5 Quick Points
- There is no gambling involved, we’ll be extracting risk-free cash from the sign up bonus offers that each Aussie bookmaker offers to new customers. USA readers can find a separate tutorial here.
- Anybody with a residence (even temporary) in Australia can make up to $175 in less than 30 minutes with this no-risk matched betting guide. (From 10th August 2017 this is now $330 as the free bet we use is upped from $250 to $501).
- The tutorial is detailed but the process is simple. I want to be comprehensive so please read through once to get the idea before completing the 8-step guide, make sure you understand how it works and don’t rush it.
- After we extract the profit from the first sign-up bonus bet, we can then replicate this technique with the sign-up bonuses being offered from all the other big online bookmakers.
- The only risk is a human error so if you have any questions or concerns email me at Dave@MatchedBettingOz.com or leave a comment below.
What Is No Risk Matched Betting?
“No Risk Matched betting is a betting technique used by individuals to profit from the free bets and incentives offered by bookmakers. It is generally considered risk-free as it is based on the application of a mathematical equation rather than chance” – Wikipedia
How Is no risk matched betting 100% Risk-Free?
“We leverage free bonus bets and turn them into cash without risk.”
We make our money through the generosity of the bookies, each bookie offers a sign-up bonus generally matching your first deposit within the range of $20-$500. (Eg. if your Qualifying Bet is $50 you will be awarded a Bonus Bet of $50 = $35 no-risk profit). So we leverage free bonus bets and turn them into cash without risk.
Generally, the bookie wants you to bet through your deposit first to qualify for the free bet. Don’t worry we’re too clever for that gambling nonsense. This is why we both back and lay the bet on two different bookmakers as explained in the tutorial. Hence we cover both outcomes ensuring we do not lose our original deposit and by unlocking our bonus bet that we can extract our profits from later.
Is it legal?
Yes, you are free to do what you like with your sign-up bonus bets. The bookies would of course rather you gamble it blindly, but in this tutorial, you will see how we guarantee a profit from it by using the matched betting technique in the 8 steps below.
Some terms you should be aware of before starting the 8 step guide
Eg. Man Utd Vs Chelsea
I back a bet that Manchester united will WIN with Sportsbet.
This is simply a term for placing a bet that an outcome will NOT happen, we do this on the betting exchange. Betfair is the exchange we will be using as they are the most popular and easy to use. This means that you are able to place a bet that covers the opposite outcome of the back bet.
Eg. Man Utd Vs Chelsea
On the exchange, I lay a bet that Manchester United will NOT WIN. This means that Chelsea winning and the Draw are covered.
Some bookmakers want you to reach a certain amount of money in bets on your account before they allow you to withdraw your bonus. Sometimes this is 2x the amount. So if your bonus bet was for $20 you have to make $40 in bets before you can withdraw.
If we win when we place our free bet and the money ends up in the bookies and not the exchange we have to repeat the qualifier bet once more to reach the turnover amount and extract our winnings. At the moment in the tutorial below, you don’t need to worry about this as Sportsbet don’t have an extra turnover requirement on their bonus bets. That is the reason they are a great first no risk matched bet.
I have added the easiest sign up bonuses here, these have the lowest turnover requirements making them easy to extract +70% profit.
NB. T&Cs can change so always read the terms and conditions. Mainly looking out for the minimum odds and turnover requirements.
This is the money you need to have in your Betfair account to cover the Lay the bet. The bigger the bonus you go for means you will need more money in Betfair to make sure the Back and Lay bets cancel each other out. Our free matched betting calculator provided in the steps tells you the exact amounts needed.
If we use a free bet of $10 at odds of 5.00(4/1) we will win $40 so to lay this bet to cancel out the chance of it losing and ensuring we can get our free bet we must put $40 in the (Lay) Betfair account.
Eg. If the 5.00 back bet wins in the bookie we would win $40, to make sure we are not risking anything we need to lay the bet at 5.00 on the exchange with a lay stake of $10.00. So in this example, we would need to put $40 into Betfair exchange to neutralise the bet.
So below is the result no matter what happens. Usually, to get our free bet we lose a few cents or dollars depending on how much we are placing. Don’t worry we make this back with a hefty profit, this is why its called no risk matched betting 🙂
That is how we will be placing a bet to qualify for our bonus without losing our original deposit. Once this bet finishes our money will be either in the exchange (Betfair) or the online bookies(Sportsbet). Then we withdraw our initial deposit and repeat the process to turn the bonus bet into cash with no gambling. It may sound complex but it’s not, just take your time and follow the steps EXACTLY as they are laid out.
