Matched betting does not take to fools lightly and if you’re a gambler looking to ‘get rich quick’ then matched betting may not be for you. This is because matched betting is a methodical process of extracting free cash from introductory bookmaker offers.

Join a Betting Exchange

Betfair and other betting exchanges are crucial to matched betting. Betting exchanges allow you to cancel out your risk betting at the bookmakers. A betting exchange provides you with a service so that you can set your own odds for a particular outcome of a sports event. A betting exchange allows you to act as both punter and bookmaker.

Recommended betting exchanges

The most popular betting exchange is Betfair and is highly recommended. Other betting exchanges include Betdaq, WBX and Betmate. We recommend that the first action you take is to sign up to Betfair or Betdaq to understand how to place a back or lay bet. You’ll then be in a great position to extract their free bet incentives.

To claim a £25 free bet from Betfair you must open an account with them and bet (or lay) at least £25 of your own money. Most matched bettors start off by depositing £50 to £200*. That’s a potential £25 earnt through matched betting already. All that you must do now is place a matched bet at a bookmaker to extract the £25 free cash.

* For the purposes of this guide it is assumed that a deposit of £200 has been made into Betfair.

Choose a Free Bet

Free bets often range from £10 to £50 but don’t be surprised to see free bets go up to £100 or even £250 in some instances. It is the responsibility of the Matched Bettor to extract all such incentives without falling for the lure of gambling.

To extract a free bet the Matched Bettor is required to make two separate bets – one after the other. The first bet is known as a qualifying bet and the second is known as a free bet. Typically, matched bettors will also come across two types of free bets – Stake Returned and Stake Not Returned.

The most popular free bets are Stake Returned Free Bets (SR) offered by the likes of Betdaq, Betfair, Coral, Eurobet, Jaxx and Sportingbet.

Having signed up to Betfair the next step is to grab the £25 free bet on offer with bookmaker Jaxx (for example). Similar to the sign up process with Betfair, click through to Jaxx then read the terms and conditions of the £25 free bet offer. Sign up and deposit the amount specified. Once you’ve placed your qualifying bet you will receive the £25 free bet from Jaxx.

Find the Best Odds

Bookmakers in the UK use fractional odds (e.g. 3/1). A punter who accepts odds of 3/1 means they are prepared to risk £1 to win £3 from the bookmaker. When you win with fractional odds you also receive back your stake. So, if you risked £1 at odds of 3/1, and then win, you will receive £3 plus your original £1 stake. That’s a total of £4 a bookmaker gives back to the winning punter (at fractional odds of 3/1).

On the other hand, betting exchanges prefer to use decimal odds as they are easier for most people to understand. Decimal odds differ because they include your original stake as part of your winnings. Fractional odds of 3/1 represent 4 in decimal odds. To calculate your winnings you just multiply your original stake (£1) by the decimal odds (4). That’s a total of £4 a bookmaker on the betting exchange gives back to the winning punter (at decimal odds of 4).

The advantage of decimal odds is that they are much easier to compare quickly. Which would you prefer to use… fractional odds of 3/1 and 11/10 or decimal odds of 4 and 2.1?

Example

Manchester United are to play Arsenal and you have decided in advance to find best odds to Matched Bet with on this sports event. The latest odds show that Jaxx are offering Manchester United to win at 2/1 (3 in decimal odds). For matched betting to work you must now find lay odds on Betfair which are less than or as close to 3 as possible. The final task is to scan for the latest Betfair odds for Manchester United to lose. You find lay odds of 9/5 (2.8 in decimal odds) being offered and you decide this is your best chance to matched bet.

Double check

Use our Matched Betting Calculator to check you’ve found the correct odds to match bet. Inputting the above example would result in a qualifying bet which results in a £0.91 profit – irrespective of the Manchester United/Arsenal result. Once satisfied you have found reasonable odds you are now ready to place a qualifying bet to extract the £25 free bet on offer at Jaxx.

Place a Qualifying Bet

Place a qualifying bet first in order to receive the free bet offer from the bookmaker. Qualifying bets are put in place by bookmakers and betting exchanges alike to ensure that you are a genuine punter. Qualifying bets are also seen as the first test of your patience and determination to extract the free bet incentives.

The qualifying bet

Using the Manchester United/Arsenal match odds, first place a £25 bet at Jaxx.com accepting odds of 2/1 on Manchester United to win using the £25 you deposited at the time of sign up. Second, place a £27.27 lay at Betfair accepting odds of 2.8 on Manchester United. This equates to risking £49.09 (£27.27 x 1.8) of the £200 you deposited at the time of signing up to Betfair. All figures in this paragraph are generated using our free Matched Betting Calculator.

Congratulations, that’s your qualifying bet done. You have just covered all possible outcomes of the Manchester United/Arsenal match!! Sit back and enjoy the game knowing that you’re going to win irrespective of the result.

The potential outcomes

If Manchester United win… you will win £75 (including your £25 stake returned) from Jaxx but lose (-) £49.09 at Betfair (End result equals £0.91 profit plus a £25 free bet from Jaxx and a £25 free bet from Betfair).

