How i make EXTRA Money - Step by Step Matched Betting Guide to free Silver #207
Overview
Matched betting is a perfect way to earn an extra income by turning bookmakers free bets into free money/silver without gambling by placing risk off bets. This is not a scam, there are no sales people. Its is 100% legal and earning's are tax free as its from gambling.(Tax free gambling in the UK, if you win 100mil on the lotto, you get 100mil tax free). Its is very easy to learn and after a few tester are paper runs, you will be prepared and ready to take on bigger offers. There are hundreds of bookmakers out there all offering free cash ripe for the picking. Offers range from £10- £250 and everything in between Its something you can do in the spare time, as and when you please.
Matched Betting : Here's How It Works
I am going to explain to you how you can 'buy' a £50 for the cost of £10. I will show you how can make £40 in a few minutes using a betting technique called matched betting. And by using online back & lay bet calculators, will can do this at amazing speed.
Bookmakers offers new and exciting customers free bets and bonuses to sign up and deposit. In general its a straight up ''Bet £50 to get a £50 free bet''. When you sign up a new account and take an offer, your first bet would be your qualifying bet. By betting on every possible outcome, you minimize losses to a few pence. This sounds complicated but its only 2 bets. You will know before placing any bet how much it will cost. After your qualifying bet has settled, you will receive your free bet of £50. Repeat the same process again this time using the free bet, this will yield around 70-80% the value of the free bet.
Still confused? I will go through it in greater detail below. Once you learn to do this, you can repeat it over and over at different bookmakers and even when you have completed all the sign up, you have reloads to do.
The Art of the ''Backing and Laying'' technique
To put this simply, this is stating that an outcome will both happen and not happen. In everyday English, this is called hedging your bets. You will always be right and wrong at the same time.
- When you make a bet at the bookie you are betting that something will happen. This is called 'Back Bet' and is the most common form of betting.
- Another type of bet you can place is one where you bet on something to not happen. The is a called a 'Lay Bet' and are normally made on using Betfair and another betting exchange.
A back bet means you what it to win, a lay bet means you want it to not win. When you back and lay the same choice and cover all outcomes, you cant lose. If you back Man United to win the FA Cup, you must lay Man United to win the FA cup
This is important to remember and understand
Qualifying Bet
In order to take advantage of these bookmakers offers. The bookmakers will specify that you must make a bet with them first before your are rewarded with your free bet. By backing and laying your first bet which is you qualifying bet, you will have made a back bet at the bookmaker and a lay bet at a betting exchange covering all outcomes and losing a few pennies, i aim for nothing more than 5%. If doing a qualifying bet of £50, i would aim you lose no more than £2.50 overall. When your qualifying bet has settled you will have won 1 bet and lost 1 bet. In effect, you win and loss have cancelled each other out and you lost a small percentage. You are now rewarded with a free bet. The trick is to get back odds and lay odds to the same value. The closer the odds are, the better the match. Always try and find a match were you loose no more than 5% of your back bet. I use an online back and lay calculator to work out my lay bet. trickybet.netFree Bet
Once you have received your free bet you will be looking to cash it out. You basically repeat the same process over again except this time you will be using the bookmakers money for your bet back. I tend you bet on higher odds of around 6/1 are higher. I do this because most free bets are stake not returned meaning you get the white meat. You are aiming to make a min of 80% of this bet. Thankfully most lay and back calculators will have an option for this and this will adjust your lay bet stake. So, do you back bet using your free bet and place a lay bet an the betting exchange and when the bet is settled, you will have just converted a free bet in free cash waiting to be withdrawn. Its that simple, and you can repeat it over and over at different bookmakers. I have had nights were i did 6 bookmakers sign up bonus in 1 night.
How do i get started and what i expect?
Its fairly simple to get started. I opened a new bank account to keep it separate, but nothing wrong with the account you already have. You will need a min of £300 to get started, the more the better but i think i could start from £300. You need money to fund back bets and money in your betting exchange account. I would suggest £100 in the bank and £200 in a betting exchange to get started
You will first off need to sign up to a betting exchange. Betfair seems to be the biggest one and i its the one i have using the past 9 years. There others but to start out, 1 is enough. Next up i would learn how to use betfair and understand how to place a lay bet. Each bet has 2 prices, 1 blue and other pink. Blue is normally back bet and Pink is lay bet.
Next you will need to select a bookmakers offer, i suggest going for the lowest offer you can find. There is always a £10 offer around so thats say you find a £10 offer and its a free £10 sign up bet.
You will need to write the terms and conditions. This is were you will find out what the min odds that your bet must be, bets that are not acceptable, free bet conditions ect. I can not highlight how important is is to read the terms and conditions before signing up to any bookmakers offer. I have read and know all the UK bookmakers terms down to the finest detail, years of wasted time :D
Sign up to the bookmakers and search for close matching bet. Lets say using decimal odds to find a horse that is running in 30 mins with back odds at the bookmaker of 2.12 and lay odd at the betting exchange of 2.14. After inputting a £10 bet, 5% lay commision (betfairs cut) and the odds in the calculator, its it showing result of a loss of £0.37 either way by placing a lay bet of £10.14. In this bet you will have used £10 from your bank account to fund the back bet at the bookmakers and have a liability of £11.56 on betfair as you offered someone else a bet of £10.14 using them odds of 2.14. This is why you need money in both bank and betfair accounts. Thats says you talk sake, the horse falls and we win are lay bet. We lose the £10 at the at the bookmaker and gain £9.63 at betfair with is the £10.14 stake take away 5% comm. You qualifying bet has cost you £0.37.
Now you have your free bet. You repeat the same process, but this time you are using the bookmakers money and as it is not stake returned, you must place a back bet selecting higher odds of 6+. So there is a football game starting i find close odds on the correct score market. My selection has back odds at the bookmakers of 7.4 and lay odds at betfair of 7.6. I use my free bet to make this bet at the bookmakers. Then after entering into the calculator £10 bet, 5% lay commission, enter in the back and lays odds and finally select the Stack not return option. My result is a £8.48 lay bet which i make at betfair. I have no expensive at the bookmaker and my liability on my lay bet was £55.97 as i offered odds of 7.6 for £.48. Lets say you win at the exchange again. You lose nothing at the bookmakers and you gain £8.06 at betfair after comm
What have you just done?
Your will have just made free money for pretty much no work. Thats break it down, your qualifying bet cost you £0.37 and you gained £8.06 with your free bet. Thats simply £8.06 take away £0.37 which gives you £7.69 clear profit. If you had started with £100 in a bank account and £200 on betfair, you would now have £90 in the bank and £217.69 in your betfair account. Rinse and repeat till the cows come home.
Always Read Terms and Conditions
Always - Always place back bet before lay bet
Always double check your numbers on calculator
Always refresh odds before placing bet
@raybrockman 'STACK IT UP' Contest ***http://steemurl.com/F5hMGoYK
Day 3 $100 Bitconnect Challenge! ******http://steemurl.com/XEnLSZpj
@silvergoldbotty LOGO Contest 10SBD **http://steemurl.com/HEmG0AR0
#steemsilvergold Weekly Update's ****http://steemurl.com/31ARHft-
Great way to make bank for anyone getting started with taking punting seriously.
Fantastic way to get into arb betting
Well that too but I've found arb betting is hard to sustain by itself because bookies wise up and kill your account. A mix with genuine punting helps to mask the betting pattern.
I have burned through alot of accounts that way. bet365's 4/1 horse offer is pretty good long term. I remember when i started, reloads, refund offers and straight free bets where the norm from alot of bookmakers. Its getting harder but still worth it and i enjoy it.
Seen a thing in the papers the other day about the UK government cracking down on bookmakers for what they offer new customers. They are saying the bookmakers are getting people hooked to gambling with there offers. So, it might get harder again.
