The term matched betting by definition is a form of arbitrage that allows you to calculate bets that are risk free by using free bets with online betting exchanges. Using an appropriate strategy you should be able to compound a decent amount of profit within the regions of £700 to £1000.
To implement a matched betting method you will need to open a bookmaker account with a free bet promotion, (a free list of bets is available at free bookmaker bets) and a betting exchange account such as betfair or betdaq.
The technique used in matched betting is implemented by placing bets at any bookmaker offering a free bet and then laying it off at a betting exchange, essentially all your doing when applying this technique is hedging your bets to create a profitable scenario that eliminates risk. The value in this betting method exists because of the ‘free bets’ entity. If online bookmakers were to stop offering them tomorrow this type of risk free bet would become obsolete.
In order to implement matched betting properly you need to place two rounds of bets, the first round consists of a placing a qualifying bet and the second round involves using the free bet stake, which is where you make the money For a free guide on matched betting take a look at onthesmartmoney.com
matched betting tips
When matched betting the idea is to maximize profits the higher the free bet stakes the better your overall return will be. A £50 free bet is much better value than a £10 one for example. From personal experience I have found the best time to take advantage of high value bets are when special events are taking place. A prime example is the famous ‘Cheltenham horse racing festival’ in March. For some reason at this time of the year bookmakers love to give big free bets away that you normally cannot get at other times of the year. An example this year (2009) is ‘ladbokes’ they were offering a free £200 bet throughout the festival. To qualify all you to do was open an account place a bet and you would receive a freebie bet to the same value. This type of great offer never seem to materialize at others times of the year. So take advantage when they come along.