Matched Betting - How to Take Advantage of the Free Bet Offers Available Online by Richard Irwin
http://bit.ly/HQbBef
Matched Betting Matched betting is the process of converting bookmakers' free bet offers into real money. When executed correctly there is no risk of dropping any money at all, regardless of the presence of the phrase "betting". This guide will show you in detail exactly how this is done. A free tool will be included to help you with all related calculations. First of all, here are some important factors to consider. The best free bet offers are available to new customers only and are a one off thing. Of course there are recurrent offers as well, but not always, not with every bookmaker and generally are much less spectacular. So once you go through the process, it is a done deal. This is why it is very important to arrange the process in such a manner that maximum amount is extracted with minimal room for error. With any luck , this guide will help you achieve this goal. The very first thing to do is open an online betting account with a bookmaker. Which bookmaker? There are hundreds of websites that have lists of all the bookmakers under the sunlight, this site is no exception, but I would suggest you for your very first matched betting to pick a bookmaker that offers the smallest size free bet. Why? Well, it is just common sense really to start with the small offers and work your way up to the juiciest types, get some apply first so that if you make a mistake (with any luck , this will not happen), it will cost you less. Agree? And by the way when I say it will cost you less I don't mean that you will lose money, but not successful the maximum possible amount is in fact dropping, so that is what I meant... The term "matched" means that the bookmaker matches the amount that you bet for the first time with them, up to a certain amount of course. Now, to state the obvious, the bookmaker is not going to simply give you a free bet for absolutely nothing, they want you to place a bet with them first and only then they will honour their guarantee. This first bet (or a sequence of bets in some cases) is known as the qualifying bet, that is the bet that gets you the free bet, and remember it is the free bet that you are after. At this point probably you are getting worried, as the phrase betting was used a lot in the above paragraph. Do not worry and read on. To place the qualifying bet you will need to have done two things beforehand. 1) Open an account with the bookmaker and make a deposit. The deposit should be from a debit card in your title (no other deposit methods qualify, like for example Moneybookers or other e-wallets). You should deposit only the amount that is required to extract the free bet. To determine this amount, read point 2 below. 2) Read the terms and conditions of the bookmaker regarding the free bet offer. Do not take anything that you have read on any website for granted, be warned that the bookmakers change the rules as and when they wish, so if website A tells you this bookmaker's terms are this and this, please double check the information or better still, don't read it at all and instead go straight to the bookmaker's website and read the terms and conditions in real time. This is how you find out how much you should deposit in order to be able to complete the requirements and get maintain of the elusive free bet. Be warned that requirements can vary significantly from one offer to the next. You could be asked to bet above certain odds, to bet X number of times before you can withdraw, to bet X number of times before the free bet (or the second free bet) is credited, etc. etc. Make sure you are aware of all that before you even deposit, if you find that the requirements make it too hard/not worthwhile, simply transfer on to the next bookie. Maybe this one will change its coverage in the future, so not everything is lost, make a list of the types that you skip (for whatever reason) so that you can check for any changes later on (say once a month). I hope this doesn't sound as too much work, because it really isn't. Reading several paragraphs of text (the T&C's small print) should not be regarded as work. If you believe that it is too hard, remember - matched betting is not for impatient or lazy people. Okay, you have read the small print and have deposited X amount of your money into your brand new betting account. What do you do next? Before you place any qualifying bets you need to make sure that you are not actually using any risks while betting. Sure, you read this correctly, you will not be betting, you will be "matched betting" which is something completely different as far as risk is concerned. So to make the bet risk free you will need to offset the bet by putting another bet covering all the other outcomes that the initial bet does not go over. As this sounds a bit obscure (even I don't like it, and I've just written it) I will use a simple example: Champions' league football match: Barcelona v. Chelsea Barcelona odds: 1.8 Chelsea odds: 4.6 Draw odds: 3.8 I am using decimal odds here, and this is done on purpose. Say you want to place a qualifying bet on this match. It might not be possible, as there are certain requirements that need to be satisfied first (explained later on), but let us we|shall assume the match qualifies and the qualifying outcome is the draw. So you will be betting on the draw using the amount you just deposited in your account with the bookmaker. But you don't want to bet, you need the bet to be risk free so that you can collect the free bet bonus afterwards. This simply means that you have to go over the other outcomes-in this case, the home get and the away get-by betting on them elsewhere. The best and in fact the only way to do this is by putting a lay bet on a betting exchange. A lay bet is a bet that something will NOT happen, so laying the draw means you are betting on both the home get and the away get. A betting exchange is a website (behind it is a registered company of course) that provides the environment in which one person can bet against another person anonymously on any given event or outcome, the 3 biggest advantages of betting exchanges are: better odds, the option to bet against an outcome (and not only for an outcome, as with bookies) and no maximum bet limitations. So you need to lay the draw (in the above example) on a betting exchange. This