The Full Guide To Matched Betting

When I find out people who live in the UK have never heard of matched betting, I cry a little inside. A way for people to make £1000s of tax-free income with minimal effort which is basically exclusive to the UK? It sounds almost ludicrous, but it’s really not! Everyone normally moans that people in the USA earn more money, but I know people who are making over 5k per month from spending 20 hours a week matched betting on the side of a full-time job. Couple this with the fact that it’s tax-free, that’s basically a 10k per month income. We Brits seriously shouldn’t be complaining!

A lot of people who haven’t heard of it think that it’s some form of gambling and that it’s a bit dodgy and risky; IT ISN’T! Matched betting is risk-free!

If all of this is sounding a bit too good to be true to you, I implore you – just give it a try. There’s virtually no risk in doing so, very little time investment (you don’t even need to understand it to make your first £50!) and the software is so good at doing things for you, my Grandma could even do it. So, if you fancy making potentially an extra 120k per year income on the side, read on!

Also a disclaimer, this post will include affiliate links to the matched betting software (OddsMonkey), but don’t let that put you off. I’m not pretending just to make a quick buck. This is the real deal guys, I make over £1000 (equivalent of £2000 pre-tax income) per month from this software and have been doing so for almost 2 years. This is the number one tool in the UK FIRE pursuers arsenal which we’ve got against the US. Matched betting enables minimum wage shop workers to earn as much as CEOs. It unlocks FIRE for anyone and accelerates it. Don’t miss out!

Note: If you want the quick guide, head over to How to Make £30 in 10 Minutes.

Matched betting is a betting technique used to profit from the free bets and incentives offered by bookmakers. The process involves the individual placing a bet and then laying the same bet in an exchange. This will result in a small loss of the initial bet but should have unlocked a considerable bonus from the bookmaker.

Example (Place an £100 bet to get a free £100 bet)

  1. Place £100 bet on any sport
  2. Lay £100 bet in the exchange for the same outcome
  3. Lose £1.20 when the bet settles (commission for the exchange)
  4. Repeat process with your free £100 bet
  5. Withdraw your £97.60 profit

The lay bet usually differs depending on the odds and involves mathematics to calculate, that and finding the best bookmakers and exchanges and odds is what made matched betting quite tedious in the past. But in the last few years software has immersed which basically does everything for you; from finding the best odds to doing all of the lay math. It even allows you to lay directly through the software so you don’t have to go to the exchange!

The software which is recommended is OddsMonkey. They offer a free trial so you can see if matched betting is for you without investing a penny. They even hold your hand through-out the whole process with videos and written guides. Matched betting is actually not recommended without software as you then become more prone to human error.

The amount of money which can be made per month will actually depend on the amount of capital you have. If you have only £200 you should not expect more than £400 per month of profit initially. With £1000-£2000 you can be expecting a profit of £1000+ a month but this will come with the increased time commitment. With a pot of £5000+, there are even some matched bettors making £5000-£7000 per month with ‘casino offers’ using software like Profit Maximiser. But this is not recommended until you have completed at least the sign-up offers on OddsMonkey. There will be a separate section for casino offers in the future.

One of the best things about matched betting in the UK is that all of your profits are tax-free under the gambling tax legislation. So as you can imagine there are some people doing this as a full-time job as the profit can be staggering compared to taxed income.

In this guide, we’ll be walking you through the process of matched betting from the absolute beginning to earning your first £100. We’ll be discussing the tools to use, the way to document, what to watch out for and how to continue to make monthly tax free income after you have completed your sign-up offers.

Contents Page

1. Before You Start
2. Prerequisites – Not Getting Caught
i. Blocking IE Snare – Windows
ii. Blocking IE Snare – Mac
3. Setting Up Your Accounts
i. Preparing Your Spreadsheet
ii. Bets Tab
iii. Accounts Tab
4. New Account Offers
i. Introduction
ii. Getting There
iii. Tips
5. What Comes After New Account Offers – COMING SOON
6. Introduction to Variance Betting
7. Eachway Horse Race Betting
i. Sniping
ii. EW Betting Step by Step Walk Through
iii. Tips and Tricks
iV. Advanced Each Way Betting
8. Casino Offers – COMING SOON

Before You Start

To start matched betting you’ll need at least £100, this will cover you to do one bet at a time. The profits you make from these bets will soon multiply your pot of money so that you can start completing two or three bets at once and will enable you to earn faster. I recommend to only complete one bet/offer at a time until you are confident with the process, but after that, don’t be afraid to add more capital to allow you to earn quicker. If you really want no bounds, then you could complete all of the sign-up offers within one month with a capital of roughly £2000; this will net you a hefty £1000 tax-free income in your first month!

All matched betting requires software, the software will filter through thousands of sports bets and find the odds which match the best for you to lose as little as possible from your matched bet. It will do all of the maths for you telling you what to lay and what to bet (which is crucial as odds change quickly) and it will even list all of the best offers for you to complete with individual guides in writing and in a video. Matched betting can be completed individually but you will be open to human error and it will be so slow that it would almost not be worth it. We’re in this to make a profit, so this guide is going to assume that you’ve bought (what I think is the best software) OddsMonkey. Sign up through this affiliate link and you can even get a free trial and I guarantee you’ll earn your first month’s membership cost within one day of matched betting. So, go sign up now and then come back to this guide. You can cancel straight away if you think it’s not for you, what’s to lose?

