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Matched Betting Online Spreadsheet Free

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A Guide to Preparing for Matched Betting

Preparation for Matched Betting Part 2 – Prep School:

How many times have you heard the phrase, “You’ll never get rich by being honest in business”? Links to third party Web sites are usually ‘affiliated’, which means that the destination site pays the source site a commission amount based on income accrued from referred customers. Go to any betting related Web site and you will see flashing bookmaker banners and advertisements everywhere just asking you to click on them. As soon as you do, a cookie is attached to your computer/browser telling the destination site which address you have just come from so that any earnings the destination site makes from you can be shared with the relevant source referrer.

We are telling you this because you ought to know (if you didn’t already) and because we feel that there is not enough disclosure when it comes to convincing people to sign-up for anything on a Web site, especially gambling related content. Basically, if you sign-up through a third party link to a bookmaker or a betting exchange via adverts (such as those you will find on, then the advertiser will receive a small percentage of the profits each bookmaker or exchange makes from you, usually for the lifetime of your account. Don’t get too excited as the real value of these schemes is discussed in our recent article: Affiliate Schemes. As you will see, we cannot confirm whether affiliate partnerships deliver everything they promise but you will have to subscribe to the bookmakers somehow, so you may as well do it through this site.

However, if you are going to go direct to the bookmaker’s site to sign-up, then we recommend you to clear your cache of cookies first so that no third party (including us) gets credit for your business (go into Control Panel and type in the search, ‘Cookie Cache’; you should then be given the option to delete all cookies and temporary Internet files).

In Soccerwidow’s constant battle against the bookmakers, we would be grateful if you signed-up through our site as any tiny amount of money we can collectively take away from the bookmakers is a result in the fight for fair play (see the general attitude of bookmakers and exchanges in our article Betfair Premium Charges). If ever we make any tiny amount of money from your betting activities then please consider it as a token payment for the information received by you on this site, precious income which helps to keep Soccerwidow running. There, at least we have been honest.

Before you begin learning the matched betting process, please familiarise yourself with the following preparatory steps:

Before you set-up any new gambling accounts, we advise you to acquire a new email address and use it as the sole portal for all your betting correspondence. create a different folder within that account for each betting company and file all emails like you are running a business, just in case you need to refer back later for dispute resolution. It also keeps things clean without inter-mingling your personal life with your betting activities.

Keep an Excel spreadsheet of all your individual bets to stay focused.

This will also help you to see patterns making the whole matched betting process quicker as you get used to it, and it will ultimately provide you with a ready and up-to-date record as a summary of earnings.

It is always wise from a records perspective to have everything neat and tidy and readily available should you have to provide evidence in a hurry to Inland Revenue of untaxed revenue appearing in your bank accounts. This is not a joke.

The saying ‘money begets money’ is important as you will need money in order to enter the matched betting arena. The bonus bets on offer are usually provided in the currency of your country of residence and for English speaking and European countries, the main currencies are GBP £, USD $ and Euros €. You will need an internet bank account with a Visa or Mastercard attached and at least 100 units of credit in your local currency. You will be using this account to make the initial betting account deposits and to facilitate withdrawal of winnings for recirculation into other new betting accounts and into the betting exchange float.

Importantly, ensure that the bank account you choose does not make a charge for gambling related transactions; check your terms and conditions. Some online banks do charge which in turn reduces your profit and means you will effectively be working hard for your bank for free, adding to their already enormous wealth with no real control over just how large a slice of your profits they might filter away from you.

You will need an e-wallet such as Paypal, Neteller and Skrill (Moneybookers), as for some bookmakers, this will be the only method of deposit and withdrawal possible from your country of residence.

You need to understand the difference between a back bet and a lay bet, including the ‘watershed’ at which they cancel each other out. If you don’t, then our article here may help.

You will need to understand the fundamental difference between a bookmaker and a betting exchange. At the former, you can only place back bets but pay no commission on winnings; at an exchange you are betting against other people like yourself and can place both back and lay bets but, the exchange takes a percentage of your winnings for providing the trading platform.

Basically, backing an outcome means you are betting on something to win, whilst laying an outcome means you are betting on it to lose.

Before you sign-up to any new betting account, check out online cash-back sites that usually have connections with some gambling related companies. This means that signing-up through their links might actually mean you receive cash-back on your deposits, thereby augmenting your matched betting income.

