Matched Betting Guide: How to Make Money From Any Bonus/Free Bet
Here’s a situation you’re sure to have experienced.
A €100 Bonus Bet banner at your bookie’s website catches your eye.
Immediately your thoughts are of the income you could make with that free bet.
Place the €100 on a dead certainty, cash out, and you’re ‘in the money’!
The temptation to think this way is great.
But, in reality, you can lose that money in no more time than it takes to click the Bonus Bet banner.
And this is the experience of most beginning gamblers.
Fortunately, there is a proven way to make free money from bonus or free bets.
This method is called Matched Betting, and it works with any combination of online bookmaker and betting exchange.
Now you may be asking: is it really risk free?
And the good news is yes.
So, if you think Matched Betting is something you’d like to take advantage of, this guide will explain everything you need to know.
Just study each step outlined below, and you will have the best insider knowledge of how to make Matched Betting work for you.
To be able to follow this method there must be a betting exchange, such as Betfair, operating in your country that offers peer-to-peer online gambling.
The Secret To Earning Free Money With Bonus/Free Bets
You may hear of people who claim to always make money from bookies’ free bet offers.
So, is there a secret to being able to earn free money using the special free offers at bookmakers’ websites?
Well, in fact, there is. And you are about to learn that secret.
It may not be quite as simple as just clicking a banner, but you’ll be glad you learnt this method the next time you see a bonus bet or free bet offer.
How to Earn Free Money From Bonus Bet And Free Bet Offers
You could be earning free money from free bet and bonus bet offers by applying a formula that is guaranteed to work when properly used.
This formula involves three elements:
Bookmaker + Betting exchange (such as Betfair) + Matched Betting Calculator = Cash out your bonus bet or free bet offer risk free!
In the case study given below, you will learn step-by-step how to use the Matched Betting method to benefit from the €200 bonus sign up offer from 10Bet.
The Four Basic Steps To Earn Free Money From Matched Betting With 10Bet’s €200 Bonus Offer
Step 1: Join 10Bet by registering an account, and be sure to carefully read the terms and conditions of the bonus signup offer.
Step 2: Sign up to a Betfair account (if you don’t already have one).
Step 3: Download the Matched Betting calculator (details later).
Step 4: Place your own money on qualifying bets up to the value required by the bookmaker.
If you follow procedures correctly, a large amount of the bookmaker’s bonus winnings will be yours to withdraw and bank.
Now let’s examine each of those four basic steps in detail.
Step 1: Register With 10Bet And Check Terms And Conditions Of The Bonus Offer
As said, the purpose of this guide is to explain how to make free money from the 10Bet €200 bonus offer, which is one of the largest bookmaker offers.
But this is just one of many bonus or free bet offers you can easily find at most bookmakers.
The process you learn here can equally be applied to any of these other offers.
However, every offer has its own individual requirements.
It will always be essential for you to meet each offer’s particular terms and conditions.
So, with any bonus bet or free bet offer, study the requirements carefully.
If necessary, use the bookmaker’s customer support for a full explanation of all the details.
Understand that failure to fulfil any conditions could cost you money or result in rejection of the offer for not complying with its terms.
To help you, the free bets guide explains all the most frequent conditions and terms that bookmakers use.
The guide also includes a simple table listing all the bookmakers trading in the football market together with reviews of each.
Note that most bonus bet or free bet offers require you to first place a required deposit with the bookie.
Now, it’s time to address the 10Bet €200 bonus registration offer.
Sign up: To start, you first need to sign up at 10Bet by clicking on this banner:
The amount of the 10Bet bonus and the terms and conditions may vary from country to country.
You need to thoroughly read the 10Bet €200 Bonus terms and conditions.
In the detailed terms and conditions for the €200 bonus you will see you need to bet 3 times your deposit.
And the bonus amount combined – at 1.5 odds or higher – before you’re entitled to make a withdrawal.
This means that to use the maximum €200 bonus you must deposit €400, and then you need to place bets to the value of €400 + €200 x 3 = €1800.
Step 2: Sign Up For A Betfair Account (If You Haven´t Got One)
For the second element in the Matched Betting method you need to be signed up with a betting exchange such as Betfair.