If Manchester United draw * or lose.. you will lose (-) £25 at Jaxx.com and win £27.27 at Betfair less (-) 5% commission at £1.36 (End result equals £0.91 profit plus a £25 free bet from Jaxx and a £25 free bet from Betfair).

* For the purposes of this guide it is assumed that the Manchester United/Arsenal match resulted in a draw. Your Jaxx balance now stands at £0 but you will have a £25 free bet credited to your account. Your Betfair balance now stands at £225.91 as you made £25.91 from your winning lay bet.

The outcome

The end result of this qualifying bet was a £0.91 profit and to receive two £25 free bets – one from Jaxx and one from Betfair. This was achieved knowing that a guaranteed profit would occur irrespective of the Manchester United/Arsenal result. The last steps are to match bet your free bets from Jaxx and Betfair and to extract your winnings into a bank acount of your choice.

Place your Free Bet

Free bets are the Matched Bettors reward for their patience and determination. Similar to qualifying bets, free bets must be completed by: adhering to the terms and conditions of the free bet, finding the best odds, placing a back bet then placing a lay bet. However, it is important to calculate the correct back and lay amounts before placing your free bet.

To achieve this you must update our free matched betting calculato to denote whether you are using a Stake Returned free bet or Stake Not Returned free bet. As Jaxx and Betfair are both Stake Returned you’ll enter £50 in the ‘Of which free :’ cell (if the free bets were Stake Not Returned you would need to enter the approriate amount in the ‘Stake forfeit :’ cell instead).

Example

Chelsea are to play Tottenham in the FA Cup and you have decided in advance to find best odds to match bet your Jaxx £25 free bet on this sports event. The latest odds show that Jaxx are offering Chelsea at 5/1 to win 1-0 (6 in decimal odds). For matched betting to work you must now find lay odds on Betfair which are less than or as close to 6 as possible (i.e. Chelsea NOT to win 1-0). You also find lay odds of 5/1 (6 in decimal odds) being offered and you decide this is your best chance to match bet your free bet.

The free bet

Using the Chelsea/Tottenham FA cup match odds, first place your £25 free bet at Jaxx accepting odds of 5/1 on Chelsea to win 1-0. Second, place a £25.21 lay at Betfair accepting odds of 6 on Chelsea to win 1-0. This equates to risking £126.05 (£23.95 x 5) from your Betfair account – £25 of which is free remember! All figures in this paragraph are generated using our free Matched Betting Calculator.

Congratulations, that’s your 2 x £25 free bets done. You have just covered all possible outcomes of the Chelsea/Tottenham FA cup match.

The potential outcomes

If Chelsea win 1-0… you will win £150 from Jaxx but lose (-) £101.05 at Betfair (End result equals £48.95 profit).

If Chelsea do not win 1-0 *… you will lose nothing at Jaxx and win £25.51 at Betfair (plus your £25 free cash) less (-) 5% commission at £1.26 (End result equals £48.95 profit).

The outcome

Having found the best odds on this sports event, placed your £25 free bet at Jaxx and placed an appropriate lay bet at Betfair the end result will always be the same – you will have covered every possible outcome of the sports event and will stand to make a profit.

* For the purposes of this guide it is assumed that the Chelsea/Tottenham match resulted in a 2-0 win to Chelsea. Your Jaxx balance now stands at £0. Your Betfair balance stands at £274.86 as you made £48.95 from your winning lay bet (having had a prior balance of £225.91).

Collect your winnings

Congratulations on achieving your first full matched bet! You are now ready to collect your deserved winnings.

You have earnt the following:

• £0.91 profit from a qualifying bet, plus
• £23.95 winnings from a £25 free bet at Jaxx, plus
• £25 winnings from a £25 free bet at Betfair.

That makes a total profit of £49.86. You made profits of £0.91 from the qualifying bet, £23.95 from the £25 free bet at Jaxx and £25 from the free bet at Betfair. You started off originally with a float of £25 in Jaxx and £200 in Betfair. Your Jaxx balance after placing the free bet is £0 but your Betfair balance is now £274.86.

An accumulator bet (also known as a parlay bet) is a single bet which consists of two or more selections. In order to win an accumulator bet all of the selections must win. For example, if an accumulator bet consists of three selections (known as a treble accumulator) and all three selections win then the punter wins. If any of the three selections fails to win then the accumulator bet loses – irrespective of the other two results. An accumulator bet ensures that the overall odds on offer are significantly higher than that of three individually priced bets.

Placing an accumulator bet

Need to place an accumulator bet? Our guide to placing an accumulator bet below explains exactly what an accumulator bet is and demonstrates how you can make an accumulator bet yourself.

In order to place an accumulator bet you must sign up to a bookmaker such as bet365.co.uk or a betting exchange such as Betfair.com or Betdaq.co.uk. Choose the events you wish to bet on then select the amount you’d like to wager / risk before placing the bet.

If the first selection wins then its odds are multiplied by the stake – just like a normal bet. However, these potential winnings are then used to calculate the potential winnings if selection number two also comes home as predicted. Instead of having the original stake going onto the second selection – you actually have the entire winnings from the first selection going onto the second selection! It’s this method of accumulation which ensures that the overall winnings of three selections is a lot higher than three individually placed bets.

