Matched Betting Australia - What You need To Know
1) There's no gambling involved. We use betting arbitrage to extract risk-free cash from promotional offers. USA readers can find a separate tutorial here. This guide is specifically for matched betting in Australia.*
2) Anybody over 18 with a residence in Australia can make a side income from arbitrage and matched betting, you don't even need experience. Just follow this 8-step no risk matched betting guide.
3) Don't rush it. The tutorial is detailed but the process is simple. Take your time and make sure you understand how it all works.
4) The only risk is human error. Any questions, leave a comment below or ask in the Facebook group.
What is No Risk Matched Betting Australia?
“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 Does Matched Betting Work?
“We leverage free bonus bets and turn them into cash without risk.”
We make our money through the ‘generosity’ of the Aussie bookmakers. Bookmakers all over the world offer a range of bonus bets, offers and odds to their customers. So we use arbitrage and matched betting to play these offers and promotions against each other and turn them into profit without risk.
Generally, the bookie wants you to bet first to qualify for the offers.
“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..”Don’t worry though, we’re too clever for that gambling nonsense. This is why we place a back bet with the bookmaker and opposing lay bet with the Betfair exchange.
This means we cover all potential outcomes of the game, ensuring we do not lose our original deposit. This then unlocks our bonus bet so that we can turn it into real cash without any risk.
Is Matched Betting a Scam?
This is the best first question to have when you hear about making money online. I can assure you matched betting is completely legit, and it's already very popular in the UK.
Matched betting is relatively new to Australia. It's simply the process of turning bookmaker offers into cash. Don't take my word for it, no-risk matched betting has been covered a lot in the media already.
Is Matched Betting Legal in Australia?
Yes, you’re free to do what you like with your bonus bets. The bookies would rather you gamble it blindly. However, in this tutorial, you will see how we can guarantee a profit from it. Just by using the simple strategy in the no-risk matched betting Australia guide below.
So to complete the tutorial we are going to be using the soccer market. We also need to calculate how much to lay on the betting exchange to cancel out the back bet as odds vary on both sites. We have the matched betting calculator that does all this math for is for us, this is explained in matched betting Australia guide below.
So Basically, We are backing a promotional bet with a bookmaker, then going to the exchange and placing a bet on the opposite outcome. Ensuring we can make a cash profit no matter what the outcome.
Here's a quick matched betting Australia FAQ if you need it.
Matched Betting Australia 8-Step Guide
Step 1 - Sign Up To The Bookmakers
This tutorial is for a $100 bonus bet awarded.
It's best to sign up to a few bookmakers and try get some welcome bonus bets, to start, here are the top bookmakers to begin with. We recommend starting with Bluebet and Pointsbet.
Step 2 - Sign Up To The Betting Exchange
Betfair is the only exchange I would recommend for matched betting Australia, they are the most popular by far and always have the most liquidity. This is where we place our opposing lay bet to cancel out the back bet with the bookmaker.
Step 3 - Use Decimal Odds Only
This is essential to make things easier when using the matched betting calculator later. Most sites use decimal as default. If the odds are displayed in a fraction there is usually an option in the settings 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.
Step 4 - Find a suitable bet - Oddsmatcher Australia
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 as they can change)
The closer the odds the smaller the qualifier loss. So for this step, we'll need to find a game with close enough odds to back and lay to make sure we extract our initial deposit without risking our cash deposit.
We can do this manually by searching for close back and lay odds on the bookmaker vs Betfair above 1.5. Alternatively, we can do this with free software by using the free 5 day trial of Bonusbank by clicking here. Just enter the code NFLOZ when signing up, you can cancel or downgrade to free as soon as you find your bet. I'd recommend sticking around though as you can make a lot of money with them.
Choose "The ATM" from the Software tab & choose your bookmaker from the dropdown bookmaker menu in the image below, we can see the game that will let us extract our deposit by making the smallest qualifier loss possible.
Two things are important here. We want to find the game with a very low “qualifier loss” to maximise our total profits. We need the closest back/lay odds possible as close to just above 1.5.
Note 1 - 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 the Betfair exchange.
Note 2 - The red number under "SR" is the amount we lose for every $100 staked no matter the outcome. with this bet we lose $5. However we can now withdraw $95 of our initial $100 deposit. Now we have the $100 bonus bet to make our $70+ guaranteed profit with in the next steps.