There are alternative betting exchanges, for example:
However, I believe that your choice should be Betfair, and for a simple reason.
Betfair is the largest betting exchange in the world.
This means it offers the best market liquidity.
And this is what you need for an effective betting exchange strategy.
By the way
If you haven’t yet joined Betfair, just click on the banner below to sign up now, and claim Betfair’s own bonus offer!
Step 3: Matched Betting Calculator Free Download
Once you are signed up with both 10Bet and Betfair, there’s one more essential tool you need, that is the Matched Betting Calculator.
The Matched Betting Calculator will tell you exactly how much you need to lay at Betfair to match each qualifying back bet at 10Bet.
You can download it for free here and now!
Below is a description of each of the boxes that appear in the calculator to help you with the operation of matched betting.
- Back stake: The back bet value needed at the bookmaker.
- Of which free: Qualifying bets can be entered as €0. If a stake is returned (SR) the amount of the Free bet should be entered.
- Stake forfeit: For a qualifying bet or a Free bet if the stake isn’t returned (SNR), enter €0.
- Back odds: Enter the bookmaker’s decimal back odds. (For equivalent fractional odds, check out the betting odds guide.)
- Lay odds: Quote the decimal odds at Betfair. The recommended difference is no more than +0.5 of the bookmaker’s odds.
Bookie odds = 2.00
Betfair odds = 2.05
But if odds happen to be lower at Betfair than at the bookie, then the bigger the spread the less the net loss on your qualifying bet.
- Back commission %: Enter bookmaker’s percentage commission if any – though commission charges are rare among traditional bookies.
- Lay commission %: Enter the commission charged by a betting exchange for a lay bet. Betfair commission is 5%.
- Back return: This shows your return on a winning back bet.
- Lay risk: This shows the sum at risk on a lay bet (at Betfair or other betting exchange).
- Back profit: The profit you gain on a winning back bet.
- Lay profit: The profit you gain on a winning lay bet.
- Lay stake: The exact stake you must place to lay at Betfair (or other exchange).
- Net profit / loss: The profit or loss total on a completed qualifying signup or free bet process.
Losses should be expected in box 13 after placing a qualifying bet, but the objective is to minimize these as much as possible.
Of the thirteen boxes on the calculator, seven (six white, one blue) need to be filled, and two of these (commission boxes 6 and 7) rarely need changing.
Only five boxes normally require input of data.
After familiarizing yourself with each cell, it’s a good idea to spend a little while trying out simulations to become confident with how the matched betting calculator works.
By using random stakes while changing the Back or Lay odds, you will see how this alters the Net Profit/Loss.
You’ll soon discover that greater profit depends on closer odds between each matched Back bet and Lay bet.
Step 4: Place Qualifying Bets (From Your Own Bank) Up To The Bet Amount Set By 10Bet.
This is the most important and detailed stage of matched betting.
So before beginning to place your qualifying bets, you should know about a way to make the procedure much quicker – and more profitable.
Just follow these next three tips.
1. The simple way to compare odds between 10Bet and Betfair
Software is available for automatic matching of 10Bet and Betfair odds, but it’s not the best solution.
Free versions involve a 20–30 minute delay in updating odds.
And for real time odds you need to pay €10 or more each month.
But there is a much easier way…
All you want is to be able to watch and compare odds at 10Bet and Betfair websites as they happen.
So all you need do is open two new separate windows of your browser and reduce each of these to half size.
Then your screen can be filled with the two separate viewing windows.
- Window 1 with 10Bet
- Window 2 with Betfair
This screenshot shows how it looks:
Pro betting tip: Make sure you save favourites / bookmarks for the most popular tournaments and leagues.
It will help you quickly bring up the odds you want at 10Bet and Betfair.
2. Search for odds at 10Bet and Betfair that are as close as possible
Your goal in matched betting is to pair the odds between 10Bet and Betfair that are the closest.
This means it’s to your advantage to set a fixed limit on the margin spread you will accept.
The best recommendation is to limit the odds margin between matched bets to no more than 0.5.
This way you will be limiting losses to 0.50 cents.