In the example below, one lucky punter, Steve Whiteley, 61, chose to bet £2.00 on six horse races in a sixfold accumulator. Each of the six horses won their respective races and the punter walked away with a record £1.4 million win. Steve picked all six winners in the Tote jackpot at Exeter racecourse on Tuesday, 8th March 2011 (see race results).

What is an Accumulator Bet?

Types of Accumulator Bets

Accumulator bets are named after the number of selections chosen within the accumulator. For instance, a double accumulator is a single bet which consists of 2 selections which must both win in order for the accumulator to be successful. A treble accumulator requires 3 selections to win in order for the accumulator to be successful. There are also fourfold, fivefold, sixfold and sevenfold accumulator bets which each require a greater amount of selections to win to be successful. With each accumulator, each of your selections must win for you to receive any return.

Need more advice on what an accumulator bet is? If so .. feel free to leave us your thoughts, questions and comments to what a lay bet is using the form below.

A Lay Bet, also known as laying a bet or betting against a selection, means you are prepared to bet on an outcome of an event that you believe will not happen.

For instance, Manchester United are playing Barcelona in the European Cup Final and you believe it will not be a Draw come the final whistle. You will therefore place a Lay Bet on the Draw not to occur. If the end result is a win for either Manchester United or Barcelona then your lay bet prediction has come true (i.e. not the Draw) and you will have won your bet.

Although a lay bet sounds like a brand new betting method – people have in fact been laying bets unconsciously for hundreds, if not thousands, of years. By making a prediction that Manchester United will win, for example, you are unconsiously laying the remaining outcomes – the Draw and a Barcleona win.

Making a lay bet is often about making a choice between risk and reward. If the odds of laying a Draw were low then you could expect to win or lose the amount you bet. If the odds of laying a Draw are high then you must be prepared to risk losing a larger amount if in fact a Draw is the end result.

Placing a lay bet

Need to place a lay bet? Our guide to placing a lay bet below explains exactly what a lay bet is and demonstrates how you can make a lay bet yourself.

In order to place a lay bet you must sign up to a betting exchange such as Betfair.com or Betdaq.co.uk. Choose the event you wish to lay and select the amount you’d like to wager / risk before placing the bet.

With a betting exchange such as Betfair, as shown in the image below, you can lay any selection and choose the odds you want to take.

In our example (click the image below to enlarge), we’ve chosen to lay the horse Equity Card ridden by Frankie Detori during the 14:30 7 furlong maiden stakes horse race at Kemption Park at odds of 2.8. By placing a lay bet with a stake of £100 we will win £100 if Equity Card loses the race. However, we will stand to lose (also referred to as liability) £180 if Equity Card does in fact win the race.

What is a Lay Bet?

There are many reasons why people want to place a lay bet. Some find it easier to pick an outcome that they don’t think will happen. This is because there may be a belief that one of the other results is more likely to occur instead. Some people lay a bet then go on to back the same selection once the price has moved in order to lock in a potential profit irrespective of the result (also referred to as trading or green up).

Placing a Lay Bet is also a crucial concept of Matched Betting. Matched Betting is a technique used to extract profit from bookmaker free bet offers by both backing and laying the exact same sport event. You too can make serious amounts of money (often hundreds of pounds) by following our free Guide to Matched Betting. Therefore, understanding what is a lay bet is can enable a regular punter to make a serious amount of money from betting online.

Need more advice on what a lay bet is? If so .. feel free to leave us your thoughts, questions and comments to what a lay bet is using the form below.

Matched Betting Results

Bookmaker: Stan James UK

• Qualifier Bet:
  Yeovil v Nottingham Forest, Bet -£25.00 Draw at Stan James UK (Odds of 3.2)
• Matched Bet:
  Yeovil v Nottingham Forest, Lay -£24.62 Home Win / Away Win at Betfair (Odds of 3.3)
• Outcome:
  -£1.62 Home Win / Away Win at Betfair (Odds of 3.3)

• Free Bet:
  Watford v Newcastle, Bet Free £25.00 Bet Watford / Watford at Stan James UK (Odds of 5.5)
• Matched Bet:
  Watford v Newcastle, Lay -£20.64 Not Watford / Watford at Betfair (Odds of 5.5)
• Outcome:
  £19.61 Not Watford / Watford at Betfair (Odds of 5.5)

Total = £17.99
(Cumulative Profit = £280.79)

Bookmaker: Sunderlands

• Qualifier Bet:
  West Brom v Wolves, Bet -£25.00 Over 2.5 goals at Sunderlands (Odds of 2)
• Matched Bet:
  West Brom v Wolves, Lay -£26.18 Not Over 2.5 goals at Betfair (Odds of 1.96)
• Outcome:
  -£0.13 Not Over 2.5 goals at Betfair (Odds of 1.96)

