Frequently Asked Questions
Yes. If it's legal for you to bet online in your country then it is perfectly legal for you to engage in Matched Betting.
Again, the answer is yes. Provided it's legal for you to bet online in your country then Arbitrage Betting is 100% legal.
With Matched Betting it is mathematically impossible not to show a profit so there is no risk whatsoever to your own funds if you follow the instructions correctly. Arbitrage Betting does carry a very small element of risk on any one given bet. However, the chances of not making a profit after placing several bets are realistically non-existent.
With Matched Betting, you can only receive the sign up free bets and bonuses once but a lot of bookmakers do make some offers to existing customers from time to time so there will always be opportunities to make additional easy money on an ongoing basis. But, to start with, you can expect to make �1,200+ from the sign up offers alone. And that's just from the top rated offers. We will also show you how to make easy money long term from arbitrage betting and trading.
You could get started with as little as �50 but that would limit you to taking advantage of the very small offers. Also, you would only be able to convert a relatively low percentage of those offers into free money because your lack of funds would mean you were unable to lay off at the optimum odds. Ideally, you should look to raise at least �500 then you will be able to take full advantage of most offers up to �50 and will quickly double your funds. You will then easily be able to take advantage of the much bigger offers.
No. Bookmakers only allow each customer to have one account and although not all bookmakers will ask you to do this, some may ask you to provide proof of who you are. This is a process called Know Your Customer (KYC) and usually involves you emailing the bookmaker's security department digital copies of some form of photo ID, a utility bill and any payment card you may have used to deposit funds.
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How many times have you heard the phrase, “You’ll never get rich by being honest in business”? Links to third party Web sites are usually ‘affiliated’, which means that the destination site pays the source site a commission amount based on income accrued from referred customers. Go to any betting related Web site and you will see flashing bookmaker banners and advertisements everywhere just asking you to click on them. As soon as you do, a cookie is attached to your computer/browser telling the destination site which address you have just come from so that any earnings the destination site makes from you can be shared with the relevant source referrer.
We are telling you this because you ought to know (if you didn’t already) and because we feel that there is not enough disclosure when it comes to convincing people to sign-up for anything on a Web site, especially gambling related content. Basically, if you sign-up through a third party link to a bookmaker or a betting exchange via adverts (such as those you will find on Soccerwidow.com), then the advertiser will receive a small percentage of the profits each bookmaker or exchange makes from you, usually for the lifetime of your account. Don’t get too excited as the real value of these schemes is discussed in our recent article: Affiliate Schemes. As you will see, we cannot confirm whether affiliate partnerships deliver everything they promise but you will have to subscribe to the bookmakers somehow, so you may as well do it through this site.
However, if you are going to go direct to the bookmaker’s site to sign-up, then we recommend you to clear your cache of cookies first so that no third party (including us) gets credit for your business (go into Control Panel and type in the search, ‘Cookie Cache’; you should then be given the option to delete all cookies and temporary Internet files).
In Soccerwidow’s constant battle against the bookmakers, we would be grateful if you signed-up through our site as any tiny amount of money we can collectively take away from the bookmakers is a result in the fight for fair play (see the general attitude of bookmakers and exchanges in our article Betfair Premium Charges). If ever we make any tiny amount of money from your betting activities then please consider it as a token payment for the information received by you on this site, precious income which helps to keep Soccerwidow running. There, at least we have been honest.
Before you begin learning the matched betting process, please familiarise yourself with the following preparatory steps:
Before you set-up any new gambling accounts, we advise you to acquire a new email address and use it as the sole portal for all your betting correspondence. create a different folder within that account for each betting company and file all emails like you are running a business, just in case you need to refer back later for dispute resolution. It also keeps things clean without inter-mingling your personal life with your betting activities.
Keep an Excel spreadsheet of all your individual bets to stay focused.
This will also help you to see patterns making the whole matched betting process quicker as you get used to it, and it will ultimately provide you with a ready and up-to-date record as a summary of earnings.
It is always wise from a records perspective to have everything neat and tidy and readily available should you have to provide evidence in a hurry to Inland Revenue of untaxed revenue appearing in your bank accounts. This is not a joke.
