Matched betting uses bookmaker free bets to make a profit that doesn't depend on who wins. You back a selection at the bookmaker and lay the same selection at a betting exchange, so one bet covers the other. The small loss on your own bets unlocks free bets worth more.
How matched betting works
Bookmakers give free bets to win customers. On its own a free bet is a gamble. Matched betting removes the gamble by betting the other way at a betting exchange, where you can lay a selection, which means betting that it won't win.
Back a team at the bookmaker and lay the same team at the exchange, with the right lay stake, and you end up with the same result whatever happens. On your own money that result is a small loss. On a free bet it's a profit.
A sign up offer from start to finish
Say a bookmaker offers a £10 free bet when you bet £10. Here's how it plays out with 2% exchange commission.
| Step | Back | Lay | Result either way |
|---|---|---|---|
| 1. Qualifying bet | £10 at 3.0 | £9.74 at 3.1 | -£0.45 |
| 2. Free bet | £10 free at 5.0 | £7.72 at 5.2 | £7.57 |
| Total | £7.12 |
The qualifying bet costs a few pence. The free bet keeps about three quarters of its face value. You end up with the same total whichever team wins.
Work out the lay stake for any matched bet.Matched betting calculator →What you need to start
- A betting exchange account, with enough money in it to cover the liability on your lay bets.
- Bookmaker accounts that you open one at a time, as you take each offer.
- A calculator to set the lay stake. Ours handles qualifying bets and both kinds of free bet.
- Time to read each offer's terms: minimum odds, which markets count, and when the free bet expires.
You need money tied up at both sites until bets settle. The liability on a free bet lay can be several times the free bet itself, so check it before you start.
Matched betting services list current offers and walk you through each one, which saves a lot of time reading terms.
The matched betting service we rate highest
Is matched betting legal, and is it taxed?
It's legal in the UK. You're placing ordinary bets, and bookmakers set their own offers. Betting winnings aren't taxed for UK punters, so matched betting profits aren't either.
Bookmakers don't like it. Many restrict accounts that only take offers, by cutting stakes or removing promotions. This is often called being "gubbed". It's within their terms, and there's no appeal.
The risks
- Mistakes. Laying the wrong selection, at the wrong odds or for the wrong stake turns a matched bet into a real bet.
- Unmatched lays. If the exchange price moves before your lay is matched, part of your bookmaker bet is unprotected.
- A limited supply. Sign up offers run out, and ongoing offers are smaller and less frequent.
- Mortgage and credit checks. Lenders can see lots of betting transactions on bank statements and may ask about them.
- It's still gambling sites. If having bookmaker accounts open tempts you to bet for real, matched betting isn't for you.
Every figure on this page assumes the prices and commission shown. Your results depend on the prices you get and the offers you take.
Questions people ask
Is matched betting risk free?
Not completely. The maths removes the risk from the result of the race or match, but mistakes, unmatched lays and misread terms can still cost money.
How much can you make from matched betting?
It depends on the offers available to you and how many you've already used. Sign up offers are worth the most and can only be taken once per bookmaker. Be wary of anyone promising a set monthly income.
Do I pay tax on matched betting?
Betting winnings aren't taxed for UK punters, and that includes matched betting. If betting becomes your business, get advice.
What happens if a bookmaker restricts my account?
You can usually still bet, but with lower stakes or without offers. Any money in the account is still yours to withdraw.