Prerequisites – Not Getting Caught

Matched betting is fully legal, but as you can imagine, the bookmakers don’t want you to do it. They’re giving you promotions in the hope that you’ll spend more money with them. If they find out that you’re a match better, they’ll stop your account from getting promotions, this is what’s referred to in the matched betting community as ‘Gubbing’. It effectively means you’ve taken a pay cut as you can no longer get any tax free money from that bookie anymore. If this happens for one of the bigger bookies, you can potentially be down £100s per month.

A lot of Bookmakers use a web tool called IE snare. They market it as ‘reputation management’ in order to counter ‘fraud and abuse’. It tracks information about your computer and browsing habits. This tool would be able to detect a match better in a heartbeat due to them going to different betting sites and exchanges, and even matched betting sites. The first thing that I recommend doing before you even go onto any bookmakers website is to block IE snare!

How To Block IE Snare

Blocking IE snare via your firewall will stop it from being able to connect to the internet and send reports back to the bookies. To block it, we’ll need to edit your host file.

This is for a WINDOWS computer. Have a Mac? Click here.

1. Run Notepad as an administrator

2. In the ‘File name’ input field paste C:\Windows\System32\Drivers\Etc and click ‘Open’

3. Ensure that ‘All Files’ is selected

3. Right click on the ‘hosts’ file and click on ‘Properties’

4. Ensure that ‘Read-only’ is un-checked

5. Click ‘Apple’ then ‘OK’ to save your changes

6. Open the hosts file
It should look something like this (if you haven’t edited it before):

7. Copy and paste the following text to the end of the hosts text file

Your file should now look something like this:

8. Save the file (File -> Save), close Notepad and restart your computer

You’re done! You should now be safe from IE snare reporting your sharp punting ways to the bookmakers. Let’s start making a profit!

Click here to skip blocking IE snare on a Mac

How To Block IE Snare – On A Mac

1. Launch your Terminal and enter the following text: sudo nano /private/etc/hosts

Enter your password if prompted. This should open your hosts file.

2. Navigate to the bottom of the hosts file and then copy and paste the text below to the bottom of the file127.0.0.1

3. Type Control + O and then ENTER to save your changes

4. Type Control + X to exit.

Setting Up Your Accounts

Before you get stuck in, you’ll need to create the accounts below (in this order). You’ll need all of these accounts to help you stay organized and lay your bets.

1. Gmail

You’re going to be signing up to hundreds of bookmakers, you will not want to do this on your personal email address. The email of choice for speed and the handy ‘promotions’ tab is Google Mail. Make sure you do not name your new email address something like ‘[email protected]’ as this is something the bookies will spot and they won’t hesitate to ban you.

2. LastPass

You’re going to want to create a new LastPass account, ensuring you sign up with your new matched betting email address. You will be signing up to hundreds of bookies with different usernames, so, you’ll need something handy to keep track of all of your credentials, and you won’t want it mixed with your own personal password keeper.

3. Smarkets

Smarkets (<- register through this link to get £50 risk free!) is the number 1 matched betting exchange. It also has the lowest commission. You’ll be using this exchange where possible to maximize your profit.

4. Betfair and Matchbook

Betfair and Matchbook charge a higher commission than Smarkets. But sometimes you’ll need to use these exchanges as they’ll offer odds which more closely match the bet which you’ve placed. It’s good to create an account for each exchange so that if you need to make a quick lay bet, you won’t be stalled by not having access to a certain exchange.

Preparing Your Spreadsheet

NOTE: A new, more advanced matched betting spreadsheet has been made since this guide was written (this old one is no longer available).
Go to the Macro Enabled Matched Betting Spreadsheet post to download it.

I currently have 60 bookies in my matched betting spreadsheet. You’ll have bits of your money throughout a lot of these bookies. You’ll need to know how much less you have in your bank account, what bookies are still transferring money out to you and of course – how much profit you’ve made. For all of this, you definitely need a spreadsheet.

You can download my matched betting spreadsheet here. Grab it, and we’ll go through it below.

Bets Tab

This is where you’ll be recording all of your matched bets and free bets. For a lot of your bets, you’ll need to ‘qualify’ for the free bet by placing a normal bet, when that bet settles, you’ll then be able to go back and use the free bet.

The bet section is the perfect place to write what you have to do next for that specific free bet. For example – if the bet hasn’t yet been settled, I may add in the date and time that it’s going to be settled next to the bet description. You should also write the free bet in bold underneath along with any restrictions that it has so that you know to go back to that bookie and claim it.

Accounts Tab

This tab is pretty important as it will tell you where all of your money is. All you need to do is fill in the bookie/exchange name on the left and make sure you update the “Amount Paid Into” section each time you make a deposit. The “Amount In Account” section can be filled in weekly or monthly, this will be the fun time where you can see how much profit you’ve made for the week. “Amount Transfering Out From” and “Amount Paid Out” should be filled in whenever you request a withdrawal and when they do pay out. Some bookies may stall paying out to you, so you’ll definitely need to be referring back to this to see if you need to chase any of them up.

This section appears to the right of the Accounts tab. It will update automatically and tell you how much money you have in your accounts and exchanges. It will also help you to see what the difference in your bank is as you may want to know how much money you started with and withdraw that after your profits grow.

There are also two other tabs which you don’t have to worry about as a beginner. This is the ‘Schedule’ tab and ‘Casino’ tab. You will only use these tabs after you’ve completed all of your [link]signing up offers. There will be an addition to this guide at some point down the line explaining how to take advantage of a weekly schedule and casinos at a later date.

New Account Offers

Now you’ve put in all of the ground-work, you’re finally ready to start making a profit! Now, as I stated at the top of the guide – you need software to matched bet…But it’s worth it. This isn’t a get rich quick scheme or a course that I’m trying to get you to sign up to. This is guaranteed money! It’s also cheap and monthly, you can sign up to just the first month, make your money back in 5 minutes (not even joking) and then cancel your membership and not pay another penny; there will be no monster 12-month contracts here. Even if you don’t think matched betting will really be your cup of tea, I’d still implore you to sign up just for the first month, make £100 and try it out. At least then you’ll know what it’s all about and will be able to adequately decide if it’s for you. You can even sign up for a free trial, make some money and cancel! There really is nothing to lose, but so much to gain!

Get The Free Trial Of OddsMonkey Here

So – go and sign up to OddsMonkey via the link above, either pay the £17.99 for the first month (you can cancel, it’s not a contract), or sign up to the free trial if you’re still unsure, then come back here and I’ll walk you through the software and how to get started.


A new account offer is when a bookmaker gives you free money for signing up to their bookie. This is guaranteed profit for matched bettors and will be some of your most profitable offers. Completing all of the new account offers on OddsMonkey alone, will net you over £1000 tax free cash. In order to receive the new account offer, you must not have had an account with the bookmaker before. These offers are also limited to 1 per household, so, ensure that no-one else in your house has recently claimed the offer.

MatchedBetting has many facets and trying to understand all of them can be quite complicated at the start. It’s recommended to complete all of the new accounts offers when started out. This is for two reasons:

  1. They’re the easiest and most profitable offers to do, so they’re good for learning the ropes.
  2. You’ll need the accounts open anyway to do other Matched Betting activities, so after the new account offers, you’ll have them all created and ready.

Getting There

After logging into OddsMonkey, navigate to the ‘OFFERS’ menu item, then click on ‘New Account Offers – Bookmakers’. You do not want to do the new account offers for casinos and bingo until you have finished all of the bookmakers new account offers and are sufficiently ready to learn another dicipline.

You’ll then be presented with a categorized list of new account offers. Make your way down the list from top to bottom. OddsMonkey will walk you through the process of matched betting and hold your hand through your first bets.


  • Click on ‘Mark as complete’ next to the ‘View Guide’ button when you’re done. This will help you know which ones you still need to complete. Don’t worry, you can still mark them as incomplete again in the ‘Completed Guides’ tab.
  • Remember to fill in your spreadsheet after each and every matched bet, it’s important to keep track of your free bets.
  • Save filters on the Oddsmatcher as you search for certain bookies, this will speed the process up the next time you use that bookie.
  • Make sure you hook up your exchange accounts to the Oddsmatcher, this will allow OddsMonkey to lay the bet for you. Just click ‘Lay the bet’ when in the calculator instead of going to the exchange and it will walk you through the linking.

What Comes After New Account Offers

Coming soon

Introduction to Variance Betting

Variance betting is a little different to “traditional” matched betting. What we’ve covered so far in this guide is laying each bet in order to “lock-in” a guaranteed profit. For these types of bets you only need enough money to cover your exchange liability, with variance betting this isn’t the case.

Let me explain.

A good way of illustrating variance betting is using slot games. All gambling sites have to publish the exact figure that each slot pays out, this figure is called the RTP (Return To Player). One slot machines RTP may be 95%, that means that for every £100 it takes, it must pay out £95. That extra £5 (5%) goes to the house, that’s what they call the house edge. Have you ever heard the phrase “The house always wins”? That’s because of this tiny 5%. That’s how gambling companies make their money, everything has a house edge like this. The only time that they don’t have a house edge is when a matched bettor is playing (which is why they try and ban us!)

Matched bettors only gamble when the odds are in their favour. For example, if the gambling site offers a bonus, such as, wager £10 to get £10 for free. That 95% RTP is no longer accurate. Instead, you’ll be looking at a more favorable return of around 110% resulting in a positive EV (Expected Value) for you and not the house.

The only problem with these games is that it’s not guaranteed that you’ll earn £10 (110% of your wager) playing on the 95% RTP slot. This is because slot machines pay out on different degrees of variance. For example, you may lose £50 and then win £60. Or you may win £60 straight away. This problem is exactly the same for the house when the odds are in their favour, but they know that eventually the house always wins (if they have their edge)…So you need to keep on playing.

To combat this problem when variance betting I recommend to only “risk” 1% of your variance betting total bank (the amount of money you’ve put aside for it). So to take this gambling site up on their £10 for £10 offer you’d need a “bank” of £2000. This way you will always be able to “play out the variance” and you’ll always end up in profit. Remember the house (or in this case you) always wins, eventually, as long as the odds are in your favour.

Eachway Horse Race Betting

EW Betting is kind of like playing a positive RTP slot machine. On some of the biggest races the bookie actually loses money every time on the EW market and they even know this. They lose money because the odds calculated for each horse is based only off the win potential, not the place market (whether they come 1st, 2nd or 3rd) and with Each Way betting, you’re betting on the win and the place.

