Want to make guaranteed profit from bookmaker welcome bonuses? Matched betting is a mathematical technique that extracts risk-free money from free bet offers by backing and laying the same outcome. This beginner-friendly guide explains how matched betting works, how much you can make, and how to get started safely.
Last updated: January 2026 | By Darren Noble, The Online Betting Club
What is Matched Betting?
Matched betting is a technique that uses free bet offers from bookmakers to generate guaranteed, risk-free profit.
It works by:
- Backing a bet at a bookmaker (e.g., Man United to win)
- Laying the same bet at a betting exchange (e.g., betting Man United won’t win)
- Using the free bet from the bookmaker to lock in profit
Key points:
✅ Not gambling – you’re covering all outcomes mathematically
✅ Risk-free when done correctly
✅ Legal and legitimate – thousands of people do it across the UK
✅ Tax-free in the UK (gambling winnings aren’t taxed)
How Much Can You Make with Matched Betting?
Realistic Earnings Timeline
First month: £500-£1,000
- Sign-up offers from major bookies (Bet365, William Hill, Paddy Power, Sky Bet, etc.)
- £10-£50 profit per offer
- 20-40 offers available
Months 2-6: £200-£500 per month
- Reload offers (existing customer promotions)
- Casino offers (higher variance but profitable)
- Horse racing refunds and insurance offers
After 6 months: £100-£300 per month
- Gubbing (account restrictions) reduces available offers
- Focus shifts to advanced strategies or value betting
Total in first 6 months: £1,500-£3,500
Time commitment: 5-10 hours per week initially, 2-5 hours ongoing
Why Bookmakers Offer Free Bets
Bookmakers lose money on sign-up offers in the short term but profit long-term because:
❌ Most customers become long-term losers (90%+ of casual punters lose)
❌ Many don’t use the free bet or don’t understand the terms
❌ Emotional betting follows – people chase losses after the free bet is gone
Matched bettors are the exception—you take the free bet and walk away without risking your own money.
How Matched Betting Works (Step-by-Step Example)
Example: Bet365 “Bet £10 Get £30” Offer
Step 1: Qualifying Bet (Unlock the Free Bet)
At Bet365 (Bookmaker):
- Back Man United to win at 2.00 (evens)
- Stake: £10
- Potential return: £20 (£10 stake + £10 profit)
At Betfair Exchange:
- Lay Man United to win at 2.00
- Lay stake: £10 (covering your back bet)
- Liability: £10 (what you pay if Man United wins)
Outcome:
- If Man United wins: You win £20 at Bet365, lose £10 at Betfair = +£10 total (but you staked £10, so break-even)
- If Man United doesn’t win: You lose £10 at Bet365, win £10 at Betfair = break-even
Result: You’ve unlocked the £30 free bet at Bet365 with no loss.
Step 2: Free Bet (Make the Profit)
Now you have a £30 free bet at Bet365.
At Bet365 (using free bet):
- Back Arsenal to win at 3.00
- Stake: £30 free bet (no cash risk)
- Potential return: £90 (but you don’t get the £30 stake back, so £60 profit if it wins)
At Betfair Exchange:
- Lay Arsenal to win at 3.00
- Lay stake: £20
- Liability: £40
Outcome:
- If Arsenal wins: You win £60 at Bet365 (free bet), lose £40 at Betfair = +£20 profit
- If Arsenal doesn’t win: You lose £0 at Bet365 (free bet lost), win £20 at Betfair = +£20 profit
Result: Guaranteed £20 profit from a £30 free bet (typical 60-80% conversion).
What You Need to Start Matched Betting
1. Betting Exchange Account (Essential)
You must have access to a betting exchange to lay bets.
Best exchange:
- Betfair Exchange – Largest, most liquidity, 2-5% commission
- Smarkets – Lower commission (2%) but less liquidity
Why exchanges?
Traditional bookies only let you back (bet on something to happen). Exchanges let you lay (bet against something happening), which is essential for matched betting.
