You’ve probably heard these sayings a hundred times, “gambling is a mugs game” and ”the bookie always wins”. Well you’ll find one of those myths has been busted when you learn the truth about matched betting.
I say ‘one’ of those myths because matched betting isn’t really gambling, it’s a system devised by some smart mathematicians and successfully practised by insiders until breaking into the mainstream a few years ago. Different to conventional gambling, such as poker or blackjack, which are often played for fun, matched betting is an ingenious way to legitimately exploit betting offers to make a guaranteed profit from free bets and bonuses.
The earning potential is so good that matched bettors can make anything from £500 per month, for spending 30 minutes a day doing offers, up to £2000 per month which is claimed by more dedicated practitioners. Best of all, profits from betting are tax free and thousands are taking up matched betting to boost their income.
Once explained, the method is quite straight forward. It involves placing a bet on an outcome to win with a bookmaker and backing the same selection to lose on a betting exchange. Search tools are used to find suitable bets and once you have your matched bets, a special calculator works out the stakes to ensure you make a profit.
Now here’s where another myth gets busted, “there’s no such thing as a bet you can’t lose”. Once you’ve qualified for a free bet, which costs a tiny proportion of your bet stake, the free bet can be converted to around 80% of its value in cash. This is because you haven’t paid for the stake. A bookmaker promotion offering a £25 free bet is worth about £20 cash and the only risk is in making a mistake in the relatively simple process of placing your bets.
If it’s so profitable, why isn’t everyone doing it? There are lots of people who stand by the cautionary advice “if it looks too good to be true, it probably is” and no doubt, people will be sceptical. But it doesn’t take much research to find matched betting has been endorsed by highly trusted media sites like The Telegraph, The Guardian, Money Saving Expert, Huffington Post and yours truly, Save The Student.
However, matched betting is not available to everyone. You must be over 18 to sign up with a bookmaker and because of geographical restrictions you must reside in the UK. You’ll also need a debit card as many bookmakers won’t make their sign up offers available for deposits using internet wallet systems like Neteller and Skrill. If you are interested in matched betting you should also consider the risks associated with gambling and only take part in promotions which guarantee a profit.