If you’re new to matched betting and wondering how to get started, you’ve come to the right place.
I am sharing my personal journey and providing you with practical tips on how to start matched betting.
Let’s get into it…
Step 1: Understanding the Concept
Before diving into matched betting, it’s essential to grasp the underlying concept. Matched betting involves placing two bets: a back bet (placing a bet on a specific outcome to occur) and a lay bet (betting against that outcome to cancel out the risk). I’ve put together a list of the must know matched betting terminology [LINK]
By utilizing free bets and promotions, you can ensure a profit regardless of the outcome. While it may seem complicated initially, with practice, you’ll become familiar with the process.
Step 2: Research and Education
It’s crucial to invest time in research and education. There are several reputable websites, forums, and online communities dedicated to matched betting that provide valuable information, tutorials, and support.
Some popular platforms include OddsMonkey, Profit Accumulator, and MatchedBets. These websites offer comprehensive guides, video tutorials, and calculators to help you navigate through the process.
Step 3: Sign Up with Bookmakers and Exchanges
When you’re ready to start matched betting, you’ll need accounts with both bookmakers and betting exchanges. Bookmakers are where you’ll find the promotional offers, while exchanges are used to place the lay bets.
I’d recommend you sign up with well-known and trusted bookmakers and exchanges such as Betfair, Bet365, Ladbrokes, and Smarkets. Remember to take advantage of any welcome bonuses or free bets offered during the registration process.
Step 4: Utilize Matched Betting Tools
Matched betting tools can simplify the process and save you valuable time. These tools include odds matching software, calculators, and bet trackers.
The odds matching software scans various bookmakers and exchanges to find the best matches for your bets. Calculators help you calculate the exact stakes needed for your back and lay bets.
Bet trackers enable you to keep track of your bets, profits, and overall performance. I’d recommend you make your own spreadsheet to track this, you can make a copy of mine here [LINK]
Step 5: Start with Small Bets
When starting out, start with small bets until you become more comfortable with the process. This approach allows you to gain confidence and minimize any potential mistakes. As you gain experience and build your bankroll, you can gradually increase your stakes and profits.
Step 6: Follow a Systematic Approach
To be successful in matched betting, it’s crucial to follow a systematic approach. Plan your bets in advance, keep a record of your bets and profits, and double-check all calculations.
Need some top tips? Join my discord group to learn from me and others who are successful [LINK]
Remember to read the terms and conditions of each offer carefully to avoid any pitfalls. Patience and discipline are key to maintaining a consistent and profitable matched betting strategy.
Step 7: Stay Organized & Maintain a Separate Bankroll
To avoid confusion and potential mix-ups, it’s essential to stay organized throughout your matched betting journey.
Keep your betting accounts separate from your personal finances and maintain a dedicated bankroll for matched betting. This practice helps you track your profits accurately and ensures that you don’t accidentally spend your earnings.
So there you go. Those are the steps that I followed when starting out with matched betting. If you want to hear more about my story, you can read it here [LINK] and if you’re extra nosey and want to see my income reports, you can see these here [LINK].
Happy Matched Betting!
