Free bets are a way of making money from free bets at home online. Under normal circumstances when you place a bet, say on a football match, you bet a certain amount of money for the team you’ve chosen to . If it loses or the match is drawn you lose your money. If it wins then you’re in profit. Matched betting is a way to manipulate your odds to make sure that you make a profit, rather than a loss. Most people who use this method as a form of making use a matched betting site like Odd Monkey or Profit Accumulator. Both these sites charge a monthly fee but they do have free trials so that beginners can learn more about win the matched betting process.
Sign up with a bookmakers and a betting exchange
You should choose sites with the most enticing ‘free bet offers’ that allow you to unlock the highest value in free bets. For example, William Hill might offer you a free £20 bet if you spend £20 with them.
Make two bets
You will need to make a ‘back’ and a ‘lay bet’ on the same event. You will probably make a loss on these bets. But you should unlock the the free bets from the bookmaker you signed on with. Look at the odds and pick an event that has similar odds for both outcomes. If you are new to betting you may find it easier to use decimal rather than fractional odds.
Use your free bets
Wait for an event you are confident has a very easy to predict outcome then use your free bets on that event.
Repeat with different bookmakers, taking advantage of the best free bet promotional offers.
How Matched Bets Work – an example:
William Hill offers new clients a £20 free bet if you place a £20 bet with them. Find an event that only has a possible win or lose outcome. For example, a tennis match with odds of player A @ 10/11 and player B @ evens, you place £20 on player A with William Hill and Lay player B to win £20 with Betfair, this will cost £22. So whichever player wins you will have returns of £40.
You will have lost £2 but you released the £20 free bet with William Hill. So you can now repeat the process with the free bet and guarantee yourself a profit or you can have a £20 bet with only a maximum possible loss of only £2. Remember to read the terms of the free bet offered by each company carefully as they can differ in the way you qualify to release the free bets that are offered. When placing bets on the Betfair Exchange you should be aware of the fact that unlike traditional bookmakers who charge no commission on bets, Betfair charges 5% on all winning bets.
This 5% commission is reduced over time based on a number of bets placed. Even after this commission is paid there is still a healthy profit to be made from the various bookmaker’s offers.
Terms you need to know
What is a Backing Bet?
A bet you place for a certain outcome such as Chelsea to beat Liverpool. If the outcome is as you predicted you’ll win your bet.
What is a Lay Bet?
This is a bet you place against the outcome of your backing back. For example, your backing bet is for Liverpool to win, but your lay bet is for Chelsea to win. Lay bets must be placed on betting exchanges like Betfair.
What is a Free Bet?
A free bet is a promotion offered by a bookmaker to encourage you to sign up and open an account with them. Free bets are subject to terms and conditions, so you should read them before you use the free bet. Normally you will have to spend money on a bet before you are given your free bet.
You can learn more about matched betting from this tutorial: