Matched betting and how to profit from betting without gambling – is it for real?
If you’d asked us years ago if we knew how to profit from betting without actually gambling, we’d have thought you were crazy!
You’ve probably heard of matched betting as it’s been around for several years now, but if not, you’ve come to the right place to learn more about it. Here’s how to make money using free promotional offers from bookmakers – with no gambling involved.
We’ve both been matched betting since 2014 and have joined – and used – many MB-related programmes over the years. However, we both agree that the best place to start is by joining Outplayed.com
So why do we believe Outplayed.com is the best starting point for beginners? Well, quite simply, they make it as simple as possible for anyone to learn how to do matched betting. There is great support available from the Outplayed community, made up of both members and experts, as well as a multitude of easy to follow training videos.
It’s Not Gambling
Matched betting, despite its name, is not gambling. Anything you earn from it is tax free, as in the UK all gambling* wins are taxed at source. For example, if you placed a bet on the Grand National at your local bookmaker’s shop, the tax element is part of your stake.
*For the sake of clarity, you are placing bets on betting (bookmaker) sites and as far as they are aware, you are gambling. But the bookmakers don’t see the second part of the equation!
How Does It Work?
So how does it work? Well, you will be making money by taking advantage of Bookmaker promotional offers. Most bookmakers will give you a free bet when you sign up to use their website, and this is where you make your profit.
Initially, you’ll place a bet on the bookmaker site and at the same time you’ll place a corresponding lay bet on a betting exchange site. this means you’re betting on the opposing outcome. You’ll either win or lose a small amount on your first bet. From using the special calculators involved, you will always know how much this will be and how much profit you’ll make from stage two. Once the first bet is settled, you’ll then be given your free bet. Then you will place this bet and lay it, as you did with stage one, but it will be calculated differently. This is where you will make a profit.
To a newbie this may sound complicated, but it’s really not. Granted there is a learning curve, as there is with any new skill. But once you’ve grasped the basics you’ll be surprised how easy it is.
You can get a free trial with Outplayed.com during which you should make around £40 profit. Then you can decide whether you want to continue and join as a paying member. At the time of writing, fees are £29.99 per month or £250/year paid annually for the first level, Platinum Standard. There is no contract and you can cancel at any time.
Basic Rules – Safeguarding Yourself Financially
There are some basic rules you should follow from the start to safeguard yourself financially.
Firstly, banks are automated and they don’t know that you’re matched betting. All they see are your payments to bookmakers, so they could interpret the transactions going through your account as gambling. This is why we always recommend using a separate account for all of your betting transactions. Should you then wish to apply for credit facilities, mortgages etc, you hopefully wouldn’t have a problem.
Secondly, we recommend you build your ‘bank’ (this will be explained fully later) to enable you to place bigger bets. This will eventually lead to bigger profits for you but it means not withdrawing your earnings until you’ve reached a certain stage. Of course, it’s entirely up to you how you work this.
You may like to pay yourself, say 50% of your winnings and let the other 50% build up, and that’s OK, too! Just be aware that it will take you longer to earn the bigger sums if you do. But there’s no right or wrong way to do this. Take it at your own pace and learn one thing thoroughly before you move on to the next.
You can check out Outplayed.com’s reviews on Trust Pilot if you’d like to see what other people think of the system.
Please note: Our site uses affiliate links – should you sign up using our link, we may earn a commission on your monthly subscription fee. We would recommend signing up to become an affiliate yourself, then you too can earn money if any of your friends and family subsequently join. You can check out our full disclaimer here. Results will depend upon how much time and effort you put into matched betting.