5 Steps For Matched Betting Beginners

15 Nov, 2019

Matched Betting is the No.1 source of making money online. Since bookmakers came online at the turn of the millennium, thousands of people have used Matched Betting to improve their finances and we are here to help you begin your journey.

Here are our 5 steps to get you started.

1. Understand the basics of Matched Betting

Before you begin it is important to know exactly what Matched Betting is and how we are going to profit.

Matched Betting is a risk free betting technique used to take advantage of the signups bonuses and free bets bookmakers offer to prospective customers.

As you can see, BET 365 is offering new customers a €100 bonus if they deposit and wager €100 of their own money. Using the techniques of Matched Betting we can guarantee ourselves at least €80 profit from this offer.

Here’s how.

BACK AND COVER BET

To guarantee ourselves the profit and eliminate all risk, we have to place two bets.

BACK BET

A BACK bet is a bet we place at the bookmaker whom we are trying to profit from. Using the signup offer pictured above, BET365 is where we would place our BACK bet.

We would also refer to BET 365 as the BONUS bookmaker.

COVER BET

A COVER bet is a bet we place at a sports betting exchange to cover the other outcomes of our BACK bet.

If we were to place a BACK bet on Liverpool to win, our COVER bet would be betting against a Liverpool win.

Once we have placed both the BACK and COVER bets, all of the outcomes are covered and the bet becomes risk free.

See Step 4 to see how we place these bets.

2.Where do you find the Signup Bonuses?

Now you know the basics of Matched Betting, it is time to find the offers which we want to take advantage of.

The signup bonuses are also commonly referred to as a Welcome Offer or Deposit Bonus. All of these terms are interchangeable.

To find a Signup bonuses, you first want to know all of the available online bookmakers operating in your country.

This is very simple and all you need to do is type ‘Online bookmakers + ‘your country’ into a search engine.

Once you have a list of each bookmaker available to you, you need to do another search of the bookmakers name plus Signup Bonus e.g

‘BET 365’ + ‘Signup Bonus’

After you have clicked onto the website, it is extremely important that you read the Terms & Conditions of the bonus they're offering.

Bookmakers do not want you to profit from them!

What to look out for when reading the T&C’s

The turnover requirements
Minimum odds
Expiration date

These three points are crucial when completing a welcome offer and you must look out for them each time!

Turnover requirement

The turnover* requirements is the amount of times we have to bet the bonus amount before it becomes available.

*Turnover requirement can also be called wagering requirements. These terms are interchangeable.

In the BET365 offer, they want us to place €200 worth of bets. The first €100 is our money to be rewarded the bonus and the second €100 is us wagering the bonus before we can withdraw.

Minimum odds

Another important condition to look out for is the minimum odds required to count towards the wagering requirements.

Above you can see BET 365 require us to place bets with odds of at least 1.2 or higher.

If the odds are below 1.2 then it will not count towards the wagering!

Bookmakers place minimum odds to prevent you from placing extremely low odds that will increase your chances of winning. Thankfully with Matched Betting and us covering all of the outcomes, we do not care if the bet wins or not.

Expiration date

Last but not least, is to look out for the expiration date of the offer. Bookmakers will give you a limited time frame to place the required amount of bets.

If you do not complete all of the wagering requirements before the Expiration date, the bookmaker will withdraw the bonus and you will not profit.

Here at Oddshero we have a full list of all the Signup Bonuses available for you to complete. Our integrated tracker will also help you stay on track with your wagering requirements.

3. How do you find the bets?

Now you know how to find the welcome offers and how to place the bets, you need to know exactly which bet to place.

Don't worry. We’ve made the process simple for you.

Oddshero has a completely integrated system that scans bookmakers and betting exchanges to find the perfect bets for you to place.

Once we have insert which BONUS bookmaker we are using then the odssmatcher will automatically show us which exact bet to place. In the photo above you can see it is telling us to place our bets on a National Football League game.

The oddsmatcher is a round the clock system that allows you to find bets at all times of the day. Another great benefit of Matched Betting!

4. How to place Matched bets?

Once we have found the bets we want to place using the oddsmatcher, it is time to place them and start earning!

Here we will walk you through every step of the process.

Step1:

PLACING THE BACK BET

The first bet we place is the BACK BET. See (below) that Oddshero oddsmatcher is telling us to place a bet on the HOME team to win.

We then look at the odds that should be visible on the bookmaker when placing the bet. Our bet has the odds of 2.95 and below that it tells us to place a stake of £20.

Now we know what bet to place, we click Open BET365 and it will take us to the bookmaker.

Once you have placed the bet, we can click Placed Bet365 Trade and it will move us onto the next step of placing the COVER bet.

Step2:

PLACING THE COVER BET

Now to complete the COVER bet, we do exactly the same as Step1!

We placed a bet on the HOME team to win on our BACK bet, so now we are placing a bet on the AWAY team to win.

The odds are 1.495 and our stake is 39.46.

We again click Open Matchbook and once you have placed the bet, you will click Placed Matchbook Bet.

CONFIRMING OUR TRADE.

After you have registered the COVER bet, Oddshero will automatically save your bet to our system. This will help you stay on track with all of the bets you have placed to make wagering simpler!

Above you can see that our bet has contributed 20% to our wagering of the BET 365 Sign up bonus.

5. REPEAT THE PROCESS!

Step 5 of our steps for Matched Betting beginners is certainly the easiest! Once you have understood Step 2-4 and you know exactly how to find and complete Signup Bonuses, then it is time to complete as many as you can!

Here at Oddshero we already have 65 bonuses for you to complete, with more added as soon as they become available.