Again, most gambling affiliates won’t tell you this because they would rather you used their links to sign-up. In the UK, and are the two market leaders in this field (don’t worry we’re not affiliated to these firms, so you can safely click on the links!). As we write, Quidco has links to over 90 different bookmaker and betting exchange accounts (under the ‘Entertainment’ category and then the ‘Gambling’ sub-tab)

You may find other cash-back sites, but read their terms and conditions very carefully. These two have been in the market many years and have kudos but recent history is littered with several examples of similar firms and start-ups which didn’t stay the course. The golden rule here is that once you have reached the withdrawal threshold in your cash-back sites, please withdraw the money immediately!

Before you open any bookmaker accounts, you will need one or more betting exchange accounts in order to place lay bets. The largest and most popular in the world is currently Betfair, which also has the greatest spread of markets, the highest liquidity to ensure your stakes get matched, and the easiest layout and user interface. Betdaq come next in the pecking order, and then an interesting, newly developed company, Smarkets. Whether WBX gets off the ground is open to question at the moment.

We recommend you definitely use Betfair and perhaps one of the others. In any case, you will need a minimum of 200 currency units in each exchange account you decide upon. This money is the betting exchange float.

As you go after the larger bonuses, you will find that a larger float is necessary in order to maximise and convert them into as much hard cash as possible.

Coming up in Part 3…

The next part of this series provides a check-list of things you need to be aware of during the matched betting process.

We will then move onto the actual nuts and bolts of matched betting and detail the different strategies you will need to master in order to place successful qualifying bets, stake not returned free bets, stake returned free bets and understanding deposit bonuses and when and when not to treat them as stake returned free bets.

Lastly, there will be an ever-evolving list of examples as Soccerwidow moves from one offer to the next attempting to earn as much hard cash from the free money on offer. The traps and pitfalls will also be highlighted to help you not to fall into them.

You might enjoy these as well:

Part 3 - Check List: In this section of our matched betting tutorial, we look at some of the essential things you need to know and be in control of when you sit down and begin playing with .

Part 1 - Basic Knowledge: Many online bookmakers and betting exchanges try to entice potential new customers into registering and betting with them by offering free bets and sign-up .

Part 4 - Matched Betting Calculators: If you are serious about making money from matched betting then you will need to be completely familiar with the range of transactions required in .

Other articles

Beginners Guide - Matched Betting

Beginners Guide

Many online bookmakers offer free bets to attract new customers. This usually involves giving you a free bet or bonus if you stake a certain amount of money. For example if you sign up to Ladbrokes and bet £50 they will give you a £50.00 free bet (at the time of writing).

It is possible to use these free bet offers to make money, using a technique known as matched betting. As a general rule, you turn between 75% and 90% of the free bet into cash, depending on the offer. It takes a bit of getting your head around at first, but is well worthwhile as literally thousands of pounds of cold hard cash are available!

How much money can you make from Matched Betting

A quick Google shows numerous matched bettors earning £2,000 a month, but the honest answer is that it depends on how much effort you are prepared to put in. The more time you can commit, the more money you can make, but even if you can only spare a couple of hours a week, you can earn over £500 a month.

This guy made over £50k from bookies sign up offers!

There is over £1,000 profit to be made from sign up offers and much more potential profits from offers available to existing customers.

All you need to get started is a computer with an internet connection plus an initial bankroll of £50 to £100. You don’t need any previous gambling experience to be successful with matched betting.

Matched betting transforms any bet into a simple two way outcome. Basically, you bet at a bookmaker and then bet against the same outcome at a betting exchange. By covering all possible outcomes, you make guaranteed profits regardless of the result!

When you make a bet with a bookmaker, you place a stake on an event at particular odds. For this example, lets say Arsenal are playing Spurs. You go to Ladbrokes and place a £10 bet on Spurs to win at 2/1 (decimal odds 3.0), if Spurs win you would receive a total of £30 back, i.e. your stake of £10 plus the bookie’s £20. However if it’s a draw or Arsenal win, the bookie would gain your £10 and you would receive back nothing. In this example you have backed Spurs.

To put it another way, either Spurs win, and the bookie gives you money, or Spurs don’t win and the bookies keep your money. This is what is meant by any bet being a two way outcome.