2. Bookmaker Accounts
Open accounts with UK bookies offering welcome bonuses:
Tier 1 (biggest offers):
- Bet365
- William Hill
- Paddy Power
- Sky Bet
- Betfred
- Ladbrokes
- Coral
Tier 2 (smaller but still valuable):
- 888sport
- Betway
- Unibet
- BetVictor
Important: Only open accounts when you’re ready to do the offer. Don’t create accounts “just in case”—you can only get the sign-up bonus once.
3. Bankroll
Starting bankroll: £100-£200
Why? You need to cover both back and lay bets simultaneously. The money cycles quickly (offers settle within days), but you need float.
Example cash flow:
- Place £50 qualifying bet (locked for 1-3 days until bet settles)
- Use free bet (locked for 1-3 days)
- Withdraw profit
- Repeat with next bookie
4. Matched Betting Calculator (Free)
Use a matched betting calculator to work out exact lay stakes and liability.
Free calculators:
- OddsMonkey calculator (free tier available)
- Profit Accumulator calculator
- MatchedBets calculator
Why? Calculators prevent costly mistakes and optimize profit from free bets.
5. Time & Patience
Time per offer: 15-30 minutes
Learning curve: 2-3 offers to feel confident
Total time (first month): 10-15 hours for £500-£1,000 profit
Common Matched Betting Strategies
1. Sign-Up Offers (Start Here)
The easiest and most profitable. Focus on:
- Risk-free bets (e.g., “Bet £10 Get £30 Free Bet”)
- Refund offers (e.g., “Bet £20, get £20 back if you lose”)
Expected profit per offer: £10-£50
2. Reload Offers (Existing Customers)
After sign-ups are exhausted, bookies send reload offers:
- Acca insurance (money back if 1 leg loses)
- Extra places (horse racing)
- Price boosts (enhanced odds on specific markets)
Expected profit per offer: £5-£20
3. Casino Offers (Advanced)
Some bookies offer casino welcome bonuses that can be matched bet.
Example: Deposit £100, get £100 casino bonus with 10x wagering.
How it works:
- Play low-variance casino games (e.g., roulette, blackjack with low house edge)
- Wager through the bonus requirement
- Withdraw profit
Expected profit: £20-£80 per offer
Risk: Higher variance than sports matched betting (short-term swings)
4. Each-Way Arbing (Advanced)
Look for each-way value on horse racing where the place odds are boosted.
Example:
- Back a horse each-way at a bookie offering 1/4 odds for 4 places
- Lay the win and place separately on Betfair
- Lock in small profit regardless of result
How to Avoid Gubbing (Account Restrictions)
Gubbing = when bookmakers limit your stakes or ban you from promotions.
Why Bookies Gub You
- They detect you’re only using offers and never “mug betting” (losing bets)
- Your betting patterns are too precise (always backing and cashing out at perfect times)
- You only bet on matched betting-friendly markets
How to Delay Gubbing
✅ Place occasional “mug bets” – Small accumulators or fun bets that look recreational
✅ Don’t always withdraw immediately – Let balances sit for a few days
✅ Vary bet sizes – Don’t always bet exact round numbers
✅ Bet on different markets – Mix in some random sports, not just football/racing
✅ Use in-play bets occasionally – Bookies love in-play punters
✅ Avoid betting at 4am on obscure events – Looks like an arber
Verdict: Gubbing is inevitable for serious matched bettors (6-18 months), but you can delay it with smart habits.
Risks & Mistakes to Avoid
1. Mismatched Odds
Odds change fast. Always double-check back and lay odds before placing bets. A 0.1 difference in odds can cost £5-£10 per bet.
Fix: Use calculators and check odds immediately before placing.
2. Bonus Terms Violations
Every offer has terms and conditions:
- Minimum odds (e.g., 1.50+)
- Bet types (some exclude accas or in-play)
- Expiry dates (free bets void after 7 days)
Fix: Read the T&Cs for every offer. Miss one rule = lose the free bet.
3. Laying Before Backing
If you lay first and the odds move, you might not be able to find matching odds on the bookmaker side.
Fix: Always back first, then immediately lay.