So to complete the tutorial we are going to be using the soccer market and Sportsbet.com.au to get our free bonus bet, again if you already have an account or have trouble getting the bonus you can try any of the bookmakers here. We will also need to calculate exactly how much to lay on the exchange to cancel out the back bet as the odds vary on both sites. We have the matched betting calculator that does all this math for is for us, this is explained in the guide.
Following the guide you will make a profit of 70%+ of your initial deposit in profit in about 30 minutes. Remember don’t rush it and double check everything as you go along to make sure everything adds up for you. See you on the other side, slightly richer 🙂
“if your Qualifying Bet is $50 you will be awarded a Bonus Bet of $50 = $35 no-risk profit”
For this guide, I deposited $50 granting me a $50 free bet (with this I can expect around $35 risk-free profit). If you deposited any other amount and were awarded a different bonus, just enter this instead of the $50 in my examples. Remember you do not lose or risk this initial deposit, you get it all back with your profit.
The 8-Step No Risk Matched Betting Guide 2017
This is where we’ll be getting our sign-up bonus that we turn into risk-free profit. We place our initial back bet here with the bookmaker, below is an example of a back bet. Clicking this option on a Sportsbet soccer match means that you are backing Germany to WIN the match at 1.75 odds.
The easiest offer to start with is Sportsbet who are offering a bonus bet of up to $501. So when you deposit any amount up to $501 they will match it with a 100% bonus bet that we will turn into guaranteed profit. So start with whatever amount you are comfortable with (don’t worry we’ll be getting this deposit back + approx 70% of the bonus amount in cash with no risk involved).
You can click here for the Sportsbet $501 Bonus. Once signed up come back and continue.
Note: If you are from WA, NSW, SA, VIC and have trouble getting a sign-up bonus then read this for help.
Betfair is the betting exchange website where we bet against other people and play the role of the bookie. This is where we will place our lay bet straight after our back bet.
Again, below is an example of a lay bet on the same game on Betfair (betting that Germany will NOT WIN, this covers the draw and England win options), remember the lay bet is in red and this neutralises our placed bet with Sportsbet protecting us from all outcomes and keeping our money used to qualify for the bonus.
Sign Up for the betting exchange | Click Here
This is essential to make things really simple when using the calculator later. Most sites use decimal as default, but if the odds are displayed in a fraction there is usually an option in the settings or account tab that lets you change this. The chat support feature is excellent on most betting sites though so any issues finding it you can just ask.
To withdraw our bonus bet into cash we must first bet through the value of our deposit. Don’t worry we get it back. The terms and conditions of this bet state that we need to pick odds of 1.5 or higher (Always double check T&Cs yourself and ask on the online chat or check the terms attached to the bonus bet as the minimum odds can change)
The goal here is to find low odds that are similar to both back and lay, we won’t be doing this manually, to find the best odds we will use the no risk matched betting Oddsmatcher below to find the best game to place our qualifier bet on. You only need to sign up for the free version to use find odds for Sportsbet/Betfair.
Two things are important here, we want to find the game with a very low “qualifier loss” to maximise our total profits. In the Oddsmatcher when it mentions a team name under the tab “bet” this is who we back, if it says draw then we back the draw and then lay against a draw on Betfair.
Leave this tab open and as soon as you pick your match, write it down somewhere with the back and lay odds. Then come back and proceed to the next step. I have explained below how to use the Oddsmatcher to find the best match.
Green – Select this to filter to only show Sportsbet and Betfair matches
Blue – We can pick the bookie we are using, for this bet it’s Sportsbet.com.au.
Purple – We select only the exchange that we are using so only select Betfair.
Below is my selection for this tutorial. Germany V England at back odds of 1.75 and lay odds of 1.76. The tab beside with the figure £9321 is to show me that there is plenty of liquidity in Betfair so there will be no problem having this bet accepted on the exchange.
NB: Oddsmonkey has recently (01/11/17) stopped the use of Sportsbet in the free version, for this step you can sign up to the free version of Bonusbank instead to use their Sportsbet Oddsmatcher for free. When you log in it is called the ATM (Automatcher)
It’s always a good idea to check the T&Cs of the bonus bets. Generally, minimum odds to qualify for the free bet are 1.5 or 2.0. For this Sportsbet qualifier it is 1.5 but always double check on live chat as this can change over time.
