There are many different ways of earning money online, and in this article I will discuss just one of these methods: matched betting for online bookmakers bonuses. Before you read on any further, this will involve making bets online at (mainly) European based bookmakers, and so you will need to be 18 years old with a relevant debit/credit card available and no moral issues with online gambling.
It’s also worth stating that even though this method of earning money online will involve placing bets online, there is no risk involved. The only way something could go wrong is if you misread the instructions, or perform a human error. There isn’ chess gambling t really anything else that can go wrong, as long as you follow the set guidelines.
Online gambling is a very popular and lucrative market, with many high-street based bookmakers having their own website which can be used to place bets using the Internet. Nearly all online bookmakers have a sign up bonus or free bet. These are often long running promotional offers made available by the online bookmakers. The principle of matched betting involves opening accounts at the online bookmakers that offer a promotion, then betting to receive and then use the promotion. Then we simply move on to the next online bookmaker.
Usually to receive the free bet or bonus we will have to make a qualifying bet first. This is where we will make a bet at no risk (I will show you how later) and then we do the same thing with the free bet which we have just activated. We do the same with the free bet (make a bet at no risk) and then the free bet turns in to around %95 profit. So from a free£20 bet, we can usually make around £18 profit (depends on the odds we have available).
There is also cashback available too when we join an online bookmaker. If you join a free cashback website and then use the link on their website when joining a bookmaker whom you go on to bet with, you can earn cashback (usually around £20). So on average you can earn around £40 per online bookmaker; and there are hundreds of bookmakers to join.
The most important part of matched betting is being able to place a bet at no or minimal risk (it would be okay losing a few pence when qualifying for a free £20 bet). This is where an online betting exchange comes in to play. At an exchange (such as betfair.com) you can place bets as usual but you can also lay bets. When you lay a bet, you are basically backing an event NOT to happen. You can set your own odds, and set the stake of the money for the lay, and other online users can decide whether to accept your bet or not. So if you lay Chelsea to win the Premiership, with odds of 2.0 and a stake of £100, you will be betting against Chelsea winning the Premiership. If someone accepted your lay of £100 with the odds of 2.0, and Chelsea don’t win the Premiership then you will get to keep this £100 that the other user staked. However if Chelsea do win the Premiership, you have to pay out £100 of your own money (plus give the £100 stake back to the user). Basically at an exchange you get to take the place of the bookmaker; you can set your own odds and accept people’s money as bets.
Now with the introduction of an exchange, you should have an idea how to make a bet at no risk. If you back an event at an online bookmaker, and then lay this same event with the same odds at the exchange, you will not lose any money. In doing so, you should qualify for the free bet or bonus at the online bookmaker. Then if you do exactly the same thing with the free bet you will magically turn out with the free bet as profit. I will give you a detailed example below…
William Hill is offering a £20 free bet when you open a new account and place a £20 bet with them. Say you find odds on Man Utd to beat Arsenal at 3.0 at Will Hill, and you are able to lay Man Utd to beat Arsenal at the same odds at the exchange (Betfair.com in this example). If you back Man Utd with a stake of £20 at Will Hill and then lay Man Utd with a stake of £20 at Betfair, you won’t lose a penny of your money. Say Man Utd win – you will get £60 back at Will Hill – £40 profit. At the exchange you will have to pay out £60 (£20 bet stake and then £40 of your money) so this is a loss of £40. £40 profit at Will Hill is mirrored by £40 loss at Betfair. If Man Utd lost or drew the game, you would be in the same end position, but would have lost £20 at Will Hill but gained £20 at Betfair.
Now you should find a £20 free bet in your Will Hill account. Say you found another match with good odds; Southampton to beat Wolves at 2.0 at Will Hill and the same odds to lay Southampton beating Wolves at Betfair the exchange. Back Southampton with the £20 free bet at Will Hill. Now lay Southampton with £20 stake at Betfair.