Now imagine you are Ladbrokes. In this case if Spurs don’t win, i.e. the result is a draw or Arsenal win; you would gain £10. But if Spurs win you would pay out £20. In this example you have ‘laid’ Spurs.

So if you were to bet on the event (back) and act as a bookmaker (lay) at the same time, then whatever the outcome the back bet and the lay bet cancel out:

Outcome 1 (bet won – Spurs win):

You win £30, i.e. your stake of £10 plus £20 profit.

Ladbrokes lose £20

If you are both the punter and the bookmaker, your total profit is:

Outcome 2 (bet lost – Spurs didn’t win (drew or lost))

You lose £10, i.e. your stake.

Ladbrokes win £10.

If you are both the punter and the bookmaker, your total profit is:

In both cases the back bet and the lay bet cancel each other out. You neither lose nor gain money.

This isn’t that helpful for normal betting, but it is extremely useful for free bets, as it allows you to place a risk free qualifying bet. If you repeat the process with a free bet you end up with a profit that is roughly equal to the free bet stake. Using the same odds from the above example and assuming a £10 free bet:

Outcome 1 (Spurs win):

You place the free bet of £10 at 2/1 (decimal odds 3.0). Return is £30 with no outlay to you. On the lay side you lose £20, as before. Thus overall profit = £30 – £20 = £10.

Outcome 2 (bet lost – Spurs didn’t win (drew or lost))

Your loss on the back side is zero (as it was a free bet). You gain £10 on the lay side.

So whatever happens, you make £10!

In summary the process works like this:

  1. Sign up to a betting exchange such as Betfair.
  2. Sign up to a bookie offering a free bet.
  3. Place qualifying bet and use the matched betting technique outlined above to lay the same outcome at the betting exchange
  4. Do the same thing with the free bet
  5. Cash out profits
  6. Rinse and repeat with another bookie

Step 1: Sign up to a betting exchange

For the purposes of matched betting, the ability to bet against the same outcomes on which you have bet with a bookmaker elsewhere is what makes betting exchanges so useful. Backing an event with a free bet at a bookmaker and laying the same thing at the betting exchange is the essence of matched betting. Once you understand this concept you can make easy profits.

There are a number of alternative betting exchanges but Betfair is the biggest and has the most liquidity. Smarkets is a rival exchange that offers 2% commission but it tends to have less liquidity. Its still worth signing up for, as the commission saving can add up over the long term.

Step 2: Sign up to a bookie offering a free bet

The first step is to find a free bet and the best way to do that is to start with the offers section of this website.

Completing all the sign ups in the offers section totals over £5000 of free bets for you to turn into free money!

Its best to start with a smaller offer to get your feet wet. Coral have a great offer to get started; if you sign up and bet £5 you get £20 of free bets. Starting off with smaller offers means you can start with a smaller bank roll and minimises the impact of any rookie mistakes.

Click here to sign up with Coral and get started today!

Keep a record of your username and password. A program such as Keepass will come in useful to store passwords as you sign up with more and more bookies.

Always check the Terms and Conditions of the offer. Find out whether stakes are returned with free bets, and whether there is a bet-through requirement before you can withdraw the bonus. For the Coral offer, the qualifying bet can be placed on any sport at odds of 1.50 (1/2) or greater and the free bet stake is not returned.

Step 3: Place qualifying bet

The aim of the game here is to find a bet that you can lay at the betting exchange so that you lose the minimum amount of money.

Download the bet matching spread sheet which you can find on the link below:

This will allow you to calculate the amount to lay at Betfair, depending on the odds and stakes involved.

Most newbie’s tend to start by betting on football. Horse racing is best avoided at first at least as odds change very quickly and there are some odd rules (Rule 4 in particular) which increase the chances of things going wrong. Tennis can also have rule differences between the bookies and the betting exchanges, so isn’t advised for your very first matched bet.

You want to look for close back and lay odds to minimise your qualifying losses and maximise profits. The first time you do this it might take a while, but it’s worth taking your time to understand what going on.

The screen shot below shows that Coral offer odds of 1.40 on Man United to beat Swansea:

Betfair offer odds of 1.45 to lay Man United v Swansea:

The number in pounds below the odds on Betfair is the amount of stake money actually available at those odds. Make sure this is much bigger than the lay stake per the spreadsheet before continuing; otherwise find another event which has money available for laying. In this case there is £1,799 available to lay at odds of 1.45.