• Free Bet:
  Lincoln v Bristol Rovers, Bet Free £25.00 Cash Away Win at Sunderlands (Odds of 3.2)
• Matched Bet:
  Lincoln v Bristol Rovers, Lay -£56.25 Home Win / Draw at Betfair (Odds of 3.25)
• Outcome:
  £23.75 Away Win at Sunderlands (Odds of 3.2)

• Qualifier Bet:
  Lincoln v Bristol Rovers, Bet -£25.00 Away Win at Sunderlands (Odds of 3.2)
• Matched Bet:
  Lincoln v Bristol Rovers, Lay -£56.25 Home Win / Draw at Betfair (Odds of 3.25)
• Outcome:
  -£1.25 Away Win at Sunderlands (Odds of 3.2)

• Qualifier Bet:
  Sampdoria v Catania, Bet -£25.00 Away Win at Sunderlands (Odds of 2.5)
• Matched Bet:
  Sampdoria v Catania, Lay -£25.51 Home Win / Draw at Betfair (Odds of 2.5)
• Outcome:
  £0.72 Home Win / Draw at Betfair (Odds of 2.5)

• Qualifier Bet:
  Palermo v Siena, Bet -£25.00 Home Win at Sunderlands (Odds of 2.4)
• Matched Bet:
  Palermo v Siena, Lay -£34.67 Away Win / Draw at Betfair (Odds of 2.3)
• Outcome:
  £0.33 Home Win at Sunderlands (Odds of 2.4)

• Qualifier Bet:
  Palermo v Siena, Bet -£25.00 Home Win at Sunderlands (Odds of 2.4)
• Matched Bet:
  Palermo v Siena, Lay -£35.32 Away Win / Draw at Betfair (Odds of 2.36)
• outcome:
  -£0.32 Home Win at Sunderlands (Odds of 2.4)

• Qualifier Bet:
  Palermo v Siena, Bet -£85.00 Home Win at Sunderlands (Odds of 2.4)
• Matched Bet:
  Palermo v Siena, Lay -£118.63 Away Win / Draw at Betfair (Odds of 2.32)
• Outcome:
  £0.37 Home Win at Sunderlands (Odds of 2.4)

Total = £23.47
(Cumulative Profit = £304.26)

Bookmaker: Blue Square

• Qualifier Bet:
  Stuttgart v Energie Cottbus, Bet -£25.00 Home Win at Blue Square (Odds of 1.17)
• Matched Bet:
  Stuttgart v Energie Cottbus, Lay -£4.88 Away Win / Draw at Betfair (Odds of 1.19)
• Outcome:
  -£0.71 Home Win at Blue Square (Odds of 1.17)

• Free Bet:
  Chelsea v Man United, Bet Free £25.00 Bet 0-1 at Blue Square (Odds of 8.00)
• Matched Bet:
  Chelsea v Man United, Lay -£19.55 Not 0-1 at Betfair (Odds of 9.00)
• Outcome:
  £18.57 Not 0-1 at Betfair (Odds of 9)

Total = £17.86
(Cumulative Profit = £322.12)

Bookmaker: UK Betting

• Qualifier Bet:
  Lincoln v Bristol Rovers, Bet -£10.00 Away Win at UK Betting (Odds of 3.25)
• Matched Bet:
  Lincoln v Bristol Rovers, Lay -£22.70 Home Win / Draw at Betfair (Odds of 3.2)
• Outcome:
  -£0.20 Away Win at UK Betting (Odds of 3.25)

• Qualifier 1/2/3:
  Lincoln v Bristol Rovers, Bet -£30.00 Away Win at UK Betting (Odds of 3.25)
• Matched Bet:
  Lincoln v Bristol Rovers, Lay -£68.09 Home Win / Draw at Betfair (Odds of 3.2)
• Outcome:
  -£0.59 Away Win at UK Betting (Odds of 3.25)

• Qualifier 4/5:
  Lincoln v Bristol Rovers, Bet -£20.00 Away Win at UK Betting (Odds of 3.25)
• Matched Bet:
  Lincoln v Bristol Rovers, Lay -£45.09 Home Win / Draw at Betfair (Odds of 3.15)
• Outcome
  -£0.09 Away Win at UK Betting (Odds of 3.25)

• Free Bet:
  MK Dons v Shrewsbury, Bet Free £10.00 Bet Shrewsbury / Shrewsbury HT/FT at UK Betting (Odds of 8.00)
• Matched Bet:
  MK Dons v Shrewsbury, Lay -£8.00 Not Shrewsbury / Shrewsbury HT/FT at Betfair (Odds of 8.6)
• Outcome:
  £7.60 Not Shrewsbury / Shrewsbury HT/FT at Betfair (Odds of 8.6)

• Free Bet:
  Chelsea v Man United, Bet Free £15.00 Bet Chelsea / Man United HT/FT at UK Betting (Odds of 34)
• Matched Bet:
  Chelsea v Man United, Lay -£15.49 Not Chelsea / Man United HT/FT at Betfair (Odds of 32)
• Outcome:
  £14.72 Not Chelsea / Man United HT/FT at Betfair (Odds of 32)

Total = £21.44
(Cumulative Profit = £343.56)