My Selection - I choose the Valencia v Celta Vigo game to complete my qualifier bet. Under the tab "Bet" I am told to back Valencia on the Bookmaker at odds of 1.72 and lay against Valencia winning on Betfair at odds of 1.77. For my $100 I will expect to lose $5. The odds are back at 1.72
I now enter these odds into the Matched Betting Calculator in the next step.
Leave this tab open, as soon as you pick your match, write down the back & lay odds and come back for the next step.
This tells you how much to place on your lay bet on Betfair to cover all outcomes and ensure you don't 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 $100 example for the Valencia v Celta Vigo game in the previous step. I found on the Oddsmatcher. 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 $5 and then I am awarded the $100 bonus bet which we later turn into a profit.
Below is my example from the Betting Calculator.
My bet calculations explained.
Back stake – Enter the amount of money you are betting to obtain your free bet, in this example it is $100 to obtain a $100 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 - this 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 $77 on the lay bet with Betfair but we will then win this amount on the back bet (bookmaker) and the loss will be cancelled out. After this is calculated you can see that the stake I need to lay on Betfair is $100 at the odds of 1.77.
Use the arb calculator to find out what you need to lay on Betfair to cancel out your back bet. Again, make sure the bet type is set to “Qualifier/Arb” for this step.
Step 6 - Place Qualifier Bet #1 (Back Bet With Bookmaker)
Finally, we place our bets. Find the game from the Oddsmatcher on both the Bookmaker and Betfair. Make sure the odds are correct and have not changed.
Place the back bet on the Bookmaker for the amount that you deposited for the free bet. In this example, I will place my back bet on Valencia with $100 at the odds the Oddsmatcher gave of 1.72.
Next, we find the correct odds for the opposing lay bet. When you navigate to the correct game you may have to select “View full market” to see all the lay options.
You will see all the betting options for the game. Select the odds in the red box to lay the bet. It is essential you use the red box and not the blue one. We're betting against Valencia winning to cancel out the backed bet we made with the Bookmaker.
Make sure the odds are the same that the Bonusbank Oddsmatcher gave us for the lay bet. In my case 1.77. Once you click on this and add it to the betting slip to the right you must enter the lay stake that the calculator told us. In this example, it is $100 I need to lay on Valencia not winning.
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 Valencia win the match and the back bet (Bookmaker) wins or they do not win (this covers both lose or draw possibilities) and then the Lay bet wins (Betfair). Below is what will happen no matter what the result is as per the bet calculations we made earlier.
As expected, we lose $5 from our initial $100 stake. So we then withdraw our $95 from the bookmaker. The good news, now we have a $100 bet to extract the profit from in the next step.
STEP 8 - Extract Cash Profits From Our Bonus Bet
Now with your original money secure minus the small “qualifier loss” we can withdraw this from the bookmaker. Now we can extract the 70%+ no risk profit from the bonus bet.
To get the cash from the bonus 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 profit on the free bet.
I choose Juventus V Napoli giving me a $72 profit guaranteed for any $100 bonus 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 bonus stake is generally not returned, only the profit made from it.
This lowers the profit slightly. (We can expect to make 70-80% of the bonus amount)
NB: You need to enter the stake not returned amount into the calculator, 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.
NB: This time make sure the field BET TYPE is set to FREE BET and not ARB/Qualifier.
After you enter the odds into the calculator you then make your back bet (Using your full bonus bet amount) on the bookmaker, $100 in this guide. Make sure you select the bonus bet and not real money if you still have any in the account.
We then Lay it on Betfair using the Lay Stake that the calculator gives you (In this example my lay stake was $76.19).
So as we see in the calculator image above. After this game finishes, by using the no-risk matched betting technique. I'm guaranteed to get $72.38 either with the bookie or exchange from my $100 bonus bet. Minus my acceptable qualifier loss which was $5 I will make a nice guaranteed profit of $67.38.
Total Guaranteed Profit From Bonus Bet = $67.36 as I used a $100 bonus in the example. If you go for the full $200 you will make double that, so $134.72
All done, congratulations on completing the no-risk matched betting Australia guide and making your first profit. If you’ve any questions feel free to ask me in the facebook group, or leave a comment below.