If you load up the spreadsheet, you’ll see you can enter a free stake amount. Enter £5. There is no stake forfeit on a qualifying bet, so enter the Stake Forfeit as 0.0.

The back odds are 1.40, and the lay odds are 1.45.

There is no commission at Coral, so enter 0 in the back commission cell. Your commission at the exchange must be entered (Betfair charge 5% commission)

The spreadsheet calculates the lay stake for you. Entering the figures above correctly will result in a lay stake of £5.00, and the ‘lay risk’ will be calculated as £2.25.

The lay risk is the amount of money that is required in your Betfair account to pay out the other person should you ‘lose’ your bet at Betfair.

Whatever the result of the event, you will end up with £4.75, i.e. you will lose 25p.

Outcome 1 (bet won – Man United win):

You win £7 at Corals, i.e. your stake of £5 plus £2 profit.

You lose £2.25 at Betfair

Your qualifying loss is:

Outcome 2 (bet lost – Man United didn’t win (drew or lost))

You lose £5, i.e. your stake.

You win £4.75 at Betfair (£5 lay stake less 5% commission of £0.25)

Your qualifying loss is:

So you will end up 25p down with £20 in free bets to come.

Now its time to deposit funds at Coral and Betfair and place your bets. Be careful here and take your time, as mistakes can be costly. First place the bet at Coral, but don’t confirm it – leave the window open at the final stage. Then click on the lay odds at Betfair and enter the value of £5 into the stake box – it should calculate your risk at £2.22. Return to Coral and confirm your bet, then go back to Betfair and confirm the lay. Check your account details at both sites to make sure:

you have backed and laid the same outcome (in this case Man United to beat Swansea).

Now all you have to do is sit back and wait for the end of the event. Some time later, your free bet will be credited, and you will have an increased balance at either the bookie or betting exchange.

Its time to make some money! Once the qualifying bet has been settled, Coral will credit your account with 4 £5 free bets, so £20.00 in total. This is perfect as you can place them one at a time, giving you maximum opportunity to learn the technique with small stakes.

The Coral free bets are ‘stake not returned’. This means that each £5.00 free bet will not be returned with any winnings.

The process of extracting profit from a free bet is pretty much identical to step 3. Again, you need to find close back and lay odds in order to maximise your profit.

Stake Not Returned bets should ideally be placed at higher odds (around 7.0 or higher) to extract the most value from your free bet. Higher odds can be found on the football correct score and half time/full time markets.

Coral have odds of 10.0 for Barcelona to beat Espanyol 3 -1:

This can be laid at Betfair at 11.5:

Now go into the spreadsheet and enter £5 as the free stake amount. The free bet is stake not returned so enter the Stake Forfeit as £5.

The back odds are 10, and the lay odds are 11.5.

There is no commission at Coral, so enter 0 in the back commission cell. Your commission at the exchange must be entered (Betfair charge 5% commission)

Entering the figures above correctly will result in a lay stake of £3.93, and the ‘lay risk’ will be calculated as £41.27.

Whatever the result of the event, you will end up with £3.73 profit!

Outcome 1 (bet won – Barcelona win 3 – 1):

You win £45 at Corals, i.e. your free bet returns of £5 at 10.0 less the £5 free bet stake.

You lose £41.27 at Betfair

Outcome 2 (bet lost – result other than 3 -1 to Barcelona)

You lose £0 at Coral as it was a free bet

You win £3.73 at Betfair (£3.93 lay stake less 5% commission of £0.20)

Your total profit is £3.48, being £3.73 from the free bet less the 25p qualifying loss from step 3. Plus you have is another £15 of free bets to place.

Congratulations! Your first step on what will hopefully be a successful matched betting career.

There are thousands to be made from bookmaker’s sign up offers, but that’s just the start. You can then make over £500.00 every month by applying the same strategy to reload and free bet offers targeted at existing customers. There are also casino sign ups, US bookies, shop arbing and arbitrage opportunities to exploit. Check out the offers section to get started today!

5 Tools You Should Be Using For Matched Betting - My Matched Betting Experience

5 Tools You Should Be Using For Matched Betting

In order to make the most of your Matched Betting experience, you will need to use tools to make the process faster, and help you make the most amount of money.

Therefore, I will be sharing with you 5 tools I believe every Matched Bettor should be using.