Bookmaker: Eurobet

• Qualifier Bet:
  Gimnasia Jujuy v Belgrano, Bet -£97.00 Away Win at Eurobet (Odds of 4.25)
• Matched Bet:
  Gimnasia Jujuy v Belgrano, Lay -£101.79 Home Win / Draw at Betfair (Odds of 4.1)
• Outcome:
  -£0.30 Home Win / Draw at Betfair (Odds of 4.1)

• Bet:
  Gimnasia Jujuy v Belgrano, Bet -£3.00 Away Win at Eurobet (Odds of 4.25)
• Matched Bet:
  Gimnasia Jujuy v Belgrano, Lay -£3.23 Home Win / Draw at Betfair (Odds of 4)
• Outcome:
  £0.07 Home Win / Draw at Betfair (Odds of 4)

• Free Bet:
  Elfsborg v IFK Goteborg, Bet Free £20.00 Bet 1-1 at Eurobet (Odds of 6.5)
• Matched Bet:
  Elfsborg v IFK Goteborg, Lay -£15.83 Not 1-1 at Betfair (Odds of 7)
• Outcome:
  £15.04 Not 1-1 at Betfair (Odds of 7)

Total = £14.81
(Cumulative Profit = £358.37)

Bookmaker: Skybet

• Qualifier Bet:
  AC Milan v Liverpool, Bet -£20.00 AC Milan/Draw HT / FT at Sky Bet (Odds of 17)
• Matched Bet:
  AC Milan v Liverpool, Lay -£20.67 Not AC Milan/Draw HT / FT at Betfair (Odds of 16.5)
• Outcome:
  -£0.36 Not AC Milan/Draw HT / FT at Betfair (Odds of 16.5)

• Free Bet:
  Real Madrid v Deportivo, Bet Free £20.00 Bet 2-1 at Sky Bet (Odds of 10)
• Matched Bet:
  Real Madrid v Deportivo, Lay -£17.22 Not 2-1 at Betfair (Odds of 10.5)
• Outcome:
  £16.36 Not 2-1 at Betfair (Odds of 10.5)

• Free Bet:
  Real Madrid v Deportivo, Bet -£15.00 2-1 at Sky Bet (Odds of 10)
• Matched Bet:
  Real Madrid v Deportivo, Lay -£16.39 Not 2-1 at Betfair (Odds of 9.2)
• Outcome:
  £0.57 Not 2-1 at Betfair (Odds of 9.2)

• Qualifier Bet:
  Sweden v Latvia, Bet -£5.00 Home Win at Sky Bet (Odds of 1.25)
• Matched Bet:
  Sweden v Latvia, Lay -£1.30 Away Win / Draw at Betdaq (Odds of 1.25)
• Outcome:
  -£0.05 Home Win at Sky Bet (Odds of 1.25)

• Free Bet:
  Belarus v Netherlands, Bet Free £5.00 Bet HT / FT Belarus/Belarus at Sky Bet (Odds of 9)
• Matched Bet:
  Belarus v Netherlands, Lay -£4.19 Not HT / FT Belarus/Belarus at Betdaq (Odds of 9.6)
• Outcome:
  £3.95 Not HT / FT Belarus/Belarus at Betdaq (Odds of 9.6)

• Free Bet:
  Southampton v Blackpool, Bet Free £10.00 Bet 1-2 at Sky Bet (Odds of 17)
• Matched Bet:
  Southampton v Blackpool, Lay -£9.17 Not 1-2 at Betdaq (Odds of 17.5)
• Outcome:
  £8.71 Not 1-2 at Betdaq (Odds of 17.5)

• Qualifier Bet:
  Porto v Besiktas, Bet -£25.00 Home Win at Sky Bet (Odds of 1.44)
• Matched Bet:
  Porto v Besiktas, Lay -£11.74 Away Win / Draw at Betfair (Odds of 1.46)
• Outcome:
  -£0.63 Home Win at Betfair (Odds of 1.44)

Total = £28.55
(Cumulative Profit = £386.92)

Bookmaker: Betdirect

• Qualifier Bet:
  Trinidad v Guatemala, Bet -£25.00 Away Win at Betdirect (Odds of 2.1)
• Matched Bet:
  Trinidad v Guatemala, Lay -£25.86 Home Win / Draw at Betfair (Odds of 2.08)
• Outcome:
  -£0.43 Home Win / Draw at Betfair (Odds of 2.08)

• Free Bet:
  Real Madrid v Mallorca, Bet Free £25.00 Bet HT/FT Draw / Real Madrid at Betdirect (Odds of 5.5)
• Matched Bet:
  Real Madrid v Mallorca, Lay -£20.64 Not HT/FT Draw / Real Madrid at Betfair (Odds of 5.5)
• Outcome:
  £19.61 Not HT/FT Draw / Real Madrid at Betfair (Odds of 5.5)

Total = £19.18
(Cumulative Profit = £406.10)

A total profit of £406.10 within the first four weeks Matched Betting… and I still had a whole bunch of Free Bets to go!

