to place a qualifying bet and cover your liability on a betting exchange. Once you feel comfortable with matched betting and have successfully completed the first few offers, you may want to consider adding to your bankroll (which at this point should have increased anyway from winnings) to be able to tackle more than one offer at the same time and for larger amounts (think £200 offers rather than £25).
How much money can I make?
If you are based in the UK, you can realistically earn £1000-£1500 from sign up offers and another £500-£700 every month from specials and reloads. If you are based in another country, the amount will vary depending on the amount of bookmakers that you will be able to access. Discipline and access to up-to-date information and new promotions guarantees that some matched bettor make more money that others.
Will I run out of bookmaker sign-up offers?
New bookmakers launch weekly offering very generous sign up offers meant to take your business away from existing sites and as long as you maintain your betting accounts in good order, you will be able to use the matched betting technique to continue profit from regular reload offer as well as specials offers related to specific sport events.
Do existing customers receive promotions?
Of course, the majority of all bookmakers offer bonuses to customers that reload their accounts (deposit money into an existing account) as well as offer special promotions in connection with major sporting events.
How much time should I put into matched betting?
It’s completely up to you, but at the very least 20 minutes per day and a couple of hours on Friday or Saturday. MatchedBetting.com can help you work smarter rather than harder.
Are there any risks in matched betting?
Yes there are and they include human error and some factors not under our control. Human errors include depositing money using a forbidden payment method, claiming a free bet after it already expired or from a country where the promotion is not available, but especially placing a bet on the wrong market or for the wrong amount. Risk factors not under our control include rogue bookmakers disappearing with player funds and technical issues like losing the internet connection and being unable to match a back bet with a lay bet.
A bookmaker has restricted/limited/cancelled my account, what should I do?
Nothing. Bookmakers don’t like losing and certainly don’t like losing to advantage players.
For this reason they employ specialists or use the services of third party software with the ability to asses the risks associated with each betting account and specifically with certain betting patterns. If a bookmakers feels your account represents a risk to their finances they will justify low bet limits or the account suspension/closure as an irreversible trading decision. Read our tutorial on how to keep a betting account in good order.
Which sports are best for matched betting?
Football/soccer is certainly the best sport for matched betting, especially if you are starting out. Horse racing is another very popular sport with matched bettors, although odds can move very fast near the start of the race.
How do I deposit money into my betting accounts?
We recommend you use a debit/credit card for your matched betting activities as online bookmakers often tend to exclude deposits made using Skrill, Neteller and other ewallets from being eligible for sports betting promotions.
What is Skrill? And Neteller?
Skrill and Neteller are online payment systems, specialized in providing ewallets for the online gambling industry. You can use them to quickly deposit and withdraw funds to/from your online bookmakers accounts, although ewallet deposits are typically excluded from being eligible for sports betting promotions.
Are the promotions available only to UK players? Can I do matched betting from another country?
Of course, although the total number of offers available to non-UK players may not be as large as the ones available to UK residents. Unlike other matched betting membership sites, MatchedBetting.com collects information about sports betting promotions from online bookmakers all over the world, not just UK-facing ones. If you are doing matched betting from another country, just make sure to choose bookmakers offers that are available in your country of residence.
I’ve placed the wrong bet. Can I cancel it?
Bookmakers won’t allow you to cancel a bet once it has been accepted. However if you have placed a wrong bet, you can rectify the error by placing an opposite bet on a betting exchange.
Read this tutorial to learn how to offset a wrong bet.
The odds have changed after I placed my bet. Will my winnings be calculated using the new odds?
Absolutely not. Odds change all the time, but once a bet has been accepted, it will be paid at the confirmed odds. An exception to this would be horse racing where when a horses retire before a race and a Non-Runner is declared, bookmaker and betting exchange odds are likely to be adjusted.
My lay bet on Betfair was only partially matched, what should I do?
If your lay bet is partially matched and the odds have moved away making unlikely that it will be fully matched, you need to cancel the existing lay bet and recalculate the stake and liability using the Trickybet calculator before placing a new lay bet at the new odds. Read this tutorial and watch this video to learn how to deal with unmatched bets.
Is matched betting the same as arbitrage betting?
No, matched betting as a concept derives from arbitrage betting, but while for matched bettors finding events where a matched bet will generate a small loss is acceptable (since the goal is to profit from the free money offered by bookmakers), arbitrageurs or arbers only bet when they can make a sure profit regardless of the outcome.
What is mug betting?
The Free Dictionary defines a mug punter as a customer who is gullible and easily swindled. In relation to betting, a mug punter can be defined as someone who is hopeless at betting.
Matched bettors however use mug betting to disguise their betting activities and avoid being identified as advantage players or even worse as bonus abusers. By placing a number of bets on the same team, accumulators and on high profile events, matched bettors pass for regular punters (obviously each mug bet is laid off on an exchange to minimize losses). Read our tutorial on mug betting to learn how to place bets that help keep your account in good order.
If matched betting is so easy, why isn't everyone doing it?
According to our market research, in the UK alone there are up to 30,000 people profiting from matched betting at various levels. That's not everyone, but more and more people, including many with no interest whatsoever in betting and/or sports are joining the matched betting ranks on a daily basis.
Will matched betting affect my credit rating?
Not it won’t as the majority of online bookmakers will not perform a credit check. They may perform a soft credit check as part of their KYC procedure to verify you are who you say you are, but soft credit checks will not affect your ability to get credit.
Do I have to pay taxes on the money I make from matched betting?
We are not tax experts, but we understand that in most countries profits made any form of betting are tax free unless they are your only source of income. If you want to be sure, you need to speak to a tax advisor in your country.
If you have any further questions, please feel free to contact us.