Matched betting involves taking advantage of the free bets and other promotions offered by bookies in conjunction with betting exchanges such as Betfair to lock in a profit.
I have found that the best way to understand Matched Betting is by looking at an example.
Matched Betting Ireland Example
Bookmaker A is offering new customers a free bet of €10 when they sign up for an account. In order to obtain the free bet, the new customer must deposit a minimum of €10 into their account and then place a bet of €10 at minimum odds of 1/2 (or in decimal odds 1.5).
If you are not familiar with converting fractional odds into decimal odds, you can check out our conversion chart.
The €10 bet we have to place is called your qualifying bet and once your qualifying bet has settled you will be credited with a €10 free bet in your bookmaker account.
As a matched bettor, you can use an offer like this to your advantage.
The first step is to sign up and deposit funds into your Bookmaker A account.
You then place your qualifying bet (for example, you could place a €10 bet on Man Utd to beat Villarreal in the 2021 Europe League at odds of 1.90 at Bookmaker A).
Once you have placed your qualifying bet, you can go to a betting exchange like Betfair, and place a lay bet on Man Utd to lose the match at odds of 1.95 (see a screenshot from Betfair below).
In order to figure out how much we should stake on our Man Utd Lay bet, you need to use a matched betting calculator.
There are plenty of free ones available but for this example, we will use the free matched betting calculator provided by Profit Accumulator.
The calculator is in Pound Sterling but you can disregard this as the lay stake required will be the same in Euros.
Next, We enter the following information into the matched betting calculator:
- Our back stake at Bookmaker A (€10)
- The back odds we git at Bookmaker A (1.9)
- The Lay Odds that are available on Betfair (1.95)
- Lay Commission (for this example we used 0% but it can range from 0%-5%)
Now that we have entered all the required information, we can see that we need to place a lay bet of €9.74 on Man Utd to win at Betfair.
By placing the back bet at the bookmaker and the lay bet at the betting exchange, we are guaranteeing a small loss (€0.25 – €0.26) regardless of the result of the match (See payout table below):
|Man Utd Win||Villarreal Win||Draw|
|Bookmaker A Back Bet||+€9.00||-€10.00||-€10.00|
|Betting Exchange Lay Bet||-€9.25||+€9.74||+€9.74|
Once your qualifying bet has settled, you will be credited with your €10 free bet.
The next step is to convert your free bets into withdrawable cash.
Matched bettors generally attempt to extract 70% to 80% of the value of the free bet.
To do this they place the free bet on a selection with medium to high odds and then place a lay bet on the same selection at the betting exchange.
Some free bets are restricted to certain sports or events but if you do have a choice then It is often easier to find an appropriate selection in a horse race.
It is also a good idea to select a horse that has won its last race or has good recent form as this will make you look more like a mug punter.
Once you have found an appropriate selection for your free bet, you can use a matched betting calculator to calculate the amount you should lay at the betting exchange by selecting Free Bet (SNR) as the bet type in the calculator.
So for example, if we found a horse that we could back at odds of 8.0 at Bookmaker A, and lay at Betfair at odds of 8.8 then we could lock in a profit on our free bet.
As you can see from the above screenshot we are guaranteed to return at least €7.95 regardless of the result.
The total return from this offer would be €7.69 (€7.95 – the max qualifying loss of €0.26).
Hopefully, this example shows you how easy it is to lock in profits on free bet offers similar to the one used in our example.
Matched Betting Offer Types
Bet X, Get Y Offers – For these matched betting offers, you place a back bet at the bookie to qualify for the free bet.
You will then lay your bet at a betting exchange for a small qualifying loss.
Once you are credited with your free bet at the bookie, you will place your bet on a selection mid to high odds and then lay the free bet at the exchange to guarantee a profit. These sorts of matched betting offers are the easiest to complete.
Risk-Free Offers – If the bookie will refund a losing bet in cash, a matched bettor can lay this bet at the exchange and if the bet at the bookie loses, you will get your stake back from the bookie and also win your lay bet at the exchange.
You can also adjust your lay bet so that If the bet at the bookie wins, you will still profit.
Free bet if your first bet loses – For these matched betting offers, you know that you will get a free bet if your bet loses, therefore matched bettors can underlay their first bet, as they know they will be able to convert approximately 60-70% of the free bet they may obtain into cash.
By doing this, they can guarantee a profit regardless of the result.
Rollover Bonus Offers – Rollover bonus offers are the hardest offers for matched bettors to convert into withdrawable cash as they involve placing multiple qualifying bets before you unlock your bonus.
The aim of the matched bettor is to reduce the total losses on all the qualifying bets to an amount less than the bonus awarded.
Is Matched Betting in Ireland legal?
Matched Betting is 100% legal in Ireland. It is simply an intelligent way to lock in a guaranteed profit on free bets offered by bookies.
How much can you make from matched betting in Ireland?
If executed correctly, you can make around €500 from signing up to all the available bookmaker accounts.
Once you have completed the sign-up offers, you can make between €200 and €500 a month from reload offers from the different bookies.
Is Matched Betting worth the effort?
Although Matched Betting Offers aren’t as good as they used to be 10 years ago, there is still plenty of sign up offers for new matched bettors to take advantage of, so matched betting is definitely still worth the effort.
As Matched Betting has become more and more popular, bookies have responded by reducing the number and value of reload offers.
However, there are still some excellent reload offers around major sporting events such as the World Cup, Wimbledon, and the March Cheltenham Horse Racing Festival each year that generate some good profits year in and year out.
I still consistently make over €200 per month from reload offers offered by the bookies and I achieve this from only a few hours of work a month.
Best Bookmarker Offers for Irish Matched Bettors
You can pretty much apply matched betting techniques to all the bookie sign up offers listed on sites like OddsChecker.
However, we have listed some of the best matched betting sign up offers that Irish Matched Bettors can take advantage of.
|Bookie||Sign Up Offer||Offer type|
|BetVictor||Sports Welcome Offer – Up to €100 Matched Bet Bonus||Bet X, Get Y|
|Betfair Sportsbook||Bet 5 x €10, get a €20 free bet. Repeat process for a max of €100 in free bets.||Bet X, Get Y|
|Bet365||Up to €50 in Free Bet Credits||Bet X, Get Y|
|50% welcome bonus (max €50)||Rollover Bonus|
Bet €40, get a €40 bonus if it loses
|Free bet if your first bet loses|
Matched Betting after Sign Up Offers
Once you have completed all the sign up offers available to you, that doesn’t mean your matched betting adventure is over.
You can use the same matched betting techniques on reload offers from all the bookies you now have accounts with.
The reload offers won’t be as lucrative as the sign up offers but they can still bring in a modest level of matched betting income for you every month.
Some of the best Bookmakers for reload offers include Bet365, Betfred, BoyleSports, Betway, BetVictor, and William Hill.
You can also check out the reload offers section of our site for info on the latest reload offers from the bookmakers listed on our site.
How to Start Matched Betting in Ireland
For matched betting beginners, I would recommend that you sign up for a matched betting service like Profit Accumulator as they will provide you with a step by step guide to completing the whole matched betting process.
They will also provide you with all the calculators and tools you will need to maximise your profits from completing matched betting offers.
|Profit Accumulator is currently offering a free trial where you can earn up to €40 from completing your first two matched betting offers.|
We have also created a DIY Matched Betting Guide to help those people who want to do matched betting without the help of a paid matched betting service.