The saying ‘money begets money’ is important as you will need money in order to enter the matched betting arena. The bonus bets on offer are usually provided in the currency of your country of residence and for English speaking and European countries, the main currencies are GBP £, USD $ and Euros €. You will need an internet bank account with a Visa or Mastercard attached and at least 100 units of credit in your local currency. You will be using this account to make the initial betting account deposits and to facilitate withdrawal of winnings for recirculation into other new betting accounts and into the betting exchange float.
Importantly, ensure that the bank account you choose does not make a charge for gambling related transactions; check your terms and conditions. Some online banks do charge which in turn reduces your profit and means you will effectively be working hard for your bank for free, adding to their already enormous wealth with no real control over just how large a slice of your profits they might filter away from you.
You will need an e-wallet such as Paypal, Neteller and Skrill (Moneybookers), as for some bookmakers, this will be the only method of deposit and withdrawal possible from your country of residence.
You need to understand the difference between a back bet and a lay bet, including the ‘watershed’ at which they cancel each other out. If you don’t, then our article here may help.
You will need to understand the fundamental difference between a bookmaker and a betting exchange. At the former, you can only place back bets but pay no commission on winnings; at an exchange you are betting against other people like yourself and can place both back and lay bets but, the exchange takes a percentage of your winnings for providing the trading platform.
Basically, backing an outcome means you are betting on something to win, whilst laying an outcome means you are betting on it to lose.
Before you sign-up to any new betting account, check out online cash-back sites that usually have connections with some gambling related companies. This means that signing-up through their links might actually mean you receive cash-back on your deposits, thereby augmenting your matched betting income.
Again, most gambling affiliates won’t tell you this because they would rather you used their links to sign-up. In the UK, www.topcashback.co.uk and www.quidco.co.uk are the two market leaders in this field (don’t worry we’re not affiliated to these firms, so you can safely click on the links!). As we write, Quidco has links to over 90 different bookmaker and betting exchange accounts (under the ‘Entertainment’ category and then the ‘Gambling’ sub-tab)
You may find other cash-back sites, but read their terms and conditions very carefully. These two have been in the market many years and have kudos but recent history is littered with several examples of similar firms and start-ups which didn’t stay the course. The golden rule here is that once you have reached the withdrawal threshold in your cash-back sites, please withdraw the money immediately!
Before you open any bookmaker accounts, you will need one or more betting exchange accounts in order to place lay bets. The largest and most popular in the world is currently Betfair, which also has the greatest spread of markets, the highest liquidity to ensure your stakes get matched, and the easiest layout and user interface. Betdaq come next in the pecking order, and then an interesting, newly developed company, Smarkets. Whether WBX gets off the ground is open to question at the moment.
We recommend you definitely use Betfair and perhaps one of the others. In any case, you will need a minimum of 200 currency units in each exchange account you decide upon. This money is the betting exchange float.
As you go after the larger bonuses, you will find that a larger float is necessary in order to maximise and convert them into as much hard cash as possible.Coming up in Part 3…
The next part of this series provides a check-list of things you need to be aware of during the matched betting process.
We will then move onto the actual nuts and bolts of matched betting and detail the different strategies you will need to master in order to place successful qualifying bets, stake not returned free bets, stake returned free bets and understanding deposit bonuses and when and when not to treat them as stake returned free bets.
Lastly, there will be an ever-evolving list of examples as Soccerwidow moves from one offer to the next attempting to earn as much hard cash from the free money on offer. The traps and pitfalls will also be highlighted to help you not to fall into them.
You might enjoy these as well:
Part 3 - Check List: In this section of our matched betting tutorial, we look at some of the essential things you need to know and be in control of when you sit down and begin playing with .
Part 1 - Basic Knowledge: Many online bookmakers and betting exchanges try to entice potential new customers into registering and betting with them by offering free bets and sign-up .
Part 4 - Matched Betting Calculators: If you are serious about making money from matched betting then you will need to be completely familiar with the range of transactions required in .
So it’s hardly a new problem; account restrictions, limitations and closures (by bookmakers). Matched betting seems to have highlighted the problem for most.
But it’s not over yet (especially if you’re willing to go the extra mile). And if you’re a profitable trader there is a real bonus on offer!!Matched Betting Caused This…
Matched betting and various other bonus bagging methods has led to the bookies behaving like this. It must be tough for them as they want to keep up with the other bookmakers and their marketing campaigns.