So here I was – about to bet on my first football match. I was sure I was going to fathom out that matched betting was one big hoax and I still remember how nervous I was placing my first bets. I had a lay bet of about £33 tied up at Betfair and a £10 bet on at Coral and I wasn’t in the position where I could just gamble my money away. But it wasn’t until my first bet had settled did I realise the amount of money I could make.

The first four weeks of my Matched Betting journey made me £406.10 richer thanks to the techniques of matched betting free bets. I’ve kept a record of my bets which I’d like to share with you below. Please share this as I’m sure it will inspire other matched bettors to attempt matched betting!

Matched Betting Results

The format below is how I recorded my bets using Excel. Basically, I’ve recorded the Qualifying Bet, Matched Bet and the Outcome per event. Simples.

Bookmaker: Coral

• Qualifier Bet:
  Reading v Newcastle, Bet -£10.00 Away Win at Coral (Odds of 4.33)
• Matched Bet:
  Reading v Newcastle, Lay -£10.43 Home Win / Draw at Betfair (Odds of 4.2)
• Outcome:
  -£0.09 Home Win at Betfair (Odds of 4.2)

• Free Bet:
  John Higgins, Bet Free £10.00 Bet World Snooker Champion Outright at Coral (Odds of 7.5)
• Matched Bet:
  John Higgins, Lay -£66.86 Not World Snooker Champion Outright at Betfair (Odds of 8.8)
• Outcome:
  £8.14 World Snooker Champion Outright at Coral (Odds of 7.5)

• Bet:
  Caliari v Roma, Bet -£30.00 Home Win at Coral (Odds of 1.61)
• Matched Bet:
  Caliari v Roma, Lay -£18.38 Away Win / Draw at Betfair (Odds of 1.58)
• Outcome:
  £0.10 Home Win at Coral (Odds of 1.61)

• Bet:
  Caliari v Roma, Bet -£30.00 Home Win at Coral (Odds of 1.61)
• Matched Bet:
  Caliari v Roma, Lay -£18.38 Away Win / Draw at Betfair (Odds of 1.58)
• Outcome:
  £0.10 Home Win at Coral (Odds of 1.61)

• Qualifier Bet:
  Celtic v Dunfermline, Bet -£5.00 Home Win at Coral (Odds of 1.286)
• Matched Bet:
  Celtic v Dunfermline, Lay £0 Unmatched at Betfair (Odds of 0)
• Outcome:
  £1.43 Home Win at Coral (Odds of 1.286)

• Free Bet:
  Sivasspor v Erciyesspo, Bet Free £5.00 Bet Home Win at Coral (Odds of 4.5)
• Matched Bet:
  Sivasspor v Erciyesspo, Lay -£16.26 Away Win / Draw at Betfair (Odds of 4.1)
• Outcome:
  £6.24 Home Win at Coral (Odds of 4.5)

• Bet:
  Sivasspor v Erciyesspo, Bet -£20.00 Home Win at Coral (Odds of 4.5)
• Matched Bet:
  Sivasspor v Erciyesspo, Lay -£68.88 Away Win / Draw at Betfair (Odds of 4)
• Outcome:
  £1.12 Home Win at Coral (Odds of 4.5)

• Qualifier Bet:
  Georgia v Lithuania, Bet -£5.00 Home Win at Coral (Odds of 2)
• Matched Bet:
  Georgia v Lithuania, Lay -£4.59 Away Win / Draw at Betdaq (Odds of 2.12)
• Outcome:
  £-0.41 Away Win / Draw at Betdaq (Odds of 2.12)

• Free Bet:
  England v Croatia, Bet Free £5.00 Bet HT/FT Croatia / England at Coral (Odds of 29)
• Matched Bet:
  England v Croatia, Lay -£4.67 Not HT/FT Croatia / England at Betdaq (Odds of 30)
• Outcome:
  £4.44 Not HT/FT Croatia / England at Betdaq (Odds of 30)

Total = £21.07

At the time, the Coral Free Bet was a £10 free bet offer. My initial bet at Coral won so in order to extract the free bet amount I had to place a further £60 of bets to meet the terms and conditions of the £10 free bet amount. I was also offered a couple of £5.00 free bets which I Matched Bet with during the first month as a new Coral customer.

Betting Exchange: Betfair

• Free Bet:
  £25 Free Bet extracted during the Coral Qualifying Bet

Total = £25.00
(Cumulative Profit = £46.07)

Bookmaker: Paddy Power

• Qualifier Bet:
  Crystal Palace v Derby, Bet -£10.00 Home Win at PaddyPower (Odds of 3.2)
• Matched Bet:
  Crystal Palace v Derby, Lay -£22.50 Away Win / Draw at Betfair (Odds of 3.25)
• Outcome:
  -£0.50 Home Win at PaddyPower (Odds of 3.2)

• Free Bet:
  Celtic v Hearts, Bet Free £10.00 Bet Away Win at PaddyPower (Odds of 5.5)
• Matched Bet:
  Celtic v Hearts, Lay -£38.05 Home Win / Draw at Betfair (Odds of 6.2)
• Outcome:
  £6.95 Away Win at PaddyPower (Odds of 5.5)

Total = £6.45
(Cumulative Profit = £52.52)

