I’ve been trying out matched betting for a few weeks now. It’s been great – risk free easy money. Nevertheless I can’t help but feel a little sad when the bookies are right and the underdog doesn’t win. When you use three different bookmakers and you put down random amounts of money to try and get your free bets, you don’t know how much money you’re going to make as it all depends on the outcome of the match.
As it turns out, there is an even easier way to get free money! It’s a little hard to understand at first but once you wrap your head around it you have guaranteed money and you know exactly how much you’re going to make before the match has even started. The way to do this is with an online betting calculator. There’s two different calculators that you use: one on one match to get your free bet, and one to turn that free bet into withdrawable money. Put in the numbers and it’ll tell you what to do.
It starts off with a bookmaker: just one bookmaker this time giving out a reasonable free bet. I chose Sky Bet from Online Betting School’s list of bookmakers as you only had to deposit £5 to get a free £20 bet. The first match I bet on was the Portugal vs Austria match, and although it ended in an uneventful 0-0, with the betting calculator I knew exactly what I was going to get out of it.
The calculator basically tells you how much to bet on each outcome in order to get your free bet without losing any money. You just put in the odds and the amount you’re going to spend in order to get your free bet (in my case, £5) and it tells you what to do to first earn back your money to then use that free bet to make a profit. I put in £18.37 of my own money in total for the first match, and won back £17.50, meaning I had an acceptable loss of just 87p whilst getting a £20 free bet from Sky Bet to use on the next match in order to get withdrawable winnings.
It may sound complicated, but to make things simple I used a betting exchange, Smarkets, to bet on two out of the three outcomes. The great thing about Smarkets is it tells you exactly how much you’re winning or losing so it’s easy to keep track of your money.
The next match I bet on was the Russia vs Wales game using my free bet. I put the £20 on Wales winning (which they did by a long shot!) and then spent £19.64 of my own money with Smarkets on the other two outcomes. The betting calculator had it so that whatever the outcome I would win £30… and I did! This therefore left me a profit of £10.36.
If you have a bit of money to spare, it’s worth a try. Online Betting School have a whole list of bookmakers and the amount each one offers in free bets which I will be working my way down for the rest of the Euros. With just five minutes placing bets, ten in total to make a profit, it’s pretty easy money. In that sense I earned a pound a minute – FAR more than I would waitressing! Furthermore this method is not only risk free but it’s far less hassle as well as there’s only one bookmaker you’re aiming to get a free bet from and the rest is kept nearly together in Smarkets.
Hopefully I’ll be making even more money using the betting calculator and Online Betting School’s list of bookmakers – I’ll tell you how it goes in my next blog. With a minimal amount of effort I could possibly be earning hundreds of pounds.