To demonstrate the positive expected value, take a look at the screenshots below.

If we look at all of the odds for this race and calculate the total probability, we can figure out how much the bookie is going to make on each race.

All of the odds are listed in the first column and the second column is the corresponding implied probability.

Adding up the total implied probability results in the total of 111.25%. This means that for this particular race, Bet365 is going to make a profit of 11.25% of whatever is staked (e.g. £11.25 if £100 is staked).

However, this is for the win only market, what we now need to figure out is the implied probability of the place market. To calculate this we must take the win odds, minus 1, divide by the EW payout (in this case 1/4), then add 1.

(Odds – 1) / (EW Payout) + 1

Using this formula we come to the total implied probability of 262.99% for the place market.

Because the bookie is paying out for 3 places the percentage that they need to break even is 300% and as we can see in the figures, they’ve not hit this. They’re actually losing 37.01% of everything that is staked in the place market. That’s £37.01 for each £100 staked!

This is where the value is for EW betting and how matched bettors can make a guaranteed profit! The bookies can’t help but lose money as they need to offer the same diminished odds for the win market as they do for the place market (otherwise it wouldn’t be an each way bet). Most other countries don’t actually offer EW betting anymore because of this very reason and it’s surely going to eventually be removed from the UK as well, so make the most of it whilst you still can!


There is also another method that you can use in order to reap an even greater reward, they call this “EW Sniping.”

Bookies are neferiously slow when it comes to updating their odds, the exchange however, is extremely fast. This is because their are thousands of people manipulating the odds by setting their own lay prices on each horse every few minutes. The bookies (who set their odds themselves) would never be able to keep up.

This means that if a person is quick enough, when a horse’s odds drop from 50/1 (£500 for a £10 win bet) to 4 /1 (£40 for a £10 win bet) on the exchange, they’d be able to quickly go to a bookie and place a bet on that same horse for 50/1 (before the bookie updates it).

This provides tremendous value, I once had an EW bet win on a horse which paid out £812 for a £10 EW bet. The odds for this horse when it left its post was only 7/1…I should have only got around £80. I bagged an additional £737 from using this sniping method.

This is where OddsMonkey again comes to our rescue. EW Sniping would have been extremely hard to do before OddsMonkey came along. You’d need advanced (and expensive) analysing tools for each bookie and the exchanges, you’d then have to manually monitor each race. OddsMonkey has built a tool exactly for our purpose. They can track all of the bookies and exchanges and let you know of any positive EV (Expected Value) horses that you can bet on, they call this the Eachway matcher.

EW Betting Step by Step Walk Through

So now you’ve got the background of EW betting and why it is profitable, let’s walk you through how you can actually do it. For this demonstration, I’ll be using the Eachway matcher on OddsMonkey (I don’t recommend doing this without it).

The first thing you’ll need to think about is your total “bank” size. This will be the amount that you can confidently set aside for EW betting. It will also directly dictate how much you will earn as the greater your bank, the greater your stake size.

Once you know your initial bank size, you can use this figure to calculate your stake size. Your each way stake should be no more than 1% of your total bank. So, for a £500 bank, your total stake size should be £5 (£2.50 each way). For a £2000 bank, £20 (£10 each way). This 1% figure should be recalculated each week or month (depending on how much you’re betting).

Now that you’ve got your money ready, we need to go and set up the Eachway matcher filters on OddsMonkey. This is the tool that will find the horses for you to bet on so it’s important that we set up the filters correctly.

Head over to the OddsMonkey website and click on the Eachway matcher via Tools -> Matchers -> Eachway matcher.

Then click on the Filter option and set these exact options:

Sports: Horse Racing
Markets: Horse Racing – Winner
Bookmakers: (Whoever you’re currently betting with, see Which bookies to use section)
Exchanges: Smarkets, Betfair
Each Way Rating: 100 to 200
Normal Arb Rating: 80 to 200
SNR Rating: 0 to 200
Back Odds: 6 to 200

You’ll also have to go to the Oddsmatcher (Tools -> Oddsmatcher), click on the ‘Commission’ button and change Smarkets and Betfair commission to 0%.

Doing this means that you don’t have to worry about the different exchange commission amounts when looking at horse ratings in the Eachway matcher and it will save you a lot of time when deciding on if you should bet on a horse (when you’re trying to be quick!)

Awesome. Now you’re ready to start making some Each Way money! Click on the arrow next to the refresh button and set the matcher to auto refresh every 1 minute. Eventually you’ll get some horses come up, like this:

When one pops up, you’ll go to the Bookmaker and place your EW bet (however much your bank can support) on the corresponding horse. Make sure you check the ‘E/W’ box!

Be careful and make sure that the odds are the same on the bookie and the matcher, sometimes the odds can fluctuate a lot when a race is nearly starting, so you have to be quick (that’s why it’s called sniping!)

When you place a bet on a horse, note down the time and horse name somewhere (I use Notepad when I’m betting on my PC and Google Keep when I’m on my mobile phone).

4.45 Uno Valoroso

The reason that you write this down is because you don’t want to be betting on the same horse twice and you don’t want to bet on the same race more than 3 times.

At the end of the day (or early in the morning), go to each of the bookies that you placed bets on and update your matched betting spreadsheet with your new total balance. You can then note down your total profit in the ‘Profit Snapshot’ section and find out how much you lost/won on that particular day.

