How To Make Money From Free Bets Using Matched Betting
I'm going to point out a method I have been using which has provided me with a nice flow of free and easy money over the past few weeks. I've read and known about this method and the basics of it for some years now, but for some reason or another I just never got around to implementing this knowledge and cashing in on it until recently.
The method I'm on about is cashing in bookmakers free bets, it is also known as Matched Betting. I have been generating money for free from using these methods for a few months now and regularly write about how I do, on my website. So far this year I have made a few hundred pounds, it really is a little goldmine and I've no where near finished yet.
Basically all I do is open new bookmakers accounts, place the free bets I get for opening the accounts and then lay the same bets on a betting exchange for a proportion of the free bet amount in order to guarantee myself a cash return no matter what the outcome of the event is. It is not gambling and it is almost risk free. Most people would say it is risk free, the only reason why I don't is because if you do it wrong you could lose money.
To clarify that, what I am saying is that if you place your bets in an incorrect fashion you could lose money. You need to make sure that you fully understand what you are doing, you need to read the terms and conditions to make sure you know the maximum bet amounts, and you need to make sure that you understand the principle of laying a team (this is the opposite to betting on a team to win, it is effectively still a bet, but a bet on the team NOT winning) on a betting exchange. For example, what you do is open a bookmakers account offering a free bet, for the sake of this example let's say the free bet is for ÂŁ50.00 (not an uncommon amount).
I'm going to use simple maths for this example. To get the £50.00 free bet, you will probably need to place a £50.00 qualifying bet. To ensure this doesn't lose you any money, you lay the same bet on a betting exchange. So what I would do first is place my qualifying bet. For this I'm going to back England to beat Australia at cricket at odds of 2.00 (Even money), so I place £50.00 on England at 2.00 (Even money) with the bookmaker to win another £50.00. I then lay England on the betting exchange for £50.00 at Even money (or as close to Even money as I can get), this way I won't lose my qualifying bet of £50.00.
I will probably have to lay England at a little bit over 2.00 (Even money) as it is rare for the two prices to be exactly the same. It won't be too much though, it could be about 2.04 or 2.06, which would mean I would get slightly less than my £50.00 back. Basically I will get around £48.00 to £49.00 back on my qualifying bet, meaning it has lost me something between £1.00 to £2.00. But I'm not too bothered about that as I will make it back and more using my free bet. I then wait for the next cricket match to start and this time I use my £50.00 free bet to again back England at 2.00 (Even money) to win £50.00 again.
But this time when I lay England on the betting exchange, I only lay them for £25.00 - half the free bet amount. This way I get £25.00 no matter what happens. This is guaranteed profit. If England win I win £50.00 back from my free bet and I lose £25.00 on the betting exchange, that's £25.00 profit. If England lose I will get nothing back from my free bet (remember, I don't lose anything as it's a free bet). But I do get £25.00 back from the betting exchange because I played a lay bet on England for £25.00 (remember from earlier, when I wrote a lay is a bet on a team NOT winning). So as you can see, you win no matter what happens.
Sources: http://betsfreebets.com http://ezinearticles.com/?How-To-Make-Money-From-FreeBets-Using-Matched-Betting&id=7298221