How Does Matched Betting Turn Free Bets to Cash?
Bookmakers give money away in the form of bonuses and free bets. Matched Betting can be used to extract 60-85% of the total bonus or free bet amount as cash. This cash can be extracted no matter what happens at the end of the game, race, or match that is being bet on. As long as Matched Betting is done properly, win, lose or draw the cash can be extracted.
Here’s a brief outline of how Matched Betting on a free bet works:
The free back bet is placed at the bookmaker (e.g. for Team A to win). Immediately after that, one lay bet is placed at a betting exchange. This lay bet must be a bet that is directly against, or directly opposite to, the result that was just bet on at the bookmaker (e.g. it must be on Team A to NOT win). The stake (or amount) of the lay bet required at the betting exchange is always determined using a Matched Betting calculator. By laying the bookmaker's free bet off correctly at the betting exchange, it is possible to unlock the value of the free bet as cash, regardless of the outcome of the event.
A typical cash extraction on a free Matched Bet where the stake is returned is 85%+ of the free bet amount. For a free Matched Bet where the stake is not returned, the cash extraction is around 70%-80%.
This means if a bookmaker is giving away a £10 free bet - on average, using the written tutorials, video guides, community, calculators and other tools Outplayed provide, you will be able to ‘unlock’ approximately £7-£8 of that free bet as cash profit.
As another example, let's say a bookmaker is giving away £10 if you bet £10 on tennis. If the odds are right, it would be possible to bet on Player A to win and bet against (or lay) on Player A not to win at a betting exchange. Doing this would mean your original £10 is returned (as you have all outcomes covered) and you also get your £10 bonus from bookmaker. You then repeat the matching process (one bet at the bookmaker, and equivalent but opposite lay bet at the betting exchange) with your free bet amount to extract a profit.
It’s worth knowing that not all bookmaker free bets, offers, incentives and promotions are made equal. With over 50 bookmakers in the UK handing out incentives every day it can get overwhelming to work out which offers are best to do.
This is where Outplayed comes in.
Our expert team finds every profitable Matched Betting offer for you do, then list and categorize them for you too. If all that wasn’t enough - they also provide step-by-step guides, frequently with videos for you to follow. All this means is that you just login, pick the best offers for you, follow the guides and profit.
On top of all that Outplayed also provides you with all sorts of Matched Betting tools to help make the back and lay betting as efficient and effective as possible. Trying to do Matched Betting without everything Outplayed has to offer would become extremely time consuming.
You might have seen that some of the bonuses and free bets offered by bookies are for new customers only. Matched Betting works well beyond these initial signup offers though as the bookmakers also provide incentives, promotions, bonuses and free bets for their existing customers. In the Matched Betting community these offers are known as reload offers. As there are so many bookmakers in the UK all competing for their customers attention - there end up being reloads offers for us to profit on pretty much every day.