This will tell you how much you need to place on your lay bet on Betfair to cover all outcomes and ensure you do not lose your initial deposit. You can expect to make a small “qualifier loss” aim for less than 5%. Considering you will be getting a 70% profit from the bonus bet this is not an issue.
This is the calculation I used for the $50 example, simply change the stake and odds to the ones you have found for your qualifier bet. You can see here my outcome is a qualifier loss of $1.39 and then I am awarded the $50 bonus bet which we later turn into a profit.
My example explained.
Back stake – Enter the amount of money you are betting to obtain your free bet, in this example it is $50 to obtain a $50 free bet.
Back odds – Enter the Back Odds you have written down.
Lay odds – Enter the Lay odds you have written down.
Lay Commission – Leave this at 5% (It’s a Betfair fee and is standard)
Liability is what we lose on the exchange if the Lay bet loses and the back bet wins. If this happens we are liable to lose $38.89 on the lay bet with Betfair but we will then win this amount on the back bet (Sportsbet) and the loss will be cancelled out.
After this is calculated you can see that the stake you need to lay on Betfair is $51.17 at the odds of 1.76.
Now you can use our calculator to find out what you need to lay on Betfair to cancel out your back bet. Make sure the bet type is set to “Qualifier/Arb” for this step.Click Here | Matched Betting Calculator
Firstly find the game from the Oddsmatcher on both Sportsbet and Betfair and make sure the odds are correct and have not changed.
Place the back bet on Sportsbet.com.au to the amount that you deposited for the free bet. In this example, I will BACK Germany $50 at the odds the Oddsmatcher gave of 1.75.
Next, we find the correct odds for the lay, when you navigate to the correct game you may have to select “View full market” to see all the lay options.
Once you can see all the options on the game select the RED odds to lay the bet, we are betting against Germany to win to cancel out the backed bet we made with Sportsbet bet so make sure the odds are what the Oddsmatcher gave us for the lay bet. In my case 1.76.
Once you click on this and add it to the betting slip to the right you must enter the backer stake. This is the LAY STAKE that the calculator gave us that will ensure the two bets cancel each other out.
So now with both bets placed we are left with two outcomes after the game. Either Germany win the match and the back bet (Sportsbet) wins or they do not win (lose or draw) and then the Lay bet wins (Betfair) Below is what will happen no matter what the result is as per the calculator we used.
So we lose $1.39 from our initial $50 stake, so we then withdraw the $48.61 back to our accounts where it is safe. Now we have a $50 bet to extract the profit from in the next step.
Okay now with your original money secure minus the small “Acceptable loss” we can withdraw this back onto our card and extract the money from the free bet.
To get the cash from the free bet we follow the same steps but this time in the Oddsmatcher we need to find a game with close odds but this time odds above 3,0 to maximise our guaranteed return on the free bet.
After you find the match enter the odds again into the calculator but this time select “FREE BET” to get the new calculation. This will tell you the profit that you will make from the free bet. You will never get 100% of the bonus bet value in cash back because the stake is generally not returned and this lowers the profit slightly. (No big deal we are making a lot of cash)
NB: You need to enter the stake not returned amount, usually just the same as the free bet amount as you don’t get this amount back in your winnings as it’s a bonus bet and not your cash yet. You can confirm on live chat with the bookmaker that the free bet stake is not returned with the winnings. Although this is the case 95% of the time.
After you enter the odds into the calculator you then make your back bet (Using your full free bet amount) on Sportsbet and Lay it on Betfair using the Lay Stake that the calculator gives you (In this example my lay stake was $36).
As we can see below when either the Bookie (backed free bet) or Betfair (lay bet) win I get either $34.2 in profit in withdrawable cash in one of them.
NB: On this step, it is ESSENTIAL to set the bet type to ‘FREE BET”
So on the $50 free bet, I get $34.2 minus my acceptable loss from the qualifier bet which was $1.39 I will make a nice profit of $32.81 guaranteed.
All done, congratulations on completing the no risk matched betting guide and making your first profits. If you have any questions about no risk matched betting feel free to ask me at Dave@MatchedBettingOz or just leave a comment below.
First profits from the sign-up bonus, nice … but what now?
Once you made your first profit with the tutorial you will be keen to keep it up, next I would recommend you start going through some of the other big bookmakers sign up bonuses before getting into any weekly promo offers that we use to profit from. You can find a list of the easiest ones to complete here.