Remember that you can also lose money each day, just make sure that you trust the expected value and keep on going (and never risk more than 1% of your total bank), it’s very rare that you’ll end the month with a loss.

Tips and Tricks

  • A lot of good snipes show up at around 11am, you can make a decent monthly profit just keeping an eye on the matcher for 15-30 minutes at 11am each day.
  • There are more horses available towards the end of the week.
  • Make sure that you EW bet with your browser in Incognito Mode. This makes it harder for the bookies to catch you and keeps your bookie tab separated if betting on your mobile phone.
  • Bet365 and Ladbrokes are extremely generous bookies, utilize these first when big events are on (like Cheltenham).

Advanced Each Way Betting

After you’ve got the hang of each way betting, there are some more advanced methods that can bag you even more profit. These are methods such as betting on doubles, triples or even 4 fold horses on different races.

Doing this means that your bet count can increase into the hundreds per day but it will also increase your variance (and your profits) drastically. accumulative bets can net you insane amounts of profit like it did for TheFIREStarter when he made over £11000 (tax-free) in a single day.

But, I recommend only moving onto these methods when your bank has grown and when you’ve got the basics nailed down. Because of this, I’ll be writing the advanced each way betting section at a later date.

Casino Offers

Coming soon

Sorry for the boring post if you’re already using OddsMonkey to make a second income. I just had to do a post about it as I believe that it’s the UK FIRE pursuers number one tool and that everybody should be utilizing it.

If you’re still thinking about whether you should give it a try – that maybe you don’t have the time, or it sounds like gambling. Please, just give the trial a go, it’s free! After you’ve passed the initial learning stage (and netted about £1000 tax-free profits), there are a plethora of other matched betting techniques which you can utilize, some of which barely takes any time at all. I am actually only matched betting between 30 minutes and 1 hour per work day and I’m banking over £1000 per month. I’d have to get a pay rise of £30,000 per year to earn the same amount of after-tax money per month extra which matched betting is getting me. All for a meager few hours a week. It is truly life changing.

I’d like to offer any of my Ninja followers to comment below if they have any questions or get stuck with anything! All questions are OK, I’ll get back to all of you as fast as I can. I’ll even help you through your first steps if you’re struggling.

Matched betting is making me rich, I want my Ninja’s to be rich too! We are a clan after all ;]


64 thoughts on “The Full Guide To Matched Betting

  1. Good detailed MB post.

    I’ve only ever hit >£1k in one month and that was when I was unemployed so had more time to MB!

    That said, I’m only on quite small stakes, going more for smaller but steady profits, much like my investing strategy!

    I’m not convinced about IE Snare though – I want to appear to bookies as a ‘normal punter’ and normal punters don’t have such blocking software. But if it works, then why not, I guess.

    Also, risk free but not from risk of human error! I’ve suffered from ‘fat finger’ syndrome occasionally, forgotten to lay, backed or layed the wrong horse, etc, etc.

    1. Thanks Weenie 🙂

      Yeah, I must admit – after the initial new offer period, I started continuously making 1k+ per month when utilizing casino offers, which a lot of people don’t like due to the variance. I’ll be updating the guide to cover those and EW bets in the future!

      With IE snare, the bookie shouldn’t be able to know that you’ve blocked it, they just won’t be able to communicate with it. They’ll be 100 different reasons why this would be the case, I don’t think it would single a smart punter out. I’ve actually had IE snare blocked from the very start and I’ve never been gubbed on any of my accounts. I think I’ve only made 3 gub bets in total as well (right at the start).

      Saying this – A lot of my activity after the new account offers were accas and casino offers, which aren’t as risky.

      Yeah, human error is a big one! I once tried to do a Betfair casino offer of bet £5 and get £5, I accidentally left the spins at £10 per spin instead of £1, only realized after I’d spun £50… I won nothing too!

  2. I’ve just signed up to Odds Monkey and going through the new user offers with a £1.5k investment so I can easily lay larger odds bets if I need to.

    I’d be very interested to hear what you do after that to make a consistent £1k per month

    1. Hey Indy,

      Please do come back and let me know how you’re getting on 🙂

      There’s a whole load of stuff you can do after the new account offers! The only problem is spending too much time on matched betting! Which is why I created the ‘Schedule’ tab on the spreadsheet; to try and spread out your activity a bit. Currently, I’m doing a lot of EW betting and casino offers. I’ll be updating the guide in the future with these techniques, hopefully before you finish your new account offers 🙂

  3. Good article, especially the IE Snare blocking tips! I did lots of matched betting a year or so ago and got a few thousand out of it but found maintaining many accounts quite time consuming. I was pretty savvy with my tracking but some great additional tips here will no doubt tempt me back again. I’ve been mainly focused on Each Way betting right now having good success there. As I place nearly all my bets via apps on my phone do you know if there is a way to adopt a similar IE Snare block on mobile devices?


    1. Hey Dan!

      Thanks for the praise 🙂 My foray right now too is EW betting. It’s just so low effort! I haven’t actually attempted to block IE snare on my phone, I’d imagine they can’t install it on Android or iOS though – I’d be very impressed if they could! Tracking software like this plagues desktops but isn’t as prevalent on mobiles. EW is meant to be relatively punter’y too, so you should be pretty safe if you’re EW betting with no promotions and keeping your stake moderate. If you do get limited it would probably just be on your maximum EW stake, not promotions.

