Money Pigz, through the art of matched betting, will boost your income indefinitely
Matched betting relies on the free bets given out by online bookmakers in order to work. Fortunately, bookies hand out millions of pounds in free bets each year in order to keep their customers betting. They are helping the gambling industry thrive and therefore bookies will continue to issue them, even though they know matched betting happens. This means we will always be able to make money online in this way.
The process itself seems quite complicated initially. But when you get used to the technique, it get’s easier and quicker to complete. A person proficient in matched betting can place the required bets in the space of minutes.
A “Back” bet – A bet placed backing the team “to win”.
A “Lay” bet – A bet placed laying the team off to “not win”.
Let’s say England are playing Spain in the World Cup Final, and we place both a back bet and lay bet on England. Whatever the result of the game, because we’ve covered ourselves of all possible outcomes i.e. winning, losing and drawing, we’re neither going to be winning or losing anything. Both bets cancel each other out.
Now, let’s say, for the same game, you have been given a £50 free bet to use from the online bookmaker. Using the same process of backing and laying your bets, you’re guaranteed to make a profit, since you’re using money that has been given to you. If you don’t win or lose anything from a £50 bet, you’re mathematically left with £50. You won’t be getting the full £50 as profit because there are these things called odds that are involved. However, you’re usually looking at an 80% conversion rate i.e. a £50 free bet should net you in around £40 of pure profit.
Back bets and lay bets are placed with different bookmakers. Back bets are placed with a sports bookmaker, such as William Hill, and the lay with an exchange bookmaker, such as Betfair. Back and lay bets are never placed on the same bookmaker.
What is the demand for matched betting?
Now, before we get into the nitty-gritty details, it’s interesting to see just how popular matched betting has become these days. There has been an incredibly sharp rise in the demand over the last couple of years, which can be seen on Google Trends. This is mainly due to the advancement of software. It’s now quicker and easier than ever before to learn how to matched bet. And due to the services available to us, we can build a really significant secondary income. Bookmakers are aware this is happeningbut because free bets play such a significant role in their profits, matched betting really isn’t harming them. There will always be loopholes within the gambling industry and this is one that will always be with us.
Matched Betting Google Trend 2012 – 2016
Bookmakers, Odds and Markets
What is a Sports Bookmaker?
A sports bookmaker, or bookie, is a person or organisation that takes bets on sporting and other events at agreed upon odds. Essentially, a bookmaker is a place where you can bet your own money for a chance of winning more money. There are hundreds of bookmaker companies online, most of which operate within the UK, such as Coral, Totesport and William Hill. In order to encourage customers to signup, they hand out £1,000,000’s in free bets and bonuses every year. It’s these free bets that matched betting occurs around and we can turn them into guaranteed profits all the time.
Hold on…why are the bookmakers letting this happen? Well, without delving too deeply into it, free bets and bonuses play a huge role in the scheme of profit for bookmakers. The loss they make in comparison to the net profit is too insignificant to even worry about matched betting. You have to remember, bookmakers like those above, are worth billions.
There is another type of bookmaker called the exchange bookmaker which works in a different way to the sports bookmaker. They are equally as essential to the process of matched betting. More about exchange bookmakers can be read further down this article.
When placing a bet with a bookmaker, you will always place it upon agreed odds. Odds represent the ratio between the amounts staked by parties to a wager or bet and are used to calculate your potential profit. In the gambling world they are usually seen in the fractional or decimal format. In the world of matched betting, the decimal format is preferred.
In gambling, the odds on display do not represent the true chances (as imagined by the bookmaker) that the event will or will not occur, but are the amount that the bookmaker will pay out on a winning bet, together with the required stake.
Let’s say England are playing Wales in the World cup final and with the bookmaker Coral, Wales are at odds of 5.0 to win the game. If we stake £10 on Wales to win, then our potential profit is simply worked out as follows:
Stake multiplied by the odds minus the original stake
£10 x 5.0 – 10 = £40
Odds are the fundamental factor in producing good profits from matched betting. They are known as “back odds” (for) on the sports bookmaker and “lay odds” (against) on the exchange bookmaker. It is imperative that we find very close back and lay odds when matched betting. This will ensure we maximise profit from all these free bets we have.
Simply put, a betting market is a specific type of bet for a specific sporting event. For each sporting event, there can be a huge variety of markets, particularly for high-profile events in sports such as football, tennis and rugby.
When matched betting, it doesn’t matter which market you’re betting on because you’re covering every possible outcome of that specific bet. Markets are something that can confuse matched bettors in the beginning of their money-making venture. With time however, they become easy to find on betting websites and your understanding will naturally improve. Below are some common markets explained for the biggest sport that people bet on, which is Football.
1X2, Win/Draw/Lose or Home/Draw/Away – This is the most familiar and easy to understand of the markets. This is simply betting on a football match to either win, draw or lose.
Correct Score – This is a market where you predict the correct score of the game at full-time. Another very popular market.
Both Teams To Score – This is a market where you can bet on whether or not both teams will score during the game.
Double Chance – Occasionally, bookmakers may reduce the 3 outcomes for a football match to 2, by what is known as ‘Double Chance’ betting, where a single price is offered on a win or draw.
Draw No Bet – This is a bet where the draw returns your stake. If the match you have bet on ends in a draw, all your money will be returned to you. No profit, no loss.
Goals Over/Under– This is a bet where you predict if there will be a certain amount of goals under or over a number. Again, very common in the world of betting.
Exchange Bookmakers, Lay Bets and Liabilities
What is an Exchange Bookmaker?
When you’re matched betting, you’re covering all outcomes of a sporting event that you’re betting on. The ‘lay bet’ that you place is always done on an exchange bookmaker, such asBetfair or Smarkets, which are the two most popular exchanges in the UK. Exchange bookies differ in that you are betting against other people, and not the bookmaker themselves. Essentially, they are a platform where you place a bet against other players, and the exchange acts as the broker between you, taking a percentage off the total pot. This is how you are always able to cover your bets.
Lay Bets and the Market
The important thing to note when placing your lay bet on the exchange is how much money is in the market at the time of betting. This can be seen under the lay odds you’re looking to bet on:
Showing how much money is currently in the market for those odds
When placing your lay bet, it’s important to see if the amount you’re betting is lower than that in the market, so your bet is matched. In this example, there is £2,667 in the market, so unless you place a bet of more than this amount, your bet will count.
However, if there isn’t much money in the market, then it’s possible your bet will become unmatched. What this means is that part (or all) of your bet doesn’t match the market, which could lead to loss of money.
There are ways to get around this, and in most cases, an unmatched bet becomes matched with time. But always try to look for markets with a high value to lower the risk of this happening.
In order to place your lay bet, you’ll always need enough liability in your exchange account. What this means is that you’ll always need a certain amount of money in your account in case you lose with the exchange. Of course, if you do lose with the exchange, you’ll always be covered by your win in the sports bookmaker. However, this can be a limiting factor in completing plenty of offers at one time since you need a big pot of money to be able to do so. The lower the odds you use, the lower the liability will be, but you will also be compromising on the potential profit gained from the free bet.
The red arrow pointing to liability on the bet slip of Betfair Exchange
Liabilities can be confusing to people who are starting off in their matched betting journey. The main thing is to not be put off by it. You will begin to understand much more about it as you become more proficient over time.
The Essence of Matched Betting
As mentioned earlier, matched betting relies on free bets offered by bookmakers. Without these free bets, we wouldn’t be making any profit, because we’d be using all of our own money (unless we are placing arbitrage bets). However, in order to release the free bet, we need to place a “qualifying bet”, which is the initial stage of the whole process of matched betting, and is where we use only our money.
Most bookmakers in the UK have signup offers, which entice customers to subscribe to their company and start betting. For example, SkyBet currently have a signup offer where if you place a £5 qualifying bet with them, you’ll receive a £20 free bonus, which you can then profit from. Sounds tempting, right?
Typical SkyBet Signup Offer
But if we have to bet some of our own money first to get the free bet, how do we make sure that we don’t lose?? Well, this is where we get down to the essence of the process.
When matched betting, we are ALWAYS backing and laying bets. When we are backing a bet, we are backing the team “to win” with the sports bookmaker, and when we are laying the same bet, we are betting that the team “doesn’t win” with the exchange bookmaker. In this way, we are covering our losses, but we’re not winning anything either. They effectively cancel each other out.
Ok, so how do we know what to bet on exactly? Well, we have developed a piece of software known as the Odds Matcher which will find them for you. More details of our Odds Matcher can be found below, but essentially, the tool automatically finds events with back odds and lay odds that are really close together.
Let’s say we’re going to use the following event to bet on:
Real data from the Money Pigz Odds Matcher
We know we’re going to bet £5 with Skybet at odds of 2.0, but how much do we bet with the exchange bookmaker Smarkets at odds of 2.0? Well, we can work this out using another piece of software known as the matched betting calculator, which again, is explained in more detail further down this article.
After plugging in the information in the Normal mode of the calculator, you will see your lay bet worked out as exactly £5, and you’ll need liability of £5.05 in your exchange account. The total loss from this matched bet is £0.05.
The Money Pigz calculator
The whole point of the qualifying bet is to release the free bet. It’s normal to see a small loss at the qualifying stages of matched betting, since lay odds are usually higher than their relative back odds. But of course, when we receive the free bet, the profit that will be made from it will completely compensate for any loss at a qualifying stage.
Once you have completed the qualifying stage of matched betting, the bookmaker will issue you a free bet to use. Now, there are different types of free bets that bookmakers dispense, and therefore, the way this stage is completed can differ. However, they are all based on the same method, which is explained below.
In fact, this stage is not entirely dissimilar to the qualifier. The general differentiating factors that we need to consider are:
We use the free bonus to back our bets.
We look for high odds to use to maximise profit.
We generally use the calculator in the SNR mode.
Following on from the SkyBet example given in qualifying bet tutorial, let’s say SkyBet have given us a free bet of £20 to use. We need to find another game to bet on, so we can use the odds matcher to find an event to use. Let’s say we find the event below:
Remember, the key to making good profits at this stage is by selecting events with higher odds. So, let’s say we find this game here, with back odds of 5 vs lay odds of 5.4. Using the calculator, we can work out exactly how much profit we are going to make using a free bet of £20:
Having selected the SNR mode of the calculator, we have worked out our lay bet as £14.87, our liability as £65.43, and our guaranteed profit of £14.57, whatever the result of the game.
Therefore, when we consider both qualifying bet and free bet, our total profit can be worked out as follows:
Total profit = -£0.05 + £14.57 = £14.52
So, this is the general way you can profit from online bookmaker offers. It is very important you read the Terms and Conditions associated with the offer because they will determine what events you can bet and at what minimum odds you need to use.
The Odds Matcher – Knowing what to bet on
The odds matcher is an excellent tool that makes matched betting so much easier. Previous to this software, people had to look for games with close odds manually, hence it was extremely time-consuming. What the odds matcher does is collect all of the odds data from online bookmakers across the UK and compares them the odds of exchange bookmaker’s, and lists them in order of rank. Although not essential to making money from matched betting, it is extremely useful and time-saving.
The Money Pigz Odds Matcher
The Calculator – Knowing how much to bet
There is also software in the form of a calculator which allows you to work out how much you need to stake when you’re laying off your bet in the exchange.
The calculator uses the odds found on the bookmaker (e.g. Ladbrokes) and exchange (e.g. Betfair / Smarkets) websites to work out both your lay stake and the liability (potential loss) you need in the exchange for the bet to happen.
Some Common Questions Answered
How much can you make from Matched Betting?
If you’re matched betting by yourself, without any assistance, then it will be more time-consuming, hence hinder your profits. If you join a matched betting service, not only will your matched betting be sped up significantly, you will have the full support of a community that can guide you in the right direction and find more matched betting opportunities for you.
You can easily make in the region of £500 to £1000, or even more, depending on how much time you are willing to put into it. The more offers you manage to complete, the more money you’re going to make. It’s really as simple as that.
Who can do matched betting?
Matched betting can be done by anyone over the age of 18 years and resident in the UK. It is ideal for those looking for an extra income, such as students and stay-at-home parents, and no experience is necessary since the method can be learned quickly, particularly if using a service. Once you have learned how to do it and placed a few bets, it becomes commonplace, giving rise to an easy money-making solution.
How much money do I need to start with?
You can start making profits with a little as £50, and then build your bank gradually from there. However, if you have more money to set aside for your liability in the exchanges, then you’ll be able to profit much more quickly.
Do I have to pay tax on my matched betting earnings?
Absolutely not, and this is one of the beauties of the system. Any winnings made from online bookmakers is never taxed in the UK, meaning you can spend the money as you please. Have a look at what HMRC has to say about it.
Can I still make money if I already have lots of bookmaker accounts open?
Absolutely. Once you have completed all the Bookmaker Signup Offers, you will always have the opportunity to make money from their ongoing “Refill” Offers. Offers simply do not run out.
What does Money Pigz do?
We don’t advocate that matched betting can’t be done without a service like ours. Hell, we’ve just given you a large bulk of what you need to know right here in this article. There is a lot of information on matched betting around the internet, and it can be done on your lonesome. However, information alone doesn’t help with the main issues matched betting is associated with, and this is where Money Pigz comes in.
The two main problems matched betting by yourself entails is that:
It takes a lot of time to find all of the bookmaker offers and read all of the Terms and Conditions associated with them, let alone very boring.
Due to its complexity, you are much more liable to make mistakes, which may cost you money.
Essentially, Money Pigz has broken down the whole process of matched betting and made it super easy for ANYONE to make money from it, whatever their experience. Our state-of-the-art software, easy-to-follow videos and bustling community means that Money Pigz is an environment where you can complete bookmaker offers and churn out profit quickly, safely and effectively. Not only this, our platform has been designed in a way that will help you make significant profits every single month – much more than you would do if you were matched betting by yourself. All you need to do is read our growing number of testimonialsto see how people are benefiting.
One of the keys to why matched betting with Money Pigz is successful is down to the Club we have built over the last year. We are hundreds of Money Pigz all working together in a close-knit community, helping one another achieve the best out of matched betting. Take a look at the video below, and whenever you feel ready to join the Club, we’d love to have you with us.
The whole reason we built the company, and what keeps us getting up every day and working around the clock, is that we are helping people. We’re improving their finances and making a difference in their lives, and we can’t be happier about that. We try to be as transparent as possible and seek to receive feedback from anyone and everyone who has tested our product and will continue to do so far into the future. Check out some of the words our community have left for us 🙂 You can read all our reviews here.
For some more awesome articles about matched betting, take a look at these:
Wikipedia – A naturally brilliant source of information. Just watch out for companies editing their own links in there.
The Telegraph – Here’s the biggest British newspaper giving it large.