This is an example:
- 10Bet odds = 2.00
- Betfair odds = 2.05.
Because profits are included in the odds bookmakers offer, it’s usual for Betfair odds to be greater.
Just occasionally you may find that Betfair´s odds are less than those at 10Bet.
This is no problem as, in this case, your profit is larger the bigger the margin.
Do not confuse the odds margin of 0.1, 0.2, 0.3, 0.4, 0.5 with 1, 2, 3, 4, 5 points.
The table below shows the right way to read odds margins:
The last point is to remember that you need to reach your total of qualifying and matched bets.
This means it is best to choose odds no higher than 4 because the bigger the odds you choose the higher your liability at Betfair.
Layed bets – at Betfair – are your liability risk.
And the bigger the odds, the greater the risk, and the less money left available in your Betfair account to complete placing qualifying bets.
So, make sure you can reach the target of bets set to qualify for the 10Bet €200 bonus, together with their matched lays.
3. Stick with pre-match qualifying bets
Pre-match odds are more stable than odds during live matches, which can change at any time during the match.
Choosing only pre-match odds for your paired bets allows you good time to find and place the back and lay at close odds.
And there’s less chance the odds will change and become unattractive.
After these three important tips, it’s now time to begin placing bets for the €100 Bonus offer!
Place 180 x €10 Qualifying Bets to Reach 10Bet’s €1800.
“Qualifying Bets” are 10Bet’s way to ensure you don’t simply register, grab the €200 bonus, back a certain winner, and never return again.
Remember – to use the maximum €200 bonus you must deposit €400, and then bet €400 + €200(bonus) x 3 = €1800.
To claim the full bonus, you must begin with 10Bet by making your qualifying bets, up to the requirement of €1800.
By the time you reach €1800, matched betting will already have turned you real profit.
Here´s the most important part:
To qualify for the €200 bonus offer you must place an appropriate number of Back bets with 10Bet (using your own betting bank) and meet the terms and conditions.
Matched bets on each match must be placed together.
This means placing the same number of lay bets at Betfair Exchange by Laying the Back bet of each match to reduce your risk.
The Matched Betting Calculator will tell you the amount to lay in each case.
Once completed, you will then have bet on alternative outcomes for all your selected matches.
Now for the practical part:
A simple way to reach the €1800 total bet sum is to place only €10 bets up to a required 180 qualifying bets.
But if your preference is to use higher stakes, such as €100 qualifying bets, you will only need to make 18 suitable bets to reach the maximum spend of €1800.
The best course with larger bets is to place the lay bet at Betfair first, to be certain there is sufficient market liquidity.
Then you can place the corresponding back bet at 10Bet.
Whether your stakes are large or small, you’ll still be enjoying the great matched betting benefit of risk free bets!
But there’s more to explain yet:
To select your bets, you first need to find up to 180 football matches that are displaying close odds – that means comparing odds between 10Bet and Betfair.
At first, each match may take 10 to 15 minutes to find.
But you will get faster, especially when you follow the split-screen technique described earlier.
Now there’s no need to show you how to select all 180 x €10 bets as the procedure is the same for all.
So, let’s start with one example where the odds for the game were close:
Rennes vs. Monaco
10Bet gives the odds for an Away win (to Monaco) at 2.10, while the odds to “Lay” an Away win at Betfair Exchange are 2.14.
Remember, to “Lay” an Away win means to bet against the Away win.
In this example, the lay bet at Betfair is against a Monaco win, and for either a drawn game or a win by Rennes.
Although uncommon, sometimes you may find the same two teams facing each other twice in one week: first in a Cup tie midweek then in a league match at the weekend.
It would be all too easy to confuse the matches, by selecting a back bet on the midweek game then a lay on the league match at the weekend.
It’s important to thoroughly make sure you always back and lay the same football match.
If you make a mistake you are exposing yourself to risk, which could be expensive!
Next: The actual placing of a €10 Back bet.
Don’t rush into confirming your bet until you’re sure everything is correct.
Check that you have the right football match, and that you have inputted the correct outcome and stake amount before you press confirm at 10Bet.