      My current schedule is seeing a lot of EW betting, casino offers if I have some spare time, and matched bets if there’s a big one on (like the awesome bet £75 get £75 grand national offers!). As my bank is pretty big, I tend to go for the higher variance more profit side of matched betting. It’s important for new starters to get the grasp of things first though and work through the new account offers – easy money!

  4. Nice, comprehensive guide!

    I only started matched betting a few months ago, so I’m still working my way through all of the various sign-up offers. I’ve read about each-way horse racing before, but I’m certainly looking forward to reading your take on it as that seems to be where some of the big money is at the moment.

    As an aside, I have to say I’m super impressed with how professional your site looks considering it’s not even two months old! I’ve enjoyed reading through it since seeing it highlighted on TFS’ blog.

    1. Thank you Dr FIRE! I really appreciate all of your kind words 🙂

      EW betting is going really well for me at the moment. The higher the variance, the more your profit will be – you just have to trust the odds!

      Check back once you’ve completed the sign up offers and they’ll hopefully be some additional sections on what’s next 🙂

  5. I’m a Mac user and I’m having trouble with the ‘control + O’ and ‘control + X’ step. When I Control+O I get a new menu, but ‘Control+X’ doesn’t do anything – aside from give me a disappointing error sound.

    I assume I’m doing something (probably quite obviously) wrong, but I can’t work it out.

    Any suggestions?

    1. Hey Mark,

      Try control + X straight after editing. It should give you a dialog asking if you want to save these changes. Hit Y and enter to save then press enter again. To see if it’s definitely saved, run the sudo command again and see if the file has the new lines in it.

      Let me know if it worked 🙂

      1. Worked a treat! Thank you!

        I’m a new subscriber, and new to the FIRE concept too, and have found your posts very interesting. First few steps towards FI have been pretty exciting!

        Thanks again!

        1. Awesome!

          When you first discover FIRE it is very exhilarating. For me, the feeling never really went away 🙂

          Let me know how you get on with matched betting. If you have any questions, come back to this post! I was full of them when I first started and found little answers on the OddsMonkey forums etc – I’m here if you need me 😉

          I think I’m going to start a Q&A section at the bottom of the guide so that people can use it as a reference.

  6. Hey Saving Ninja – I’ve been meaning to try matched betting for a couple of years now and your enthusiastic and detailed post has just given me the kick up the ar*e I needed to get moving on it, so thank you!

    Enjoying the blog so far and looking forward to hearing more of what you’ve got to say 🙂

    1. Awesome dude! I’m so glad! There’s SO much money being left on the table! And when I started out I just didn’t have anyone to talk to about it. After 2 years I think I’m now experienced enough to finally have a grip on all aspects of matched betting. So I’m hoping to write it all down, and be here for my readers if they have ANY questions! So please come back and ask away if you’re struggling with understanding anything – and good luck 🙂

      1. Having read through some of the community posts, there seems to be differing views with regards to bashing through the new account offers swiftly vs taking it a bit slower. Some posters believe they may have been gubbed due to potential long periods between claiming new account offer and then using the account again.

        I’d be interested in your views on that, and any other quick and easy precautions to protect the accounts?

        1. The only thing you can really do other than blocking IE snare is mug betting, which is playing normal bets without offers active, but still laying them, for a small qualifying loss, but – I don’t believe mug betting is worth it.

          I’ve only done mug bets a few times at the start but there are so many bookies that you’ll always have more than you need to make a lot of money, even if you get gubbed on a few.

          My advise is; just don’t worry about it. If you get gubbed, move on to a different bookie.

          I really don’t think you’d get gubbed just for doing the new account offers, unless there was some kind of tracking with IE snare. But yeah; I’d just focus on making as much money as you can. Block IE snare, but don’t worry about much more than that.

          It’s actually been quite a long time since I did my new account offers, so please let me know how it goes for you 🙂

  7. Hi saving ninja. I’m interested in giving this a go, but don’t know that I will have enough time to commit to doing something every day. Is it possible to spend time a couple of times a week and still make it worth while?
    Are there any risks to doing this matched betting?

    1. Hi Bee,

      The only risk is human error, but that’s very small, it’s only if you, say, bet £100 instead of £10. Even then, the reward is worth it. There’s no other risk other than that.

      It’s still most definitely worth doing if you don’t have much time, especially if you’ve never done it before. The new account offers are very lucrative, easy, and you can do them as little as you like. I’d recommend at least doing the new account offers, then if you don’t want to continue, you at least know what it is and how to do it. Then when big events come around like the Grand National, you can nip back on and make a quick £75 in 5 minutes (was the easiest £75 I’ve ever made). It takes no skill either, the software does it for you.

      If you’re in doubt, just sign up to the free trial and have a go of the first introduction offers. They’ll net you £50 alone. If you think it’s not for you, cancel and walk away with your free £50 🙂

      Stick around anyway, I’ll be writing about EW betting soon. I’ve actually made £1500 in only 6 days from doing it 1 hour per day whilst at work. It’s bloody awesome! This is only something you can do after you’ve completed the new account offers though (which is another reason I’d recommend everyone to at least do those, so they’re ready to jump on any amazing offer that might crop up through out the year).

