How to make money from free bets, even as a beginner.
While you may think the bookmaker always wins, actually thousands of people make a profit every month from free incentive bets.
And I don’t just mean the ones that get lucky.
How do they do this?
They take part in what is known as – no-risk matched betting.
In this step-by-step guide, I’m going to show you why this is possible and how you can recreate the exact same results for yourself.
Whether you are 60 years old or a student, you can make extra cash from matched betting. And you may be turning your nose up thinking ‘well I don’t believe in gambling’. The thing is, it’s not actually gambling.
Because you cover all the outcomes of the ‘bet’, you are not at risk of losing money.
If you follow this matched betting guide, you can make side hustle cash risk-free and never lose a penny.
What Is Matched Betting?
Matched betting is a risk-free strategy of making money from bookmaker free bets.
Bookmakers are always advertising free welcome offers and incentives, to get new people onto their platform.
You might have seen one of their ads which goes something like; bet $5 and we’ll give you a free $20 bet?
So basically, when you sign up and spend your first $5, you get another $20 to play with.
Matched betting works by turning the free bet into cash which you can withdraw.
An average person would just gamble the free $20 bet away. But for every $20 free bet, I’m going to show you how to keep $15 of it through matched betting.
Matched Betting Explained: How it Actually Works
There are over 30 bookmakers in the UK alone. All of which offer a free welcome bet to new sign-ups.
Here’s an example of how matched betting works;
- See welcome offer ‘’bet $5 and get $20 free’’
- Find a match like England playing football against Germany
- Bet $5 on England to win and bet $5 on England not to win on another website
- This means all outcomes are covered: one bet will win, one lose
- Overall, you’ve not lost or gained any money, but you’ve unlocked the free $20 bet
- The $20 free bet is used in the same way as above to bet more and make more
- Or you can withdraw cash if you like
What Are the Benefits of Matched Betting?
Some people make $100s or even $1,000s extra income from matched betting each month. It really depends how much time you have each day. As a beginner, each offer takes around 30 minutes to complete and earns you $15 (if the free bet was $20). This means you can cash in $30 an hour. Here’s why else matched betting is so beneficial;
- All matched betting earnings are tax-free
- You can start with as little as $10
- After the welcome offers, some bookmakers give out more free bets to existing customers
Is Matched Betting Legal?
Yes, matched betting is 100% legal.
Every bookmaker gives away free incentive bets. If you are smart enough to turn these bets into free cash instead of just gambling it away, there’s nothing wrong with this.
Even William Hill, one of the biggest industry bookmakers, has said it has no problem with this use of free bets.
The bookmakers are savvy enough to know, not many people will use their free bets this way to make a difference to them.
There are dozens of free matched betting sites to learn from. But, this doesn’t mean you should use them all.
Some are a scam and some will charge you for the same information that can be found for free.
I can only talk about the one matched betting site I’ve used and love. This is Team Profit.
The team Profit platform is a completely free matched betting blog. It features in-depth matched betting tutorials, reload guides, casino guides and a monthly roundup of free reload offers (so you don’t have to find them yourself).
They even have an instant chat support team who are always available to answer questions when you’re putting your bets on. And you’ll need them when you start (I did!).
Make Money from Free Bets: Matched Betting Explained
Two platforms are used with no risk matched betting – the online bookmaker and a betting exchange.
At the bookmaker, we can put a $5 bet on England to win for example. If England doesn’t win, they take our bet. If England does win, we get our stake back plus winnings.
Backing a team is called the ‘back’ bet.
The betting exchange is where you place your ‘lay’ bet. This means you are betting that a team will NOT win or will draw.
By backing and laying you are effectively canceling out any risk.
What Money Is Needed to Start Matched Betting?
The amount of cash you start with determines how much money you make with matched betting.
The more you start with, the faster your profits will rise. This is because you need the money to place your back and lay bets, which will unlock the free bets.
The size of your bets is up to you. You can start with $10 or $500.
Once you start using your free bets, your bankroll will be used to match your bets at the betting exchange.
When learning the ropes, it’s totally fine to start with less. And once you know what you’re doing, you can increase your bankroll and work on multiple bets at a time to increase profits.
How Long Does It Take to Make Money Matched Betting?
The time you spend on matched betting is totally up to you. But the more time you spend on it, the more you will make.
Some people make thousands monthly from matched betting treating it like a full-time job. Others put in a few hours a week and see it as a little extra spending money.
For a beginner, it may take around 30 minutes to do your first bet. When more experienced, it may only take you 15 minutes.
A profit of $30 – $60 an hour is common from matched betting.
Making Money from Free Bets – Final Thoughts
I highly recommend you spend some time reading the Team Profit free matched betting tutorials. They are super in-depth explaining what matched betting is, right up to talking you through your first bets.
To further champion your success, you can use their free balance tracker, profit chart and spreadsheet to track your earnings.
Every month Team Profit posts a new page of reload offers so you can keep making money from free bets.
You really have everything you need to earn extra cash each month.
Have you tried matched betting?
What was your experience?
I’d love to know in the comments…
*Disclosure: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission.