In it’s very simplest form, matched betting is about taking away the old ‘the house always wins’ phrase, and moving the edge in your favour. We do this by taking advantage of offers that are available for new and existing customers. The best way to start this process is risk free, and can be done by opening a free account at Profit Accumulator. A free account will let you access the site, 2 beginner offers, full training including step by step instructions, videos and email support – they literally could not baby-step you through the process any more if they tried – its that easy!
Bookmakers and Exchanges
There are two types of sites used with Matched Betting – bookies and exchanges. A Bookie is a site where we place a bet, basically saying that you are willing to trade an amount of money for a larger amount of money if the outcome you select comes true, or lose if it it does not come true. An example might be to bet £10 on Manchester United to beat Arsenal at the weekend, at odds of 2.0 meaning if they win you get £20 back if they lose then you are down £10.
On the other side of the fence is the Exchange – an exchange is a site that allows you to place a different type of bet called a Lay. A lay bet is a bet that something will not happen, and in this sense you would be acting as the bookie – so in the previous example you might lay Manchester United to win against arsenal, meaning if the game was a draw or Arsenal won, you would win the person’s £10, but if Manchester United wins, you have to give that person £20.
Now, if you take a Back bet with a bookie and a Lay bet on the exchange, and the odds are very similar, then the two bets will pretty much cancel each other out. Don’t worry if you are not good at maths or this sounds really complicated – everything gets worked out for you and once you have done one or two they become second nature!
Offers are the bread and butter of matched betters – bookies love to try and reel people in with a free bet, knowing fine well that even by giving someone a free bet they will still profit on average across their book, so we move that dial so that the advantage is all ours. When you sign up to a matched betting service such as Profit Accumulator, there are usually beginner and advanced offers. Work your way through these and you should have between £750-£1300 cash profit at your disposal. This allows you to move onto the regular ‘existing customer’ offers, of which there are new ones posted daily.
An example of how the majority of sports offers work is a Coral could give a new account opening account offer of a £50 matched bet. You first have to place a £50 bet on an outcome of your choosing, so we use a tool called an ‘Oddsmatcher’; this will tell you exactly what the best matches are on odds between a bookie and an exchange. It will also tell you, based on your stake of £50 in this instance, how much you need to lay at the exchange to make this endeavour risk free – placing the back and the lay might cost you 50p-£1, but thats worth if for the profits from the free bet.
Once the bet has been placed with the bookie and the lay has been placed with the exchange, you will be credited with a £50 free bet. Again odds matcher will calculate the bets for you to place this on, and you should on average unlock about 80-85% of the value of that free bet as cash.
Regardless of if the bet wins at the bookie, or at the exchange, you will have profited by the amount in the calculator – in this case between £40-£42 would be about right.
Once your qualifying bet and free bet has settled (been paid out – usually a couple of minutes after the event) you can withdraw to your bank account or PayPal, however you originally deposited. If it’s one of the major bookies you may eventually keep a balance in these ready to do the regular offers, but its up to you – you don’t need to. It;s worth always keeping some money in the exchange though as whilst offers rotate around various bookie sites, you will always use the exchange to lay these off.
- Back – a bet type where you are saying that the outcome will happen
- Lay – a bet type where you are saying that any result will happen other than that outcome
- Bookie – a website where you place back bets, for example William Hill
- Exchange – a website that lets people place back bets and lay bets and matches these people up with one another. The Exchange profits purely by comission
- Liquidity – when placing a back or a lat bet at the exchange, the liquidity appears below the odds in a currency amount, such as £549 – this means there is £549 available to place at the current price
- Liability – when placing a lay bet, the liability is how much you would ‘lose’ if that outcome does actually win – this is cancelled out by winnings at the bookie
- Stake – the amount of your back or lay bet
- Qualifying Loss – the small loss you take on a qualifying bet, to unlock a bonus or free bet – usually 50p-£1. Often abbreviated to QL
- Track all your usernames and passwords securely – I recommend an app for this such as LastPass
- Keep a separate bank account for all your betting activity – this helps you keep track of your profits but also helps you keep your main bank account clean – having dozens of deposits and withdrawals going in and out all the time is a pain when you are looking for regular spending.
- Track all your bets and profits in full – there are loads of spreadsheets to do this for you, and it stops you forgetting about balances in bookies you do not use regularly
- Use Top Cash Back – quite often a bookie might have an offer on AND you can get £10-40 signup bonus by going through Top Cash Back – I’ve made over £900 in the past 6 months just through this method alone – its a great profit booster.
- Watch all the training videos twice, then follow the instructions step by step. When you join Profit Accumulator, Take your time – the profit is not going anywhere! Make sure you do it right and you know what you are doing. If you’re confused, give the video another watch or drop me a message.
- Always make sure there is enough liability for you to place your lay bet – the training will cover this, but when you use the odds matcher always make sure there is enough liability at the exchange to cover your lay bet
- Use the community – Profit Accumulator has a brilliant community forum where the users post additional offers, provide support with each offer and discuss ideas and strategies for increasing profit. This is your best learning tool – be a sponge and soak it up!