means that you need a separate account with a betting exchange and you need some money deposited in it as well. The good news is opening an account takes minutes and the betting exchange by itself will give you a free bet for becoming a customer of theirs. There are a few betting exchanges, but the one that I would recommend using full time when match betting is Betfair. Later on you can open accounts in the other exchanges too, but just to take advantage of their own free bet offers (don't forget to read the small print, as at any time, make a habit of it). So the framework of the matched betting is made up of having a Betfair account to offset any qualifying bookmaker bets by laying the same outcome (betting against it). Once you "exhaust" one bookmaker's offers, you simply transfer on to the next one (becoming in fact a betting parasite, but don't expect me to feel sorry for the "poor" bookmakers). Or your can "work" several bookmakers at a time, as long as you have sufficient money to go over all your bets. Now let us we|shall transfer on to the particulars. The event/sport - which one? It doesn't really matter, as long as it is not excluded by the bookmaker's T&C (short for terms and conditions). Most of the time it will be football (or soccer, as known in the USA, Betfair list it as soccer too). The odds. In the above example I used decimal odds, because that is the format that Betfair and the other exchanges are using. Since the risk offset bets (the lay bets) will be positioned on Betfair, this means that for all your matched betting activities the only odds that should be used are decimal odds (also known as European odds). Whoever is not familiar or comfortable with decimal odds should not start to match bet before he gets familiar/comfortable with this format. This is a must. Usually people who are less familiar with decimal odds are those from the Uk (where fractional odds are popular for some unknown reason) and those in the USA (where American odds are being used for equally unknown reasons). And don't get me started on the Hong Kong, Malaysian or Indonesian odds...Anyway, I will justify my sarcasm regarding other-than-decimal-odds by saying this: decimal odds are the only popular types that use small enough fractions (2 digits after the decimal point), which makes them the only solution when exact odds are required, hence their use on the exchanges, and thanks to Betfair and the other exchanges decimal odds are getting more and more popular and quite rightly so. Bookmakers offer decimal format too, so that is the format used when match betting. On the subject of odds' value - in the above soccer example we said that the draw qualifies for the matched betting, with odds of 3.8 at the bookmakers. Now how did we find out that the draw in this particular match qualifies for our bets? There is one thing and one thing only to consider here - the bookmakers' odds of any given outcome of any event should be as near as possible to the available lay odds for the same outcome of the same event on Betfair. Ideally the lay odds should be a bit lower. Now why is that? Because we want not to lose, meaning we want to collect all our wagers back again whatever the outcome, and by
http://bit.ly/HQbBef
Matched Betting Matched betting is the process of converting bookmakers' free bet offers into real money. When executed correctly there is no risk of dropping any money at all, regardless of the presence of the phrase "betting". This guide will show you in detail exactly how this is done. A free tool will be included to help you with all related calculations. First of all, here are some important factors to consider. The best free bet offers are available to new customers only and are a one off thing. Of course there are recurrent offers as well, but not always, not with every bookmaker and generally are much less spectacular. So once you go through the process, it is a done deal. This is why it is very important to arrange the process in such a manner that maximum amount is extracted with minimal room for error. With any luck , this guide will help you achieve this goal. The very first thing to do is open an online betting account with a bookmaker. Which bookmaker? There are hundreds of websites that have lists of all the bookmakers under the sunlight, this site is no exception, but I would suggest you for your very first matched betting to pick a bookmaker that offers the smallest size free bet. Why? Well, it is just common sense really to start with the small offers and work your way up to the juiciest types, get some apply first so that if you make a mistake (with any luck , this will not happen), it will cost you less. Agree? And by the way when I say it will cost you less I don't mean that you will lose money, but not successful the maximum possible amount is in fact dropping, so that is what I meant... The term "matched" means that the bookmaker matches the amount that you bet for the first time with them, up to a certain amount of course. Now, to state the obvious, the bookmaker is not going to simply give you a free bet for absolutely nothing, they want you to place a bet with them first and only then they will honour their guarantee. This first bet (or a sequence of bets in some cases) is known as the qualifying bet, that is the bet that gets you the free bet, and remember it is the free bet that you are after. At this point probably you are getting worried, as the phrase betting was used a lot in the above paragraph. Do not worry and read on. To place the qualifying bet you will need to have done two things beforehand. 1) Open an account with the bookmaker and make a deposit. The deposit should be from a debit card in your title (no other deposit methods qualify, like for example Moneybookers or other e-wallets). You should deposit only the amount that is required to extract the free bet. To determine this amount, read point 2 below. 