Where there is a will, there is a way :D
That's what they did here but it really just protects the bookies from the likes of us. Govt still do nothing about the rampant pokies which is where most of the problem gambling is, because it is a massive cash cow for them.
Thats true. Its maybe all smoke and mirrors. I think they will crack down more on offers for existing members as that seems to be the way things go. The government here dont tax winnings so they dont collect as much. If you win a million, you get a million in the bank.
Yep, easy money there. Have been doing that for years in Australia....until the regulators changed the rules to make it illegal for bookies to offer "betting enticements" so it's all mostly dried up now. Plus many of my bookmaker accounts have been shut down.
Got to read the fine print as a lot of the Americans and Europeans (in particular) have big turnover requirements so you can hit your bonus but then have to turn it over by another X times. Been caught out on that one, but mostly my conversion rate for free bet balance to cash balance is about 80% and I usually use horse racing due to highest liquidity and lowest margins.
Yeah, the bigger free bets seem to be bonus that require a a high wagering. Its harder now but there is still a quick buck to be made. I have had alot of accounts closed also but i have spares, haha. I mainly do arbitrage bets now and mainly on horses for the same 2 reasons you stated plus the fact that betfair odds move/change faster then bookmakers odds :D Wink, wink. I still do the easy offers for matched betting but most are not profitable are worth while. I never doing 20 small bets to win like £50, but i'll do 2 bets.
Its nice to know that someone on here has done this as well,
Thanks for commenting buddy
Also, i did do a few Ozzy sign ups back in the day and they were the worst to withdraw from. I had to go to the police station with photocopies of my passport and proof of address, get them stamped and signed. Then post them to Oz to have them confirmed. I did this once and bet the money out the other times sometimes resulting in a lose cause of shit odds.
In Australia the Know Your Customer regulations are making it a lot tougher to set up accounts (especially for foreigners) and making bearded accounts is a shedload harder too.
Can you suggest any UK bookies that are still offering decent bonuses? My Bet365 got limited to about $1 stakes and I had accounts with StanJames and BetVictor but they were pretty tight. I occasionally look at them for cricket markets and they might get a run with Ashes coming up. Any others worth looking at?
Paddy power has good sign up bu the amount changes. I would hold out until you see like £100+ Here is a link below to to a list of free bets and use topcashback to get extra monies.
888, unibet and 32red all share the same odds and they are really good to do some arbitrage horse betting. Doing 20-30 £100 bets in a session can gave back £150-£250 for 3-4 hours hard grinding. You gotta be quick :) I use oddsmonkey to help find odds quicker. You will get around 3 days before you are limited but worth it.
http://www.freebets.co.uk/
https://www.topcashback.co.uk/home
Thanks, I'll check that out and see if I can get any of them to pay me :)
you could always bet at higher odds in the hope to bust out of the bookie and into betfair. I would underlay bets like this and if my bet at the bookie won, i would have a little extra profit to use toward trying to bust out again. You could also use an online wallet like skrill which most bookies accept.
Wow! That was a lot of work you laid out. Thank you for showing that technique and sharing ways to make extra money.
I used to run a website that made money from links to bookmakers sites. I have wrote this a few times but not in a few years either :)
Thanks for nice comment buddy
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by silverstackeruk from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
This post has received a 0.35 % upvote from @drotto thanks to: @banjo.
This wonderful post has received a bellyrub 4.87 % upvote from @bellyrub thanks to this cool cat: @silverstackeruk. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.
This post has received a 5.11 % upvote from @buildawhale thanks to: @silverstackeruk. Send at least 0.50 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
To support our curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
img credz: pixabay.com
Nice, you got a 64.0% @kamikaze upgoat, thanks to @silverstackeruk
Want a boost? Minnowbooster's got your back!
The @OriginalWorks bot has determined this post by @silverstackeruk to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!