      Any problems at all, come back and leave me another comment, I’ll do all I can to get you rolling 🙂

  8. Just found your website through TFS and now have it bookmarked.
    I recently started matched betting 3 months ago and so far have only really done it on the sports. Last month I began the EW no lay and hit 12% on total staked using small stakes. I’m looking forward to your post on casino offers as this is something I have not done much of and feel somewhat lost on.

    A great post and I will be reading more.
    Thank you.

    1. Hi Vishal,

      Thanks for bookmarking :):) What’s your total profit been for matched betting so far? Have you completed all of the sign-up offers?

      low stake EW no lay betting is a great introduction into variance and can segway into low-medium risk casino offers. I’d focus on EW betting first and build your stake/bank. The minimum bank for medium-high risk casino offers I’d say is about £5000, the returns can be very good though!

      1. Hello and thanks for your reply.

        In the 3 months my profits have hit the £2K mark. I started with a bankroll of £1K initially but was soon adding extra funds as I was doing more signup offers. My total bankroll currently stands at a little over £5K (£2K from the profits and £3K of my own funds), but I have an extra £1-2K I could add if need be.

        I have done around 60% of the signup offers on the sports, I try to do a few a week so should have them all done soon.

        Started on the EW no lay bets which as you say introduces you to variance and is something I intend to keep on doing. The next step I think for me will be dipping my toes into the casino offers.

        The plan is to keep building the bankroll and not withdraw anything for now … at least until I reach a point where I feel I have a surplus … at a guesstimate I would put that figure to around £8-10K.

  9. Great guide here and looking forward to reading about the casino offers as that is something I haven’t done for a while or much of.

    I agree about the gubbings thing. People overly worry about this. Just make hay while the sun shines and if you get gubbed move on. There are so many bookies out there!

    That thing about time between open offer and next bet is a case in point. What a load of rubbish. I’ve heard from a mate who works at an online bookie that age of account is more important so actually leaving it for a while before you start smashing the reload offers could actually be a good thing. I think most of the “strategies” people are using to extend account life are purely guess work and let’s not forget humans are great at spotting patterns in small sets of data where it is totally insignificant 😉


  10. I just wanted to say thanks for giving us a final kick to get started on this (also saw it on Quietly Saving blog!). We are working our way through the introductory offers, joined Oddsmonkey and follow Team Profit on Facebook and watch their guides. We are very structured and methodical people so this activity suits us. Plus we don’t have many hobbies in the evening or weekends to take up time.

    As higher rate tax payers it’s very nice to get some extra cash without much effort and tax free! Whether it’s something we keep doing remains to be seen but after 2 weeks without much work we are about £300 up. The topcashback offers are a nice, easy addition to the welcome offer cash.

    We did start with your MB spreadsheet but couldn’t understand it and found the Team Profit spreadsheet much easier (sorry). When we’ve filled that up I suspect we’ll go back to yours and it will make perfect sense.

    At the moment we have the small goal of paying for a cam-belt on the car – who knew they were so bloody expensive? After that I’d like to get to the point we can extract some profit each month and see it going into an ISA, then it’ll be well worth doing..

    Look forward to the next set of guides you are writing.

    1. Hey Jamie,

      I’m very glad you’re trying this out! Sorry my spreadsheet wasn’t up to scratch 🙁 I’ve not spent as much time on that spreadsheet as I have on my savings one. Any tips would be greatly appreciated!

      Awesome goal of paying off your cambelt! Change it yourself for an added bonus 🙂 I’m certain you’ll earn more than enough to fill up your ISAs each year if you stick with it.

      Come back any time if you have any questions!

  11. Hi Savings Ninja,

    This is a great post and I am really excited about trying matched betting! =)
    Is there any chance you could upload your matched betting spreadsheet (and the rest of your brilliant spreadsheets) to google sheets? This will make them much easier to use on the move? I’d copy it all and put it in myself, but the formulas don’t work when I do that.

    Thank you,


    1. Hey Calum!

      I’m so happy you like the spreadsheets, and glad you’re trying out matched betting 😀

      I did actually start off with them in sheets but a lot of things didn’t work such as the macros in the savings spreadsheet.

      I’ll add the sheet links to the Ninja page tonight as an alternative with a warning that some features may not work. Then at least you can track things on the move and just download it when you wanna look into it in more depth!

      Let me know how MB goes! Any questions you have just come back here 🙂

    2. I’ve now added the shared Google Drive to the Ninja page. I’ve tested the formulas and they seeeem to work, let me know if it works for you 🙂

  12. Hi Savings Ninja,

    Do you have any tips specifically for the Acca offers? They look really time consuming as you have to check back multiple times to keep the consecutive lay going, which puts me off a bit.



    1. Hi Calum,

      I did Acca offers over a year ago, they seemed a lot better then. It is very time consuming though and if you miss a match, you can lose money.

      I’d personally stick to completing all of the new account offers, then once your bank has grown to 1k+ you can try out some risk-free Casino offers, then EW betting! I’ve heard good things about 1-up offers, but I think these generally need a bit of knowledge on actual sports to complete, unless you’re fine to play with variance.

      EW betting quietens down a bit over the winter months, but I’ll have a guide for this early next year. Stay tuned!

        1. @Calum – No-lay accas are a good compliment to the EW betting, I find. Just use the Acca Builder No Lay, place your bets, no need to check for consecutive lays.