4. Chasing Losses
Matched betting is risk-free if you stick to the system. Some people start “gambling” with free bets hoping for bigger wins.
Fix: Treat matched betting like a job, not gambling. Follow the maths, lock in profit, move to the next offer.
5. Exchange Commission
Betfair charges 2-5% commission on net winnings. Factor this into your profit calculations.
Fix: Use a calculator that accounts for commission.
Is Matched Betting Legal?
Yes. Matched betting is 100% legal in the UK.
✅ You’re using bookmaker offers as intended
✅ You’re not cheating or exploiting software bugs
✅ You’re simply being a smart, disciplined customer
However:
- Bookies can restrict your account (it’s their right as a private business)
- You can’t matched bet if you’re self-excluded via GamStop
Matched Betting vs Value Betting
| Feature | Matched Betting | Value Betting |
|---|---|---|
| Risk | Risk-free (back and lay cancel out) | Positive EV but not guaranteed profit |
| Profit | £500-£1,500 in first 6 months | Long-term, depends on edge & bankroll |
| Sustainability | Dries up after sign-ups, risk of gubbing | Sustainable if you have skill |
| Skill Required | Low (follow guides, use calculators) | High (research, probability, odds analysis) |
| Best for | Quick cash injection, bankroll building | Long-term betting income |
Strategy: Start with matched betting to build £1,000-£2,000 bankroll, then transition to value betting for sustainable long-term profits.
Read our Betting Strategy & Systems Guide →
Best Matched Betting Tools & Resources
Free Tools
- Oddsmatcher (OddsMonkey, Profit Accumulator free tiers)
- Matched betting calculators (free online)
- Betfair Exchange (essential for laying)
Paid Services (Optional)
- OddsMonkey (£19.99/month) – Best for beginners, tutorials, daily offers
- Profit Accumulator (£19.99/month) – Similar to OddsMonkey
- Matched Bets (£17.99/month) – Cheaper alternative
Do you need paid services?
No. Everything can be done manually for free, but paid services save time with:
- Pre-calculated offers
- Live oddsmatcher
- Step-by-step tutorials
- Daily offer updates
Verdict: Try free matched betting for 1-2 months. If you’re making £500+/month, paid tools are worth the time saving.
Step-by-Step: Your First Matched Bet
Offer: Bet365 – Bet £10 Get £30 in Free Bets
Step 1: Open Bet365 and Betfair accounts
Step 2: Deposit £100 at Bet365, £50 at Betfair
Step 3: Find a football match with close odds (e.g., 2.00 back, 2.02 lay)
Step 4: Use matched betting calculator to work out lay stake
Step 5: Place £10 back bet at Bet365
Step 6: Immediately place lay bet at Betfair (calculator will tell you exact stake)
Step 7: Wait for bet to settle (win or lose, you break even or lose ~50p due to commission)
Step 8: Bet365 credits your account with £30 free bet
Step 9: Find a market with odds ~3.0-4.0
Step 10: Use calculator to work out lay stake for free bet
Step 11: Place free bet at Bet365, lay at Betfair
Step 12: Wait for bet to settle
Step 13: Withdraw profit (£20-£24 guaranteed)
Time: 30 minutes
Profit: £20-£24
Responsible Matched Betting
Even though matched betting is risk-free, it’s important to:
✅ Stick to the system – Don’t start “gambling” with free bets
✅ Track every bet – Use a spreadsheet or app
✅ Set time limits – Don’t spend all day on offers
✅ Know when to stop – After gubbing, transition to value betting or stop entirely
If you’re self-excluded via GamStop: Matched betting requires bookmaker accounts, so you won’t be able to participate. Focus on rebuilding healthy gambling habits first.
🔗 GamStop.co.uk – Free self-exclusion service
🔗 BeGambleAware.org – Support and advice
FAQs: Matched Betting
Is matched betting really risk-free?
Yes, if done correctly. You cover all outcomes
If you would prefer to have it all done for you (Selections, stakes etc) why not try our recommended solution Profit Maximizer it has helped people on the road in this fantastic money spinner for way over a decade, comes with a 30-day money back guarantee too so you have nothing to lose.