There are more than 25 online bookmakers in the UK. In order to attract new customers, they each offer free bets, known as ‘Welcome Offers’. In total they offer over £800 in free bets to new customers. An example offer is ‘Bet £5, Get £20 free bet’.
By using a technique called matched betting, we remove any risk our £5 bet could lose. This is because we match our first £5 bet on the bookmaker with a £5 bet on a betting exchange on the opposite outcome.
For example, we bet £5 on Man Utd to win on the bookmaker, and £5 on Man Utd not to win on the betting exchange.
As we have bet on all outcomes, regardless of whether Man Utd win, draw or lose, we will neither win nor lose money. However, we have received the £20 free bet! We now make a profit by repeating this process but this time using the free bet.
By repeating this across 25 bookmakers, we receive £800 in free bets which is worth £600 cash profit.
As you can see from this process, matched betting does not involve gambling at all, you will never be risking a penny.
Because we are always covering the opposite outcome occurring, there is never any risk we will lose money, however we still receive the free bets which will be where we make our profit.