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Matched betting is completely legal in the UK but you do have to be aged 18 or over, just as with any other gambling activity. We might be biased, but we believe that there is nothing unethical or immoral about matched betting.
It is simply a clever technique that allows you to make the most of the promotions offered by bookmakers. Lots of people across the UK invest time and effort into matched betting as a way to legally supplement their income.
Some bookmakers are against matched betting because it means that the odds are no longer in their favour.
However, bookmakers can still profit from matched betting, as our example showed. So, matched betting is not really gambling in that sense.
Matched betting is not dead or dying. For as long as bookmakers offer free bet deals, back and lay betting can continue to deliver profits.
We estimate that tens of thousands of people in the UK will use matched betting to supplement their income this year.
Matched betting is safe and risk-free in principle — mathematically, it is guaranteed to generate profits.
There is also a small chance that the odds will change in the time between you placing your back bet and lay bet, meaning that the bet is no longer properly matched.
Our resources ensure that matched betting is extremely low-risk. You can find out more about matched betting risks in our blog post on matched betting problems.
What is no-risk matched betting? No-risk matched betting is sometimes used as another name for matched betting. The term can also be used to describe a specific form of matched betting, where your qualifying bet is effectively free.
Because your back stake is never at risk, no-risk matched betting in this sense is generally more profitable. OddsMonkey members can use our risk-free bet calculator to make the most of no-risk matched betting opportunities.
How much can you make from matched betting? There is the most opportunity to earn when you first begin matched betting, because most bookmakers offer generous sign-up deals to attract new customers.
However, matched betting is sustainable and profitable for the long-term. These matched betting stories show that every OddsMonkey member has a different lifestyle, goals, and amount of time available, which affect how much money they make.
Lots of people believe that matched betting is worth it, as our customer reviews and matched betting success stories prove. This, combined with the high profits on offer, means that you can make a relatively high hourly rate.
Over the years, we have helped thousands of people earn a second income with matched betting. We have even helped some customers make a living from matched betting.
However, you should quickly make a profit on this initial investment. Once you have made enough profit, you can simply reinvest a portion of your matched betting returns into future matched bets.
There are also optional matched betting expenses to consider — for example, an OddsMonkey premium subscription. However, the benefits of this are designed to far outweigh the costs.
It is extremely unlikely that you will lose money matched betting, but it is possible if you make a mistake during the betting process.
It is also unlikely but possible that the odds will change in-between you placing your back bet and lay bet in a way that causes an overall loss.
If you place your matched bets correctly and the odds used to calculate them do not dramatically change for the worse in the middle of the process, the maths means that you are guaranteed to make a profit.
There is a chance that matched betting will affect your mortgage application if you do not use a separate bank account for your betting activity.
This is because most lenders will look at your bank statements when processing your application and may not wish to lend to someone who appears to gamble frequently.
However, there are few reports of matched betters who have been rejected for mortgage applications for this reason.
There is nothing illegal about doing this. Bear in mind that matched betting earnings will not count as an official form of monthly income when applying for your mortgage.
Matched betting does not affect your credit score. You can have as many gaming accounts as you want. Lenders will not be able to see these searches, and there will be no impact on your credit rating.
At OddsMonkey, we are dedicated to helping members get to grips with matched betting and maximise their profits.
If you sign up as a free member , we will take you through six matched betting tutorials step-by-step. These will make sure you understand what matched betting is, what a betting exchange is, and how our OddsMatcher tool works.
We will then walk you through your first three matched bets. Once you have completed these tutorials, we are confident that you will have a good understanding of how matched betting works.
However, you will still need tools and resources to help you find and take advantage of more matched betting deals.
To get started with matched betting, you need an internet-connected device, an email address, an online bank account or wallet, and starting funds.
An internet-connected device: You can do matched betting on your smartphone. However, in an ideal world, you will have a desktop computer with multiple screens, to make it easier to switch between sites and place your bets at the right times.
A strong and reliable internet connection is also important for this reason. It also allows you to make the process completely risk free.
By using a mathematical equation to calculate your stakes, you can ensure your back and lay bets cancel each other out. Before you worry about the maths involved, everything is done for you especially if you use a service like OddsMonkey.
The free matched betting calculator over at OddsMonkey works out the exact stakes required for your bets to cancel each other out.
They would lose a lot of money. By using this process, you can qualify for a bonus without losing any of your own money.
You can trigger the free bet risk-free! This is what sets matched betting apart from other forms of betting. You can check out my in-depth OddsMonkey review here.
So the first step of any matched betting offer is to find a free bet or bonus to take advantage of. Whilst you can manually scan online bookmakers to find the most profitable offers, this is a time-consuming process when you consider there are hundreds of betting sites.
Instead, I recommend you use a matched betting service like OddsMonkey. Their team is constantly searching for the latest offers which are then uploaded to the members area.
Nowadays this process is relatively straightforward. The next step of a matched betting offer is to complete a qualifying bet.
As I mentioned earlier, we need to trigger our free bet before taking advantage of it. Once again, you can manually search for a market to place your bets or you can use special matched betting software that does this for you.
At OddsMonkey, this tool is called the OddsMatcher and is incredibly popular with thousands of punters. It shows you exactly which markets are the most profitable for your qualifying bet and calculates how much you should stake in order to maximise your value.
Accessing this powerful software is a reason in itself to sign up with OddsMonkey. As you become more experienced, the OddsMatcher has various advanced features that you can take advantage of.
When your qualifying bets have settled, you should find your free bets in your bookmaker account. They usually appear in the bet slip or the account funds section.
Now for the exciting bit! Similar to the process above, you need to find a suitable market to place your back and lay bet.
Once again, I recommend you use the OddsMatcher in order to maximise your profit. Your free bet can be placed on any betting market, however, large football games are usually the easiest for beginners.
The Premier League is usually a great place to start. There is no catch! The only difference is that you place a lay bet using a betting exchange in order to guarantee a profit.
Despite what I said earlier, not all bookies are such big fans of matched betting. Especially bettors who continually take advantage of their bonuses, free bets and other promotions.
However, you can employ tactics to mask your matched betting activity. Whilst these strategies will help in the short term, the bookmakers are still likely to catch you in the long run.
The only way to avoid this is by not taking too much value. As a matched bettor, your aim is to win at the betting exchange as often as possilbe.
For more information on the legality of matched betting , check out this article. After legality, this is probably the second most popular matched betting question that comes to mind — how can anything to do with betting involve zero risk?
As I explained above, matched betting is technically not gambling. Back and lay betting is a risk-free method used to guarantee a profit and mitigate any risk from normal gambling.
Bettors use a matched betting calculator to work out the most effective stakes to maximise the profit from their bets. What this is, is a proven strategy to make a sustainable income online.
Some people use this as their primary income whilst others use it to supplement their full-time job.
Obviously, the amount you make really depends on how much time you invest. They have some good information on how you can make some extra cash while you get your matched betting off the ground.
An accumulator, combination or multiple bet is a single bet that contains 2 or more selections in one. For this to be a winning bet all the selections must come true.
In recent times, accumulator bets have become very popular, especially with football punters. Track your bets with spreedsheets?
Not here. You can log your bets directly from our offer pages. It's quick and easy. Our comprehensive information is constantly updated by our trading experts - with 30 years of industry experience.
It might sound too good to be true, let's face it, most things on the internet are. In this case however, you don't have to take our word for it.
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