          1. Just checking – no lay accas sounds a bit like betting?

            Anyway, thank you to you Weenie and Saving Ninja for your posts – we finally hit £1,000 profit after 6 weeks and not much effort. The same day we had our first gubbing 🙂 So I’m wondering what I can do with a Coral account restricted to 71p bets….

            We’ve dabbled with low risk casino, a bingo game, extra places from WH and EW bets and only made a couple of mistakes along the way. I’m concerned we don’t have a clear strategy on which accounts are for horses or football and jumping on lots of offers will get us gubbed quickly….

            Looking forward to the EW MB guide in the new year.

          2. Hi Pom,

            As I’ve found out myself, EW betting does get you gubbed relatively quickly, so I’d make sure you’ve exhausted all of the offers you can on your account. Although as Weenie will tell you, a restricted/gubbed account will still allow you to EW bet with lower stakes, which you’ll probably be doing for a quite a while anyways. I think Bet365 still allows you to EW bet £6 on a restricted account, this is the amount you’ll be if you have a £1200+ bank (to play out the variance).

            It’s kind of like low-high risk casino offers. It’s not actually gambling, the odds are in your favor. You just might have to lose 40% of your money before you gain anything. You need to ‘play out the variance’, which is why it’s not recommended to stake more than 1% of your total bank. Variance betting like EW and casino offers are a bit more nerve-wracking, but it’s where the real money is (as you can see on my savings reports.

            But yeah, I’d recommend trying out EW betting on Bet365 with very low stakes, maybe £1.50 or £2.5 each way (so £3 and £5 total stake) and see how you do/cope with the variance. You should be OK with it as you’ve done low-risk casino offers 🙂

            Let me know how you get on!

  13. Hi,

    Great article but I can’t make out your spreadsheet. Can you explain what goes in the Amount In and Out columns please?

    1. Hi Papaonfire,

      Thanks! I’m sorry you can’t make out the spreadsheet, didn’t tailor it for you guys like I did for the savings spreadsheet so isn’t as clear.

      The ‘Amount In’ column is basically what you’ve staked. The ‘Amount Out’ is what you won after the bet is settled. That’s why the second 2 in the first example don’t have any ‘amount in’ as it was a free bet. Only an ‘amount out’ which is why there’s £29.53 profit. It’s stacked like this for when you need to do multiple bets in order to get a free one, you can just keep pasting rows.

      1. Ok thanks. Perhaps it’ll be clearer for me to understand once my bets have settled and I’ve entered the figures.

  14. Hi Ninja,

    Loved the match betting guide and have been working my way through the new acc offers with some success – surprised at how easy it was! I am really interested in the E/W betting strategy but not really sure how to get started. Are you still planning on posting an E/W betting guide or are there any tips you can give to a beginner!

    1. Hi Trainee Ninja (love the name!),

      I’m really happy you’re having new account offer success! It is really easy 🙂 I am planning on releasing an EW betting guide before Cheltenham kicks off in March. This is when there will be A LOT of money to be made from the races so I’ll make sure to release the post in time for this! For now, get those coffers ready so you can take full advantage. There are a lot of good no lay accas currently on with Dafabet, Toals, Tonybet, BetVictor, Ladbrokes, and PaddyPower (check out the no lay acca matcher on OddsMonkey and just bet on the accumulator (no laying needed unless you get a free bet!)

  15. Just a quick info, blocking iesnare before setting up some accounts might make it impossible to set them up. I had troubles with some bookmakers and did not know why I cannot create accounts. When I undid the iesnare protection you have suggested here, I could set up the accounts.

    Perhaps there is a way to control iesnare without disabling it? A sort of iesnare weeding every so often?

    Would appreciate a reply.

    1. Hmm, this has never happened to me or anyone I know. Blocking IE snare simply blocks the data sending, the bookies will just think it’s not reporting. There’s no way for them to detect this and disallow you to sign up.

      There are other things that may be affecting you? Such as using a VPN that the bookie knows about, sometimes not accepting cookies (even if you’re private browsing) or using geo-spoofing software?

  16. Even before reading the whole thing: mad props for compiling such a detailed guide.

    I’ve had a keen interest in games of chance since I was a teenager and used to be proficient in card counting and utilized modified-Martingale-like strategies where applicable. Seeing posts like this one make me remember the amazing feeling of having an advantage.

    I’ll read it carefully and do some research to see if the concepts can be applied in The Netherlands (or even globally) as well.

    Keep up the great work!

    1. Thanks Monk 🙂 Please let us know if you manage to find a way to matched bet outside of the UK!

  17. Thank you so much for the guide! It’s been helpful. Just an update for OddsMonkey – you can only earn around £32 in the free trial now. A bit lower than £50 but hey it’s money 🙂

    I have a question about Formula One matched betting. Does OddsMonkey’s calculator help calculate the odds for Formula One? Personally I am more familiar with formula one than with football and horseracing and find motorsport more exciting. Any advice on motorsport betting?

      1. First bets (and free bets) have been placed. If I got everything wrong I think I’ll be down £200. If I got everything right then maybe up £23! Will find out later today…! *hides behind hands*

  18. Great article! I’m just about to embark on matched betting, aiming to make £180 per month (helping me save for a house deposit next year). Thanks for the great write up

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