2) Read the terms and conditions of the bookmaker regarding the free bet offer. Do not take anything that you have read on any website for granted, be warned that the bookmakers change the rules as and when they wish, so if website A tells you this bookmaker's terms are this and this, please double check the information or better still, don't read it at all and instead go straight to the bookmaker's website and read the terms and conditions in real time. This is how you find out how much you should deposit in order to be able to complete the requirements and get maintain of the elusive free bet. Be warned that requirements can vary significantly from one offer to the next. You could be asked to bet above certain odds, to bet X number of times before you can withdraw, to bet X number of times before the free bet (or the second free bet) is credited, etc. etc. Make sure you are aware of all that before you even deposit, if you find that the requirements make it too hard/not worthwhile, simply transfer on to the next bookie. Maybe this one will change its coverage in the future, so not everything is lost, make a list of the types that you skip (for whatever reason) so that you can check for any changes later on (say once a month). I hope this doesn't sound as too much work, because it really isn't. Reading several paragraphs of text (the T&C's small print) should not be regarded as work. If you believe that it is too hard, remember - matched betting is not for impatient or lazy people. Okay, you have read the small print and have deposited X amount of your money into your brand new betting account. What do you do next? Before you place any qualifying bets you need to make sure that you are not actually using any risks while betting. Sure, you read this correctly, you will not be betting, you will be "matched betting" which is something completely different as far as risk is concerned. So to make the bet risk free you will need to offset the bet by putting another bet covering all the other outcomes that the initial bet does not go over. As this sounds a bit obscure (even I don't like it, and I've just written it) I will use a simple example: Champions' league football match: Barcelona v. Chelsea Barcelona odds: 1.8 Chelsea odds: 4.6 Draw odds: 3.8 I am using decimal odds here, and this is done on purpose. Say you want to place a qualifying bet on this match. It might not be possible, as there are certain requirements that need to be satisfied first (explained later on), but let us we|shall assume the match qualifies and the qualifying outcome is the draw. So you will be betting on the draw using the amount you just deposited in your account with the bookmaker. But you don't want to bet, you need the bet to be risk free so that you can collect the free bet bonus afterwards. This simply means that you have to go over the other outcomes-in this case, the home get and the away get-by betting on them elsewhere. The best and in fact the only way to do this is by putting a lay bet on a betting exchange. A lay bet is a bet that something will NOT happen, so laying the draw means you are betting on both the home get and the away get. A betting exchange is a website (behind it is a registered company of course) that provides the environment in which one person can bet against another person anonymously on any given event or outcome, the 3 biggest advantages of betting exchanges are: better odds, the option to bet against an outcome (and not only for an outcome, as with bookies) and no maximum bet limitations. So you need to lay the draw (in the above example) on a betting exchange. This means that you need a separate account with a betting exchange and you need some money deposited in it as well. The good news is opening an account takes minutes and the betting exchange by itself will give you a free bet for becoming a customer of theirs. There are a few betting exchanges, but the one that I would recommend using full time when match betting is Betfair. Later on you can open accounts in the other exchanges too, but just to take advantage of their own free bet offers (don't forget to read the small print, as at any time, make a habit of it). So the framework of the matched betting is made up of having a Betfair account to offset any qualifying bookmaker bets by laying the same outcome (betting against it). Once you "exhaust" one bookmaker's offers, you simply transfer on to the next one (becoming in fact a betting parasite, but don't expect me to feel sorry for the "poor" bookmakers). Or your can "work" several bookmakers at a time, as long as you have sufficient money to go over all your bets. Now let us we|shall transfer on to the particulars. The event/sport - which one? It doesn't really matter, as long as it is not excluded by the bookmaker's T&C (short for terms and conditions). Most of the time it will be football (or soccer, as known in the USA, Betfair list it as soccer too). The odds. In the above example I used decimal odds, because that is the format that Betfair and the other exchanges are using. Since the risk offset bets (the lay bets) will be positioned on Betfair, this means that for all your matched betting activities the only odds that should be used are decimal odds (also known as European odds). Whoever is not familiar or comfortable with decimal odds should not start to match bet before he gets familiar/comfortable with this format. This is a must. Usually people who are less familiar with decimal odds are those from the Uk (where fractional odds are popular for some unknown reason) and those in the USA (where American odds are being used for equally unknown reasons). And don't get me started on the Hong Kong, Malaysian or Indonesian odds...Anyway, I will justify my sarcasm regarding other-than-decimal-odds by saying this: decimal odds are the only popular types that use small enough fractions (2 digits after the decimal point), which makes them the only solution when exact odds are required, hence their use on the exchanges, and thanks to Betfair and the other exchanges decimal odds are getting more and more popular and quite rightly so. Bookmakers offer decimal format too, so that is the format used when match betting. On the subject of odds' value - in the above soccer example we said that the draw qualifies for the matched betting, with odds of 3.8 at the bookmakers. Now how did we find out that the draw in this particular match qualifies for our bets? There is one thing and one thing only to consider here - the bookmakers' odds of any given outcome of any event should be as near as possible to the available lay odds for the same outcome of the same event on Betfair. Ideally the lay odds should be a bit lower. Now why is that? Because we want not to lose, meaning we want to collect all our wagers back again whatever the outcome, and by
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