(Note: Don’t worry…Despite the name, Matched Betting is NOT gambling)

Tool 1: Odds Matching Software

Odds Matching Software

An Odds Matching Software helps you find the best odds for different matches. It allows you check the odds available for a particular bookmaker, in one easy to view table. Overall, this software helps make the process of looking for odds much less time consuming. If you didn’t use this software you would have to search through events on the bookmakers site, and then search through the betting exchange, which means switching between the different sites a lot. Therefore, a odds matching software takes out the hard work, which means more time to make more money.

  1. This is where you’ll find the list of bookmakers to select from
  2. This shows the date and time of the event (always pay attention to this, so that you bet on the correct event
  3. This shows the details of the event, e.g. if its a football match or a horse race
  4. Here you’ll find what you’ll place you bet on. E.g. For the 27/01/2016 Kempton 18:40 horse race, you’ll be placing your bets on ‘Miss Fortune’
  5. This is where you’ll enter your back odds. For your qualifying bet, you’ll enter the odds required by the bookmaker. For your free bet, you’ll place bets on higher odds depending on your budget >>>To understand this part a bit better check out Matched Betting: Getting Started!<<<
  6. This section shows you the betting exchange where you will be laying your bets.

Tool 2: Matched Betting Calculator

Matched Betting Calculator

The Calculator is set up in a way that allows you to calculate the profit (or loss) you will be making with each bet. It is much easier to use a calculator such as this, than to calculate all by yourself.

Bookmaker Stake: This is where you enter the amount you will be betting at the bookmaker.

Bookmaker Odds: This is where you will put in the odds from the bookmaker (you will find this using the Odds Matching Software). This is the odds at which you will be placing your BACK bet. Must be above the minimum odds specified in the free bet terms and must be as decimal.

Exchange Odds: This is where you will put in the odds from the exchange for the same event (you will find this using the Odds Matching Software). This is the odds at which you will place your LAY bet.

Exchange Commission: This is the amount of commission that you will be charged by the betting exchange. This can range between 1%-5%

After inputting all this information, and clicking ‘calculate’, you will automatically be given the amount you should lay at the betting exchange, as well as the liability, and the amount of profit (or loss) that you make. (see below)

Matched Betting Calculator – (With Guaranteed Profits)

Tool 3: Spreadsheet (or Pen and Paper)

Using a spreadsheet on Excel or Numbers (mac) is a great way to keep track of the money going in and out, and to keep an eye on where you’re making your profits. It’s a good idea to keep this in one place so you can refer back to it whenever you need to. I think having a note of all your bets and earning keeps things orgasnised. You don’t have to use a spreadsheet, you can always just used a good old fashioned notebook and pen. Which ever you choose, keep a record of your Matched Betting progress. You can create your own spreadsheet, or you can see a good example here.

Tool 4: Sign-up/Reload Offers!

In order to actually get started with Matched Betting, you’ll need sign-up offers that you can profit from. With these sign-up offers you get given a free bet/bonus which you will use to make your profits. If you’ve already signed up to a number of bookmakers, don’t worry, theres still many reload offers which you can take advantage of to make money. You can always manually search different bookmakers for their sign up/reload offers, however I would personally recommend using a Matched Betting Service (see below).

Tool 5: A Matched Betting Service

The use of a Matched Betting Service is a very important tool, as it makes the entire Matched Betting process much less time consuming. With a service you’ll get training and be able to find lots of sign up offers, reload offers, casino offers, bingo offers all in one place. This means that you’ll save so much time compared to looking for them yourself. Additionally you can get offers delivered to your email with some services, as well as offers posted on their forums. The service you used can be free or paid, so you can always find something to suit your budget. For more information check out my post on Matched Betting Services.

With the use of these 5 tools, your Matched Betting experience should be a lot less time consuming, and in the end will make you more profits.

Which of these tools are your favourite to use? Are there any other tools which you think are important for Matched Betting? Feel free to share your response in the comments section below.

5 Steps To Making Your First £300 Online With Matched Betting

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Feel free to share. About the Author Steph

I'm Steph and I created this blog to share my experiences of Matched Betting. My goal is to also share the methods and tools I use to earn a monthly income online with Matched Betting. I was a total skeptic before I started, but now I've been transformed. So now I want to help others understand what Matched Betting is really about, and why it's a GREAT option for anyone interested in earning an income online from home.

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