Bookmaker: ToteSport

• Qualifier Bet:
  AC Milan v Man United, Bet -£25.00 Home Win at ToteSport (Odds of 2.2)
• Matched Bet:
  AC Milan v Man United, Lay -£31.78 Away Win / Draw at Betfair (Odds of 2.3)
• Outcome:
  -£1.78 Home Win at ToteSport (Odds of 2.2)

• Free Bet:
  Man City v Man United, Bet Free £25.00 Bet 0-1 at ToteSport (Odds of 7)
• Matched Bet:
  Man City v Man United, Lay -£130.07 Not 0-1 at Betfair (Odds of 7.2)
• Outcome:
  £19.93 0-1 at ToteSport (Odds of 7)

Total = £18.15
(Cumulative Profit = £70.67)

Bookmaker: Ladbrokes

• Qualifier Bet:
  Liverpool v Chelsea, Bet -£40.00 Liverpool/Liverpool at Ladbrokes (Odds of 4.33)
• Matched Bet:
  Liverpool v Chelsea, Lay -£135.37 Not Liverpool/Liverpool at Betfair (Odds of 4.4)
• Outcome:
  -£2.17 Liverpool/Liverpool at Ladbrokes (Odds of 4.33)

• Free Bet:
  Matthew Stephens, Bet Free £40.00 Bet WC Outright at Ladbrokes (Odds of 5.5)
• Matched Bet:
  Matthew Stephens, Lay -£31.86 Not WC Outright at Betfair (Odds of 5.7)
• Outcome:
  £30.27 Not WC Outright at Betfair (Odds of 5.7)

Total = £28.10
(Cumulative Profit = £98.77)

Bookmaker: Betinternet

• Qualifier Bet:
  Tiger Woods, Bet -£50.00 Wachovia Championship Winner at Betinternet (Odds of 4)
• Matched Bet:
  Tiger Woods, Lay -£151.9 Not Wachovia Championship Winner at Betfair (Odds of 4)
• Outcome:
  -£1.9 Wachovia Championship Winner at Betinternet (Odds of 4)

• Free Bet:
  Oldham v Blackpool, Bet Free £25.00 Bet Blackpool 2-1 at Betinternet (Odds of 12)
• Matched Bet:
  Oldham v Blackpool, Lay -£254.04 Not Blackpool 2-1 at Betfair (Odds of 12.5)
• Outcome:
  £20.96 Blackpool 2-1 at Betinternet (Odds of 12)

Total = £19.06
(Cumulative Profit = £117.83)

Bookmaker: VC Bet

• Qualifier Bet:
  Fulham v Liverpool, Bet -£50.00 Home Win at VC Bet UK (Odds of 2.75)
• Matched Bet:
  Fulham v Liverpool, Lay -£89.65 Away Win / Draw at Betfair (Odds of 2.78)
• Outcome:
  -£2.15 Home Win at VC Bet UK (Odds of 2.75)

• Free Bet:
  Chelsea v Man United, Bet Free £50.00 Bet 1-0 at VC Bet UK (Odds of 7.5)
• Matched Bet:
  Chelsea v Man United, Lay -£39.88 Not 1-0 at Betfair (Odds of 8.2)
• Outcome:
  £37.88 Not 1-0 at Betfair (Odds of 8.2)

Total = £35.73
(Cumulative Profit = £153.56)

Bookmaker: Betfred

• Qualifier Bet:
  Newcastle v Blackburn, Bet -£25.00 Draw at Betfred (Odds of 3.4)
• Matched Bet:
  Newcastle v Blackburn, Lay -£25.00 Home Win / Away Win at Betfair (Odds of 3.45)
• Outcome:
  -£1.05 Home Win / Away Win at Betfair (Odds of 3.4)

• Free Bet:
  Hearts v Aberdeen, Bet Free £25.00 Bet 0-1 at Betfred (Odds of 9.5)
• Matched Bet:
  Hearts v Aberdeen, Lay -£20.33 Not 0-1 at Betfair (Odds of 10.5)
• Outcome:
  £19.32 Not 0-1 at Betfair (Odds of 10.5)

• Bet:
  Man United v West Ham, Bet -£21.00 Draw at Betfred (Odds of 3.75)
• Matched Bet:
  Man United v West Ham, Lay -£23.16 Not Draw at Betfair (Odds of 3.45)
• Outcome:
  £1.00 Not Draw at Betfair (Odds of 3.45)

• Bet:
  Sampdoria v Catania, Bet -£30.00 Away Win at Betfred (Odds of 2.63)
• Matched Bet:
  Sampdoria v Catania, Lay -£32.20 Home Win / Draw at Betfair (Odds of 2.5)
• Outcome:
  -£0.70 Home Win / Draw at Betfair (Odds of 2.5)

Total = £18.57
(Cumulative Profit = £172.13)

Bookmaker: Totalbet

• Qualifier Bet:
  Real Madrid v Sevilla, Bet -£10.00 Real Madrid / Real Madrid at Totalbet (Odds of 3.2)
• Matched Bet:
  Real Madrid v Sevilla, Lay -£10.16 Not Real Madrid / Real Madrid at Betfair (Odds of 3.2)
• Outcome:
  -£0.35 Not Real Madrid / Real Madrid at Betfair (Odds of 3.2)