It appears they’re now going too far though. I mean seriously; they offer a book on an event at their prices and then reduce me to 68p bets because I consistently beat them? they offered it!
Worse still you may have read articles about bookmakers sharing information on those matched betting and arbing. Several of you on twitter mentioned this, have you opened an account and been banned or limited before placing a bet? comment below!!
They’re also reported to be using programs like iesnare to monitor activity. If they’ve installed such program on your machine (to make sure you’re not money laundering) they may also be using it to see if you’re logged into Betfair at the same time as their website. Is that really right?
A couple pointed out on twitter that they don’t blame them for not wanting to business with someone who screws them on a daily basis as it must cost them a fortune.
I get that, I really do… but they started all the bonus offering and continue to run an old business model (pre-exchanges). Plus they’re hardly broke – Denise Coates Bet365 founder is a billionaire…
It amazes me how such practices are allowed to go on. Saving the best bit of the email until last…. the real insult;
“it doesn’t affect your ability to play and claim bonuses in our Gaming products”
Why not? Because you can’t win on them…
The only satisfaction I can get was it took them so long to catch me. Withdrawals for the last 3 months show a total of £12,927.30. So up yours 365…Matched Betting Brings Massive Value To Traders…
At this point that may not make sense to you. Dave Stewart asked this question on the Facebook Page…
A completely reasonable question from Dave there and I’m sure he won’t be the only one to ask it. So here’s why…
Trading Betfair‘s great… until you hit the Premium Charge, it’s a bit of a kick in the nuts as mentioned before on this blog.
So I and many others have looked for ways to reduce your own Premium Charge… there’s only really 3 possible routes;
Note: you’ll need to know the markets well to find the right opportunities… (especially on scale)
So you probably guessed it by now;
Outside of my trading activity I was placing value bets with Bet365 at valuable prices and covering the loss on Betfair. The end result being win-win, both through an arb (and making a loss on Betfair).
So when you think to the £12.927.30 mentioned above, only around £4,000 of that was profit. The rest had come over from Betfair.
That’s pretty awesome too, as a loss of £8,927.30 on Betfair means it’s still going in my bank, premium charge free!
I wasn’t matched betting! Hopefully you can all see what and why I was doing it now!Post navigation Leave a Reply Cancel reply
Too true. When I was Arbing (with my personal accounts) I was left with only b365. They were allowing me to place £1000-2000 bets, several times a day, every day. Reason = coz Issa losing. They finally gave me the ‘letter’ posted above, and it was curtains. I got my yearly statement from them , and it was a joy to see–stakes of £343,000….returned £390,000. So I whipped them for £57k. This in fact was in a 6 month period (as statement runs April-April) and I was banned in September .and I kept the screenshot for proof! Multiple IDs are fine; as long as not in your name. If you go it in your and you’re playing with fire. I arbed an initial £10 bonus … Only to get re-asked for id and then rumbled . The withdrawal was for £350. Yea £350! You try losing a £10 bonus, when you’re trying to lose it! Never happens , and I kept trying to lose it and ended up with £350! Which they swiped, and handed my £10 deposit back saying “multiple account”, bla bla. I posted a video on my Twitter , how to wipe iesnare and the only other precautions you can take is= using Betfair on a separate device + dongles for multiple ID accounts…they, apparently, produce a different IP address each time you use them.
How do you know where significant gamble is unfolding before it happens?
What about option 4-move to Betdaq?
always worth a crack too yes
Having worked in the industry i just want to clear up a myth. Bookies do NOT close accounts just because they are winning accounts….
These decisions are based on an overall profile of your business, if you abuse offers your account will be closed. It amazes me when punters complain about not being able to get bets on to then arb on betfair. This is a practice that is not welcome in the industry and hence why accounts are being closed.
Hi Rich. Waffle mate, they close them because they are taking value… Bookies routinely offer horrendous value under false pretences and stop exchanges from being promoted, if you work in the industry you’ll know this. I didn’t take any offers and even if I did; it’s an offer. Ludicrous. If it’s not welcome in the industry then don’t offer it, failing that get a better business model.
Bollocks.. I have had three multiple accounts in this past year restricted as soon as deposit was made.
Racebets actually didn’t restrict at point of deposit but as soon as I tried to place first bet..