Now, you must immediately minimize any inherent risk that you are exposed to after placing the back bet with 10Bet.
This means placing a Lay bet at Betfair on the same match for the alternative outcomes.
In the present case, you would Lay the Away win in expectation of either a draw between teams or a Rennes win.
Now you need to calculate the amount you need to Lay.
The Matched Betting Calculator provides the ideal tool (and there’s a simple download link).
In the screenshot below, you can see the relevant calculations entered into the Matched Betting Calculator just before the game.
Here’s the explanation:
1. Back Stake – enter the initial stake of €10.
2. Of which free, and Stake Forfeit – these two cells can be left blank as they only concern Free Bets.
3. Back Odds, Lay Odds, Back Commission, and Lay Commission – enter 2.10, 2.14, 0% (10Bet), and 5% (Betfair).
4. Back Return, Lay Risk, Back Profit, and Lay Profit – these are calculated for you as €21, €11.45, €9.55, and €9.55, respectively.
5. Lay Stake – is calculated for you as €10.05 and is the sum to enter at Betfair when you Lay the corresponding Back Bet.
6. Net Profit/Loss – is calculated for you, in this case as -€0.45.
So what the Calculator illustration shows is that:
- A Lay of €10.05 at Betfair is needed on the Away win not to occur, at the risk of losing €11.45 if this Lay doesn’t work out.
- With odds of 2.14 (and subtracting €0.50 Betfair commission on a win), the net winnings from a successful Lay would be €9.55.
- By adding up the relevant sums in each column, the actual result of the Lay on its own would be a net loss of 45 cents (-€0.45).
From this you can see how essential it is to place both the “qualifying bet” at the 10Bet bookmaker and the corresponding lay bet at Betfair.
This reduces your risk by betting on all three possible outcomes of the game and maximizing your profit.
Now we can look at this example of a matched qualifying bet and examine what each potential result delivers.
Remember that the conditions for the 10Bet €200 bonus mean placing a number of Back Bets at odds of 1.5 or above (1/2 in fractional odds), and this requires contributing €1800 of your own money at 10Bet.
The top row of the Calculator shows the first of the 180 Back bets of €10 required in this example.
This €10 is contributed from your own money.
After placing the Back bet your stake will not be returned unless an Away win is the match result.
If an Away win is the result, then you win €11.
So your total return, including your €10 stake, is €21 paid by 10Bet into your account.
If the result is a Home win or a Draw, then your £10 stake is lost into the bookie’s hands.
This is why the Matched Lay Betting technique is such a boon to football gamblers.
With matched betting, performed correctly, you simply can’t lose!
If you want to try Matched Betting with the 10Bet €200 bonus, understand that you will not receive the full €200 bonus in net profit.
The reason is that this method requires the deduction of an average 40 cents (-€0.40) on every €10 qualifying back bet placed.
The calculation is: 0.40 cents x 180 bets = €72.
So, your net profit from the 10Bet €200 bonus will be €128.
And you can’t argue with that when you’re betting risk free!
You can find bonus bet and free bet offers at almost any online bookmaker.
They can vary from €10 to €100 in value and differ widely in the conditions required.
If you decided to go for the maximum free money available from every one of these bonus bet or free bet offers, then you could collect some excellent profits using the Matched Betting method.
Matched Betting can be performed on any football match, and using €10 free bets you can begin with just €50 of your own money.
Of course, Matched Betting is mostly about special introductory offers from bookies hoping to attract new customers with free cash.
If you are signed up with all major bookmakers already, then availability and tough anti-fraud measures will limit your choice.
However, free bet offers are still often available for existing account holders and may appear throughout the year.
This guide will assist you equally well in profiting from such bookmaker offers.
Using the method described here does require discipline, and any misunderstanding of the steps involved in matching bets could cost you hard cash.
That’s why you are advised to read this guide 10 to 15 times and test the practice before you begin the Matched Betting process for real.
It doesn’t matter if your motive is just to beat the bookies or you really want to earn useful extra money, this Matched Betting guide could be one of the most profitable tutorials you will read.
Those bookmaker bonus bets and free bets are out there and available, so just give Matched Betting a try!