In the UK, there are dozens of bookmakers. You’ll be familiar with some of them – Ladbrokes, Coral, Bet365, SkyBet, William Hill… the list goes on.
Being a bookmaker is competitive business. They’re all trying to attract you into their shops and onto their websites by offering special offers and promotions to new and existing customers.
Here are some examples:
Bet £50, Get a FREE £50 bet.
If your horse comes second, we’ll give you your money BACK.
100% deposit bonus, up to £100.
Bet 3 x £25, Get a FREE £25 Bet.
The list goes on and on.
The great thing about these offers is that you can turn them into guaranteed free cash by Matched Betting on them. I’m going to use one of the offers above as an example:
Bet £50, Get a FREE £50 Bet
Ladbrokes are offering John the opportunity to get a free £50 bet if he places a £50 bet with his own money first.
John, instead of walking down the road to the bookies – he decides to use Ladbrokes’ website. He BACKS Chelsea by putting £50 of his own money on Chelsea to beat Arsenal at odds of 2.50.
He then visits Betfair’s website and LAYS Chelsea to beat Arsenal. He’s accepted a £50 stake at odds of 2.50 (so John’s liability is £75).
Can you see what John has done here?
By BACKING and LAYING Chelsea to beat Arsenal at the same odds; it doesn’t matter what the outcome is because his BACK bet will cancel out his LAY bet. In other words, no matter what the outcome; he’ll have predicted correctly with one of his bets and incorrectly with the other.
Here are some possible outcomes:
John has lost £50 at Ladbrokes for incorrectly predicting that Chelsea would beat Arsenal.
At Betfair, John gets to keep the backers stake of £50 because John LAYED Chelsea. In other words he predicted that they would not beat Arsenal, and they didn’t.
The £50 that John has won at Betfair is cancelled out by the £50 he lost at Ladbrokes. The good news is that Ladbrokes now owe John a free £50 bet.
John will return £125 at Ladbrokes for predicting that Chelsea would beat Arsenal (50 stake x 2.50 odds = £125 return). He’s £75 in profit
John will also lose £75 at Betfair for predicting that Chelsea would not beat Arsenal.
The return from Ladbrokes is cancelled out by the £75 he lost at Betfair. But the good news is that Ladbrokes now have to give John a free £50 bet.
So as you can see, because John was able to BACK and LAY Chelsea at the same odds; he didn’t win or lose a penny, regardless of the outcome. For his effort, he now has a £50 free bet.
John was matched betting.
A free £50 bet is pretty cool. It’s just a free bet though and isn’t worth anything unless he uses it to correctly BACK an outcome. Right?
Wrong. Using a slightly different Matched Betting technique, John can guarantee that he’ll win money from his £50 free bet. In fact, he should be able to turn it into about £40 – £45 profit.
Matched Betting can be used in all sorts of circumstances with all sorts of special offers and promotions to make sure that you always win.
By matched betting using Oddsmonkey’s tools, support, information and tutorials; you can learn all of the ways in which Matched Betting is used to generate a tax-free income.
Now you are ready to sign up to Odds Monkey and start to earn that tax free money. Click any Odds mOnkey banner on these pages.
Alternativelty, If you wish to view a live offer and the actual steps taken, I have put together a mini guide for the Paddy Power Welcome Sign Up Offer --> Click Here