Then I have had a few give me the qualifying bet then restrict me soon as the bonus was given.. Titan bet did this on 100 quid after my first bet won and took me to 350, then only allowing around 60p bets with 7 days to clear the 1000+ wager requirement.
These people are not only acting defensively but are being way to trigger happy in the process.
Funnily enough now I use 3 devices and keep my betfair on a device totally seperate to any bookies webpages I am having FAR less problems.
People get restricted or banned due to having evidence of or following links from matched betting sites and or exchanges.
I see it often over at the matched betting blog run by Matt that people are coming back stating that they had just followed his guide a signed up with X bookie only to be restricted straight away! this is due to him telling newbies to “click this link to take advantage of this offer”.
By doing so the bookie knows exactly where you have just come from as it show his address in the link or even if you had visited the site and opened a new tab it will still show due to your browsers history and cache etc.
I pulled him up on this only for my comments to get deleted! probably because he makes money through people using the links??
I have two browsers on one laptop, one for the exchanges and one for bookies and have never had an issue.
Hope this help someone.
I’m sure you have, but have you ever tried backing and laying between Betfair and other exchanges such as Smarkets or Betdaq? Maybe that is a way around Betfair charges.
Edge is lost due to paying double commission.
At BTC we have a varied degree of different skill sets on the community which enables us to really dominate all the different markets and opportunities, one of them we shall talk today is Bonus Hunting, the art of using risk free bets to make a full time living a few of our members do exactly that including Pro Trader Martin Futter. He was kind enough to edit an old blog post written by a member for us on the process…
I’m not going to go into the ins and outs of matched betting as that can be easily learned elsewhere but rather I am going to talk about how to do this as your main job and only income source. Basically how to be a full time bonus hunter…
We highly recommend the Earn 1k In One Hour A Day site! For newbies and for those who have already done a lot of matched betting! They train you to become a matched bettor and use software to help you easily make that free money!
Why would you want to do this full time??
To me the question should be, why wouldn’t you?! The advantages are multiple:
You can basically work whenever you want to, and take days off whenever you want. You have no boss to deal with, and if you're ex middle management like me there’s also the advantage of having no staff to deal with lol. Also you can pretty much earn however much you want to as long as you put the work in.
How do you first get set up and started??
1) First of all you need to be signed up to ALL the bookmakers. Its vital to have accounts with all of them so you can get the reloads and do all the offers available. Also signing up with all of them is the best way to build your betting bank which leads me on to number 2….
2) Have a decent sized betting bank.
To be able to do all the offers, you must have a good sized betting bank, id say minimum £5k but £10k would be much better. You should be putting about 75% in the exchanges(Smarkets and Betfair) and have the rest available to bet with the bookmakers.
The way to build this is to complete all the sign ups and offers that you can and not to spend any of that money until you have a bank ready to go full time with.
3) Have all the right equipment.
I have 3 laptops, 1 set on Facebook/Hotmail for alerts, 1 for the exchanges, matched betting calculators etc and 1 for the bookmakers. I have Wifi, mobile broadband and I use VPN too. I have a diary in which I post the big sporting events that are coming up and also I plan each day out in there. i have notebooks, pens and pencils for keeping on top of all the offers im doing(along with lots of spreadsheets).
You will also be emailed reloads/offers from the bookmakers, some will be worth doing and some not. A lot of the offers are regular and you will have these marked in your diaries to do each Saturday for example.
With the best bonus bookies, 888,Paddy Power, Ladbrokes, Betfair Sportsbook and Coral I would suggest regular checks maybe thrice daily on their promotions pages to make sure you are up to date with what they have to offer.
Everyones daily routine will be different. Everyone has other things in their lives that will affect this, also everyones goals will be different. When I first went full time I worked 16 hours a day, 7 days a week for about 9 months. I read everything I could on matched betting/bonus bagging and I got to grips with every offer so that I had the broadest knowledge possible. I now have more knowledge and can work a bit less, but I still have my own targets and work hard to achieve them. I personally now start work at 8.30am and work through till 6.30pm 6 days a week. Sundays, unless there are great offers on, I just lay off free bets from the previous days offers. I start the day by doing any sign ups I have to do. I then check all relevant sources for the daily offers and then just go about completing these on all my accounts.I then do all my days mug bets(I may have already done plenty of these if they were needed on the particular accounts I did offers with).