• Free Bet:
  Charlton v Tottenham, Bet Free £10.00 Bet Charlton/Tottenham at Totalbet (Odds of 29)
• Matched Bet:
  Charlton v Tottenham, Lay -£9.67 Not Charlton/Tottenham at Betfair (Odds of 29)
• Outcome:
  £9.19 Not Charlton/Tottenham at Betfair (Odds of 29)

• Qualifier 1/2 Bet:
  Rapid Vienna v Austria Vienna, Bet -£20.00 Home Win at Totalbet (Odds of 2.2)
• Matched Bet:
  Rapid Vienna v Austria Vienna, Lay -£24.00 Away Win / Draw at Betfair (Odds of 2.14)
• Outcome:
  £0.00 Home Win at Totalbet (Odds of 2.2)

• Qualifier 3/4/5 Bet:
  Chelsea v Man United, Bet -£30.00 Home Win at Totalbet (Odds of 2.2)
• Matched Bet:
  Chelsea v Man United, Lay -£30.70 Away Win / Draw at Betfair (Odds of 2.2)
• Outcome:
  -£0.84 Away Win / Draw at Betfair (Odds of 2.2)

• Free Bet:
  Bolton v Aston Villa, Bet Free £15.00 Bet Aston Villa/Aston Villa at Totalbet (Odds of 8.0)
• Matched Bet:
  Bolton v Aston Villa, Lay -£13.21 Not Aston Villa / Aston Villa at Betfair (Odds of 8.0)
• Outcome:
  £13.21 Not Aston Villa / Aston Villa at Betfair (Odds of 8.0)

Total = £21.21
(Cumulative Profit = £193.34)

Bookmaker: Betterbet

• Qualifier Bet:
  Watford v Newcastle, Bet -£25.00 Away Win at Betterbet (Odds of 2.75)
• Matched Bet:
  Watford v Newcastle, Lay -£25.94 Not Away Win at Betfair (Odds of 2.7)
• Outcome:
  -£0.36 Not Away Win at Betfair (Odds of 2.7)

• Free Bet:
  Bolton v Aston Villa, Bet Free £25.00 Bet Aston Villa/Aston Villa at Betterbet (Odds of 8.0)
• Matched Bet:
  Bolton v Aston Villa, Lay -£21.47 Not Aston Villa / Aston Villa at Betfair (Odds of 8.2)
• Outcome:
  £19.74 Aston Villa/Aston Villa at Betfair (Odds of 8.2)

• Free Bet:
  Rec de Huelva v Real Madrid, Bet Free £25.00 Bet Rec de Huelva / Rec de Huelva HT/FT at Betterbet (Odds of 10)
• Matched Bet:
  Rec de Huelva v Real Madrid, Lay -£23.08 Not Rec de Huelva / Rec de Huelva HT/FT at Betfair (Odds of 9.8)
• Outcome:
  £21.93 Not Rec de Huelva / Rec de Huelva HT/FT at Betfair (Odds of 9.8)

• Qualifier Bet:
  Dinamo Kiev v Roma, Bet -£10.00 Away Win at Betterbet (Odds of 1.91)
• Matched Bet:
  Dinamo Kiev v Roma, Lay -£9.40 Home Win / Draw at Betdaq (Odds of 1.92)
• Outcome:
  -£0.30 Away Win at Betterbet (Odds of 1.91)

• Free Bet:
  Portsmouth v Everton, Bet Free £10.00 Bet 1-1 at Betterbet (Odds of 6.5)
• Matched Bet:
  Portsmouth v Everton, Lay -£7.91 Not 1-1 at Betdaq (Odds of 7)
• Outcome:
  £7.52 0-0 at Betdaq (Odds of 7)

Total = £48.53
(Cumulative Profit = £241.87)

Bookmaker: Stan James

• Qualifier Bet:
  Southampton v Derby, Bet -£25.00 Home Win at Stan James (Odds of 2.25)
• Matched Bet:
  Southampton v Derby, Lay -£25.22 Away Win / Draw at Betfair (Odds of 2.28)
• Outcome:
  -£1.04 Away Win / Draw at Betfair (Odds of 2.28)

• Qualifier Bet:
  Chelsea v Everton, Bet -£20.00 Draw at Stan James (Odds of 3.5)
• Matched Bet:
  Chelsea v Everton, Lay -£51.00 Home Win / Away Win at Betfair (Odds of 3.55)
• Outcome:
  -£1.00 Draw at Stan James (Odds of 3.5)

• Free Bet:
  Valencia v Zaragoza, Bet Free £25.00 Bet Zaragoza / Valencia at Stan James (Odds of 29)
• Matched Bet:
  Valencia v Zaragoza, Lay -£24.18 Not Zaragoza / Valencia at Betfair (Odds of 29)
• Outcome:
  £22.97 Not Zaragoza / Valencia at Betfair (Odds of 29)

Total = £20.93
(Cumulative Profit = £262.80)

To read more, continue to Part Two