Set up an exchange account and a separate bank account, pick one simple sign up offer, and follow the same steps every time: read the terms, check the prices, place the bookmaker bet, lay it straight away, then check both bets match. Take it slowly at first.
Before your first bet
- Open a betting exchange account and deposit enough to cover a lay liability. £100 to £200 is plenty for small offers.
- Use one bank account or card just for betting, so you can see what's going in and out.
- Keep a simple record: date, offer, back stake and odds, lay stake and odds, result. A spreadsheet is fine.
- Have the matched betting calculator open on your phone or computer.
- Read how lay betting works, so liability doesn't catch you out.
Calculators you'll use:Matched betting calculatorFree bet calculatorLay bet calculator
Your first sign up offer, step by step
- 1. Read the offer terms. Note the minimum odds, the qualifying stake, which markets count and when the free bet expires.
- 2. Find a selection where the bookmaker's back odds and the exchange lay odds are close, for example 3.0 and 3.1.
- 3. Enter both prices, your stake and the exchange commission into the calculator.
- 4. Place the bookmaker bet first, at the odds you entered.
- 5. Place the lay bet straight away, at the lay stake the calculator gave you.
- 6. Check the lay says matched in full. If part is unmatched, wait or adjust the price.
- 7. When the free bet arrives, repeat with the calculator set to free bet, stake not returned. Higher odds, around 4.0 to 8.0, usually keep more of it.
Checks that stop mistakes
- Same event, same market, same selection on both sites. "Draw no bet" and "Match result" are different markets.
- Same odds you entered. If the price moved, recalculate before you lay.
- The right bet type in the calculator. A free bet entered as a qualifying bet gives the wrong lay stake.
- Enough in your exchange account for the liability before you place the bookmaker bet.
If you make a mistake, don't rush to fix it. Work out where you stand with the calculator first. Most mistakes cost a few pounds if you stay calm.
After the sign up offers
Sign up offers are the most valuable, but each bookmaker only gives one. After that come reload offers for existing customers, such as refunds, extra places and bet clubs. They pay less and need more reading. Many people use a matched betting service at this stage to find them.
The matched betting service we rate highest
Questions people ask
How much money do I need to start matched betting?
Enough for the qualifying bet at the bookmaker plus the liability at the exchange. For £10 offers, £100 to £200 in total is usually enough. You get it back as bets settle.
What odds should I use for a qualifying bet?
Odds that meet the offer's minimum, where the back and lay prices are as close as possible. That keeps the qualifying loss small.
Can I do matched betting on my phone?
Yes. Keep the calculator open in one tab and the bookmaker and exchange apps in others. Double check the selection on both before placing the lay.