I check all sources again and again and that’s it really, just keep doing all of the offers available. It may sound simple but it is really. Just do every +EV offer you can and do them with all your accounts.
Maintaining Bookie Accounts
Once you're up and running this is everything really! I spend more time maintaining my accounts than I do completing the offers!! To make money long term from matched betting/bonus hunting you have to have as many accounts open as possible. Let me make this clear though, whatever you do YOU WILL LOSE ACCOUNTS! Its inevitable that at some point you will lose a few accounts, no matter how hard you work at keeping them. But don’t despair, as long as your multi accounting you can open more. BUT it is very very important to keep as many as possible for as long as possible. TO KEEP YOUR ACCOUNTS GOING YOU NEED TO LOOK LIKE A MUG PUNTER!! This is not an easy thing to do as the bookies aren’t stupid, and don’t want to lose money. Therefore the bookies are aware of people who do what we do and will severely limit/ban people who are seen to be making risk free profits or just doing their offers/taking their best odds. Bookies don’t want shrewd punters and they certainly don’t want punters who only do the offers. If you only do the offers and/or you always take value then your going to be closed/limited fairly quickly. What we need to do is to try and stay 1 step ahead of the bookies and make them think we are just recreational(mug) punters. This will mean our accounts stay usable and therefore profitable for longer.
There are a variety of ways to look more like a mug punter than a shrewd profiter:
1) DONT ALWAYS TAKE THE BEST ODDS! Never arb basically, the bookies will know your doing it.
2) DONT TAKE HIGHER ODDS ON FREE BETS! If all your qualifying bets are odds on shots then when you get a free bet you suddenly decide you fancy a horse at 8/1 thats obviously going to look dodgy! i like to keep my qualifying bets and my free bets at around 3/1 to 5/1 then it looks like those are the selections I make. Bookies monitor all accounts reguraly and you always have to be thinking about what they will be thinking when they look at yours!!
3) MUG BET MUG BET MUG BET MUG BET. This is the most important thing a full timer can do!! To “mug bet” means to place bets nothing to do with offers and instead place bets that the normal average guy/girl in the pub would place. These mainly consist of betting on heavy odds on favourites, Barcelona or Chelsea or Bayern Munich etc, betting on horse racing favourites and placing accumulators.
a) Every time you complete an offer mug bet back 15-25% of the profits. Basically if youve done say a bet £10 get £10 promo and made £7 then what I would recommend doing is placing 1 or 2 mug bets on favourites, LAYING THEM OFF OF COURSE! Then place a 50p accumulator. If it was a bigger offer and I made say £20 then id also chuck some money in their casino(see point 4).
b) Have a regular schedule of mug betting. Mug punters will always back their favourite football team whatever the odds so pick a team and back them every time they play(laying off as always). You can do this with Lewis Hamilton for example as well.
c) Bet outside of the offers. Like where you would bet on your favourite teams, also place bets with each bookie(laying off as always) on the big sporting events of the week. They will then see that your a regular customer who bets frequently and not just when they have special offers.
4) USE THE OTHER PRODUCTS THE BOOKIE HAS TO OFFER! If your a regular casino/bingo player then they will be less likely to want to lose you as a customer. If you just made £20 on a horse racing refund then chuck £2 on roulette or on some bingo cards. It really will help your profile.
This is a business and you must treat it like one. If you have completed all the offers and still want/need to make more money then go ask for some reloads! Go on live chat and ask for free bets/deposit bonuses. Some will tell you no, some will say that they don’t do that, but some(and youll soon learn which ones) will be giving. You can then lay off as needed, do rollover as needed and make yourself more money. I personally make at least 10% of my income from reloads that I go on live chat and ask for! Set yourself targets and keep yourself motivated. Your in control of your own destiny here. The tools are there and the process is there for anyone, regardless of their current life situation, to go full time with this.
Edited by Martin Futter (Martin is a full time matched bettor and long time member of Betfair Trading Community)
We highly recommend the Earn 1k in One Hour A Day site! For newbies and for those who have already done a lot of bonus bagging! They train you to become a matched bettor and use software to help you easily make that free money!
Once you have signed up and gone through this you will have a bankroll of thousands of pounds/euros/dollars with no risk whatsoever! (A great starting place for learning to trade!)Add new comment
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